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 : 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

The correct answers to the above question in:

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

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

Question : 1

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 : 2

If an article is sold for Rs.178 at a loss of 11%, what should be its selling price in order to earn a profit of 11%?

a) Rs.222.50

b) Rs.435

c) Rs.222

d) Rs.267

Answer: (c)

89% of the cost price = Rs.178

111% of the cost price

= Rs.$178/89$ ×111= Rs.222

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. = $178 × 100/{100 - 11} = 17800/89$

C.P. = 200

S.P. = $200 × ({100 + 11}/100)$ = Rs.222

Question : 3

By selling an article for Rs.480 a person lost 20%. For what should he sell it to make a profit of 20%?

a) Rs.800

b) Rs.720

c) Rs.680

d) Rs.760

Answer: (b)

According to question,

S.P. = Rs.480, Loss% = 20%

Cost price = $100/80 × 480$ = Rs.200

Required price = $120/100 × 600$ = Rs.720

Question : 4

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 : 5

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

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

Question : 6

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

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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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