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. 800

B. Rs. 700

C. Rs. 840

D. Rs. 900

Answer: Option A

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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Ravi sold an item for Rs. 4600 and incurred a loss. Had he sold it for Rs. 5800, his profit would have been double the loss. Find the cost price.

A. Rs. 5200

B. Rs. 5000

C. Rs. 4800

D. Rs. 5400

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Correct Answer: Option B

Explanation:
Let CP be x. Loss = x - 4600. Profit = 5800 - x. Given: 5800 - x = 2 * (x - 4600). 5800 - x = 2x - 9200. 3x = 15000. x = 5000.

This question belongs to: Maths Profit And Loss

Question #2

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A trader marks his goods 50% above cost and gives a discount of 40%. What is his profit or loss percent?

A. Loss 10%

B. Profit 10%

C. Loss 5%

D. No profit no loss

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 150, SP = 150*0.6 = 90, loss = 10%.

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Question #3

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Person A sells an article to B at a 15% profit. B sells it to C at a 20% profit. If C pays Rs. 3450, find the cost price for A.

A. Rs. 2600

B. Rs. 2500

C. Rs. 2200

D. Rs. 2400

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Correct Answer: Option B

Explanation:
Let A's Cost Price = X. X * 1.15 * 1.20 = 3450. 1.38X = 3450. X = 2500.

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