Model 1 Basic Concepts of C.P and S.P Practice Questions Answers Test with Solutions & More Shortcuts
profit & loss PRACTICE TEST [11 - EXERCISES]
Model 1 Basic Concepts of C.P and S.P
model 2 gain lost percentage
model 3 gain/loss % with C.P/S.P
model 4 sold & brought
model 5 marked price
model 6 sold in circular path
model 7 sold at loss
model 8 two article sold in different rates
model 9 selling an article & interchanging its values
model 10 reduced/increased price of an article
model 11 ratio & partnership
Question : 11 [SSC CHSL 2014]
If selling price of an article is 1$1/3$ of cost price, find gain %.
a) 1.33%
b) 33$1/3$%
c) 25%
d) 66$2/3$%
Answer »Answer: (b)
C.P. of article = Rs.x (let)
S.P. of article = Rs.${4x}/3$
Gain = ${4x}/3 - x = {4x - 3x}/3$ = Rs.$x/3$
Gain per cent = ${x/3}/x × 100$
= $100/3 = 33{1}/3%$
Question : 12 [SSC MTS 2011]
If the cost price is 95% of the selling price, what is the profit per cent ?
a) 5%
b) 4.75%
c) 4%
d) 5.26%
Answer »Answer: (d)
If the cost price be Rs.x, then
S.P. = $100/95x = Rs.20/19x$
Gain = ${20x}/19 - x = Rs.x/19$
Gain per cent = ${x/19}/x × 100 = 5.26%$
Using Rule 3,
Here C.P. = $95/100$ S.P.
C.P. = S.P.$(100/{100 + Profit%})$
$95/100$ S.P.
= S.P.$(100/{100 + Profit%})$
9500 + 95 profit% = 10000
Profit % = $500/95$ = 5.26%
Question : 13 [SSC CISF Constable 2011]
A milkman bought 70 litres of milk for Rs.630 and added 5 litres of water. If he sells it at Rs.9.00 per litre, his profit per centage is
a) 8$2/5$%
b) 7%
c) 8$1/5$%
d) 7$1/7$%
Answer »Answer: (d)
CP of 75 litres of mixture of milk and water = Rs.630
SP of 75 litres of mixture of milk
and water = 9 × 75 = Rs.675
Gain = 675 - 630 = Rs.45
Gain per cent = $45/630 × 100 = 50/7 = 7{1}/7$%
Question : 14 [SSC MTS 2013]
A merchant purchases a wrist watch for Rs.450 and fixes its list price in such a way that after allowing a discount of 10%, he earns a profit of 20%. Then the list price of the watch is
a) Rs.550
b) Rs.700
c) Rs.650
d) Rs.600
Answer »Answer: (d)
If the marked price of watch be x, then
$x × 90/100 = {450 × 120}/100$
$x = {450 × 120}/90$ = Rs.600
Question : 15 [SSC CHSL 2010]
A man purchased a bedsheet for Rs.450 and sold it at a gain of 10% calculated on the selling price. The selling price of the bedsheet was
a) Rs.480
b) Rs.475
c) Rs.460
d) Rs.500
Answer »Answer: (d)
Let the S.P. of the bedsheet be Rs. x.
$450 + {10 × x}/100 = x$
$x - x/10 = 450$
${9x}/10 = 450$
$x = {450 × 10}/9$ = Rs.500
Using Rule 1,
C.P. = Rs. 450,
Profit = ${10\text"S.P."}/100 = \text"S.P."/10$
Profit = S.P. - C.P.
$\text"S.P."/10$ = S.P. - 450
450 = S.P. - $\text"S.P."/10$
S.P. = ${450 × 10}/9$ = Rs.500
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Model 1 Basic Concepts of C.P and S.P Shortcuts »
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Click to Start..profit & loss Shortcuts and Techniques with Examples
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Model 1 Basic Concepts of C.P and S.P
Defination & Shortcuts … -
model 2 gain lost percentage
Defination & Shortcuts … -
model 3 gain/loss % with C.P/S.P
Defination & Shortcuts … -
model 4 sold & brought
Defination & Shortcuts … -
model 5 marked price
Defination & Shortcuts … -
model 6 sold in circular path
Defination & Shortcuts … -
model 7 sold at loss
Defination & Shortcuts … -
model 8 two article sold in different rates
Defination & Shortcuts … -
model 9 selling an article & interchanging its values
Defination & Shortcuts … -
model 10 reduced/increased price of an article
Defination & Shortcuts … -
model 11 ratio & partnership
Defination & Shortcuts …
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