BANK & INSURANCE (PROFIT LOSS AND DISCOUNT) PART 1

Total Questions: 70

41. After selling a saree for Rs. 3360 a shopkeeper suffers a loss of 16%. If he wants to earn 15% profit after giving the discount of 8%, what will be the marked price of the saree?

Correct Answer: (e) None of these
Solution:according to the formula:
C.P = S.P/(100 – loss%) × 100
⇒ C.P = 3360/(100 – 16) × 100
⇒ C.P = (3360/84) × 100
⇒ C.P = 40 × 100
⇒ C.P = Rs. 4000
∴ Marked Price = C.P × (100 + profit%)/(100 – discount%)
⇒ 4000 × (100 + 15)/(100 – 8)
⇒ 4000 × (115/92)
⇒ 4000 × 1.25
⇒ Rs. 5000
∴ The marked price of the saree should be Rs. 5,000.

42. A bookshop sells books whose marked price is Rs. 300 at a discount of 15% and gives a pamphlet costing Rs. 15 free with each book. Even then he makes a profit of 20%. What is his cost price per book?

Correct Answer: (a) 200
Solution:Marked Price = Rs. 300
∴ Selling Price = [(85/100 × 300) – 15]
⇒ [(85 × 3) – 15] = 255 – 15 = Rs. 240
∴ Gain = 20%
∴ C.P = (100/120) × 240 = 100 × 2 = Rs. 200
∴ The Cost price of each book is Rs. 200.

43. Two types of rice costing Rs. 30 per kg and Rs. 40 per kg respectively are mixed in the ratio 2 : 3 by weight. If two-fifth of the mixture is sold at Rs. 50 per kg and remaining part at the rate Rs. 60 per kg, then the profit percent is

Correct Answer: (a) 55.55%
Solution:Let the weight of rice be 2 kg and 3 kg
Total weight = 5 kg
According to the question,
Cost price Rs. 30 per kg and Rs. 40 per kg respectively are mixed in the ratio 2 kg and 3 kg by weight
⇒ (2 × 30 + 3 × 40) = Rs. 180
Selling price two-fifth of the mixture is sold at Rs. 50 per kg and remaining part at the rate Rs. 60 per kg
⇒ (2 × 50 + 3 × 60)
⇒ 100 + 180 ⇒ Rs. 280
Profit% = (selling price – cost price)/cost price × 100
⇒ ((280 – 180)/180) × 100
⇒ (100/180) × 100
⇒ 55.55%
∴ The profit percent is 55.55%

44. Uday sells his vehicle at 15% profit to prabhakar, Prabhakar sells it to lavi at 10% profit, lavi sells it to Deepak at 12.5% profit. Deepak sells it to baarish at 20% loss. Find difference between cost price of baarish and uday.

Correct Answer: (a) Rs (1108/8000) x X
Solution:

Let, Cost price of vehicle be X uday
⇒ Selling price of vehicle at uday
= X + ((15/100) × X)
⇒ Selling price of vehicle at uday = C.P for prabhakar = (23/20) × X
⇒ Selling price for prabhakar = ((23/20) × X) + ((23/20) × X × (10/100))
⇒ Selling price for prabhakar = Cost price for lavi
= (23/20) × (11/10) × X
⇒ Selling price for lavi = cost price for Deepak = (23 × 11)/(20 × 10) × X × (1.125)

⇒ Selling price for lavi = Cost price for Deepak =
(23/20) × (11/10) × (9/8) × X

⇒ Selling price for Deepak = cost price for baarish =
(23 × 11 × 9)/(20 × 10 × 8) × X (1 – 0.20)

⇒ Cost price for baarish = ((23 × 11 × 9 × 4)/(20 × 10 × 8 × 5)) × X

⇒ C.P for baarish = (9108/8000) × X

⇒ Difference = (9108/8000) × X – X

⇒ Difference = (1108/8000) × X

∴ Required difference (1108/8000) × X

45. A shopkeeper marked a price of an article at x% above the cost price and he sold it discount of 0.5x%, then he earns 8% profit, Find the value of x, if x is greater than 20.

Correct Answer: (d) 80
Solution:

According to the question
⇒ x – 0.5x – x(0.5x)/100 = 8
⇒ 0.5x – x²/200 = 8
⇒ x² – 100x + 1600 = 0
⇒ x² – 80x – 20x + 1600 = 0
⇒ x(x – 80) – 20(x – 80) = 0
⇒ (x – 80)(x – 20) = 0 ⇒ x = 80, 20
According to the condition, x = 80
∴ The value of x is 80.

46. The marked price of the table is Rs.4000. If the shopkeeper allows three different successive discounts 10%, 15% and 20% respectively and the selling price of the table is 50% more than the cost price of the table, then find the cost price of the table?

Correct Answer: (a) Rs.1632
Solution:

MP of table = Rs.4000
CP of table = x
SP of table = 150/100 × x = 3x/2

3x/2 = 4000 × 90/100 × 85/100 × 80/100
3x/2 = 2448
x = Rs.1632

47. A shopkeeper marked the price of an article is 60% more than the cost price of the article and sold it to P after giving 15% discount on the marked price and P sold it to Q at profit of 40%. If the shopkeeper bought it at Rs. 127500, then at what price did P sold the article to Q?

Correct Answer: (e) Rs.242760
Solution:

Cost price of the article is Rs. 127500
Marked price of the article = 160/100 × 127500 = 204000
S.P of the article = C.P of the article for P = 85/100 × 204000 = 173400
the S.P of the article sold by P to Q = 173400 × 140/100

Thus, the S.P of the article sold by P to Q is Rs 242760.

48. If the ratio of the cost price of table to chair is 5: 4 and the shopkeeper earns the profit of table and chair is 20% and 15% respectively. If the difference between the selling price of table and chair is Rs.280, then find the cost price of table?

Correct Answer: (c) Rs.1000
Solution:

SP of Table = 5x × 120/100 = 6x
SP of chair = 4x × 115/100 = 4.6x

6x – 4.6x = 280
1.4x = 280
x = 200

CP of table = 200 × 5 = 1000

49. If the selling price of the mobile is Rs.6000 and the ratio of the marked to cost price of the mobile is 5: 3. If the shopkeeper offers a discount of 20% on the marked price of the mobile, then find the profit percentage of the mobile?

Correct Answer: (c) 33.33%
Solution:

SP of mobile = Rs.6000
MP of mobile = 5x
CP of mobile = 3x

5x × 80/100 = 6000
x = 1500

CP of mobile = 3 × 1500 = Rs.4500
Profit percentage = (6000 – 4500)/4500 × 100
= 33.33%

50. If the marked price of the article to cost price of the article in the ratio of 5: 4 and the shopkeeper offers a discount of 10% on marked price of the article. If the selling price of the article is Rs.6300, then what is the profit earned by the shopkeeper?

Correct Answer: (a) Rs.700
Solution:

MP = 5x, CP = 4x
SP = 5x × 90/100
SP = Rs.6300

5x × 90/100 = 6300
x = 1400

CP = 1400 × 4 = 5600
Profit earned by shopkeeper = 6300 – 5600 = 700