profit and loss Model Questions & Answers, Practice Test for ibps clerk prelims 2023

ibps clerk prelims 2023 SYLLABUS WISE SUBJECTS MCQs

Ratio & Proportion

Percentages

Profit & Loss

Time & Work

Time & Distance

Simple Interest & Compound Interest

Mensuration: Area & Volumes

Algebraic Expressions

Trigonometric Ratios & Identity

Linear Equations

Quadratic Equations

Logarithm

Click To More Exercise For Profit & Loss
Question :1

In respect of a bill of Rs. 10000, what is the difference between a discount of 40% and two successive discounts of 36% and 4%?

Answer: (a)

Two successive discounts

= $36 + 4 - {36 × 4}/100$ = 38.56%

∴ Difference between discounts

= 40% – 38.56% = 1.44%

∴ Required difference = 10000 × 1.44%

= ${10000 × 1.44}/100$ = Rs. 144

Question :2

A fruit-seller buys lemons at 2 for a rupee and sells them at 5 for three rupees. What is his gain per cent?

Answer: (c)

Rs. 1 = 2 lemons × CP

Rs. 1 = $5/3$ lemons × SP

⇒ 2 × CP = $5/3$ × SP

⇒ 6 CP = 5 SP

⇒ $\text"SP"/\text"CP" = 6/5$ (Here SP > CP, then profit)

Both sides substract 1

$\text"SP - CP"/\text"CP" = 1/5$

Profit per cent = $1/5$ × 100 = 20%

Question :3

By selling goods for Rs. 240, a merchant gains 25%. How much per cent would he gain by selling it for Rs. 216?

Answer: (b)

CP = 240$(100/125)$ = Rs. 192

profit = ${216 - 192}/192 × 100$

= $25/2 = 12{1}/2%$

Question :4

A sofa set carrying a sale price ticket of Rs. 5,000 is sold at a discount of 4% there by the trader earns a profit of 20%. The traders cost price of the sofa set is

Answer: (c)

CP = ${5000 × (100 - 4)}/(100 + 20) = {5000 × 96}/120$ = Rs.4000

Question :5

A person sold an article for Rs. 136 and got 15% loss. Had he sold it for Rs. x, he would have got a profit of 15%. Which one of the following is correct?

Answer: (a)

Cost Price = $\text"Selling price"/{1 - {\text"Loss"%}/100} = 136/{1 - 15/100}$

= ${136 × 100}/85$ = Rs. 160

Selling price (x) = ${160 × (100 + 15)}/100 = {160 × 115}/100$

= Rs. 184

∴ Hence, option (b) is correct because 180 < x < 190.

Click To More Exercise For Profit & Loss
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