profit and loss Model Questions & Answers, Practice Test for ibps so prelims 2023

Answer: (b)

Cost of 23 bracelet purchased at rate of Rs. 160/bracelet

= Rs. 23 × 160 = Rs. 3680

If profit earned is 15%, then

Profit amount = ${3680 × 15}/100$ = Rs. 552

Total amount Meera have after selling 23 bracelets

= 3680 + 552 = 4232

S.P. of one bracelet = $4232/23$ = Rs. 184

Answer: (a)

Let the quantity of milk purchased be x litres and quantity of water added to it be y litres.

Then ratio of water to milk will be y : x.

Now, CP = 6.4x and SP = 8(x + y)

and profit % = 37.5%

⇒ 8 (x + y) = 6.4 x × 1.375

⇒ 8x + 8y = 8.8x

⇒ 8y = 0.8x or $x/y = 80/8 = 10/1$

⇒ y : x = 1 : 10

Answer: (b)

Assume he bought 20 apples each.

Net investment ⇒ Rs. 5 + Rs. 4 = Rs. 9 for 40 apples.

He would sell 40 apples @ (40 × 2)/9 = Rs. 8.888 → Loss of Rs. 0.111 on Rs. 9 investment

Loss percentage = 1.23%

Answer: (c)

C.P. = $100/(100 + 5)$ × 21000

C.P = Rs. 20000

New profit = 15%

New S.P = $(100 + 15)/100 × 20000$ = Rs. 230000

∴ To get 15% profit he has to sell an article at Rs.23000.

Answer: (c)

Let the price of 1 article = Rs. 1

⇒ Loss = 20 C.P – 20 S.P.

⇒ 5C.P. = 20 C.P. – 20 S.P.

⇒ 20 S.P = 15 C.P

⇒ CP$_1$ of 20 articles = Rs. 20

⇒ SP$_1$ of 20 articles = Rs. 15

Also given that , had he purchased the 20 articles for 25% less and sold them for 33$1/3$% more, then

⇒ CP$_2$ of 20 articles = Rs. 15

⇒ CP$_2$ of 20 articles = Rs. 20

∴ Gain percentage = ${20 - 15}/15 × 100 = 33{1}/3$%