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

Click To More Exercise For Profit & Loss
Question :1

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.

Question :2

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

Question :3

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 % = $\text"Commission on MP"/{100 - \text"Commission"} × 100$

= $25/{100 - 25} × 100 = 33{1}/3$ %

Question :4

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%

Question :5

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.

= ${18450 - 10x}/x$

Click To More Exercise For Profit & Loss
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