Profit and Loss Test

Result

Profit and Loss Test - 4

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Question 1
1 / -0

A man sells an article at a gain of 10%. If he had bought it at 10% less and sold it for Rs. 132 less, he would have still gained 10%. The cost price of the article is

A
Rs. 1200

B
Rs. 1188

C
Rs. 1320

D
Rs. 1336

Solution

SP = 1.1CP
New cost price = 0.9CP
New selling price = SP - 132
According to the given condition,
[(new SP - new CP)/(new CP)]x100 = profit %
(1.1CP - 132 - 0.9CP)/(0.9CP) = 10/100
0.2CP - 132 = 0.09CP
0.11CP = 132
CP = Rs. 1200
Question 2
1 / -0

According to a survey, the population of a city increases by 10% every year for two years and then decreases by 10% every year for two years. If the population 4 years ago was 100000, what will it be after four years?

A
108900

B
98100

C
96100

D
98010

Solution

Percentage increase (R1) = 10%; n = 2
Percentage decrease (R2) = 10%; n = 2
Population 4 years ago = 100000

Population after 4 years = 100000 (1 + 10/100)² (1 - 10/100)²
= 100000 × 110/100 × 110/100 × 90/100 × 90/100 = 98010
Question 3
1 / -0

A watch was sold at a loss of 10 percent. If it was sold for $70 more, there would have been a gain of 4 percent. What was the CP of the watch?

A
$475

B
$500

C
$550

D
$600

Solution

Let the cost price of the watch is $x.
Selling Price = 0.9x$

New Selling Price = 0.9x + 70
New gain = 4% of x = 0.04x

According to the question,
0.9x + 70 - x = 0.04x
0.14x = 70
x = $500
Question 4
1 / -0

A man spends 85% of his income. If he saves $37.50, find the salary.

A
$246.50

B
$250

C
$254

D
$260

Solution

Let income be $x
Expenses = 85% of x = 0.85x
Savings = (1 - 0.85)x = 0.15x
0.15x = $37.50 {given}
x = $250
Question 5
1 / -0

In an election between two candidates, Mr. Hero secures 45% of the total votes, but is defeated by Mr. Zero by 300 votes. Find out the total number of votes polled, if it is known that all the votes polled are valid.

A
1200

B
1500

C
3000

D
3300

Solution

Let the total number of votes polled be x.
So, (55% - 45%) of total votes (x) = 300
Or 10% of x = 300
Or x = 3000