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

ibps so prelims SYLLABUS WISE SUBJECTS MCQs

Number Systems

Average

Profit and Loss

Question :1

A shopkeeper allows 10% discount on goods when he sells without credit. Cost price of his goods is 80% of his selling price. If he sells his goods by cash, then his profit is

Answer: (c)

Let marked price of goods be Rs. 100.

Selling price of goods = 100 - $10/100 × 100$ = Rs. 90

Cost price of goods is 80% of its selling price

C.P. = $80/100 × 90$ = 72

Profit on goods = (90 – 72) = Rs. 18

Profit % = $18/72 × 100$ = 25%

Question :2

A person A sells a table costing Rs. 2000 to a person B and earns a profit of 6%. The person B sells it to another person C at a loss of 5%. At what price did B sell the table?

Answer: (d)

The cost price of table for person B

= 2000 + 6 × $2000/100$

= 2000 + 120 = Rs. 2120

Selling price = 2120 - ${2120 × 5}/100$

= 2120 – 106 = Rs. 2014

Question :3

If selling price is doubled, the profit triples, then the profit percent is

Answer: (c)

Question :4

An article is sold at a profit at 32%. If the cost price is increased by 20% and the sale price remains the same, then the profit percentage becomes

Answer: (b)

Let original cost price of artical be 100

Original selling price of artical

= $100 + 100 × 132/100$ = 132

Now New cost price after increase

= $100 + 100 × 20/100$ = 120

New selling price = 132

Profit = 132 – 120 = 12

Required % = $12/120 × 100$ = 10%

Question :5

Naresh purchased a TV set for Rs. 11250 after getting discount of 10% on the labelled price. He spent Rs. 150 on transport and Rs. 800 on installation. At what price should it be sold so that the profit earned would have been 15% if no discount was offered ?

Answer: (a)

Total cost price

= 11250 + 150 + 800 = Rs. 12200

Selling price

= 12200 × $115/100$ = Rs. 14030

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