Model 1 Basic Concepts Of C.P And S.P Practice Questions Answers Test With Solutions & More Shortcuts

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: (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: (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: (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: (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: (a)

Using Rule 1,

Cost price = ${791000 × 100}/113$ = Rs.700000

Gain = 791000 - 700000 = Rs.91000

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