profit and loss Model Questions & Answers, Practice Test for ibps rrb po prelims

ibps rrb po prelims SYLLABUS WISE SUBJECTS MCQs

Number System

Profit & Loss

Averages

Percentages

Question :6

A trader marked a watch 40% above the cost price and then gave a discount of 10%. He made a net profit of Rs. 468 after paying a tax of 10% on the gross profit. What is the cost price of the watch?

Answer: (c)

Let the cost price of the watch = Rs. x

After 40% marked price and 10% discount

= $x × 90/100 × 140/100 = {126x}/100$

Profit = ${126x}/100 - x = {26x}/100$

According to question,

10% pay tax on profit

= ${26x}/100 × 90/100$ = 468

$x = {468 × 100 × 100}/{26 × 90}$ = Rs. 2000

Question :7

Prabhu purchased 30 kg of rice at the rate of Rs. 17.50 per kg and another 30 kg rice at a certain rate. He mixed the two and sold the entire quantity at the rate of Rs. 18.60 per kg and made 20 per cent overall profit. At what price per kg did he purchase the lot of another 30 kg rice?

Answer: (d)

Let he purchase of Rs. x/kg.

$(525 + 30x) × 120/100 = 60 × 18.60$

⇒ x = Rs. 13.5 / kg.

Question :8

If books bought at prices ranging from Rs. 150 to Rs. 300 are sold at prices ranging from Rs. 250 to Rs. 350, what is the greatest possible profit that might be made in selling 15 books ?

Answer: (b)

Least cost price = Rs.(150×15) = Rs.2250

Greatest selling price = Rs.(350×15) = Rs.5250

Required profit = Rs.(5250 - 2250) = Rs.3000

Question :9

A shopkeeper marked the selling price of his goods in such a way that after giving a discount of 10% he gains 17%. How much per cent above the cost price is the marked price?

Answer: (c)

C.P. of the article = Rs. 100 and marked price = Rs. x

∴ $x × 90/100 = 117$

⇒ $x = {117 × 100}/90$ = 130 = 30% above C.P.

Question :10

A trader who marks his goods up to 50% offered a discount of 20%. What % profit the trader makes after offering the payment?

Answer: (c)

Let cost price of goods be Rs. 100

Trader mark up at 50% more i.e. 150

Selling price of goods = $150 - 20/100 × 150 = 120$

Profit % = ${120 - 100}/100 × 100$ = 20

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