Model 1 Basic Concepts of C.P and S.P Section-Wise Topic Notes With Detailed Explanation And Example Questions

MOST IMPORTANT quantitative aptitude - 11 EXERCISES

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The following question based on profit & loss topic of quantitative aptitude

Questions : Nisha bought a number of oranges at 2 for a rupee and an equal number at 3 for a rupee. To make a profit of 20% she should sell a dozen for

(a) Rs.10

(b) Rs.8

(c) Rs.6

(d) Rs.12

The correct answers to the above question in:

Answer: (c)

Total oranges bought = 12 (let)

Their cost price = 3 + 2 = Rs.5

For profit of 20%,

S. P. = ${5 × 120}/100$ = Rs.6

Practice profit & loss (Model 1 Basic Concepts of C.P and S.P) Online Quiz

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Read more basic cp and sp Based Quantitative Aptitude Questions and Answers

Question : 1

The cost price of a radio is Rs.600. The 5% of the cost price is charged towards transportation. After adding that, if the net profit to be made is 15%, then the selling price of the radio must be

a) Rs.664.50

b) Rs.724.50

c) Rs.704.50

d) Rs.684.50

Answer: (b)

Actual C.P. of radio

= $600 + {600 × 5}/100 = Rs.630$

Required S.P.

= ${630 × 115}/100$ = Rs.724.50

Question : 2

If books bought at prices from Rs.150 to Rs.300 are sold at prices ranging from Rs.250 to Rs.350, what is the greatest possible profit that might be made in selling 15 books ?

a) Rs.4,250

b) Rs.750

c) Cannot be determined

d) Rs.3,000

Answer: (d)

Minimum cost price

= 150 × 15 = Rs.2250

Maximum selling price

= 350 × 15 = Rs.5250

Gain = 5250 - 2250 = Rs.3000

[150 being the lowest & 350 being the highest price]

Question : 3

By selling an article for Rs.960 a man incurs a loss of 4%; what was the cost price ?

a) Rs.498.4

b) Rs.784

c) Rs.1,000

d) Rs.300

Answer: (c)

Using Rule 3,
If an object is sold on r% Profit.

then,S.P. = C.P$[{100 + \text"Profit%"}/100]$
or
C.P. = S.P$[100/{100 + \text"Profit%"}]$

Similarly, If an object is sold on r% loss, then

S.P. = C.P.$[{100 - \text"Loss%"}/100]$
or
C.P. = S.P$[100/{100 - \text"Loss%"}]$

C.P. of article = $100/{100 - \text"loss per cent"}$ × S.P.

= $100/96 × 960$ = Rs.1000

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