If the selling price of an article is Rs. 1080 and the loss is 20%, find the cost price. MCQ with Answer and Explanation

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If the selling price of an article is Rs. 1080 and the loss is 20%, find the cost price.

A. Rs. 1350

B. Rs. 1300

C. Rs. 1250

D. Rs. 1400

Answer: Option A

Solution (By JKSSB Mock Tests)

SP = 80% of CP => CP = 1080 / 0.8 = 1350.

This question belongs to: Maths Profit And Loss

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Question #1

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If the selling price of an item becomes half, the loss becomes three times the initial loss. What was the initial loss percentage?

A. 30%

B. 15%

C. 20%

D. 25%

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Correct Answer: Option C

Explanation:
Let Cost Price = 100 and initial Selling Price = x. Initial loss = 100 - x. New Selling Price = x / 2. New loss = 100 - (x / 2). 100 - (x / 2) = 3 * (100 - x). 100 - 0.5x = 300 - 3x. 2.5x = 200. x = 80. Initial loss = 100 - 80 = 20. Loss percentage = 20%.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper sells a product for Rs. 720, gaining 20%. Find the cost price.

A. Rs. 580

B. Rs. 640

C. Rs. 620

D. Rs. 600

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Correct Answer: Option D

Explanation:
CP = 720 / 1.20 = 600.

This question belongs to: Maths Profit And Loss

Question #3

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A person buys 80 kg of rice and sells it at a profit of as much money as he paid for 30 kg. His profit percentage is:

A. 37.5%

B. 27.5%

C. 30%

D. 35%

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Correct Answer: Option A

Explanation:
Let Cost Price of 1 kg = 1. Cost Price of 80 kg = 80. Profit = Cost Price of 30 kg = 30. Profit percentage = (30 / 80) * 100 = 37.5%.

This question belongs to: Maths Profit And Loss

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