Profit And Loss Model Questions & Answers, Practice Test for ssc chsl tier 1 2023

Question :1

What the seller marked the printed price of a watch purchased at Rs. 380, so that giving 5% discount, there is 25% profit?

Answer: (b)

Let marked price be Rs. x.

∴ Discount = 5% of $x = 95/100 × x = {19x}/20$

According to question,

$380 = {19x}/20$

∴ x = Rs. 400.

Question :2

The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

Answer: (b)

Let C.P. be Rs. x.

Then, ${1920 - x}/x × 100 = {x - 1280}/x × 100$

⇒ 1920 – x = x –1280 ⇒ 2x = 3200 ⇒ x = 1600.

∴ Required S.P. = 125% of Rs.1600

= Rs. $(125/100 × 1600)$ = Rs. 2000

Question :3

5% more is gained by selling a cow for Rs. 350 than by selling it for Rs. 340. The cost price of the cow is ________ .

Answer: (a)

Difference in 5% profit = Diff. in Rs. 10 profit

∴ 100% = $10/5 × 100$ = Rs. 200

Question :4

What was the amount of discount given?

Answer: (d)

Discount = 6272 – 5958.4 = 313.6

Question :5

Rahul bought two cycles for a total sum of Rs. 1,500. He sold one cycle at 20% loss and the other cycle at 20% gain. If the selling price of both the cycles is the same, find the cost price of the two cycles.

Answer: (a)

2 cycles – 1500

By options,

600 → (+20% → 720)

900 → (–20% → 720)

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