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 : 26 [SSC Constable 2013]
If a shirt costs Rs.64 after 20% discount is allowed, what was its original price in Rs.?
a) 88
b) 80
c) 76.80
d) 86.80
Answer »Answer: (b)
If the original cost of shirt be x, then
$x × 80/100 = 64$
$x = {64 × 100}/80$ = Rs.80
Question : 27 [SSC CHSL 2012]
A fan is listed at Rs.150 and a discount of 20% is given. Then the selling price is
a) Rs.120
b) Rs.150
c) Rs.180
d) Rs.110
Answer »Answer: (a)
S.P. of the fan = ${150 × 80}/ 100$ = Rs.120
Question : 28 [SSC MTS 2013]
While selling to the retailer, a company allows 30% discount on the marked price of their products. If the retailer sells those products at marked price, his profit % will be :
a) 40%
b) 42$1/7$%
c) 30%
d) 42$6/7$%
Answer »Answer: (d)
If the marked price of the product be Rs.100, then
C.P. = Rs.70; S.P. retailer = Rs.100
∴ Gain per cent
= $30/70 × 100 = 300/7= 42{6}/7$%
Question : 29 [SSC CPO S.I.2003]
In terms of per centage profit, which is the best transaction?
| C.P (in Rs.) | Profit (in Rs.) | |
| (I) | 36 | 17 |
| (II) | 50 | 24 |
| (III) | 40 | 19 |
| (IV) | 60 | 29 |
a) III
b) II
c) I
d) IV
Answer »Answer: (d)
Using Rule 1,
If S.P > C.P. then there will be profit
Profit = S.P. - C.P.
Profit% = ${\text"Profit" × 100}/{\text"C.P."}$
Note: Both profit and loss are always calculated on cost price only. }
Case I : Per centage Profit
= ${17 × 100}/36$ ≈ 47%
Case II : Per centage Profit
= ${24 × 100}/50 = 48%$
Case III : Per centage Profit
= ${19 × 100}/40 = 47.5%$
Case IV : Per centage Profit
= ${29 × 100}/60 = 48.3%$
Obviously, (d) is the best transaction.
Question : 30 [SSC CGL Prelim 2007]
Krishnan bought a camera and paid 20% less than its original price. He sold it at 40% profit on the price he had paid. The per centage of profit earned by Krishnan on the original price was
a) 12%
b) 32%
c) 22%
d) 15%
Answer »Answer: (a)
Let the original price be Rs.x.
= $80/100 × x = Rs.{4x}/5$
SP = ${4x}/5 × 140/100 = Rs.{28x}/25$
Gain on original price
=${28x}/25 - x ={3x}/25$
∴ Gain % = ${3x}/{25x}$ × 100 = 12%
IMPORTANT quantitative aptitude EXERCISES
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New 199+ Profit and Loss MCQ Test with Shortcuts, Tricks »
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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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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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