profit and loss Model Questions & Answers, Practice Test for ibps clerk prelims
A person selling an article for Rs. 96 finds that his loss per cent is one — fourth of the amount of rupees that he paid for the article. What can be the cost price?
Answer: (c)
Let the cost price of an article = Rs. x
Selling price of an article = Rs. 96
According to the question,
${x - 96}/x × 100 = 1/4 × x$
⇒ $400x – 96 × 400 = x^2$
⇒ $x^2 – 400x + 38400$ = 0
⇒ $x^2 – 160x – 240x + 38400$ = 0
⇒ $x(x – 160x) – 240(x – 160)$ = 0
⇒ $(x – 160) (x – 240)$ = 0
∴ $x$ = 160 or 240
Hence, the cost price of an article is Rs. 160 or Rs. 240.
A shopkeepers sells an article at 12$1/2$% loss. If he sells it for Rs. 92.50 more, then he gains 6%. What is the cost price of the article?
Answer: (a)
S.P. = 100 – 12.5 = Rs. 87.5
S.P. after 6% gain = Rs. 106
Difference = Rs. 18.5
∴ C.P. = $92.5/18.5 × 100$ = Rs.500
Mohan bought a watch with 25% discount on the selling price. If the watch cost him Rs. 1,545, what is the original selling price of the watch?
Answer: (e)
Let the marked price (SP) = Rs. x
According to the question,
75% of x = 1545
or, x = ${1545 × 100}/75$ = Rs. 2060
A bookseller marks his books at an advance of 69% on the actual cost of production. He allows a discount of 15% and also given a copy free for every dozen sold at a time. What rate per cent profit does the bookseller make, if books are sold in lots of 12 ?
Answer: (b)
CP = Rs. X/dozen = 0.833/copy
So, MP = 1.69 x/dozen
SP = Rs. 1.4365 x/13 copies = 0.1105 x/copy
So, profit = 32.6%
A shopkeeper bought 150 calculators at the rate of Rs. 250 per calculator. He spent Rs. 2500 on transportation and packing. If the marked price of calculator is Rs. 320 per calculator and the shopkeeper gives a discount of 5% on the marked price then what will be the percentage profit gained by the shopkeeper?
Answer: (a)
CP of 150 calculators = 150 × 250 = Rs. 37,500.
[ total CP = 37,500 + 2500 = Rs. 40,000
Marked price of 150 calculators = 150 × 320 = Rs. 48,000
Selling price after discount = 48000 × $95/100$ = Rs. 45,600
Percentage profit = ${45, 600 - 40, 000}/{40, 000} × 100$ = 14%
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