profit and loss Model Questions & Answers, Practice Test for ibps clerk prelims
A shopkeeper marks up his goods by 20% and then gives a discount of 20%. Besides he cheats both his supplier and customer by 100 grams i.e., he takes 1100 gram from his supplier and sells only 900 grams to his customer. What is his net profit percentage?
Answer: (a)
Assume his CP = Rs. 1000/1100 gm
MP = Rs. 1200 and SP = Rs. 960/900 gm
So, SP/1100 gm = Rs. 1173.33
So, profit = Rs. 173.33
Profit percentage = 17.33%
Two dealers X and Y selling the same model of refrigerator mark them under the same selling prices. X gives successive discounts of 25% and 5% and Y gives successive discounts of 16% and 12%. From whom is it more profitable to purchase the refrigerator?
Answer: (a)
Assume marked price for both to be 100.
X's selling price = 100 ×0.75×0.95 = 71.25
Y's selling price = 100 × 0.84 × 0.88 = 73.92.
Buying from 'X' is more profitable.
A shopkeeper marks up his goods by 40% and gives a discount of 10%. Apart from this, he uses a faulty balance also, which reads 1000 gm for 800 gm. What is his net profit percentage?
Answer: (b)
Let us assume his CP/1000 gm = Rs. 100
So, his SP/kg (800 gm) = Rs. 126
So, his CP/800 gm = Rs. 80
So, profit = Rs. 46
So profit percentage = 46/80 ×100 = 57.5%
A fruit-vendor buys 200 bananas for Rs.10. How many bananas a rupee can he sell, so that his profit percentage is 25%?
Answer: (c)
CP of 1 banana = $10/200$ = 0.05 paisa
SP = CP × ${100 + \text"P"%}/100$
= 0.05 × $125/100$ = 0.0625
In 1 rupee he should sell = $1/0.0625$ = 16 bananas
If 5% more is gained by selling an article for Rs. 350 than by selling it for Rs. 340 the cost of the article is:
Answer: (c)
Let C.P. be Rs. x. Then, 5% of x = (350 – 340) = 10
⇒ $x/20$ = 10 ⇒ x = 200.
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