profit and loss Model Questions & Answers, Practice Test for ibps po prelims
What profit per cent is made by selling an article at a certain price, if by selling at two-third of that price there would be a loss of 20%?
Answer: (d)
Let the cost price be = Rs. 100.
$2/3$ rd of original SP = 100 – 20% of 100 = Rs. 80
∴ Original SP = ${80 × 3}/2$ = Rs. 120
∴ % profit = ${120 - 100}/100$ × 100 = 20%
The marked price of an item is twice the cost price. For a gain of 15%, the discount should be
Answer: (d)
Marked Price, M = 2C, where C is cost price for 15%
gain, S.P. = C + $15/100$ = 1.15C
Let discount be x%
2C – $x/100$ × 2C = 1.15C ⇒ x = 42.5%
The sale price of an article including the sales tax is Rs. 616. The rate of sales tax is 10%. If the shopkeeper has made a profit of 12%, then the cost price of the article is :
Answer: (b)
Let the CP of the article be Rs. x
Then, SP = x × 1.12 × 1.1
Now, x × 1.12 × 1.1 = 616
$x = 616/1.232$ = Rs.500
A person purchases 100 pens at a discount of 10%. The net amount of money spent by the person to purchase the pens is Rs. 600. The selling expenses incurred by the person are 15% on the net cost price. What should be the selling price for 100 pens in order to earn a profit of 25%?
Answer: (c)
Cost price = Money spent by the person to purchase + selling expenses
$600 + (600 × 15/100) = 690$
Hence, selling price = $690(1 + 25/100)$ = 862.50
A man sold 250 chairs and had a gain equal to selling price of 50 chairs. His profit per cent is:
Answer: (a)
Percentage profit = ${250 - 200}/200 × 100$ = 25%
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