If the selling price of an article is Rs. 960 and the profit earned 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. 960 and the profit earned is 20%, what is the cost price?

A. Rs. 700

B. Rs. 800

C. Rs. 900

D. Rs. 840

Answer: Option B

Solution (By JKSSB Mock Tests)

Selling Price = 120% of Cost Price. Therefore, 1.2 * CP = 960. CP = 960 / 1.2 = Rs. 800.

This question belongs to: Maths Profit And Loss

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Question #1

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A man buys a product for Rs. 240 and sells it for Rs. 300. What is the profit percentage?

A. 15%

B. 20%

C. 25%

D. 30%

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Correct Answer: Option C

Explanation:
Profit = 60, profit% = 60/240*100=25%.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper sells a shirt for Rs. 720, gaining 20%. What is the cost price?

A. Rs. 640

B. Rs. 680

C. Rs. 560

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 shopkeeper buys 200 pens at Rs. 12 each and sells 150 pens at Rs. 15 each and the remaining at Rs. 10 each. What is his profit or loss percentage?

A. Profit 10%

B. No profit no loss

C. Loss 6.25%

D. Profit 6.25%

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Correct Answer: Option D

This question belongs to: Maths Profit And Loss

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