Profit And Loss MCQ - 5


20 Questions MCQ Test Quantitative Ability for SSC CHSL | Profit And Loss MCQ - 5


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QUESTION: 1

A person saves 20 percent of his income. If the income of that person increased by 16 percent and he decided to save 25 percent, then find the percent increase in his saving as compared to previous one.

Solution:

Let initial income = 100 so his saving is rupees = 20.
Now his income is 116 and he save = 116*25/100 = 29
So % increase in saving = (9/20)*100 = 45

QUESTION: 2

A person sell two horses for rupees 480 each. On the first horse he gains 25 percent and on the second horse he losses 25 percent. Find the percent gain or loss in the transaction.

Solution:

sol=> When same quantity is sell at same price and percent gain and loss is same then there is always loss occurred. To calculate the loss percent = ((common loss or gain)/10)^2
i.e. (25/10)^2 = 6.25% loss

QUESTION: 3

P calculates his profit percent on selling price while Q calculates his profit percent on cost price. They notice that difference between their profits is 1000 rupees. If selling price of both P and Q are same and P gets 40% profit and Q gets 60% profit. Then find their selling price 

Solution:

Let selling price  = SP and cost price of A = CP1 and that of Q = CP2.
For P, % profit = (SP – CP1)/SP = 40/100. We get CP1 = (3/5)*SP
For Q, % profit = (SP – CP2)/CP2 = 60/100. We get CP2 = (5/7)*SP
Now, CP2 – CP1 = 1000. Solve this and we get SP = 8750

QUESTION: 4

A dealer sells a goat for rupees 600 and there by gains 20 percent. He sells another goat at 5 percent loss and on the whole there is no loss no profit. Find the cost price of the second goat

Solution:

600 = (120/100)*cp
so cp of first goat = 500. So in the first deal he gains 100 rupees.
But on selling second horse he losses 5 percent, means (5/100)*CP = 100
So cp of second goat = 2000

QUESTION: 5

If a discount of 10 percent is given on the marked price of the article then the seller gains 20 percent profit. Find the percent profit if the article is sold at 20 percent discount.

Solution:

Let marked price = 100
90 = (120/100)*cp, cp = 75
Now discount = 20% so, SP = 80
% profit = [(80 – 75)/75]*100 = 20/3

QUESTION: 6

What will be the profit percentage after selling an article at certain price if there is a loss of 40 percent when the same article is sold at 2/5 of the earlier selling price ?

Solution:

CP = 2/3 of Sp
SP = (100+p)/100 of cp
CP = 2/3[(100+p)/100] cp
P = 50
Solve both equation, we will get P = 50

QUESTION: 7

By selling 22 meters of cloth a shopkeeper gains cost price of 4 meter cloth. Find the percent profit/loss occurred by the shopkeeper.

Solution:
QUESTION: 8

Rohit bought an article at 25 percent discount on labelled price. He again sells the article at 20 percent on labelled price. Find the percent profit earned by rohit in whole transaction

Solution:

Let labelled price is 100. Rohit bought it for 75 after getting 25% discount.
Now he sells the article at (120/100)*100 = 120. So % profit he earns = (45/75)*100 =60

QUESTION: 9

A toys manufacturing company declares 20 percent discount for whole sale buyers. A trader bought toys for rupees 4000 after getting the discount. Now he sells the toys at 15 percent profit on the original price of the company. What is the selling price of the toys?

Solution:

Let original price of toys be M,
(80/100)*M = 4000, M = 5000
Now to gain 15% on the original price, the trader will sell the toys at (115/100)*5000 = 5750 rupees

QUESTION: 10

Raman buys some apples at the rate of four for a rupee and same numbers of oranges at three for a rupee. To make a profit of 25%, Raman should sell a 6 apples for. 

Solution:

Let Raman buys ‘X’ apples at rate four for a rupee and ‘X’ apples at three for a rupee.
So, cost price = X/4 + X/3
CP = 6/4 + 6/3 = 3.5
Now SP = (125/100)*3.5 = 4.375

QUESTION: 11

An article is sold for rupees 400 in which the seller fetches 25% profit. If 6 such articles are sold for rupees 2400, then the percent profit/loss incurred by the seller

Solution:

400 = (125/100)*CP
CP = 320.
Selling price = 2400/6 = 400.
% profit = [(400 – 320)/320]*100 = 25

QUESTION: 12

A trader gives an additional concession of 35% on an article which is already get discounted by 20% on the marked price. If the buyer pays an amount of 1300 for the article, then the marked price is

Solution:

MP*(80/100)*(65/100) = 1300

QUESTION: 13

A shopkeeper bought 120 chairs at the rate of 250 each. He spends 3000 rupees on transportation. He marked the price of each chair at 400 rupee. On the marked price he gives 10% discount, then find the profit incurred by the shopkeeper.

Solution:

cost price of each chair = 250 + 3000/120 = 275
selling price = 400*90/100 = 360
% profit = [(360 – 275)/275]*100

QUESTION: 14

Rahul bought 20kg of rice at rupees 30 per kg and 40 kg of rice at 35 rupees per kg. Now he sold the entire lot at 45 rupees per kg. Find the amount of loss and profit made by rahul.

Solution:

total cost price = 20*30 + 40*35 = 2000
total selling price = 45*60 = 2700
profit made = 700

QUESTION: 15

A trader sold an article for rupees 810 after giving a discount of 10 percent on the labelled price and gain 20% percent. What will be the profit percent when the article is sold at labelled price.

Solution:

810 = (120/100)*p
cp = 675.
(90/100)*Mp = 810
Mp = 900.
% profit = [(900 – 675)/675]*100

QUESTION: 16

A company declared 20 percent discount on its garments. Rakesh bought garments worth rupees 30000 after getting discount. Now he fixed the selling price of the garments in such a way that he got a profit of 15 percent on the marked price. Find the selling price of the garments.

Solution:

(80/100)*MP = 30000
MP = 37500, CP = 30000
Profit = (15/100)*37500 =5625
SP = 30000+5625 = 35625 rupee

QUESTION: 17

A shopkeeper sold certain articles at 380 after giving a discount of 5 percent. If the discount is not given he would have been gain 20 percent. What is the cost price of the articles (approx.)

Solution:

(95/100)*MP = 380. Mp = 400
400 = (120/100)*Cp
CP = 333.33

QUESTION: 18

If a discount of 15 percent is given on an article then the shopkeeper make a profit of 5 percent. Find the percent profit made by the seller when a discount of 10 percent is given
 

Solution:

(85/100)*mp = (105/100)*cp
(90/100)*mp = [(100+p)/100]*(85/105)*mp

QUESTION: 19

The marked price of an article is 20% above the cost price. When the selling price of an article is increased by 30% the profit doubles. If the marked price of an article is 480, then original selling price is.
A.531.15
B.537.14
C.571.4
D.582.12
E.None of these

Solution:

Given MP = 120/100*CP. So, CP = 400.
SP -400 = P (Profit)
(130/100)*SP – 400 = 2P
Solving both equation we get, SP = 4000/7 = 571.4

QUESTION: 20

A trader gains 10% while buying the goods and gains 20% while selling the goods. Find the gain percent of the trader.

Solution:
  1. Traders gain 10% on buying means an article cost 110rs, he buy it for 100.
    Now he sell it for 20% profit means 110*(120/100) = 132. So gain% is 32.

 

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