If the cost price of an item is Rs. 240 and the selling price is Rs. 216, what is the loss percentage? MCQ with Answer and Explanation

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If the cost price of an item is Rs. 240 and the selling price is Rs. 216, what is the loss percentage?

A. 10%

B. 8%

C. 12%

D. 15%

Answer: Option A

Solution (By JKSSB Mock Tests)

Loss = 24, loss% = 24/240*100=10%.

This question belongs to: Maths Profit And Loss

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Question #1

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A shopkeeper buys two articles for Rs. 1500 in total. He sells the first at a 20% profit and the second at a 10% loss. If his overall profit is Rs. 90, find the cost price of the first article.

A. Rs. 800

B. Rs. 1000

C. Rs. 700

D. Rs. 900

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Correct Answer: Option A

Explanation:
Let CP of first = x. CP of second = 1500 - x. Profit = 0.20x - 0.10(1500 - x) = 90. 0.30x - 150 = 90. 0.30x = 240. x = 800.

This question belongs to: Maths Profit And Loss

Question #2

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If the selling price of an article is Rs. 288 and the loss is 10%, find the cost price.

A. Rs. 340

B. Rs. 310

C. Rs. 320

D. Rs. 300

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Correct Answer: Option C

Explanation:
SP = 90% of CP => CP = 288 / 0.9 = 320.

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Question #3

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A person sells a book at a loss of 8%. If the selling price is Rs. 184, find the cost price.

A. Rs. 200

B. Rs. 190

C. Rs. 210

D. Rs. 185

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Correct Answer: Option A

Explanation:
SP = 92% of CP => CP = 184 / 0.92 = 200.

This question belongs to: Maths Profit And Loss

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