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 : 16 [SSC CPO S.I.2005]
A merchant buys an article for Rs.27 and sells it at a profit of 10% of the selling price. The selling price of the article is :
a) Rs.37
b) Rs.30
c) Rs.29.70
d) Rs.32
Answer »Answer: (b)
S.P. - C.P.=${10\text"S.P."}/100 = \text"S.P."/10$
S.P.- $\text"S.P."/100$ = 100= 27
S.P.= ${27 × 10}/9$ = Rs.30
Using Rule 1,
C.P. = 27, Profit = $10/100$
S.P. = $\text"S.P."/10$
Profit = S.P. - C.P.
$\text"S.P."/10$ = S.P. - 27
27 = S.P. - $\text"S.P."/10$
S.P. = ${27 × 10}/9$ = Rs.30
Question : 17 [SSC CGLTier-I 2010]
By selling an article, a man makes a profit of 25% of its selling price. His profit per cent is
a) 16$2/3$%
b) 25%
c) 20%
d) 33$1/3$%
Answer »Answer: (d)
Using Rule 1,
If S.P > C.P. then there will be profit
Profit = S.P. - C.P.
Profit% = ${\text"Profit" × 100}/{\text"C.P."}$
If the S.P. of article be x, then its
CP = $x - x/4$ = Rs.${3x}/4$
Gain % = ${x/4}/{{3x}/4} × 100$
= $100/3 = 33{1}/3$%
Question : 18 [SSC Constable 2013]
A retailer buys a radio for Rs.225. His overhead expenses are Rs.15. He sells the radio for Rs.300. The profit per cent of the retailer is :
a) 20%
b) 26$2/3$%
c) 25%
d) 33$1/3$%
Answer »Answer: (c)
Using Rule 1,
Actual C.P. = 225 + 15 = Rs.240
Gain = 300 - 240 = Rs.60
Gain per cent = $60/240 × 100 = 25%$
Question : 19 [SSC Assistant Grade-III 2012]
An item when sold for Rs.1,690 earned 30% profit on the cost price. Then the cost price is
a) Rs.1,300
b) Rs.630
c) Rs.507
d) Rs.130
Answer »Answer: (a)
Using Rule 3,
If the C.P. be x, then
${x × 130}/100 = 1690$
$x = {1690 × 100}/130$ = Rs.1300
Question : 20 [SSC CHSL 2012]
A salesman expects a gain of 13% on his cost price. If in a month his sale was Rs.7,91,000, what was his profit ?
a) Rs.91,000
b) Rs.88,300
c) Rs.85,659
d) Rs.97,786
Answer »Answer: (a)
Using Rule 1,
Cost price = ${791000 × 100}/113$ = Rs.700000
Gain = 791000 - 700000 = Rs.91000
IMPORTANT quantitative aptitude EXERCISES
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New 249+ Profit and Loss Questions and Answers for TNPSC »
Model 1 Basic Concepts of C.P and S.P Shortcuts »
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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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