Profit and Loss

  • FORMULAS:
    1. SP > CP --> Profit 
    2. SP < CP ---> Loss 
    3. MRP - P ---> SP 
    4. Profit and Loss is always depended on Cost price only

1.

A table is bought for Rs.400/- and sold at Rs.500/- find gain or loss percentage 

   A.) 25% Loss
   B.) 30% Gian
   C.) 25% Gian
   D.) 30% Loss

Answer: Option 'C'

Formula = (Selling price ~ Cost price)/Cost price × 100 
            = (500 - 400)/400 = 25% gain

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2.

A chair is bought for Rs.900/- and sold at Rs.810/- find the loss percentage 

   A.) 10% gain
   B.) 10% loss
   C.) 12% loss
   D.) 12% gain

Answer: Option 'B'

Formula = (Selling price ~ Cost price)/Cost price × 100 
= (810 ~ 900)/900 = 10% Loss

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3.

A bat is bought for Rs.400 and sold at a gain of 20% find its selling price 

   A.) Rs.320/-
   B.) Rs.350/-
   C.) Rs.370/-
   D.) Rs.480/-

Answer: Option 'D'

100 % ------> 400 (100 × 4 = 400) 
120 % ------> 480 (120 × 4 = 480) 
Selling price = Rs.480/-

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4.

A chair is bought for Rs.600/- and sold at a loss of 10% find its selling price

   A.) Rs.540/-
   B.) Rs.560/-
   C.) Rs.580/-
   D.) Rs.600/-

Answer: Option 'A'

100 % ------> 600 (100 × 6 = 600) 
90 % ------> 540 (90 × 6 = 540) 
Selling price = Rs.540/-

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5.

By selling a watch for Rs.640/-, a man loses 20% what is that watch cost price 

   A.) Rs.400/-
   B.) Rs.600/-
   C.) Rs.800/-
   D.) Rs.1000/-

Answer: Option 'C'

80 % ------> 640 (80 × 8 = 640) 
100 % ------>800 (100 × 8 = 800) 
Cost price = Rs. 800/-

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6.

Harkamal purchased 8kg of grapes at the rate of 70 per kg and 9 kg of mangoes at the rate of 55 per kg. How much amount did he pay to the shopkeeper?

   A.) 1400
   B.) 1505
   C.) 1055
   D.) 1005

Answer: Option 'C'

Cost of 8 kg grapes = 70 × 8 = 560.
Cost of 9 kg of mangoes = 55 × 9 = 490.
Total cost he has to pay = 560 + 490 = 1055.

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7.

Suresh started a business, investing Rs.18000. After 3 months and 4 months respectively, Rohan and Sudhir joined him with capitals of 12000 and 9000. At the end of the year the total profit was Rs.3982. What is the difference between Rohan’s and Sudhir’s share in the profit? 

   A.) 354
   B.) 370
   C.) 362
   D.) 121

Answer: Option 'C'

                              Suresh       :      Rohan  : Sudhir
Ratio of their investments  = 18000 × 12   :   12000 × 9 : 9000 × 8
= 6 : 3: 2
The difference between Rohan’s and Sudhir’s share = 1 share
:.i.e. = Rs. 3982 × 1/11  = Rs.362.

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8.

Narendra started a business, investing 30000. Six months later, Chandan joined him with 15000. If they make a profit of 10000 at the end of the year, what should be the share of Narendra? 

   A.) 6000
   B.) 8000
   C.) 7200
   D.) 3600

Answer: Option 'B'

The ratio of their investments = 30000 × 12 : 15000 × 6 = 4 : 1.
:. Narendra’s share on profit of Rs.10000 = 10000 × 4/5 = Rs.8000.

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9.

By selling a book for 270, 20% profit was earned. What is the cost price of the book? 

   A.) 216
   B.) 226
   C.) 254
   D.) 225

Answer: Option 'D'

SP = 120% of CP; :. CP = 270 × 100/120 = 225

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10.

A shopkeeper sold some articles @ 35 per article and earned a profit of 40%. At what price each article should have been sold so that 60% profit was earned?

   A.) 45
   B.) 42
   C.) 39
   D.) 40

Answer: Option 'D'

SP = 140% of CP; :. CP = 35 × 100/140 = 25
Then, 60% of CP = 2.5 × 6 = 15
To set a profit of 60% the SP = 25 + 15 = 40.

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11.

