profit and loss Model Questions & Answers, Practice Test for ibps po prelims
What was the percent profit on the transaction?
Answer: (c)
SP = 6272 × 95% = 5958.4
Profit = 5958.4 – 5600 = 358.4
Profit% = $358.4/5600 × 100$ = 6.4%
A shopkeeper increases the cost price of an item by 20% and offers a discount of 10% on this marked price. What is his percentage gain ?
Answer: (d)
Let CP = 100
MP = 120
SP after giving discount = 108
Profit = 8%
Manhar sold an item for Rs.8400 and incurred a loss of 25%. At what price should be have sold the item to have gained a profit of 40%?
Answer: (b)
C.P. = ${\text"SP" × 100}/{100 - \text"loss%"}$
= 8400 × $100/{100 - 25}$ = 11,200
S.P. = CP × ${100 + \text"P"%}/100$
= 11,200 × $140/100$ = 15,680
A man sells two watches for Rs. 99 each. On one he gained 10% and on the other he lost 10%. His gain or loss per cent is ________ .
Answer: (b)
There is always a loss in such case and the loss
$% (10)^2/100 %$ = 1%
A man purchases two clocks A and B at a total cost of Rs. 650. He sells A with 20% profit and B at a loss of 25% and gets the same selling price for both the clocks. What are the purchasing prices of A and B respectively?
Answer: (a)
Let the cost price of clocks A and B be 'a' and (650–a) respectively.
Selling price for A = Selling price for B
$a(1 + 20/100) = (650 – a) (1 - 25/100)$
$({120a}/100) = (650 – a) (75/100)$
a = 250
Cost price for B = 650 – 250 = 400
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