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- Profit n Loss Quiz 1

Important for :

1

2

B

The manufacturer sells the product to retailer, and then retailer sells to the customer.

Assume manufacturing cost = 100 and manufacturer profit = x

As Maximum Retail Price (MRP) of a product is 60% above its manufacturing cost,

MRP = 160% of 100 = 160

The retailer gives 15% discount on MRP. So, customer price is 85% of MRP.

Buyer Price = 85% of 160 = 136

Manufacturer makes x rupees profit, and then retailer makes 19% profit.

So, 119% of (100 + x) = 136

⇒ 119 (100 + x) = 13600

⇒ 119 (100 + x) = 13600

⇒ (100 + x) = 114.28

⇒ x = 14.28

Hence, Manufacturer profit = 14.2%

The correct option is B.

3

B

We can compare Selling Price to get the answer.

**First Scenario:** When markup was 40%

= 140% of 5000 = 7000

**Second Scenario:** When there is markup of 80 % and then a discount of 20%

= 80% of 180% of 5000 = 7200

In the second scenario, he is earning Rs. 200 less.

So we can say that he would have earned Rs. 200 less, had he not gotten greedy.

Hence, option B is correct.

= 140% of 5000 = 7000

= 80% of 180% of 5000 = 7200

In the second scenario, he is earning Rs. 200 less.

So we can say that he would have earned Rs. 200 less, had he not gotten greedy.

Hence, option B is correct.

4

D

Let the cost of B be 100x ( for the sake of ease in computation)So cost of A becomes 200x

Now SP of A becomes 90% of 200x = 180x

And SP of B becomes 100x × | 7 | = 140x |

5 |

The difference between both of them is 40x

Since this difference corresponds to Rs. 1200, 40x = 1200 or x = 30

There cost of A becomes 200 × 30 = Rs. 6000

Hence, option D is correct.

5

D

Let the total sales be Rs. 100Women's shirt comprise 60% of the output

⇒ Rs. 60 out of Rs. 100 is sales of female’s shirts

∴ Men's shirts comprise (100 – 60) = 40% of the output

⇒ Rs. 40 out of Rs. 100 is the sales of male’s shirts

∴ Average profit from men's shirt = 9% of 40 = Rs. 3.6

Overall average profit = 5 % of 100 = Rs. 5

∴ Average profit from women's shirts = 5 – 3.6 = Rs. 1.4

This is from the sale of Rs. 60

∴ The profit per rupee is |
1.4 | = 0.0233 |

60 |

Hence, option D is correct.

Profit and loss are the terms related to transactions in trade and business. Whenever a purchased article is sold, then either profit is earned or loss is incurred. This chapter teaches us how to calculate such profit and loss.

**Cost Price (CP)** This is the price at which an article is purchased.

**Selling Price (SP) **This is the price at which an article is sold.

**Overhead Charges **Such charges are the extra expenditures on purchased goods apart from the actual cost price. Such charges include freight charges, rent, salary of employees, repairing cost on purchased articles etc. Point to be noted that overhead charges are not taken into consideration, if not given in the question.

**Profit (SP > CP) **When an article is sold at more price than its cost price, then profit is earned. In other words, SP is always greater than CP in case of profit.

**Loss (SP < CP) **When an article is sold at less price than its cost price, then loss is incurred. In other words, SP is always less than CP in case of loss.

In this “Profit n Loss Questions for SBI PO”, we will discuss all types of Profit n Loss questions with short tricks and formulas. So we can give better performance if we find Profit n Loss questions in SBI PO Pre 2020.

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Question:

15.2%

14.2%

13%

12.5%

None of these

The manufacturer sells the product to retailer, and then retailer sells to the customer.

Assume manufacturing cost = 100 and manufacturer profit = x

As Maximum Retail Price (MRP) of a product is 60% above its manufacturing cost,

MRP = 160% of 100 = 160

The retailer gives 15% discount on MRP. So, customer price is 85% of MRP.

Buyer Price = 85% of 160 = 136

Manufacturer makes x rupees profit, and then retailer makes 19% profit.

So, 119% of (100 + x) = 136

⇒ 119 (100 + x) = 13600

⇒ (100 + x) = 114.28

⇒ x = 14.28

Hence, Manufacturer profit = 14.2%

The correct option is B..

**Profit n Loss Questions for LIC AAO**

**Questions:** An Article costs Rs. 5000 and it is marked up 40% by the shopkeeper. A customer walks into the shop and seems really interested in the article. Sensing this, the shopkeeper gets greedy and he raises the markup % to 80% and gives a discount of 20% to the customer. How much more/less money would he had made, had he not gotten greedy?

Rs. 200 more

Rs. 200 less

Rs. 400 more

Rs. 400 less

None of these

= 140% of 5000 = 7000

= 80% of 180% of 5000 = 7200

In the second scenario, he is earning Rs. 200 less.

So we can say that he would have earned Rs. 200 less, had he not gotten greedy.

Hence, option B is correct.

**Profit n Loss Questions for IBPS Clerk**

**Question:** A firm of readymade garments makes both men’s and women’s shirts. Its average profit is 5% of the sales. Its profit in men’s shirts average 9% of the sales and women’s shirts comprise 60% of the output. The average profit per sale rupee in women shirts is

0.0266

0.0466

0.0433

0.0233

None of these

**Explanation: **

Let the total sales be Rs. 100

Women's shirt comprise 60% of the output

⇒ Rs. 60 out of Rs. 100 is sales of female’s shirts

∴ Men's shirts comprise (100 – 60) = 40% of the output

⇒ Rs. 40 out of Rs. 100 is the sales of male’s shirts

∴ Average profit from men's shirt = 9% of 40 = Rs. 3.6

Overall average profit = 5 % of 100 = Rs. 5

∴ Average profit from women's shirts = 5 – 3.6 = Rs. 1.4

This is from the sale of Rs. 60

∴ The profit per rupee is |
1.4 | = 0.0233 |

60 |

Hence, option D is correct.

**Question:** A costs twice as much as B. A is sold at a loss of 10% and B is sold at 7/5th of its price. If selling price of A is Rs. 1200 more than selling price of B, what is the cost price of A?

Rs. 2400

Rs. 3000

Can't be determined

Rs. 6000

None of these

**Explanation: **

Let the cost of B be 100x ( for the sake of ease in computation)

So the cost of A becomes 200x

Now SP of A becomes 90% of 200x = 180x

And SP of B becomes 100x × | 7 | = 140x |

5 |

The difference between both of them is 40x

Since this difference corresponds to Rs. 1200, 40x = 1200 or x = 30

There cost of A becomes 200 × 30 = Rs. 6000

Hence, option D is correct.

We hope, the above

Quantitative Aptitude for SBI PO 2020

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Team Smartkeeda