Test: Profit & Loss- 2 - GMAT MCQ

Let the cost price of a ball be Rs. x.

So, the CP of 17 balls is Rs. 17x.

The CP of 5 balls is Rs. 5x.

Since Loss = CP - SP

So, 5x = 17x - 720

On solving, we get

12 x = 720

that is, x = 60

So, the cost price of a ball is Rs. 60.

So before solving this question we will get the C.P. and S.P. of 1 article to get the gain percent.

C.P. of 1 orange = 350/100 = Rs 3.50
S.P. of one orange = 48/12 = Rs 4 [note: divided by 12 as 1 dozen contains 12 items]
Gain = 4 - 3.50 = Rs 0.50

Profit

Case 1) S.P of radio = Rs 840
Profit = 20%
By unitary method C.P = (100/120) ×840= 700Rs
Case 2) S.P of 2nd radio = Rs 960
Loss = 4%
By unitary method C.P = (100/96) × 960 = 1000 Rs
Total C.P = 700 + 1000 = 1700 Rs
Total S.P= 840 + 960 = 1800 Rs
There is a profit of = 1800 - 1700 = Rs100
Therefore profit% = (100/1700) × 100 = 100/17 
= 5.882% Ans
 

C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.

S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.

Gain =(80/1600*100) % = 5%

The correct answer is A as
 cost price = SPX100/100-loss
=34.80×100/75
=46.40

Let the marked price be Rs. 100.
Successive discounts of 20% and 12% were given.
Sale price = 100 × 80/100 × 88/100 = Rs.704/10
If the sale price is Rs.704/10, the marked price is Rs.100
If the sale price is Rs.704, the marked price is
= 100 × 10 × 704/704 =  Rs.1000
 

C.P. = (80000 + 5000 + 1000)
⇒ 86000
As we know that Profit = 25%
S.P. = 125% of 86000
⇒ (125/100 * 86000)
⇒ 107500 Rs.