Profit And Loss Pdf Model Questions & Answers, Practice Test for ssc mts tier 1 2024

Question :1

A man purchased some eggs at 3 for Rs.12. Thus he gained Rs. 143 in all. the number of eggs he bought is

Answer: (d)

Question :2

If a shopkeeper wants to give 20% discount on a toy, he has to sell it for Rs. 300. If he sells it at Rs. 405, then his gain percent is

Answer: (a)

Let CP = 100 x

Discount = 20%

SP = 100x - 20% of CP → 80x

80 x → Rs. 300

1x → $300/80$

100x → $300/80$ × 100 = 375

Actual CP = Rs. 375

New SP = Rs. 405

Profit = Rs. 30

Gain percent = $30/375$ × 100 = 8%

Question :3

10% discount and then 20% discount in succession equivalents to total discount of

Answer: (d)

Equivalent discount

= $(a + b - {ab}/100)$%

= $(10 + 20 - {10 × 20}/100)$ % = (30 - 2)%

= 28%

Question :4

A hours was sold for Rs. y by giving a discount x %, then the list price was :

Answer: (c)

Discount = x%

→ SP = Rs. y

→ MRP = ?

→ MRP × (100 - x)% = y

→ MRP = $y/{(100 - x) × 1/100}$

→ MRP = Rs. ${100y}/(100 - x)$

Question :5

A shopkeeper gains 17% after allowing a discount of 10% on the marked price of an article, Find his profit percent if the article is skid at marked price allowing no discount.

Answer: (c)

$CP (100) →↖{17%} SP (117) →↖{Rs. -10%} MRP (130)$

Let CP of article = Rs. 100

→ then SP = Rs. 117

→ MRP × 90% = 117

→ MRP × $9/10$ = 117

→ MRP = Rs. 130

→ If there is no discount then SP = MRP

→ So SP = 130

→ Profit → 130 – 100

→ Profit → Rs. 30

→ Profit% = $30/100$ × 100% = 30%

Alternate :

CP 100 - D% (90)

↓27

Mp 100 + P% (117)

Profit % = $27/90 × 100$ = 30%

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