If an item is sold for Rs. 450 at a 10% loss, what was its cost price? MCQ with Answer and Explanation

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If an item is sold for Rs. 450 at a 10% loss, what was its cost price?

A. Rs. 490

B. Rs. 500

C. Rs. 480

D. Rs. 520

Answer: Option B

Solution (By JKSSB Mock Tests)

Selling Price is 90% of Cost Price. 0.90 * CP = 450. CP = 450 / 0.90 = Rs. 500.

This question belongs to: Maths Profit And Loss

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Question #1

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A merchant marks his goods up by 50% and offers a discount of 20%. In addition, he gives 1 article free with every 4 articles bought. What is his net profit percentage?

A. 4% loss

B. 5% profit

C. 4% profit

D. No profit no loss

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Correct Answer: Option A

Explanation:
Let Cost Price of 1 article = 100. Cost Price of 5 articles = 500. Marked Price of 1 article = 150. Customer takes 5 articles but pays for 4. Selling Price of 4 articles = 4 * 150 * 0.80 = 480. Net Selling Price = 480. Net Cost Price = 500. Loss = 20. Loss percentage = (20 / 500) * 100 = 4%.

This question belongs to: Maths Profit And Loss