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Thursday, 8 October 2015

Profit & Loss for IBPS

1. A merchant fixed the selling price of his articles at Rs.700after adding 40% profit to the cost price.
As the sale was very low at this price level, he decided to fix the selling price at 10% profit. Find the new
selling price.
1) Rs.450 2) Rs.490 3) Rs.500 4) Rs.550 5) None of these
Solution: (4).
Let cost price = Rs.x
According to the question,
x * (100+40)/100
=700
x = (700 x 100)/140
=500
Therefore New selling price = [500 x (100 + 10)/100]
= 5 x 110 = 550 = Rs.550

2. A merchant has 1000 kg of sugar, part of which he sells at 8% profit and the rest at 18% profit. He
gains 14% on the whole. The quantity sold at 18% profit is
1) 500 kg 2) 600kg 3) 400kg 4) 640 kg 5) None of these
Solution: (2).
Let the sugar sold at 8% gain = x
Therefore sugar sold at 18% gain = ( 1000 – x )
Let CP of sugar = Rs.y per kg
Total CP = Rs.1000y
Therefore [(108/100) * xy ] + 118/100 (1000-x)y
= 114/100 *1000y
= 108xy + 118000y – 118xy = 114000y
= 10x = 4000
Therefore x = 400
Therefore Quantity sold at 18% profit
= 1000 – 400 = 600 kg

3. By selling an umbrella for Rs.30, a shopkeeper gains 20%. During a clearance sale, the shopkeeper
allows a discount of 10% of the marked price. His gain percentage during the sale season is :
1) 7  2) 7.5  3) 8  4) 9  5) None of these
Solution: (3).
Given, selling price of an umbrella = Rs.30
Profit percentage = 20 %
Therefore Cost price of an umbrella
= ( 30 x 100) / 120
= Rs.25
During the clearance sale, selling price of an umbrella
= (30 x 90)/100
= Rs.27
Therefore required profit percentage = (27- 25)/25 * 100 = 8%

4. Cost of a packet of coffee powder and a litre of milk are Rs.20 and Rs.30, respectively. 10 cups of
coffee is made with one packet coffee powder and for each cup 200 ml of milk is used.If coffee is sold
at25% profit, the selling price of each cup of coffee is
1) Rs.12.50 2) Rs.6.25    3) Rs.8 4) Rs.10 5) None of these
Solution: (4).
Cost of coffee powder used in one cup = 20/10 = Rs.2
Cost of milk used in one cup
= 30/100 x 200 = Rs.6
Therefore cost of each cup of coffee
= 2+6 = Rs.8
To gain 25% profit, sale price of each cup of coffee = 125% of 8 = Rs.10

Also Read :
Current Affairs Android App
IBPS RRB 2015 Notification
RBI Assistant recruitment 2015





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