profit and loss Model Questions & Answers, Practice Test for ibps rrb po prelims
A man sold two watches, each for Rs. 495. If he gained 10% on one watch and suffered a loss of 10% on the other, then what is the loss or gain percentage in the transaction?
Answer: (a)
Loss/gain per cent = $(10 - 10 - {10 × 10}/100) %$ = -1%
(- sign indicate that there is a loss of 1%)
A manufacturer sells a pair of glasses to a wholesale dealer at a profit of 18%. The wholesaler sells the same to a retailer at a profit of 20%. The retailer in turn sells them to a customer for Rs. 30.09, thereby earning a profit of 25%. The cost price for the manufacturer is
Answer: (c)
Let the cost price for the manufacturer be Rs.x.
Then, 125% of 120% of 118% of x = 30.09.
⇒ $125/100 × 120/100 × 118/100x = 3009/100$
⇒ $177/100x = 3009/100$
⇒ $x = 3009/177$ = 17.
A man would gain 20% by selling a chair for Rs. 47.5 and would gain 15% by selling a table for Rs. 57.5. He sells the chair for Rs. 36, what is the least price for which he must sell the table to avoid any loss on the two together
Answer: (d)
C.P. of the chair = Rs. 47.5 × $100/120$ = Rs. 39.6
C.P. of the table = Rs. 57.5 × $100/115$ = Rs. 50
⇒ The required S.P. for the table
= Rs. 39.6 + Rs. 50 - Rs. 36 = Rs. 53.6
The C.P. of a book is Rs.150. At what price should it be sold to gain 20%?
Answer: (c)
SP = CP × $(100 + \text"P"%)/100$
= 150 × $120/100$ = 180
A milk vendor bought 28 l of milk at the cost of Rs. 8.50 per l. After adding some water, he sold the mixture at the same price. If he gains 12.5%, how much water did he add?
Answer: (c)
Total C.P. of milk = 28 × 8.50 = Rs. 238
Profit = 12.5% of 238
= $12.5/100$ × 238 = 29.75
Let he added x l of water.
∴ Profit = x × 8.5
29.75 = x × 8.5
∴ x = 3.5 l
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