If the cost price of an article is Rs. 600 and the selling price is Rs. 540, what is the loss percentage? MCQ with Answer and Explanation

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If the cost price of an article is Rs. 600 and the selling price is Rs. 540, what is the loss percentage?

A. 10%

B. 8%

C. 12%

D. 15%

Answer: Option A

Solution (By JKSSB Mock Tests)

Loss = 60, loss% = 60/600*100 = 10%.

This question belongs to: Maths Profit And Loss

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Question #1

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If an article is sold at a 200% profit, the ratio of its cost price to its selling price will be:

A. 2:3

B. 1:3

C. 3:1

D. 1:2

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Correct Answer: Option B

Explanation:
Let Cost Price = 100. Profit = 200. Selling Price = 300. Ratio of Cost Price to Selling Price = 100 : 300 = 1 : 3.

This question belongs to: Maths Profit And Loss

Question #2

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A dealer sells a bag for Rs. 420, losing 16%. Find the cost price.

A. Rs. 520

B. Rs. 490

C. Rs. 500

D. Rs. 480

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Correct Answer: Option C

Explanation:
SP = 84% of CP => CP = 420 / 0.84 = 500.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper marks his goods 20% above cost and gives a discount of 20%. What is his profit or loss percent?

A. No profit no loss

B. Loss 4%

C. Profit 4%

D. Loss 2%

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Correct Answer: Option B

Explanation:
Let CP = 100, MP = 120, SP = 120*0.8 = 96, loss = 4%.

This question belongs to: Maths Profit And Loss

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