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Be a pro at calculating profit and loss for competitive exams

Hyderabad: This article is in continuation to the last article on preparation for the Sub-Inspector of Police recruitment exam. Here are some practice questions, answers along with explanations on the Profit and Loss topic. 1. By selling an article at a loss of 7% if A purchase it again at a gain of 9%, it […]

Hyderabad: This article is in continuation to the last article on preparation for the Sub-Inspector of Police recruitment exam. Here are some practice questions, answers along with explanations on the Profit and Loss topic.

1. By selling an article at a loss of 7% if A purchase it again at a gain of 9%, it would have fetched Rs.64 more than it did. What was the cost price?
A. Rs. 500 B. Rs. 400 C. Rs. 270 D. Rs. 350 Ans: B

Explanation:
Let cost price be Rs x.
Given that by selling an article there is a gain of 9% and loss of 7%.
Then, 109% 0f x – 93% of x = 64
16% of x = 64
X = Rs. 400

2. A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs.77 more he would have had a profit of 40%. Find the cost price of the article?
A. Rs. 450 B. Rs. 335 C. Rs. 370 D. Rs. 350 Ans: D

Explanation:
Let cost price be Rs. x
According to the question the person will get a profit of 40% if he had bought an article for 20%. Then
140% of 80% of x – 90% of x = 77
112% of x – 90% of x = 77
22% of x = 77
From this x = Rs. 350

3. By selling an article for Rs. 20.80 a dealer makes a profit of 30%. By how much should be increase his selling price so as to make a profit of 40%?
A. Rs. 1.5 B. Rs. 1.6 C. Rs. 1.3 D. Rs. 1.4 Ans: B

Explanation:
Let cost price be Rs. x.
Selling price = x + 0.3x = 1.3x
1.3x = 20.80
X = 16
Profit = = 6.4
Hence he should sell the article at a price of 22.4 (6.4+16)
And he should increase the S.P by 22.4-20.80 = Rs. 1.6

4. The difference between the selling prices of an article at profits of 25% and 20% is Rs. 10. The cost price of that article is:
A. Rs. 150 B. Rs. 200 C. Rs. 250 D. Rs. 110 Ans: B

Explanation:
Let cost price of an article be x
Given that
125% of x – 120% of x = Rs. 10
5% of x = Rs. 10
X = Rs 200

5. A fruit seller bought oranges at 7 for Rs. 10 and sold them at a profit of 40%. How many oranges did a costumer get for Rs. 10?
A.4 B. 5 C. 7 D. 10 Ans: B

Explanation:
Cost price of 7 oranges =10
Selling price of 7 oranges = 140% of 10 = 14 Then number of oranges did a costumer get is = = 5

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