If the selling price of an article is Rs. 336 and the profit is 12%, find the cost price. MCQ with Answer and Explanation

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If the selling price of an article is Rs. 336 and the profit is 12%, find the cost price.

A. Rs. 290

B. Rs. 320

C. Rs. 300

D. Rs. 310

Answer: Option C

Solution (By JKSSB Mock Tests)

CP = 336 / 1.12 = 300.

This question belongs to: Maths Profit And Loss

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Question #1

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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

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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 #2

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

A. 30%

B. 20%

C. 25%

D. 33.33%

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Correct Answer: Option C

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