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

Question

Share Report Error

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

A. Rs. 510

B. Rs. 500

C. Rs. 495

D. Rs. 505

Answer: Option B

Solution (By JKSSB Mock Tests)

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

This question belongs to: Maths Profit And Loss

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Profit And Loss Questions

Question #1

Share Report

If the selling price of an article is Rs. 270 and the profit is 35%, find the cost price.

A. Rs. 220

B. Rs. 190

C. Rs. 200

D. Rs. 210

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
CP = 270 / 1.35 = 200.

This question belongs to: Maths Profit And Loss

Question #2

Share Report

An article is sold at a 20% profit. If both the cost price and the selling price are reduced by Rs. 100, the profit increases by 4%. Find the initial cost price.

A. Rs. 500

B. Rs. 400

C. Rs. 600

D. Rs. 800

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
Let initial CP = x. Initial SP = 1.2x. New CP = x - 100. New SP = 1.2x - 100. New profit = 24%. New SP = 1.24 * (x - 100). 1.2x - 100 = 1.24x - 124. 0.04x = 24. x = 600.

This question belongs to: Maths Profit And Loss

Question #3

Share Report

A man sold 250 chairs and had a gain equal to the selling price of 50 chairs. His profit percentage is:

A. 30%

B. 25%

C. 20%

D. 33.33%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Gain = Selling Price of 50. Gain = Selling Price of 250 - Cost Price of 250. Selling Price of 50 = Selling Price of 250 - Cost Price of 250. Cost Price of 250 = Selling Price of 200. Cost Price / Selling Price = 200 / 250 = 4 / 5. Profit = 1 unit on CP 4. Profit percentage = (1 / 4) * 100 = 25%.

This question belongs to: Maths Profit And Loss

Explore All Profit And Loss MCQs