profit and loss Model Questions & Answers, Practice Test for ssc chsl tier 1
What profit/loss percent did Ravi earn if he purchased an item of Rs. 5,600 and sold it at three-fourth of its cost price?
Answer: (d)
Loss = 1/4 of the CP
$(1 - 3/4)$
= $1/4 × 100$ = 25 %
The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is
Answer: (c)
CP of 20 articles = SP of x articles = 1 (say)
Therefore, CP of 1 article = $1/20$,
And SP of 1 article = $1/x$
Now, gain% = ${1/x - 1/20}/{1/20} = 25/100$
$({20 - x}/{20x}) × 20 = 25/100$
⇒ 80 – 4x = x ⇒ 5x = 80 ⇒ x = 16
A person sells two items each at Rs. 990, one at a profit of 10% and another at a loss of 10%. What is the combined percentage of profit or loss for the two items ?
Answer: (b)
Combined % loss = ${10 × 10}/100$ % = 1%(loss)
What percent above cost price must the price of an article be marked to make a profit of 8% after allowing a discount of 10% ?
Answer: (d)
Marked percentage above CP
= $\text"Discount % + Profit%"/\text"100 - Discount%" × 100$
= ${10 + 8}/{100 - 10} × 100$
= $18/90 × 100$ = 20%
Amit brought two cars. He then sold the first car at 10% profit and the second one at 25% profit. The selling price of the second car is 25% more than the selling price of the first car. What is the approximate profit per cent in both the cars together?
Answer: (b)
100 $⟶↖{10%}$ First profit $⟶↖{25%}$ Net profit
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