profit and loss Model Questions & Answers, Practice Test for ibps so prelims
The profit by selling an item was 25%. If the item was marked 40% above the selling price then what is the ratio of the marked price to the cost price of the item?
Answer: (a)
Let the cost price of an item = Rs. 100,
then, selling price = Rs. 125
(∵ Profit by selling is 25%)
Now, marked price is 40% above the selling price
∴M.P = 125 + 125 × $40/100$
⇒ Marked price = $125(1 + 40/100)$ = 175
Hence, $\text"Marked price"/\text"Cost price" = 175/100 = 7/4$
If books bought at prices ranging from Rs.150 to Rs.300 are sold at prices ranging from Rs.250 to Rs.350, what is the greatest possible profit that might be made in selling 15 books?
Answer: (b)
Min. C.P = Rs. 150
Max. SP = Rs. 350
Profit = 350 – 150 = 200
Profit on 15 books = 200 × 15 = 3000
Each of A and B sold their article at Rs. 1818 but A incurred a loss of 10% while B gained by 1%. What is the ratio of cost price of the articles of A to that of B?
Answer: (b)
CP of A = $1818/0.9 = 2020$
CP of B = $1818/1.01 = 1800$
$\text"CP of A"/\text"CP of B" = 2020/1800 = 101/90$ = 101 : 90
A company blends two varieties of tea from two different tea gardens, one variety costing Rs. 20 per kg and other Rs. 25 per kg, in the ratio 5 : 4. He sells the blended tea at Rs. 23 per kg. Find his profit per cent :
Answer: (c)
Let the quantity of two varieties of tea be 5x kg and 4x kg, respectively.
Now, SP = 23 × 9x = 207x
and CP = 20 × 5x + 25 × 4x = 200x
Profit % = ${7x}/{200x} × 100 = 3.5%$
A, B and C invest in the ratio of 3 : 4 : 5. The percentage of return on their investments are in the ratio of 6 : 5 : 4. Find the total earnings, if B earns Rs. 250 more than A :
Answer: (a)
| A | B | C | |
| Investment | 3x | 4x | 5x |
| Rate of return | 6y % | 5y % | 4y % |
| Return | ${18xy}/100$ | ${20xy}/100$ | ${20xy}/100$ |
Total = (18 + 20 + 20) = ${58xy}/100$
B's earnings – A's earnings = ${2xy}/100 = 250$
Total earning = ${58xy}/100 = 7250$
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