A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs. 55 more, he would have had a profit of 40%. The cost price of the article is: MCQ with Answer and Explanation

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A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs. 55 more, he would have had a profit of 40%. The cost price of the article is:

A. Rs. 275

B. Rs. 200

C. Rs. 250

D. Rs. 225

Answer: Option C

Solution (By JKExamLibrary)

Let original CP = 100x. SP = 90x. New CP = 80x. New SP = 90x + 55. Profit is 40% of 80x = 32x. New SP = 80x + 32x = 112x. 112x - 90x = 55. 22x = 55. x = 2.5. CP = 100 * 2.5 = Rs. 250.

This question belongs to: Maths Profit And Loss

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Practice More Profit And Loss Questions

Question #1 Report Error

A shopkeeper incurs a 10% loss by selling an item for Rs. 1800. At what price should he sell the item to earn a 10% profit?

A. Rs. 2000

B. Rs. 2200

C. Rs. 2100

D. Rs. 2400

View Answer & Solution Discuss

Correct Answer: Option B

Explanation:
Cost price = Selling price / 0.90 = 1800 / 0.90 = Rs. 2000. Desired Selling price = 110% of Cost price = 1.10 * 2000 = Rs. 2200.

This question belongs to: Maths Profit And Loss

Question #2 Report Error

A person sells an article at a loss of 18%. If the selling price is Rs. 410, find the cost price.

A. Rs. 500

B. Rs. 480

C. Rs. 460

D. Rs. 520

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Correct Answer: Option A

This question belongs to: Maths Profit And Loss

Question #3 Report Error

If the cost price of an item is Rs. 240 and the selling price is Rs. 216, what is the loss percentage?

A. 8%

B. 15%

C. 10%

D. 12%

View Answer & Solution Discuss

Correct Answer: Option C

Explanation:
Loss = 24, loss% = 24/240*100=10%.

This question belongs to: Maths Profit And Loss

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