profit and loss Model Questions & Answers, Practice Test for ibps clerk prelims
A merchant purchases a wrist watch for Rs. 450 and fixes its list price in such a way that after allowing a discount of 10%, he earns a profit of 20%. Then the list price of the watch is
Answer: (b)
C.P. = Rs. 450; profit = 20%
∴ S.P. = $(100 + 20)/100 × 450$ = Rs. 540
Let the list price of the wrist watch be Rs.x.
Then discount @ 10% = Rs. $x × 10/100$ = Rs. $x/10$
∴ S.P. = $x - x/10$ = Rs. $9/10x$
According to quesiton, ${9x}/10$ = 540
$x = {540 × 10}/9$ = Rs. 600
A man sells an article at 5% profit. If he had bought it at 5% less and sold if for Rs. 1 less, he would have gained 10%. Find the cost price.
Answer: (c)
Let cost price = x
Then we have, $x(95/100)(110/100) = x(105/100) - 1$
or, $x = {100 × 100}/{105 × 100 - 95 × 100} × 200$
∴ Cost price = Rs. 200
A cloth merchant decides to sell his material at the cost price, but measures 80 cm for a metre. His gain % is.
Answer: (d)
Error in measurement = 100 – 80 = 20 cm
% gain = $(\text"Error"/\text"True value - Error" × 100) %$
% gain = $(20/{100 - 20}) × 100%$
= ${20 × 100}/80 %$ = 25%
A merchant earns a profit of 20% by selling a basket containing 80 apples which cost is Rs. 240 but he gives one-fourth of it to his friend at cost price and sells the remaining apples. In order to earn the same profit, at what price must he sell each apple?
Answer: (c)
Cost price of 1 apple = $240/80$ = Rs. 3
No. of apples give to his friend = $1/4$ × 80 = 20
Remaining apples = 80 – 20 = 60
Cost of apples to his friend = 20 × 3 = Rs. 60
Total SP at a profit of 20% = $240 × 120/100$ = Rs. 288
SP of remaining 60 apples = Rs. (288 – 60) = Rs. 228
SP of 1 apple = $228/60$ = Rs. 3.80
A shopkeeper marks an article at a price which gives a profit of 25%. After allowing certain discount, the profit reduces to 12$1/2$%. The discount percent is
Answer: (c)
Short cut method :
Net profit = Profit +Discount + ${\text"Profit × Discount"}/100$
$25/2$ = 25 - Discount - ${25 × \text"Discount"}/100$
('–' to represent discount)
$25/2 - 25 = {- 5}/4$ Discount
∴ Discount % = 10%
ibps clerk prelims IMPORTANT QUESTION AND ANSWERS
ibps clerk prelimsTOPICS
Read More
ibps clerk prelims 2024 SYLLABUS
Read More
ibps clerk prelims 2024 NOTIFICATION
Read More
All Exams
-
SSC
»
Model MCQ Test [Syllabus Wise], Syllabus, Notification -
BANKING
»
Model MCQ Test [Syllabus Wise], Syllabus, Notification -
TNPSC
»
Model MCQ Test [Syllabus Wise], Syllabus, Notification
RECENT BLOGS
Recently Added Subject & Categories For All Competitive Exams
100+ Quadratic Equation Questions Answers PDF for Bank
Quadratic Equation multiple choice questions with detailed answers for IBPS RRB SO. more than 250 Attitude practice test exercises for all competitive exams
Continue Reading »
IBPS Aptitude Linear Equations MCQ Questions Answers PDF
Linear equations multiple choice questions with detailed answers for IBPS RRB SO. more than 250 Attitude practice test exercises for all competitive exams
Continue Reading »
New 100+ Compound Interest MCQ with Answers PDF for IBPS
Compound Interest verbal ability questions and answers solutions with PDF for IBPS RRB PO. Aptitude Objective MCQ Practice Exercises all competitive exams
Continue Reading »
100+ Mixture and Alligation MCQ Questions PDF for IBPS
Most importantly Mixture and Alligation multiple choice questions and answers with PDF for IBPS RRB PO. Aptitude MCQ Practice Exercises all Bank Exams
Continue Reading »