BANK & INSURANCE (PROFIT LOSS AND DISCOUNT) PART 3

Total Questions: 70

51. By selling a mobile at 52% discount, a seller incurs a loss of 8%. The marked price of the product is 18000 Rs. At what percent discount the seller should sell the mobile so as to have a profit of 33% (approx.)

Correct Answer: (a) 31%
Solution:

Since, Marked Price = 18000
Therefore, Selling Price = 18000 × 0.48 = 8640
Loss of 8% is there
Therefore, cost price = 8640/0.92 = 9391.30 Rs

To have profit of 33%
The Selling Price should be = 9391.30 × 1.33
= 12490.42

Hence, Discount should be 18000 − 12490.42
= 5509.58 Rs

Discount % should be [5509.58/18000] × 100 = 30.60 ≈ 31%

52. In a certain mall, the profit is 160% of the cost. If the cost increases by 12.5% but the selling price remains constant, approximately what percentage of the selling price is the profit?

Correct Answer: (a) 57%
Solution:Let C.P. = Rs. 100.
Then, Profit = Rs. 160, S.P. = Rs. 260.
New C.P. = 112.5% of Rs. 100 = Rs. 112.5
New S.P. = Rs. 260.
Profit = Rs. (260 − 112.5) = Rs. 147.5
Required percentage = 147.5/260 × 100 = 57% (approx.)

53. The market price of a novel was 50% more than its cost price. Vadi was going to sell it at market price to a customer, but he showed some defects to Vadi in the novel, due to which vadi gave him a discount of 33%. Next day he came again and showed vadi some more defects, hence he gave him another discount that was equal to 14.5% of the cost price. What was the approximate profit/loss to vadi?

Correct Answer: (a) 14.5% loss
Solution:

Let the cost price be Rs.100
Then, marked price is Rs.150

Now, the first discount is of 33% Rs.150 = Rs.50
Hence, its selling price = 150 − 50 = Rs.100
since vadi’s selling at cost price, any further discount
will be equal to loss %
The next discount of 14.5% will be the loss percentage to vadi

54. A taxi driver makes a profit of 25% on every trip when he carries 4 passengers and the price of petrol is Rs. 35 a liter. Find the approximate % profit for the same journey if he goes for 5 passengers per trip and the price of petrol reduces to Rs. 28 liters?

Correct Answer: (a) 95.28%
Solution:

When 4 passengers income was 4x
Expense = Rs.35.
Profit = 25% of 35 + 35 = Rs.43.75
That means his earning is Rs.44.775, so that per passenger fare must be Rs.10.93

When 5 passengers earning = 10.99 × 5 = Rs.54.68
Expense = Rs.28
Profit = 95.28 % approx.

55. Wipro is the leading IT company then the profit earned by same organization is distributed among HR and officers in the ratio of 13:7 respectively. If the number of HR is 104 and the number of officers is 156 and the amount received by HR is Rs 6000. What was the total amount of profit earned (in lakhs)?

Correct Answer: (a) 9.6 lakhs
Solution:Total amount distributed among 104 HR’s
= Rs. 104 × 6000 = Rs. 624000
Let the amount distributed to 156 officers be x
Then 624000/x = 13/7
Then x = Rs, 336000
The total profit = Rs. 624000 + 336000
= Rs. 9.6 lakhs

56. Shiv marked a chair 80% above the cost price and sold it after giving a discount of 12%. Had Shiv bought the chair for Rs. 50 less and sold it for Rs. 72 more, he would have made a profit of 80%. The cost price of the chair is:

Correct Answer: (e) Both (b) and (c)
Solution:

Let cost price of the chair is Rs.100x
Marked price of the chair = 1.80 × 100x = Rs. 180x
Selling price of the chair = 0.88 × 180x = Rs. 158.4x

According to question,
1.80 × (100x − 50) = 158.4x + 72
Or, 180x − 90 = 158.4x + 72
Or, 21.6x = 162
Or, x = 7.5

Cost price of the chair = 7.5 × 100 = Rs. 750

For option ‘a’:
Profit = 2000 − 1350 = Rs. 650
So, option ‘a’ can’t be the answer.

For option ‘b’:
Marked price of the bottle = 675/0.75 = Rs. 900
Cost price of the bottle = 900/1.2 = Rs. 750
So, option ‘b’ can be the answer.

For option ‘c’:
Cost price of the object = 840/1.12 = Rs. 750
So, option ‘c’ can be the answer.

Hence, option e.

57. Sasi is a badham merchant in kerala. He has badham in sealed wooden boxes of 15kg each. The price of the badham increases by Rs.30 per kg for every year, but at the same time, 10% of the badham are eaten by rodents every year. If the price of a 1 kg of fresh badham is Rs.240, what is the change in his profits if he sells a sealed box after one year of storage, rather than selling it fresh? (In Rs.)

Correct Answer: (a) 45
Solution:

Price of 1kg fresh badham = Rs.240
Therefore, price of 15kg = Rs.15 × 240 = 3600

10% of 15kg which eaten by rodents = 10 × 15/100 = 1.5kg

So, End of Year he had 15kg − 1.5kg = 13.5kg

So, he sells that 13.5kg with Rs.30 per kg profit
= 13.5 × 270 = 3645

He buy 15kg wooden box with badham for Rs.3600 and sell that for Rs 3645

So, profit = 3645 − 3600 = Rs.45 more money he get.

58. The profit percentage of banu and renu is same on selling the articles at Rs 900 each but banu calculates his profit in selling price while renu calculates it correctly on the cost price which is equal to 10%. What is the difference in their profits?

Correct Answer: (a) 8.18
Solution:

When profit calculate on SP the profit = 10% of 900 = 90

When profit calculate on CP(x) = x + x/10 = 900
11x = 9000

X = 818.18
Profit = 81.82
Required difference = 90 − 81.82 = Rs. 8.18

59. P and Q both are dealers of cars. The price of a car is Rs 56000. P gives a discount of 10% on whole, while Q gives a discount of 12% on the first Rs 40,000 and 8% on the rest Rs 16000. What is the difference between their selling prices?

Correct Answer: (a) 480
Solution:Discount offer by P = 10% of 56000 = Rs. 5600
Total discount offer by Q = 12% of 40,000 + 8% of 16000
= 4800 + 1280 = Rs. 6080
Required difference = 6080 − 5600 = Rs. 480

60. A Barbie doll is available at Ratna stores in salem at 20% discount and the same is available at only 18% discount at Royal stores in attur. Deepika has just sufficient amount of Rs 800 to purchase it at Ratna stores in salem. What is the amount that deepika has less than required amount to purchase it at Royal stores in attur?

Correct Answer: (a) 20
Solution:100% = 1000
When discount 18%, then,
SP = 1000 − 180 = 820
Required difference = 820 − 800 = Rs. 20