BANK & INSURANCE (PROFIT LOSS AND DISCOUNT) PART 1

Total Questions: 70

51. A manufacturer estimates that on inspection 10% of the toys he produces will be rejected. He accepts an order to supply 100 toys at Rs.150 each. He estimates the profit on his outlay including the manufacturing of rejected toys to be 35%. Find the manufacturing cost price of each toy.

Correct Answer: (b) Rs.100
Solution:

If 100 toys are manufactured, then 10 will be rejected.

Total SP of 90 toys = 90 × 150 = 13500
Total CP of 100 toys = 13500 × 100/135 = Rs.10000
Manufacturing cost per toy = 10000/100 = Rs.100

52. If the marked price of the article is 25% more than the cost price of the article and the shopkeeper offers a discount of 15% while he gets the profit of Rs.250, then find the cost price of the article?

Correct Answer: (d) Rs.4000
Solution:

CP = x
MP = x × 125/100 = 5x/4

SP = 5x/4 × 85/100 = 17x/16

17x/16 – x = 250
x/16 = 250
x = 4000

53. A seller gives 15% discount on an item, if he marked up the price of item 40% above C.P and while selling he cheats the buyer by giving 10% less in weight. Find this overall profit percent (approximately).

Correct Answer: (a) 32%
Solution:

Let the CP be Rs.100
MP = Rs.140 and SP = 85/100 × 140 = Rs.119

He cheats by giving 10% less in weight.
CP = 100 × 90/100 = Rs.90

Profit % = (119 – 90)/90 × 100 = 32.22% ≈ 32%

54. If the shopkeeper sold the mobile for Rs.15000 then he gets some loss. If he sold the same mobile at Rs.19200 and then he gets profit which is double of loss. Find the cost price of the mobile?

Correct Answer: (e) None of these
Solution:

CP of the mobile = x
2 × (x – 15000) = (19200 – x)

2x – 30000 = 19200 – x
3x = 49200
x = 16400

55. A shopkeeper sold an item at a profit of 20%. If he reduces the price of the item by Rs. 900, he incurs a loss of 10%. What is the cost price of the item?

Correct Answer: (d) Rs.3000
Solution:

Let the cost price of the item be x,
According to the question,
120% of x – 90% of x = 900
30% of x = 900
30x/100 = 900
x = (900 × 100)/30
x = 3000

Cost price of the item = Rs. 3000

56. The marked price of the article is 25% more than the cost price of the article. If the discount offered by the shopkeeper is 16 % and the sum of the marked and cost price of the article is Rs.5760, then find the profit percentage of article.

Correct Answer: (a) 5%
Solution:

Let assume, CP = x
MP = x × 125/100 = 5x/4

5x/4 + x = 5760
9x = 5760 × 4
x = 2560

MP of the article = 5 × 2560/4 = Rs.3200
SP = 3200 × 84/100 = 2688

Profit = 2688 – 2560 = Rs.128
Profit percentage = 128/2560 × 100 = 5%

57. If the selling price of the mobile is Rs.31920 while the shopkeeper gets the loss of 30% and the selling price of watch is Rs.23850 while the shopkeeper gets the loss of 55%, then what is the difference between the shopkeeper sold the mobile at 30% profit and cost price of the watch?

Correct Answer: (b) Rs.6280
Solution:

CP of mobile = 31920 × 100/70 = Rs.45600
SP of mobile = 45600 × 130/100 = Rs.59280

CP of watch = 23850 × 100/45 = Rs.53000
Difference = 59280 – 53000 = Rs.6280

58. The marked price of the mobile is Rs.800 more than the cost price of the mobile and the shopkeeper offers a discount of 15% on marked price of the mobile. If the shopkeeper gets the profit of 10%, then find the marked price of the mobile.

Correct Answer: (b) Rs.3520
Solution:

CP of the mobile = x
MP of the mobile = x + 800

SP of the mobile = (x + 800) × 85/100

(x + 800) × 85/100 = x × 110/100
85x + 68000 = 110x
x = 2720

MP of mobile = 2720 + 800 = Rs.3520

59. The marked price of the table is 45% more than the cost price of the chair and the ratio of the marked to cost price of the chair is 5:4. If the shopkeeper offers a discount of Rs.100 on marked price of the chair while he gets the profit of 12.5%, then find the marked price of the table?

Correct Answer: (a) Rs.1160
Solution:

CP of chair = 4x
MP of chair = 5x
SP of Chair = 5x – 100

5x – 100 = 4x × 112.5/100
0.5x = 100
x = 200

CP of chair = 4 × 200 = 800
MP of table = 800 × 145/100 = Rs.1160

60. The marked price of the car is 25% more than its cost price. If the shopkeeper allows the discount of 15% on marked price of the car and the profit earned by shopkeeper is Rs.5000, then find the discount offered by shopkeeper?

Correct Answer: (e) Rs.15000
Solution:CP = 4x
MP = 4x × 125/100 = 5x
SP = 5x × 85/100 = 4.25x
4.25x – 4x = 5000
x = 20000
MP = 5 × 20000 = 100000
Discount = 100000 × 15/100 = Rs.15000