If the selling price of an article is Rs. 270 and the loss is 10%, find the cost price. MCQ with Answer and Explanation

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If the selling price of an article is Rs. 270 and the loss is 10%, find the cost price.

A. Rs. 290

B. Rs. 300

C. Rs. 280

D. Rs. 310

Answer: Option B

Solution (By JKSSB Mock Tests)

SP = 90% of CP => CP = 270 / 0.9 = 300.

This question belongs to: Maths Profit And Loss

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Question #1

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If the selling price of an article is increased by 20%, the profit becomes three times the original profit. What was the original profit percentage?

A. 10%

B. 12.5%

C. 15%

D. 11.11%

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Correct Answer: Option D

Explanation:
Let Cost Price = 100 and initial Selling Price = x. Initial profit = x - 100. New Selling Price = 1.20x. New profit = 1.20x - 100. 1.20x - 100 = 3 * (x - 100). 1.20x - 100 = 3x - 300. 1.8x = 200. x = 111.11. Original profit = 11.11. Profit percentage = 11.11%.

This question belongs to: Maths Profit And Loss

Question #2

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By selling an umbrella for Rs. 300, a shopkeeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% on the marked price. His gain percentage during the sale season is:

A. 7.5%

B. 8%

C. 9%

D. 7%

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Correct Answer: Option B

Explanation:
Marked Price = 300. Original SP = 300. Profit = 20%, so CP = 300 / 1.2 = 250. Discount during sale = 10% on MP. New SP = 300 - 30 = 270. Profit = 270 - 250 = 20. Profit % = (20 / 250) * 100 = 8%.

This question belongs to: Maths Profit And Loss