Profit n Loss Quiz 1

Profit and Loss Problems for SBI Clerk Pre 2021, LIC Assistant 2020, CET at Smartkeeda

DIrections: Study the following information carefully and answer the questions given below:

Important for :

IBPS Clerk Pre IBPS RRB SBI Clerk Pre

A sold an article with 10% loss on the cost price. He bought the article at a discount of 20% on the labelled price. What would have been the percentage loss had he bought it at the labelled price?

» Explain it

Correct Option: D

Let the CP to 'A' = 100

After allowing a discount of 10% the SP will be = 90

As per the question,

'A' bought the article at 20% discount on Labelled Price. Therefore, the eq. will become like

⇒	80	of Labelled price = 100 ⇒ ∴ Labeled Price = 125
	100

Now, loss in value if the item was bought at LP = LP – SP = 125 – 90 = 35/-

Loss % =	35	× 100 = 28%.
	125

Hence, option D is correct.

The owner of a cell phone shop charges his customer 28% more than the cost price. If a customer paid Rs 8,960 for the cell phone, then what was the cost price of the cell phone?

» Explain it

Correct Option: E

Let the cost price of the cell phone be x, then,

128% of x = 8960

x ×	128	= 8960
	100

or, x =	8960 × 100	= ₹ 7000
	128

Hence, option E is correct.

A sells an article which cost him Rs. 400 to B at a profit of 20%. B then sells it to C, making a profit of 10% on the price he paid to A. How much does C pay to B?

» Explain it

Correct Option: C

CP for B = 120% of 400

=	120	× 400 = ₹ 480
	100

CP for C = 110% of 480

=	110	× 480 = ₹ 528
	100

Hence, option C is correct.

By selling an article for Rs. 480 a person lost 20%. For what should he sell it to make a profit of 20%?

» Explain it

Correct Option: C

Method I:

New SP =	100 + Gain%	× Old SP
	100 – Loss%

G% = L% = 20%, Old SP = 480

=	100 + 20	× 480 =	120	× 480
	100 – 20		80

New SP = 120 × 6 = 720.
______________________________________

Method II:

Let the cost price of the article be x

According to the question, we get

80% of x = 480

x =	480	× 100 = 600
	80

Reqd profit % = 120% of 600 = 720.

Hence, option C is correct.

Deepa bought a calculator at 30% discount on the listed price. Had she not got the discount, she would have paid Rs. 82.50 extra. At what price did she buy the calculator?

» Explain it

Correct Option: A

Let the original price be x, then

30% of x = 82.50