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 : 11 [SSC CHSL 2010]

The cost price of 24 apples is the same as the selling price of 18 apples. The percentage of gain is :

a) 12$1/2$%

b) 14$2/3$%

c) 33$1/3$%

d) 16$2/3$%

Shortcut »

Answer: (c)

Let the CP of 1 apple = Rs.1

CP of 18 apples = Rs.18

SP of 18 apples = Rs.24

Gain percent = $6/18 × 100 = 100/3 = 33{1}/3%$

Using Rule 8,

Here, x = 24, y = 18

Gain % = $({x - y}/y) × 100$

= ${24 - 18}/18 × 100 = 6/18 × 100 = 33{1}/3%$

Question : 12 [SSC CGL Tier-1 2011]

If the selling price of 10 articles is equal to the cost price of 11 articles, then the gain percent is

a) 10%

b) 11%

c) 25%

d) 15%

Shortcut »

Answer: (a)

Let the C.P. of each article be Rs.1.

C.P. of 10 articles = Rs.10

and S.P. of 10 articles = Rs.11

Profit percent = ${11 - 10}/10 × 100$ = 10%

Using Rule 8,

Here, x = 11, y = 10

Profit % = $({x - y}/y) × 100$

= ${11 - 10}/10 × 100 = 100/10$ = 10%

Question : 13 [SSC SAS 2010]

The selling price of 5 articles is the same as the cost price of 3 articles. The gain or loss percent is :

a) 20% gain

b) 25% gain

c) 40% loss

d) 33.33% loss

Shortcut »

Answer: (c)

Let C.P. be Rs.1

C.P. of 3 articles = Rs.3 = S.P. of P. of 5 articles.

Loss% = $({5 - 3})/5 × 100$ = 2 × 20 = 40%

Using Rule 8,

Here, x = 3, y = 5

Loss % = $({x - y}/y) × 100$

$({3 - 5}/5) × 100$ = - 40%

(–ve sign shows loss)

= 40 %

Question : 14 [SSC CHSL 2011]

A person sells 400 mangoes at the cost price of 320 mangoes. His percentage of loss is

a) 10%

b) 15%

c) 25%

d) 20%

Shortcut »

Answer: (d)

Using Rule 8,

Loss per cent = ${400 - 320}/400 × 100$

= $80/400 × 100 = 20%$

Question : 15 [SSC CPO S.I.2006]

A coconut merchant finds that the cost price of 2750 coconuts is the same as the selling price of 2500 coconuts. The loss or gain per cent is

a) 5% loss

b) 15% loss

c) 10% gain

d) 20% gain

Shortcut »

Answer: (c)

Let CP of each coconut be Rs.1.

CP of 2500 coconuts = Rs.2500

SP of 2500 coconuts = Rs.2750

Gain % = ${2750 - 2500}/2500 × 100$ = 10%

Using Rule 8,

Here, x = 2750, y = 2500

Gain % = $({x - y}/y) × 100$

= $({2750 - 2500}/2500) × 100$

= $250/2500 × 100$ = 10%

IMPORTANT quantitative aptitude EXERCISES

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profit & loss Shortcuts and Techniques with Examples
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