profit and loss Model Questions & Answers, Practice Test for ibps rrb po prelims
Each of the two cars is sold at the same price. A profit of 10% is made on the first and a loss of 7% is made on the second. What is the combined loss or gain ?
Answer: (a)
Shortcut :
${100(10 - 7) - 2 × 10 × 7}/{200 + 10 - 7}$
= $160/203%$ gain as the sign is+ve.
A dishonest grocer sells rice at a profit of 10% and also uses weights which are 20% less than the marked weight. The total gain earned by him will be
Answer: (a)
Let us consider a packet or rice marked 1kg. It's actual weight is 80% of 1000 gm = 800 gm
Let C.P. of each gm be Rs.1.
Then, C.P. of this packet = Rs. 800
S.P. of this packet = 110% of C.P. of 1kg
= $110/100 × 1000$ = Rs.1110
∴ Gain % = $(1100 - 800)/1100 × 100$ = 37.5%
A dealer sold a radio at a loss of 2.5%. Had he sold it for Rs. 100 more, he would have gained 7$1/2$% . In order to gain 12$1/2$%, he should sell it for:
Answer: (d)
Let the cost price of radio be Rs. 1000.
Dealer sold it at a loss of 2.5%
i.e. selling price = 997.5
When he sold it Rs. 100 more, then selling price = 1007.5
(gain = 7$1/2$ %)
Now, In order to gain 12$1/2$ %,
Selling price will be 1000 × $25/200 + 1000$ = 1125.
Ramesh purchased a bicycle for Rs. 5,200 and spent Rs. 800 on its repairs. He had to sell it for Rs. 5,500. Find his profit or loss per cent.
Answer: (d)
Cost price of bicycle = Rs. 5,200.
He spent Rs. 800 on it's repairs
∴ C.P. = 5200 + 800 = 6000.
Selling price = Rs. 5, 500
∴ Loss = 6000 - 5500 = 500
Hence, loss % = $500/6000 × 100$ = 8.33%
A man buys a television set which lists for Rs. 5000 at 10% discount. He gets an additional 2% discount (after the first discount) for paying cash. What does he actually pay for the set?
Answer: (b)
Actual payment for the television set
= 98% of 90% of 5000 = Rs. 4410
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