By selling a bat for Rs.720/- a man loses 10% what is that bat cost price 

   A.) Rs.800/-
   B.) Rs.820/-
   C.) Rs.840/-
   D.) Rs.860/-

Answer: Option 'A'

90 % ------> 720 (90 × 8 = 720) 
100 % ------>800 (100 × 8 = 800) 
Cost price = Rs.800/-

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12.

By selling a watch for Rs.720/- a man loses 10% at what price should he sell it to gain 10%? 

   A.) Rs.800/-
   B.) Rs.880/-
   C.) Rs.900/-
   D.) Rs.990/-

Answer: Option 'B'

90 % ------> 720 (90 × 8 = 720) 
110 % ------> 880 (110 × 8 = 880) 
= Rs.880/-

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13.

A man sells an article at 10% gain. Had be sold at for Rs.60/- more he could have gained 20% what is cost price of article

   A.) Rs.500/-
   B.) Rs.600/-
   C.) Rs.700/-
   D.) Rs.800/-

Answer: Option 'B'

First selling price = 110 % -----> X Rupees 
=sold at for Rs.60/- = 120 % -----> X + 60 Rupees  

                          ~
----------------------------------------------
         10 % --------> 60
         100 % ------->Rs.600/-
OR 
Short cut method : 
---------------------------
Profit,Profit = - 
Ptofit,Loss = + 
Loss,Loss = - 
Loss,Profit = + 
---------------------------
OPPOSITE ==> + 
SAME ===> - 
----------------------------
Profit ==> 10 % 
profit ==> 20%  
       ~
----------------
       10 % ---------> 60
       100 % --------> Rs.600/-

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14.

A man sells an article at 5% loss. Had he sold it for Rs.60 more he could have gained 10%. What is the cost price of the article? 

   A.) Rs.400/-
   B.) Rs.600/-
   C.) Rs.722/-
   D.) Rs.700/-

Answer: Option 'A'

Short cut method: 
Loss =====> 5 % 
Profit ====> 10 % 
~
----------------
15 % ---------> Rs.60/-
100 % --------> Rs.400/-

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15.

A man sells an article at 7% loss. Had he sold it for Rs.72 more he could have gained 5%. what is the cost price of the article 

   A.) Rs.522/-
   B.) Rs.622/-
   C.) Rs.722/-
   D.) Rs.600/-

Answer: Option 'D'

Short cut method: 
Loss =====> 7 % 
Profit ====> 5 % 
~
----------------
12 % ---------> 72
100 % --------> Rs.600/-

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16.

The price of two tables and three chairs is Rs.5600. What will be the price of six tables and nine chairs?

   A.) 16800
   B.) 11200
   C.) 22400
   D.) None of these

Answer: Option 'A'

The cost of two tables + three chairs = 5600.
Multiply each term by 3, we get,
Cost of 6 table + 9 chairs = 16800.

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17.

Amit purchased a book with a 10% discount on the labeled price. How much did he pay if the labelled price was 600? 

   A.) 480
   B.) 360
   C.) 540
   D.) 340

Answer: Option 'C'

Selling Price = 600 – 10% of 600 = 600 – 60 = 540.

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18.

Kaavya sold an item for 4080 and incurred a loss of 20%. At what price should she have sold the item to have gained a profit of 20%? 

   A.) 6120
   B.) 5890
   C.) 5100
   D.) None of these

Answer: Option 'B'

Cost Price = 4080 × 100 /80          ( Because SP is 80% CP)
= Rs. 5100.
For 20% profit = Rs. 5100 + 1020 = 6120.

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19.

The owner of an electronic store charges his customer 9% more than the cost price. If a customer paid 1,26440 for an LED T.V., then what was the original price of the T.V.? 

   A.) 116000
   B.) 114700
   C.) 117500
   D.) 118200

Answer: Option 'A'

Selling Price = 109% of CP;
:. CP = 126440 × 100/109 = 116000.

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20.

The profit earned by selling on article for 900 is double the loss incurred when the same article is sold for 450. At what price should the article be sold to make 25% profit? 

   A.) 750
   B.) 800
   C.) 600
   D.) none of these

Answer: Option 'B'

Let ‘x’ be the CP of the article;
Then 900 – x = 2(x – 450); :. x= 600.
25% of 600 = 150
:. New SP = 600 + 150 = 750

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21.

If the selling price of 10 articles is same as the cost price of 12 articles. Find the gain or loss percentage? 

   A.) 20%gain
   B.) 20%loss
   C.) 30%gain
   D.) 30%loss

Answer: Option 'A'

Let the C.P of each article be Re 1. Then, 
S.P of 10 articles = C.P of 12 articles = Rs. 12 
Now, C.P of 10 articles = Rs. 10, S.p of 10 articles = Rs 12
Gain = Rs ( 12 - 10 ) = Rs 2. 
Gain% = ( 2/10 × 100 ) % = 20% 

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22.

