If an item is sold for Rs. 1020 at a loss of 15%, what was its cost price? MCQ with Answer and Explanation

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If an item is sold for Rs. 1020 at a loss of 15%, what was its cost price?

A. Rs. 1100

B. Rs. 1250

C. Rs. 1200

D. Rs. 1150

Answer: Option C

Solution (By JKSSB Mock Tests)

Selling Price = 1020. Loss = 15%. Cost Price = (1020 / 0.85) = 1200.

This question belongs to: Maths Profit And Loss

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Question #1

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If the cost price of an article is Rs. 390 and the selling price is Rs. 468, what is the profit percentage?

A. 15%

B. 25%

C. 18%

D. 20%

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Correct Answer: Option D

Explanation:
Profit = 78, profit% = 78/390*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper sells a transistor at 15% above its cost price. If he had bought it at 5% more than what he paid for it and sold it for Rs. 6 more, he would have gained 10%. Find the cost price of the transistor.

A. Rs. 600

B. Rs. 1200

C. Rs. 1000

D. Rs. 800

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Correct Answer: Option B

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 105x. New Selling Price = 105x * 1.10 = 115.5x. Difference in Selling Price = 115.5x - 115x = 0.5x. 0.5x = 6. x = 12. Cost Price = 100 * 12 = 1200.

This question belongs to: Maths Profit And Loss