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. 900

C. Rs. 840

D. Rs. 800

Answer: Option D

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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Successive discounts of 30% and 10% are equivalent to a single discount of:

A. 40%

B. 42%

C. 45%

D. 37%

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Correct Answer: Option D

Explanation:
Equivalent discount = A + B - (AB/100) = 30 + 10 - (300/100) = 40 - 3 = 37%.

This question belongs to: Maths Profit And Loss

Question #2

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A trader marks his goods at 20% above CP and gives a discount of 10%. What is his profit percent?

A. 15%

B. 12%

C. 8%

D. 10%

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Correct Answer: Option C

Explanation:
Let CP=100, MP=120, SP=120*0.9=108, profit=8%.

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Question #3

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The cost price of 20 articles is equal to the selling price of 16 articles. Find the profit percentage.

A. 16.67%

B. 25%

C. 20%

D. 30%

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Correct Answer: Option B

Explanation:
Let CP of 1 = 1, CP of 20 = 20, SP of 16 = 20 => SP of 1 = 20/16 = 1.25, profit = 25%.

This question belongs to: Maths Profit And Loss

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