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Saturday, 12 March 2016

Profit and Loss Quiz for IBPS

1. By selling 32 oranges for Rs.30 a man loses 25% . How many oranges should be sold for Rs.24 so as
to gain 20% in the transaction?
1) 16  2) 24  3) 32  4) 28  5) None of the above
Solution (1).
Let the cost price be Rs. x
SP of 1 orange = Rs. 30/32 = Rs. 15/16
According to the question,
75x /100 = 15/16
Therefore, x = 15*100 / 75*16 = Rs. 5/4
SP of 1 orange with 20% profit
= Rs. (5/4 * 120/100) = Rs. 3/2
Therefore, In Rs. 3/2, the number of oranges sold = 1
Therefore, In Rs. 24, the number of oranges sold
= 2/3 * 24 = 16

2. The selling price of 20 articles is equal to the cost price of 22 articles. The gain percentage is
1) 12%  2) 9%  3) 10%  4) 11%  5)None of these
Solution (3) .Here, a = 22 and b = 20, then
Therefore gain % = (a – b) / b * 100%
= 22 – 20 / 20 * 100% = 10%

3. If the cost price of 23 toys is equal to selling price of 20 toys, then the gain or loss percentage is
1) 12  2) 14  3) 15  4) 12 ½  5)None of these
Solution .(3)
Here, a = 23, b = 20
Therefore Required Percentage Profit
= (a – b / b) * 100%
= (23 – 20) / 20 * 100% = 15%

4. The cost price of 24 apples is same as the selling price of 18 apples. The percentage of gain is
1) 12 ½ %  2) 14 2/3%  3) 16 2/3%  4) 33 1/3%  5) None of these
Solution (4).
Here, 6 Apples are gained over 18 apples.
Therefore Gain % = ((6/18) * 100) % = 33 1/3 %

5. A dishonest dealer sells his goods at 10% loss on cost price but uses 20% less weight. What is his
profit or loss per cent ?
1) 12% loss   2) 22.5% gain   3) 13.9% loss   4) 12.5% gain   5) None of the above
Solution . (4) .
Here, a = 10% and b = 20%
According to the formula,
Required answer = [( b±a )/ (100 – b) * 100 ] %
= (20 – 10) / (100 – 20) * 100 %
= 10 / 80 * 100 % = 12.5 % gain.

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