model 9 selling an article & interchanging its values 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 a man were to sell his chair for Rs.720, he would lose 25%. To gain 25% he should sell it for

(a) Rs.1,200

(b) Rs.960

(c) Rs.900

(d) Rs.1,000

The correct answers to the above question in:

Answer: (a)

CP of chair = $100/75 × 720$ = Rs.960

To gain 25%, SP = $125/100 × 960$ = Rs.1200

Using Rule 3,

C.P. = S.P.$(100/{100 - Loss%})$

= ${720 × 100}/{100 × 25}$

= $72000/75$ = Rs. 960

New S.P.= C.P.$({100 + Profit%}/100)$

= ${960 × 125}/100$ = Rs.1200

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Read more selling article changing values Based Quantitative Aptitude Questions and Answers

Question : 1

By selling a fan for Rs.600, a man loses 10%. To make a gain of 20%, the selling price of the fan should be

a) Rs.900

b) Rs.700

c) Rs.800

d) Rs.1000

Answer: (c)

C.P. of fan = Rs.$({600 × 100}/90)$

Required S.P. = ${600 × 100}/90 × 120/100$ = Rs.800

Using Rule 3,

C.P. = S.P.$(100/{100 - Loss%})$

= ${600 × 100}/{100 - 10}$

C.P. = $60000/90 = 6000/9$

New S.P. = C.P. × $({100 + Profit%}/100)$

= $6000/9({100 + 20}/100) = {60 × 120}/9$ = Rs.800

Question : 2

A man bought 20 dozen eggs for Rs.720. What should be the selling price of each egg if he wants to make a profit of 20% ?

a) Rs.3.25

b) Rs.3.50

c) Rs.3.60

d) Rs.3.30

Answer: (c)

Using Rule 1,

If S.P > C.P. then there will be profit

Profit = S.P. - C.P.

Profit% = ${\text"Profit" × 100}/{\text"C.P."}$

CP of 1 egg = $720/{20 × 12}$ = Rs.3

Required SP of 1 egg = $3 × 120/100$ = Rs.3.60

Question : 3

By selling a table for Rs.1140, a man loses 5%. in order to gain 5%, the table must be sold for

a) Rs.1260

b) Rs.1180

c) Rs.1250

d) Rs.1320

Answer: (a)

C.P. of table = 1140 × $100/95$ = Rs.1200

S.P. at 5% gain = ${1200 × 105}/100$ = Rs.1260

Using Rule 3,

C.P. = S.P.$(100/{100 - Loss%})$

= $1140(100/{100 - 5}) = 114000/95$ = Rs.1200

S.P. = C.P. ×$({100 + Profit %}/100)$

= $1200({100 + 5}/100)$

= $1200 × 105/100$ = Rs.1260

Question : 4

If a man were to sell his wristwatch for Rs.720, he would lose 25%. What price must he sell at for to gain 25% ?

a) Rs.960

b) Rs.1000

c) Rs.1200

d) Rs.900

Answer: (c)

C.P. of wrist watch = ${720 × 100}/75$ = Rs.960

Required S.P. = ${960 × 125}/100$ = Rs.1200

Question : 5

By selling an article for Rs.72, there is a loss of 10%. In order to gain 5%, its selling price should be :

a) Rs.87

b) Rs.80

c) Rs.84

d) Rs.85

Answer: (c)

C.P. of that article

= $72 × 100/{100 - 10} = {72 × 100}/90$ = Rs.80

S.P. of that article on 5% gain

= $80 × 105/100$ = Rs.84

Question : 6

By selling an article for Rs.69, there is a loss of 8%, when the article is sold for Rs.78, the gain or loss per cent is :

a) neither loss nor gain

b) 4% loss

c) 40% gain

d) 4% gain

Answer: (d)

SP of article = Rs.69

Loss % = 8%

CP = Rs.${100 × 69}/92$ = Rs.75

New SP = Rs.78

Gain % = ${78 - 75}/75$ × 100 = 4%

Using Rule 3,

C.P. = S.P. × $100/{100 - Loss%}$

= ${69 × 100}/{100 - 8}$

= $6900/92$ = Rs. 75

New S.P.= C.P.$({100 + Profit%}/100)$

78 = 75 × $({100 + Profit%}/100)$

7800 = 7500 + 75 Profit%

${7800 - 7500}/75$ = Profit %

$300/75$ = Profit%

Profit% = 4%

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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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