profit and loss Model Questions & Answers, Practice Test for ssc cgl tier 1 2023
ssc cgl tier 1 2023 SYLLABUS WISE SUBJECTS MCQs
Number System
Ratio Proportion & Partnership
Averages
Percentages
Profit & Loss
Time & Work
Time & Distance
Simple Interest & Compound Interest
Mensuration: Area & Volumes
Algebraic Expressions
Linear Equations
Squareroots & Cuberoots
By selling a fan for Rs. 600, a man loses 10%. To make a gain of 20%, the selling price of the fan should be
Answer: (b)
S.P = $(100 - loss%)/100 × C.P_1$
$600 = (100 - 10)/100 × CP_1$
∴ $CP_1 = {100 × 600}/90$
To make a gain of 20%, the S.P. of fan should be
$(100 + gain%)/100 × CP_1$
∴ S.P = $(100 + 20)/100 × {100 × 600}/90 = 120/90 × 600 = 800$
Hence, S.P. should be Rs. 800.
Prashant incurred a loss of 75% on selling an article for Rs. 6800. What was the cost price of the article ?
Answer: (e)
CP = SP × $100/{100 - \text"loss"%}$
= 6800 × $100/{100 - 75}$ = 27,200
The profit percent of a bookseller if he sells book at marked price after enjoying a commission of 25% on marked price will be:
Answer: (d)
Profit % = $\text"Commission on MP"/{100 - \text"Commission"} × 100$
= $25/{100 - 25} × 100 = 33{1}/3$ %
A man buys 200 oranges for Rs. 1000. How many oranges for Rs. 100 can be sold, so that his profit percentage is 25%?
Answer: (c)
Cost price of 200 oranges = Rs.1000.
Cost price of 1 orange = $1000/200$ = Rs. 5.
Selling price of 1 orange = $5 × 125/100$ = Rs. 6.25
So, in Rs. 6.25, number of oranges can be sold = 1
In Rs. 100, number of oranges can be sold
= $1/6.25 × 100$ = 16
Hence, 16 oranges can be sold in Rs. 100 for profit 25%
A tradesman marks an article at Rs. 205 more than the cost price. He allows a discount of 10% on the marked price. Find the profit per cent if the cost price is Rs. x.
Answer: (a)
Cost price = x
Marked price = x + 205
Selling price = 0.9x + 184.5
Percentage profit = [(– 0.1x + 184.5)x × 100.
= ${18450 - 10x}/x$
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