If the selling price is Rs. 550 and the profit is 10%, find the cost price. MCQ with Answer and Explanation

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If the selling price is Rs. 550 and the profit is 10%, find the cost price.

A. Rs. 500

B. Rs. 505

C. Rs. 510

D. Rs. 495

Answer: Option A

Solution (By JKSSB Mock Tests)

SP = 1.1 CP => CP = 550 / 1.1 = 500.

This question belongs to: Maths Profit And Loss

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Question #1

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The marked price of a machine is Rs. 3200. Two successive discounts are offered, the first being 10%. If the final selling price is Rs. 2448, find the second discount percentage.

A. 15%

B. 12%

C. 18%

D. 20%

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Correct Answer: Option A

Explanation:
Price after first discount = 3200 * 0.90 = 2880. Second discount amount = 2880 - 2448 = 432. Second discount percentage = (432 / 2880) * 100 = 15%.

This question belongs to: Maths Profit And Loss

Question #2

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A person buys a pen for Rs. 20 and sells it for Rs. 25. What is the gain percentage?

A. 15%

B. 30%

C. 20%

D. 25%

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Correct Answer: Option D

Explanation:
Gain = 5, gain% = 5/20*100=25%.

This question belongs to: Maths Profit And Loss

Question #3

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A vendor bought bananas at 6 for Rs. 10 and sold them at 4 for Rs. 8. Find his profit percentage.

A. 10%

B. 20%

C. 25%

D. 15%

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Correct Answer: Option B

Explanation:
Cost price of 1 banana = 10 / 6 = 5/3. Selling price of 1 banana = 8 / 4 = 2. Profit = 2 - 5/3 = 1/3. Profit percentage = ((1/3) / (5/3)) * 100 = 20%.

This question belongs to: Maths Profit And Loss

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