The cost price of an article is Rs. 400. If it is sold at a loss of 5%, what is the selling price? MCQ with Answer and Explanation

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The cost price of an article is Rs. 400. If it is sold at a loss of 5%, what is the selling price?

A. Rs. 390

B. Rs. 385

C. Rs. 380

D. Rs. 370

Answer: Option C

Solution (By JKSSB Mock Tests)

Loss = 5% of 400 = 20, SP = 400 - 20 = 380.

This question belongs to: Maths Profit And Loss

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Question #1

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By selling 45 lemons for Rs. 40, a man loses 20%. How many should he sell for Rs. 24 to gain 20%?

A. 20

B. 18

C. 16

D. 22

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Correct Answer: Option B

Explanation:
Selling Price of 45 lemons = 40. Cost Price of 45 lemons = 40 / 0.80 = 50. Desired Selling Price for 45 lemons for 20% profit = 50 * 1.20 = 60. To get Rs. 60, he sells 45 lemons. To get Rs. 24, he must sell (45 / 60) * 24 = 18 lemons.

This question belongs to: Maths Profit And Loss