profit and loss Model Questions & Answers, Practice Test for ibps clerk prelims
A property dealer sells a house for Rs. 6,30,000 and in the bargain makes a profit of 5%. Had he sold it for Rs. 5,00,000, then what percentage of loss or gain he would have made?
Answer: (d)
C.P. = Rs. $(100/105 × 630000)$ = Rs. 600000.
∴ Required loss % = $(100000/600000 × 100)% = 16{2}/3$%.
A dishonest dealer prefers to sell his goods at cost price but uses less weight for a kg weight and gains 4$1/6$%. What does he use for a kg weight?
Answer: (c)
$100 × 1000/x - 100 = 25/6$
x = 960 gm
A shopkeeper labelled the price of his articles so as to earn a profit of 30% on the cost price. He, then sold the articles by offering a discount of 10% on the labelled price. What is the actual per cent profit earned in the deal?
Answer: (e)
Let the cost price of the articles be Rs.100
Marked Price = Rs.130
After giving a discount of 10% the selling price of the articles
= 0.9 × 130 = 117
So, actual profit per cent = $(117 - 100)/100 × 100$ = 17%
It is known that the shopkeeper takes a discount of 10% from his supplier and he disregards this discount while marking up (i.e., he marks up at the undiscounted price), find the percentage profit for the shopkeeper if there is no other change from the previous problem.
Answer: (d)
The new situation is Buying:
1100 grams for Rs.900
Hence, 1320 grams for Rs. 1080
Selling: 900 grams for Rs. 1080
Profit % = $420/900 × 100$ = 46.66%
Dolly goes to a shop to purchase a doll priced at Rs. 400. She is offered 4 discount options by the shopkeeper. Which of these options should she opt for to gain maximum advantage of the discount offered?
Answer: (b)
She should opt for a straight discount of 30% as that gives her the maximum benefit.
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