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Aptitude Profit and Loss Practice QA

3097.A trader keeps the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is
None
30%
25%
20%
Explanation:

Let the Cost Price (CP) = 100

Then Market Price = $\dfrac{100 \times 135}{100}$ = 135

If he wants to gain 8%, SP = $\dfrac{\left(100 + Gain\%\right)}{100} \times CP$ = $\dfrac{\left(100 + 8\right)}{100} \times 100 =$ 108

Discount % = $\dfrac{\left(135-108\right)}{135} \times 100$ = $\dfrac{2700}{135}$ = 20

3098.John purchased a machine for Rs. 80,000. After spending Rs.5000 on repair and Rs.1000 on transport he sold it with 25% profit. What price did he sell the machine?
Rs.107000.
Rs.107500.
Rs.108500.
None of these
Explanation:

CP = 80,000 + 5000 + 1000 = 86000

Profit = 25%

SP = $\dfrac{\left(100 + Gain\%\right)}{100} \times CP$ = $\dfrac{\left(100 + 25\right)}{100} \times 86000$

= $\dfrac{125}{100} \times 86000 $=$ \dfrac{5}{4} \times 86000$ = $5 \times 21500 $= 107500

3105.A shopkeeper sells his goods at cost price but uses a weight of 800 gm instead of kilogram weight. What is his profit percentage?
18%
40%
25%
20%
Explanation:

If a trader professes to sell his goods at cost price, but uses false weights, then

Gain% = $\left[\dfrac{error}{true value-error}\times100\right]\%$

So here profit percentage = $\left[\dfrac{200}{\left(1000 - 200\right)} \times 100\right]\%$

= $\left[\dfrac{200}{800}\times100\right]$= 25%

3106.A trader gives 12% additional discount on the discounted price, after giving an initial discount of 20% on the labeled price of an item. The final sale price of the item is Rs.704. Find out the labeled price?
1000
2000
1200
920
Explanation:

Let the labeled price = $x$

SP = 704

Initial Discount = 20%

Price after initial discount = $x \times \dfrac{80}{100}$

Additional discount = 12%

Price after additional discount= $x \times \dfrac{80}{100}\times \dfrac{88}{100}$

But Price after additional discount = SP = 704

$\Rightarrow x \times \dfrac{80}{100}\times \dfrac{88}{100}$ = 704

$\Rightarrow x \times \dfrac{4}{5}\times \dfrac{22}{25} $= 704

$\Rightarrow x = 704 \times \dfrac{25}{22}\times \dfrac{5}{4} = 176 \times \dfrac{25}{22}\times 5 $

= $8 \times 25 \times 5 = 40 \times 25$ = 1000

3107.If a seller reduces the selling price of an item from Rs.400 to Rs.380, his loss increases by 2%. What is the cost price of the item?
1000
800
1200
1100
Explanation:

Initial Loss% = $\dfrac{CP - 400}{CP} \times 100$

If the SP is reduced from 400 to 380, Loss% = $\dfrac{CP - 380}{CP} \times 100$

It is given that If the SP is reduced from 400 to 380, Loss% increases by 2

$\Rightarrow \dfrac{CP - 380}{CP} \times 100 - \dfrac{CP - 400}{CP} \times 100$ = 2

$\Rightarrow \left(CP - 380\right) - \left(CP - 400\right) $= $\dfrac{2 \times CP}{100}$

$\Rightarrow 20 = \dfrac{2 \times CP}{100}$

$\Rightarrow CP = \dfrac{20 \times 100}{2}$ = 1000

3108.Prasanth bought a car and paid 10 % less than the original price. He sold it with 30% profit on the price he had paid. What percentage of profit did he earn on the original price?
17%
16%
18%
14%
Explanation:

Let the original price = 100

Then the price at which he purchased (CP)= 90% of 100 = 90

Profit = 30%

SP = $\dfrac{\left(100 + Profit\%\right)}{100} \times CP$ =$ \dfrac{\left(100 + 30\right)}{100} \times 90$

= $\dfrac{130}{100} \times 90 $ = $13\times 9$ = 117

Required% = $\dfrac{\left(117-100\right)}{100} \times 100$ = 17%

3111.In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?
30%
70%
100%
250%
Explanation:

Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs. 420.

Profit = Rs. (420 - 125) = Rs. 295.

$\therefore$ Required percentage =$ \left(\dfrac{295}{420} \times 100\right) $%=$ \dfrac{1475}{21} $% = 70% [approximately].

3113.A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is:
5$ \dfrac{15}{17} $% loss
5$ \dfrac{15}{17} $% gain
6$ \dfrac{2}{3} $% gain
None of these
Explanation:

C.P. of 1st transistor = Rs.$ \left(\dfrac{100}{120} \times 840\right) $= Rs. 700.

C.P. of 2nd transistor = Rs.$ \left(\dfrac{100}{96} \times 960\right) $= Rs. 1000

So, total C.P. = Rs. (700 + 1000) = Rs. 1700.

Total S.P. = Rs. (840 + 960) = Rs. 1800.

$\therefore$ Gain % =$ \left(\dfrac{100}{1700} \times 100\right) $%= 5$ \dfrac{15}{17} $%

3116.The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?
Rs. 2000
Rs. 2200
Rs. 2400
Data inadequate
Explanation:

Let C.P. be Rs. $ x $.

Then,$ \dfrac{1920 - x}{x} \times 100$ =$ \dfrac{x - 1280}{x} \times 100$

$\Rightarrow$ 1920 - $ x $ = $ x $ - 1280

$\Rightarrow$ 2$ x $ = 3200

$\Rightarrow x $ = 1600

$\therefore$ Required S.P. = 125% of Rs. 1600 = Rs.$ \left(\dfrac{125}{100} \times 1600\right) $= Rs 2000.

3117.A fruit seller sells apples at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%?
11.32
11
12
11.81
Explanation:

SP = 9

Loss = 20%

CP = $\dfrac{100}{(100 - Loss\%)} \times SP$ = $\dfrac{100}{(100 - 20)} \times 9$ = $\dfrac{100}{80} \times 9 $

= $\dfrac{5}{4} \times 9$

To make a profit of 5%, SP = $\dfrac{100 + Gain\%}{100} \times CP$ =$\dfrac{\left(100 + 5\right)}{100} \times CP$

=$\dfrac{105}{100} \times \dfrac{5}{4} \times 9 $= $\dfrac{105}{100} \times \dfrac{5}{4} \times 9$ = $\dfrac{21}{20} \times \dfrac{5}{4} \times 9$ =$ \dfrac{21}{4} \times \dfrac{1}{4} \times 9 $=$ \dfrac{189}{16} $= 11.81

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