profit and loss Model Questions & Answers, Practice Test for ibps po prelims
By selling goods for Rs. 153, a man loses 10%. For how much should he sell them to gain 20%?
Answer: (a)
By rule of fraction :
$153 (100/90)(120/100)$ = Rs. 204
If an article is sold at a gain of 6% instead of a loss of 6%, the seller gets Rs. 6 more. What is the cost price of the article?
Answer: (d)
Let C.P be Rs.100x
∴ 106x – 94x = 6
⇒ 12x = 6
$x = 1/2$
∴ $100x = 100 × 1/2$ = Rs.50
The profit earned after selling an article for Rs. 1,754 is the same as loss incurred after selling the article for Rs. 1,492. What is the cost price of the article?
Answer: (b)
Cost price = ${1754 + 1492}/2$ = Rs. 1623
$2/3$ of a consignment was sold at 6 % profit and the rest at a loss of 3 %. If there was an overall profit of Rs. 540, find the value of the consignment.
Answer: (a)
Value of consignment = ${540 × 100}/1$
= ${540 × 100}/{4 - 1}$
= $2/3 × 6 + 1/3(- 3)$ = Rs. 18,000
A shopkeeper purchased a table marked at Rs. 200 at successive discount of 10% and 15% respectively. He spent Rs. 7 on transportation and sold the table for Rs. 200. Find his gain %?
Answer: (a)
C.P. = $200(1 - 10/100)(1 - 15/100) + 7$
= ${200 × 90 × 85}/{100 × 100}$ + 7 = Rs. 153 + 7 = Rs. 160
∴ % gain = ${200 - 160}/160 × 100 = 40/160 × 100$ = 25%
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