The selling price of an article is Rs. 720. If the profit is 20%, what is the cost price? MCQ with Answer and Explanation

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The selling price of an article is Rs. 720. If the profit is 20%, what is the cost price?

A. Rs. 580

B. Rs. 600

C. Rs. 620

D. Rs. 640

Answer: Option B

Solution (By JKSSB Mock Tests)

CP = 720/1.2 = 600.

This question belongs to: Maths Profit And Loss

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Question #1

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By selling 12 items for Rs. 60, a man loses 25%. How many items must he sell for Rs. 100 to gain 25%?

A. 12

B. 15

C. 10

D. 16

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Correct Answer: Option A

Explanation:
Selling Price of 12 items = 60. Selling Price of 1 item = 5. Cost Price of 1 item = 5 / 0.75 = 20 / 3. Desired Selling Price for 25% profit = (20 / 3) * 1.25 = 25 / 3. Number of items for Rs. 100 = 100 / (25 / 3) = 12 items.

This question belongs to: Maths Profit And Loss

Question #2

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A fruit seller buys lemons at 2 for a rupee and sells them at 5 for three rupees. What is his profit percentage?

A. 10%

B. 25%

C. 15%

D. 20%

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Correct Answer: Option D

Explanation:
CP of 1 lemon = 1/2 = 0.5. SP of 1 lemon = 3/5 = 0.6. Profit = 0.6 - 0.5 = 0.1. Profit % = (0.1 / 0.5) * 100 = 20%.

This question belongs to: Maths Profit And Loss

Question #3

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An article is sold at Rs. 720, incurring a loss of 10%. What is its cost price?

A. Rs. 850

B. Rs. 820

C. Rs. 780

D. Rs. 800

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Correct Answer: Option D

Explanation:
SP = 90% of CP => CP = 720 / 0.9 = 800.

This question belongs to: Maths Profit And Loss

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