model 2 gain lost percentage 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

profit & loss Important Formulas, Rules, Concepts & Shortcuts

Question : 6 [SSC CPO S.I.2004]

The cost price of 8 articles is equal to the selling price of 9 articles. The profit or loss per cent in the transaction is

a) 12$1/2$% loss

b) 12$1/2$% profit

c) 11$1/9$% profit

d) 11$1/9$% loss

Shortcut »

Answer: (d)

Let the CP of each article be Rs.1

CP of 9 articles = Rs.9

SP of 9 articles = Rs.8

Loss = Rs.1; Loss % = $1/9$ × 100

Loss % = $100/9 = 11{1}/9%$

Using Rule 8,

Here, x = 8, y = 9

Loss % = $({y - x}/y) × 100$

= $({9 - 8}/9) × 100 = 100/9 = 11{1}/9%$

Question : 7 [SSC FCI Assistant Grade-III 2012]

The cost price of 25 articles is equal to the selling price of 20 of them. The gain or loss percent is given by

a) 20% loss

b) 25% gain

c) 75% gain

d) 60% loss

Shortcut »

Answer: (b)

Percentage profit = ${25 - 20}/20 × 100$ = 25%

Using Rule 8,

Here, x = 25, y = 20

Gain % = $({x - y}/y) × 100$

= ${25 - 20}/20 × 100 = 500/20$ = 25%

Question : 8 [SSC CGL Tier-II 2012]

The cost price of 40 articles is the same as the selling price of 25 articles. Find the gain per cent.

a) 65%

b) 60%

c) 75%

d) 15%

Shortcut »

Answer: (b)

Gain per cent

= ${40 - 25}/25 × 100 = 15/25 × 100 = 60%$

Using Rule 8,

Here, x = 40, y = 25

Gain % = $({x - y}/y) × 100$

= ${40 - 25}/25 × 100 = 15/25 × 100$ = 60%

Question : 9 [SSC Constable 2012]

If the cost price of 18 articles is equal to the selling price of 16 articles, the gain or loss is

a) 25% gain

b) 25% loss

c) 12$1/2$% gain

d) 12$1/2$% loss

Shortcut »

Answer: (c)

Percentage profit = ${18 - 16}/16 × 100$

= $25/2 = 12{1}/2$%

Using Rule 8,

Here, x = 18, y = 16

Gain % = $({x - y}/y) × 100$

= ${18 - 16}/16 × 100$

= $2/16 × 100 = 25/2 = 12{1}/2$%

Question : 10 [SSC CGL Prelim 1999]

The cost price of 36 books is equal to the selling price of 30 books. The gain per cent is :

a) 20%

b) 16$4/6$%

c) 82$2/6$%

d) 18%

Shortcut »

Answer: (a)

Using Rule 8,

If cost price of 'x' articles is equal to selling price of 'y' articles,
then Selling Price = x, Cost Price = y
Hence, Profit or Loss% = ${x - y}/y × 100$

Required profit = ${36 - 30}/30 × 100$ = 20%

IMPORTANT quantitative aptitude EXERCISES

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