If the selling price of an article is Rs. 420 and the profit is 5%, find the cost price. MCQ with Answer and Explanation

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If the selling price of an article is Rs. 420 and the profit is 5%, find the cost price.

A. Rs. 390

B. Rs. 400

C. Rs. 420

D. Rs. 410

Answer: Option B

Solution (By JKSSB Mock Tests)

CP = 420/1.05 = 400.

This question belongs to: Maths Profit And Loss

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Question #1

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By selling a product for Rs. 425, a man loses 15%. To gain 5%, at what price should he sell?

A. Rs. 525

B. Rs. 550

C. Rs. 475

D. Rs. 500

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Correct Answer: Option A

Explanation:
Cost Price = 425 / 0.85 = 500. Selling Price for 5% gain = 500 * 1.05 = 525.

This question belongs to: Maths Profit And Loss

Question #2

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A person buys 100 items at Rs. 50 each and sells them at Rs. 60 each. What is the profit percentage?

A. 25%

B. 30%

C. 15%

D. 20%

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Correct Answer: Option D

Explanation:
CP = 5000, SP = 6000, profit = 1000, profit% = 1000/5000*100=20%.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper sells a fan for Rs. 630, gaining 5%. Find the cost price.

A. Rs. 580

B. Rs. 620

C. Rs. 600

D. Rs. 640

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Correct Answer: Option C

Explanation:
CP = 630 / 1.05 = 600.

This question belongs to: Maths Profit And Loss

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