model 4 sold & brought 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 : 16 [SSC CGL Prelim 2007]

A fruit seller buys lemons at 2 for a rupee and sells them at 5 for three rupees. His profit per cent is

a) 15%

b) 20%

c) 10%

d) 25%

Shortcut »

Answer: (b)

Suppose, number of lemons bought

= LCM of 2, 5, 3 = 30

CP =Rs.$(1/2 × 30)$ = Rs.$15$

SP = Rs.$(3/5 × 30)$ = Rs.18

Gain = Rs.3; Gain per cent = $3/15 × 100 = 20%$

Using Rule 13,

Here, a = 2, x = 1, b = 5, y = 3

Gain% = $({ay - bx}/{bx})$ × 100%

= $({2 × 3 - 5 × 1}/{5 × 1}) × 100%$

= $1/5 × 100%$ = 20%

Question : 17 [SSC CGL Prelim 2003]

By selling a tape-recorder Rs. for 950, I lose 5%. What per cent shall I gain by selling it for Rs.1040?

a) 4

b) 4.5

c) 5

d) 9

Shortcut »

Answer: (a)

Using Rule 1,

If S.P > C.P. then there will be profit

Profit = S.P. - C.P.

Profit% = ${\text"Profit" × 100}/{\text"C.P."}$

C.P. of the tape recorder

= $100/95 × 950$ = Rs.1000

Gain = 1040 - 1000 = Rs.40

% Gain = $40/1000 × 100 = 4%$

Question : 18 [SSC CGL Prelim 2007]

A person buys 100 cups at Rs.10 each. On the way 10 cups are broken. He sells the remaining cups at Rs.11 each. His loss per cent is

a) 1%

b) 1$1/2$%

c) $1/2$%

d) 2%

Shortcut »

Answer: (a)

Using Rule 2

If C.P > S.P., then there will be Loss

Loss = C.P. - S.P., Loss% = ${Loss × 100}/{C.P.}$

CP of Rs.100 cups = RS.100 × 10 = Rs.1000

10 cups are broken.

SP of 90 cups = Rs.(90 ×11) = Rs.990

Loss = Rs.(1000 - 990) = Rs.10

Loss per cent = $10/1000 × 100 = 1%$

Question : 19 [SSC SO 2007]

Mohan bought 25 books for Rs.2,000 and sold them at a profit equal to the selling price of 5 books. The selling price of 1 book is

a) Rs.120

b) Rs.150

c) Rs.100

d) Rs.200

Shortcut »

Answer: (c)

Using Rule 1,

Let the SP of 1 book = x

SP of 25 books = 25x

According to the question,

25x - 2000 = 5x

20x = 2000 ⇒ x = $2000/20$ = 100

SP of 1 book = Rs.100

Question : 20 [SSC CHSL 2011]

A shopman bought pens at the rate of 7 for Rs.10 and sold them at a profit of 40%. How many pens would a customer get for Rs.10 ?

a) 4

b) 5

c) 6

d) 3

Shortcut »

Answer: (b)

S.P. of 7 pens = ${10 × 140}/100$ = Rs.14

S.P. of 1 pen = $14/7$ = Rs.2

Clearly, 5 pens were sold for Rs.10

Using Rule 13,

Here, a = 7, x = 10, b = ?, y = 10, Gain% = 40%

Gain% = $({ay - bx}/{bx})$ × 100%

40 = $({7 × 10 - b × 10}/{b × 10}) × 100%$

4b = 70 - 10b

14b = 70 ⇒ b = $70/14$ ⇒ b = 5

IMPORTANT quantitative aptitude EXERCISES

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