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Profit & Loss Solved Questions For IBPS, SBI and Other Bank Exams - Page 2

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Profit & Loss Solved Questions (Page 2 of 7)

Points to remember:

Gain = (S.P.) - (C.P.)

Loss = (C.P.) - (S.P.)

where s.p = selling price and c.p = cost price

Gain Percentage: (Gain %) Loss Percentage: (Loss %)

Gain % = Gain x 100 / c.p Loss % = Loss x 100 / c.p

If an article is sold at a gain of say 35%, then S.P. = 135% of C.P.

If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.


Question 1

A seller sold his articles in two types such that three fourth at a profit of 10% and the remaining at loss of 2%. If the total profit was Rs.1500, what was the total value of the articles ?
a)Rs.20409 b)Rs.21009 c)Rs.21429 d)Rs.21400

Answer : c)Rs.21429

Solution:

Let the total value be Rs.X .
The value of 3/4 th = Rs.3X/4 then the value of 1/4 th = Rs.X/4
Since he made a profit of 10% on 3X/4 and loss 2% on X/4
Selling price = Rs.[110% of 3X/4] + [98% of X/4]
= Rs.330X/400 + 98X/400
= Rs.428X/400
Since the total cost price is Rs.X and the total profit is Rs.1500 then
Rs.428X /400 - X = Rs.1500
28X = 1500 x 400 = Rs.6,00,000
X = 6,00,000/28 = Rs.21428.57 = Rs.21429

Hence the answer is Rs.21429


Question 2

Meera sold 8 keys and makes a profit equal to the selling price of 2 keys, what is the profit percentage?

a)33(1/3)% b)35(1/3)% c)33% d)35%

Answer : a)33(1/3)%

Solution :

By observing the given data we can have
S.P of 8 keys - C.P of 8 keys = profit = S.p of 2 keys then
S.P of 6 keys = c.p of 8 keys ----eq1

Let c.p of each key be Re.1
Then c.p of 8 keys = Rs.8
and s.p of 6 keys = Rs.8 (using eq1)

Now, the percent profit is = (2/6 x 100 )% = 100/3 % = 33(1/3)%


Question 3

If the profit is 40% and Rs.500 is the difference between c.p and s.p then c.p is:
a)Rs.1750 b)Rs.1250 c)Rs.1500 d)Rs.1800

Answer : b)Rs.1250

Solution :

Let c.p be Rs.X then s.p = Rs.140% of X = Rs.14X/10
Now, 14X/10 - X = Rs.500
4X = Rs.5000
X= Rs.1250
s.p = Rs.14 x 1250 / 10 = Rs.1750

Hence the c.p is Rs.1250


Profit & Loss Solved Questions (Page 2 of 7)

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