model 5 marked price 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 : 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

The correct answers to the above question in:

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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Read more marked price Based Quantitative Aptitude Questions and Answers

Question : 1

The cost price of an article is Rs.800. After allowing a discount of 10%, a gain of 12.5% was made. Then the marked price of the article is

a) Rs.1,000

b) Rs.1,200

c) Rs.1,300

d) Rs.1,100

Answer: (a)

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

${90x}/100 = {800 × 112.5}/100$

${9x}/10 = 900$

$x = {900 × 10}/9$ = Rs.1000

Question : 2

A shopkeeper allows 23% commission on his advertised price and still makes a profit of 10%. If he gains Rs.56 on one item, his advertised price of the item, (in Rs.) is

a) 820

b) 790

c) 800

d) 780

Answer: (c)

Let the advertised price be x.

S.P. = ${77x}/100$

C.P. = $({77x}/100 - 56)$

${77x - 5600}/100 × 110/100 = {77x}/100$

${77x - 5600}/100 = {77x}/110 = {7x}/10$

77x - 5600 = 70x

7x = 5600 ⇒ x = Rs.800

Question : 3

At what per cent above the cost price, must a shop–keeper marks his goods so that he gains 20% even after giving a discount of 10% on the marked price ?

a) 25%

b) 33$1/3$%

c) 37$1/2$%

d) 30%

Answer: (b)

Let the CP be Rs.100. Then, SP = Rs.120.

Let the marked price be x.

Then, 90% of x = 120

$x = {120 × 100}/90 = 400/3 = 133{1}/3%$

It means he should mark $33{1}/3%$ higher than CP.

Question : 4

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 : 5

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 : 6

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

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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