If the selling price of an article is Rs. 320 and the loss is 20%, what is the cost price? MCQ with Answer and Explanation

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If the selling price of an article is Rs. 320 and the loss is 20%, what is the cost price?

A. Rs. 380

B. Rs. 360

C. Rs. 420

D. Rs. 400

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 320/0.8 = 400.

This question belongs to: Maths Profit And Loss

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Question #1

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A dealer marks his goods 25% above cost and gives a discount of 10%. What is his profit percent?

A. 12.5%

B. 10%

C. 20%

D. 15%

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Correct Answer: Option A

Explanation:
Let CP=100, MP=125, SP=125*0.9=112.5, profit=12.5%.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper sells a product for Rs. 770, gaining 10%. Find the cost price.

A. Rs. 720

B. Rs. 700

C. Rs. 750

D. Rs. 680

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Correct Answer: Option B

Explanation:
CP = 770 / 1.10 = 700.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper sells an item at a profit of 25%. If the cost price is Rs. 800, what is the selling price?

A. Rs. 1100

B. Rs. 1050

C. Rs. 1000

D. Rs. 900

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Correct Answer: Option C

Explanation:
SP = CP + 25% of CP = 800 + 200 = Rs. 1000.

This question belongs to: Maths Profit And Loss

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