Profit And Loss - Study Mode

[#431] Two successive discount of 10% and 20% are equivalent to a single discount of:
Correct Answer

(B) 28%

Explanation

Solution: Use Formula, Equivalent Discount = (A + B) - $$frac{{{ ext{AB}}}}{{100}}$$ where A = First Discount, B =Second Discount. Equivalent Discount = (20 + 10) - $$frac{{20 imes 10}}{{100}}$$ Equivalent Discount = 30 - 2 = 28% Graphic Change Method 100 == 20%(disc.) ⇒ 80 == 10%(disc.) ⇒ 72 Equivalent discount = 28%

[#432] A dealer allows his customer a discount of 25% and still gains 25%. If cost price of a radio is Rs. 1440, its marked price is:
Correct Answer

(C) Rs. 2400

Explanation

Solution: Let MP = X CP = 1440 SP = 1440 + 25% of 1440 = Rs. 1800 SP = MP - 25% of MP SP = X - 25% of 100 SP = X - 0.25X 1800 = 0.75X X = 2400 MP = Rs. 2400 Short-Cut Let the marked price = Rs. x Hence, $$frac{{{ ext{75}} imes { ext{x}}}}{{100}} = 1440 imes frac{{125}}{{100}}$$ ⇒ $$frac{{1440 imes 125}}{{75}}$$xa0 = Rs. 2400

[#433] The selling price of an article after giving two successive discounts of 10% and 5% on the marked price is Rs. 171. What is the marked price?
Correct Answer

(A) Rs. 200

Explanation

Solution: Equivalent Discount, =(A + B) - $$ {frac{{{ ext{AB}}}}{{100}}} $$ = (10 + 5) - $$ {frac{{10 imes 5}}{{100}}} $$ = 14.5% Let MP = X Now, X - 14.5% of X = 171(Selling Price) 0.855X = 171 X = 200 Hence, MP = Rs. 200 Going through options, 200(MP) == 10%(disc.) ⇒ 180 == 5%(disc.) ⇒ 171(CP)

[#434] A man purchased some fruits for Rs. 1000. He sold few fruits worth 400 at 10% profit. At what profit per cent, must he sell the rest in order to gain 20% on the whole?
Correct Answer

(A) $$26frac{2}{3}$$%

Explanation

Solution: To get 20% profit on whole, 1000(CP) ⇒ 20%(gain) ⇒ 1200(SP) Total Profit = 1200 - 1000 = Rs. 200 400 ⇒ 10%(gain) ⇒ 440 He gets Rs. 40 profit on 400 Rest Profit = 200 - 40 = 160
Then he must get Rs. 160 as profit on Rs. 600 Hence, % profit = $$frac{{160 imes 100}}{{600}}$$ = $$frac{{80}}{3}$$ = $$26frac{2}{3}$$%

[#435] A dealer offers a cash discount of 20% and still makes a profit of 20%, when he further allows 16 articles to a dozen to a particularly sticky bargainer. How much percent above the cost price were his wares listed?
Correct Answer

(A) 100%

Explanation

Solution: Let the CP of the article be Rs. x, since he earns a profit of 20%, hence SP = X + 20% of X = 1.2x
It is given that he incurs loss by selling 16 articles at the cost of 12 articles [loss = $$frac{{16 - 12}}{{16}}$$xa0 = 25%]
His selling price = SP - 25% of SP = SP × 0.75
Hence, SP × 0.75 = 1.2X Or, SP = $$frac{{1.2 imes { ext{x}}}}{{0.75}}$$xa0 = 1.6X This SP is arrived after giving a discount of 20% on MP. Let MP = Y Y - 20% of Y = SP 0.80Y = 1.6X Y = 2X It means that the article has been marked 100% above the cost price. Or Marked Price was twice of cost price.