Model 1 Basic Concepts of C.P and S.P Section-Wise Topic Notes With Detailed Explanation And Example Questions
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The following question based on profit & loss topic of quantitative aptitude
(a) Rs.664.50
(b) Rs.724.50
(c) Rs.704.50
(d) Rs.684.50
The correct answers to the above question in:
Answer: (b)
Actual C.P. of radio
= $600 + {600 × 5}/100 = Rs.630$
Required S.P.
= ${630 × 115}/100$ = Rs.724.50
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Read more basic cp and sp Based Quantitative Aptitude Questions and Answers
Question : 1
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 »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 : 2
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 »Answer: (c)
Using Rule 3,If an object is sold on r% Profit.
then,S.P. = C.P$[{100 + \text"Profit%"}/100]$orC.P. = S.P$[100/{100 + \text"Profit%"}]$
Similarly, If an object is sold on r% loss, then
S.P. = C.P.$[{100 - \text"Loss%"}/100]$orC.P. = S.P$[100/{100 - \text"Loss%"}]$
C.P. of article = $100/{100 - \text"loss per cent"}$ × S.P.
= $100/96 × 960$ = Rs.1000
Question : 3
By selling a car for Rs.64,000, Mr. Rao lost 20%. Then the cost price of the car is :
a) Rs.80,000
b) Rs.76,800
c) Rs.72,000
d) Rs.84,000
Answer »Answer: (a)
Using Rule 3,
Cost price = ${64000 × 100}/80$ = Rs.80000
Question : 4
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
Answer »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
GET profit & loss PRACTICE TEST EXERCISES
Model 1 Basic Concepts of C.P and S.P
model 2 gain lost percentage
model 3 gain/loss % with C.P/S.P
model 4 sold & brought
model 5 marked price
model 6 sold in circular path
model 7 sold at loss
model 8 two article sold in different rates
model 9 selling an article & interchanging its values
model 10 reduced/increased price of an article
model 11 ratio & partnership
profit & loss Shortcuts and Techniques with Examples
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Model 1 Basic Concepts of C.P and S.P
Defination & Shortcuts … -
model 2 gain lost percentage
Defination & Shortcuts … -
model 3 gain/loss % with C.P/S.P
Defination & Shortcuts … -
model 4 sold & brought
Defination & Shortcuts … -
model 5 marked price
Defination & Shortcuts … -
model 6 sold in circular path
Defination & Shortcuts … -
model 7 sold at loss
Defination & Shortcuts … -
model 8 two article sold in different rates
Defination & Shortcuts … -
model 9 selling an article & interchanging its values
Defination & Shortcuts … -
model 10 reduced/increased price of an article
Defination & Shortcuts … -
model 11 ratio & partnership
Defination & Shortcuts …
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