BANK & INSURANCE (PROFIT LOSS AND DISCOUNT) PART 2

Total Questions: 70

51. The profit earned after selling an article for Rs. 3,378 is the same as the loss incurred after selling the article for Rs. 2,922. At what selling price will a trader make a 30% profit on this article?

Correct Answer: (e) Rs. 4,095
Solution:Let the cost price of the article be Rs. x.
3378 - x = x - 2922
x = C.P. = (3378 + 2922)/2 = Rs. 3,150
S.P = 1.3 × 3150 = Rs. 4,095

52. A shopkeeper marks the price of the mobile 50% above the cost price and he allows the two successive discounts 20% and 15% respectively. What is the percentage of the profit earned by the shopkeeper?

Correct Answer: (b) 2%
Solution:

CP = x
MP = x × 150/100 = 3x/2
SP = 3x/2 × 80/100 × 85/100
= 51x/50

Required percentage = [(51x/50 - x)/x] × 100
= 1/50 × 100 = 2%

53. A shopkeeper marked an article at 50% above the cost price and sold it after two successive discounts of 10% and 20% respectively. If the shopkeeper gets the profit of Rs.960, then find the marked price of the article?

Correct Answer: (a) Rs.18000
Solution:

CP × 150/100 × 90/100 × 80/100 = CP + 960
0.08 CP = 960
CP = 12000

MP = 12000 × 150/100
= 18000

54. The marked price of cycle and Watch is Rs.2800 and Rs.3000 respectively. If the shopkeeper allows the discount on marked price of the cycle is Rs.800 which is 80% of the discount of watch, then what is the difference between the selling price of watch and cycle?

Correct Answer: (e) None of these
Solution:

MP of cycle = Rs.2800
MP of Watch = Rs.3000

SP of Cycle = 2800 - 800 = Rs.2000
Discount of watch = 800 × 100/80 = Rs.1000

SP of watch = 3000 - 1000 = Rs.2000

Difference = 2000 - 2000 = 0

55. If the profit earned on selling an article for Rs.2400 is 75% of the loss incurred on selling the same article for Rs.1700, then find the selling price of the article, if he earned a profit of 20%?

Correct Answer: (e) Rs.2520
Solution:

2400 - CP = (CP - 1700) × 75/100
9600 - 4CP = 3CP - 5100
7CP = 14700
CP = 2100

Required SP = 2100 × 120/100 = Rs.2520

56. A shopkeeper sold the Pen at the discount of 25% on marked price while he gets the profit of 20% on cost price of the pen. The marked price of the Pen is Rs.12. If he sold the pen for Rs.10, what would have his profit percent?

Correct Answer: (d) 33.33%
Solution:

12 × 75/100 = CP × 120/100
CP = Rs.7.5

Required percent = (10 - 7.5)/7.5 × 100
= 33(1/3)%

57. The selling price of the Laptop is 40% more than the selling price of the mobile and the selling price of the watch is 40% less than the selling price of the mobile. If the selling price of the laptop is Rs.4000 more than the selling price of the mobile, then what is the average of the selling price of the watch and mobile?

Correct Answer: (e) None of these
Solution:

Let SP of mobile = 500x
SP of laptop = 500x × 140/100 = 700x
SP of watch = 500x × 60/100 = 300x

700x - 500x = 4000
x = 20

SP of watch = 300 × 20 = Rs.6000
SP of mobile = 500 × 20 = Rs.10000

Average = (6000 + 10000)/2 = 16000/2 = 8000

58. Dress A is sold at 10% discount and earned a profit of Rs.525. Dress B is sold at 20% profit for Rs.840. Find the marked price of Dress A, if Cost price of dress A is 5% more than the cost price of Dress B.

Correct Answer: (a) Rs.1400
Solution:

MP of Dress A = x
CP of Dress B = 840/1.2 = Rs.700
CP of Dress A = 1.05 × 700 = Rs.735

=> 735 + 525 = (100 - 10)% of x
=> x = Rs.1400

59. A seller makes 10% profit when he gives 12% discount on marked price of his pencil box. After sometimes, he begins to provide 10% discount on its marked price. Now what is his percentage of profit?

Correct Answer: (b) 12.5%
Solution:

Let marked price = Rs.100
SP = 100 × 88/100 = Rs.88
CP = 88/110 × 100 = Rs.80

New price = 100 × 90/100 = Rs.90
New profit = 90 - 80 = Rs.10

Profit % = 10/80 × 100 = 12.5%

60. The shopkeeper sold the watch at the profit of 20% and the cost price of watch is Rs.3600. He earns x% profit on pendrive costing Rs.3000. If the overall profit on selling both watch and pen drive is 25%, then find the value of x?

Correct Answer: (d) 31%
Solution:

Overall profit = 25/100 × (3600 + 3000) = 1650

Profit on Watch = 3600 × 20/100 = 720

Profit on Pendrive = 1650 - 720 = 930

x = 930/3000 × 100
= 31%