Ace profit and loss with these practice questions

This is in continuation to the last article focusing on profit and loss topic.

Hyderabad: This is in continuation to the last article focusing on profit and loss topic. Here are practice questions along with solutions that will help you in your preparation for the State government recruitment jobs.

1. A man sold an article at a gain of 5%. Had he sold it for Rs.40 more, he would have gained 8%. The cost price of the article is

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a) Rs.6,000 b) Rs.8,000 c) Rs.10,000 d) Rs.12,000

Ans: b

Solution:

Let C.P. of article be Rs. x.
According to the question,
108% of x – 105% of x = 240
=>; 108x/100 – 105x/100 = 240
=>; 3x/100 = 240

=>; x = 24000/3 = Rs.8000
2. If 3 articles are sold for the cost of 5 articles, then the profit percentage is?

a) 61% b) 63 2/3% c) 65% d) 66 2/3%

Ans: d
Solution:
Profit percent = 5-3/3 x 100

= 200/3 = 66 2/3%

3. A dealer sold a bicycle at a profit of 10%. Had he bought the bicycle at 10% less price and sold it at a price Rs.60 more, he would have gained 25%. The cost price of the bicycle was?
a) Rs.2,000 b) Rs.2,200 c) Rs.2,400 d) Rs.2,600
Ans: c
Solution:
C.P. of cycle = Rs. x (let)

S.P. = 110x/100 = Rs 11x/100

Case II,

New C.P. = Rs. 9x/10

11x/10 60 =9x/10 x 125/100

= Rs 9x/8
=>; 9x/8 -11x/10 = 60

=>; 90x-88x/80 = 60
=>; 2x/80 = 60
=>; x/40 = 60

x = 60 x 40
= Rs.2400

4. Aarav buys one kilogram of apples for Rs.120 and sells it to Swetha gaining 25%. Swetha sells it to Dharani who again sells it for Rs.198, making a profit of 10%. What is the profit percentage made by Swetha?

a) 25% b) 20% c) 30% d) 35%
Ans: b

Solution:

C.P. for Swetha.
= Rs. (120 x 125/100) = Rs.150

C.P. for Darani
= Rs. (100/110 x 198)

= Rs. 180
S.P. for Swetha = Rs. 180

Profit percent

180 – 150/150 x 100 = 30 x 2/3

= 20%
5. A sold a watch at a gain of 5% to B and B sold it to C at a gain of 4%. If C paid Rs.91 for it, the price paid by A is?

a) Rs.83.33 b) Rs.84.33 c) Rs.85.33 d) Rs.86.33

Ans: a
Solution:
C.P. of watch for A = Rs. x (let).

According to the question,

x x 105/100 x 104/100 = 91

=>; x = 91 x 100 x 100/105 x 104

= 250/3 = Rs 83.33
6. A shopkeeper buys 80 articles for Rs.2,400 and sells them for a profit of 16%. Find the selling price of one article.
a) Rs.35.80 b) Rs.31.80 c) Rs.34.80 d) Rs.32.80
Ans: c

Solution:

C.P. of each article = 2400/80
= Rs. 30

Profit = 16%

S.P. of each article
=Rs. (30 x 116/100)
= Rs.34.80

To be continued…

M Venkat
Director

MVK Publications

Dilsukhnagar