BANK & INSURANCE (PROFIT LOSS AND DISCOUNT) PART 2

Total Questions: 70

41. An article is marked 45% above its cost price and sold after two successive discounts of Rs. 11 and 20%, respectively, for a profit of Rs. 20. What should the selling price of the article if it must be sold for a profit of 25%?

Correct Answer: (e) Rs. 225
Solution:

Let the cost price of the article = Rs. ‘100y’

Then, according to the question,
[(100y × 1.45) - 11] × 0.8 = 100y + 20

(145y - 11) × 0.8 = 100y + 20

116y - 8.8 = 100y + 20

16y = 28.8

y = 28.8 ÷ 16 = 1.8

So, cost price of the article = 1.8 × 100 = Rs. 180

So, required selling price = 180 × 1.25 = Rs. 225

42. The cost price of article ‘B’ is Rs. 140 more than that of article ‘A’. If articles ‘A’ and ‘B’ are sold at profit of 25% and loss of 30%, respectively, then overall loss incurred is Rs. 62. Find the average of cost prices of articles ‘A’ and ‘B’ together.

Correct Answer: (a) Rs. 470
Solution:

Let the cost price of article ‘A’ = Rs. ‘100y’

Then, cost price of article ‘B’ = Rs. (100y + 140)

According to the question:
100y × 1.25 + (100y + 140) × 0.7 = 100y + 100y + 140 - 62

125y + 70y + 98 = 200y + 78

195y + 98 = 200y + 78

5y = 20

So, y = (20/5) = 4

So, cost price of article ‘A’ = 100 × 4 = Rs. 400

Cost price of article ‘B’ = Rs. 540

So, required average = (400 + 540) ÷ 2 = Rs. 470

43. The ratio of the cost price of mobile to laptop is 5:9 and the ratio of the cost price of laptop to computer is 3:2. If the computer sold at the profit of 20% and selling price of the computer is Rs. 14400, then what is the difference between the cost price of mobile and laptop?

Correct Answer: (d) Rs. 8000
Solution:Ratio of the cost price of mobile, laptop and computer = 5 : 9 : 6
Cost price of computer = 100/120 × 14400
= 12000
Cost price of mobile = 5/6 × 12000 = 10000
Cost price of laptop = 9/6 × 12000 = 18000
Difference = 18000 - 10000 = 8000

44. Sohan bought 20 Kg of rice for Rs.45/Kg and 30 Kg of wheat for Rs.40/Kg. He sold half of the rice at a profit of 20%. Half of the remaining at a loss of 5% and rest at a profit of 25%. He sold whole wheat at a profit of 10%. Find his overall profit percent.

Correct Answer: (e) 12.14%
Solution:

Total cost price = 20 × 45 + 30 × 40
= 900 + 1200
= Rs.2100

Selling price of rice = 20/2 × 45 × 120/100 + 10/2 × 45 × 95/100 + 5 × 45 × 125/100
= 540 + 213.75 + 281.25
= Rs.1035

Selling price of wheat = 30 × 40 × 110/100 = Rs.1320

Total selling price = 1035 + 1320 = Rs.2355

Profit percent = (2355 - 2100)/2100 × 100
= 255/2100 × 100 = 12.14%

45. If the ratio of the marked price to cost price of the article is 2 : 1 and the shopkeeper offer a discount of x% on marked price while he gets 25% of the profit. If the difference between the marked price and cost price of the article is Rs.2000, then find the value of x?

Correct Answer: (e) None of these
Solution:

2x - x = 2000
x = 2000
MP = 2 × 2000 = 4000
CP = 2000

4000 × (100 - x)/100 = 2000 × 125/100
100 - x = 62.5
x = 37.5%

46. Shopkeeper bought two power bank for Rs. 800 each. If he sold one at a profit of x % and another at a loss of 25 %, then in the whole transaction, there is no profit or loss. Find the value of ‘x’?

Correct Answer: (a) 25
Solution:

According to the question,
800 × [(100 + x)/100] + 800 × (75/100) = 1600
800 + 8x + 600 = 1600
8x + 1400 = 1600
8x = 200
x = 25

47. Ratio of the marked price to selling price of the mobile is 6:5. If the shopkeeper offers a discount 16.67% on laptop and the difference between the selling price of mobile and laptop is Rs.10000. If the marked price of the mobile is half of the marked price of the laptop, what is the cost price of the laptop, if marked price of the laptop is 60% above the cost price?

Correct Answer: (c) Rs.15000
Solution:

MP of mobile = 6x
SP of mobile = 5x
Mp of laptop = 12x
SP of laptop = 12x × 83.33/100 = 12x × 5/6 = 10x

10x - 5x = 10000
=> 5x = 10000
=> x = 2000

Marked price of laptop = 2000 × 12 = 24000
Cost price of laptop = 24000/160 × 100
= Rs.15000

48. Sunil purchased 120 apples for Rs.10 per apple. He sold 25% of the apple is Rs.8 per apple, 50% of the remaining apple sold as Rs.12 per apple and the remaining apple sold at Rs.10 per apple. What is the profit or loss for the whole transaction?

Correct Answer: (b) Rs.30 profit
Solution:

CP = 10 × 120 = Rs.1200
25% of the apple = 25/100 × 120 × 8 = Rs.240
Remaining apple = 120 - 30 = 90
50% of the remaining = 90 × 50/100 × 12 = Rs.540
Remaining apple = 45 × 10 = Rs.450

Total selling price = 450 + 240 + 540 = 1230
Profit = 1230 - 1200 = 30

49. Surya sold the House to Nitish at the profit of 20%, Nitish sold the same House to Shon at the profit of 25% and Shon sold that house to Kevin at the profit of 15%. If Kevin paid Rs.17.25 lakh, then the amount paid by Surya?

Correct Answer: (b) 10 lakh
Solution:x × 120/100 × 125/100 × 115/100 = 1725000
x = 1000000

50. A shopkeeper bought two articles at same price. He sold one of the articles at the profit of 40 %. If on selling the second article, he incurred a loss, which was one-fourth of profit earned on selling the first article, then find the overall profit %?

Correct Answer: (c) 15 %
Solution:

Let the cost price be Rs. 100,
CP1 = 100, CP2 = 100, Total cost price = 200

Total selling price = 100 × (140/100) + [100 - 40 × (1/4)] = 230

Profit % = (30/200) × 100 = 15 %