profit and loss Model Questions & Answers, Practice Test for ibps rrb po prelims
A person sells two watches for Rs. 500 each. On one he losts 10% and on the other he gained 10%. His gain or loss % is
Answer: (c)
Loss % = $x^2/100 % = (x/10)^2%$
% Loss = $(10/10)^2$ = 1%
A cycle agent buys 30 bicycles, of which 8 are first grade and the rest are second grade for Rs. 3150. Find at what price he must sell the first grade bicycles so that if he sells the second grade bicycles at third quarter of the price, he may make a profit of 40% on both the types of transactions ?
Answer: (c)
Let he sells first grade cycle at a rate of Rs. z per bicycle.
Then, $8z + {22 × 3}/4z = 3150 × 1.4$
⇒ 32z + 66z = 17640
⇒ 98z = 17640 ⇒ z = 180
He should sell the first grade bicycles at a rate of Rs. 180.
A man sold an article at a loss of 20%. If he sells the article for Rs. 12 more, he would have gained 10%. The cost price of the article is
Answer: (a)
S.P = C.P$(80/100)$ ⇒ S.P = $4/5$ C.P ...(1)
S.P + 12 = C.P$(110/100)$
S.P = $11/10$ C.P - 12 ...(2)
From eqs. (1) and (2)
$4/5$ C.P = $11/10$ C.P - 12
$11/10$ C.P - $4/5$ C.P = 12
C.P = Rs. 40
When the original price of a toy was increased by 25% the price of one dozen toys was Rs. 300. What was the original price of one toy?
Answer: (e)
Cost price of 12 toy's
= SP × $100/{100 + \text"Profit%"}$
= $300 × 100/125$ = 240
CP of 1 toy = $240/120$ = 20.
The profit earned after selling a pair of shoes for Rs. 2,033 is the same as loss incurred after selling the same pair of shoes for Rs. 1,063. What is the cost of the shoes ?
Answer: (a)
Le the CP of the shoes be Rs. x.
∴ 2033 - x = x - 1063
⇒ 2x = 2033 + 1063 = 3096
⇒ $x = 3096/2$ = Rs.1548
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