model 5 marked price 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

Questions : If the sales tax be reduced from 3$1/2$% to 3$1/3$% , what difference does it make to a person who purchases an article whose marked price is 8,400 ?

(a) Rs.20

(b) Rs.14

(c) Rs.10

(d) Rs.15

The correct answers to the above question in:

Answer: (b)

Difference in percentage of sales tax

= $7/2 - 10/3 = {21 - 20}/6 = 1/6$%

Required difference

= $1/6$% of 8400

= $1/6 × 1/100 × 8400$ = Rs.14

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Read more marked price Based Quantitative Aptitude Questions and Answers

Question : 1

By selling an article at $2/3$ of the marked price, there is a loss of 10%. The profit percent, when the article is sold at the marked price, is

a) 20%

b) 35%

c) 40%

d) 30%

Answer: (b)

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$[100/{100 - \text"Loss%"}]$

Suppose marked price = Rs.x

S.P.= Rs.${2x}/3$

CP = ${2x}/{3 × 90} × 100 = {20x}/27$

Profit at marked price = $x - {20x}/27 = {7x}/27$

Per cent profit = ${{7x}/27}/{{20x}/2} × 100$

= ${7x}/27 × 27/{20x} × 100$ = 35%

Question : 2

A tradesman allows a discount of 15% on the marked price. How much above the cost price must he mark his goods as to gain 19%?

a) 34%

b) 25%

c) 30%

d) 40%

Answer: (d)

Let the CP of the article be Rs.100.

SP = Rs. 119

If the marked price be Rs.x, then,

$85/100 of x$ = 119

$85/100 × x = 119$

$x = {119 × 100}/85 = 140$

Clearly, the marked price is 40% above the cost price.

Question : 3

Rita bought a television set with 20% discount on the labelled price. She made a profit of Rs.800 by selling it for Rs.16,800. The labelled price of the set was

a) Rs.18,000

b) Rs.20,800

c) Rs.24,000

d) Rs.20,000

Answer: (d)

Let the marked price of the television be Rs.x.

CP for Rita = Rs.(16800 - 800) = Rs.16000

80% of x = 16000

$x = {16000 × 100}/80$ = Rs.20000

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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
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