 If the cost price of 20 articles is same as the selling price of 25 articles. Find the gain or loss percentage? 

   A.) 20%gain
   B.) 20%loss
   C.) 30%gain
   D.) 30%loss

Answer: Option 'B'

20 cp = 25 sp 
Cost price CP = 25 
Selling price SP = 20 
Formula = (SP-CP)/CP × 100 = (20 - 25)/25 × 100 = 20 % Loss 

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23.

Balls are bought at 11 for Rs.10/- and sold at 10 for Rs.11/-. Find the gain or loss percentage? 

   A.) 21%loss
   B.) 21%gain
   C.) 31%loss
   D.) 31%gain

Answer: Option 'B'

11 balls -----> Rs.10/- 
10 balls -----> Rs.11/- 
Note: Number of articles bought is must equal to number of articles sold.
10(11  10) ==> 110   100 = Cost price 
11(10  11) ==> 110   121 = Selling price 
Then, 21/100 × 100 = 21 % Profit 

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24.

Balls are bought at 9 for Rs.10/- and sold at 10 for Rs.9/-. Find the gain or loss percentage? 

   A.) 19%gain
   B.) 19%loss
   C.) 18%loss
   D.) 18%gain

Answer: Option 'B'

9 balls -----> Rs.10/- 
10 balls ----> Rs.9/- 
Note: In every time same in the cost price articles and selling price articles.
10(9  10) ==> 90  100 = Cost price 
9(10  9) ==> 90   81 = Selling price 
Then, 19/100 × 100 = 19 % Loss 

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25.

Bananas are bought at 4 for Rs.5/- and sold at 5 for Rs.4/-. Find the gain or loss percentage? 

   A.) 36%gain
   B.) 36%loss
   C.) 40%gain
   D.) 40%loss

Answer: Option 'B'

4 bananas -----> 5/- 
5 bananas ----> 4/- 
Note: In every time same in the cost price articles and selling price articles.
5(4  5) ==> 20  25 = Cost price 
4(5  4) ==> 20  16 = Selling price
Then, 9/25 × 100 = 36 % Loss 

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26.

A shopkeeper bought an article for Rs.319.60. Approximately at what price should he sell the article to make 25 per cent profit?

   A.) 600
   B.) 500
   C.) 450
   D.) 400

Answer: Option 'D'

25% of CP should be added to the CP to get a profit of 25%.
25% of 319.60 = 319.60/4 = 79.9.
:. SP = 319.60 + 79.9 = 399.50. = Rs.400. approx.

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27.

The profit earned by selling an article for 752 is 1.2 times the loss incurred when the same article is sold for 400. What is the cost price of the article? 

   A.) 520
   B.) 580
   C.) 560
   D.) None of these

Answer: Option 'C'

Let ‘x’ be the CP.
Then 752 – x = 1.2(x-400); = 752 – x = 1.2x -480
» 1232 = 2.2x; :. x=1232/2.2 = 560.

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28.

Shelly could get equal number of 25 per piece, 40 per piece and 65 per piece bangles. She spent a total of 1560 for all the bangles. How many of each type did she buy? 

   A.) 12
   B.) 14
   C.) 16
   D.) 18

Answer: Option 'A'

Let ‘x’ be the No. of bangles in each type which is equal for all the types. 
:. 25x + 40x + 65x = 1560
130x = 1560 and x= 12.

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29.

A television is brought for 13600 and sold at 15980. What is the gain per cent? 

   A.) 12.5%
   B.) 15%
   C.) 17.5%
   D.) 18.5%

Answer: Option 'C'

CP = 13600;          SP = 15980
Profit/ gain = 15980 – 13600 = 2380.
Gain percent = 2380 × 100/13600 = 17.5%.

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30.

A person sold 3/5 of a consignment at a profit of 35% and the rest at a loss of 25%. If there was an overall profit of 715, what is the actual cost of the consignment?

   A.) 6000
   B.) 6300
   C.) 6500
   D.) 7000

Answer: Option 'C'

Let the total CP = ‘x’
Then first SP = 3x/5 × 135/100 = 81x/100
And the second SP = 2x/5 × 75/100 = 30x/100
:. Total SP = 81x/100 + 3x/100 = 111x/100.
SP – CP = profit, So, 111x/100 – x = 715
i.e 11x = 71500 and so, x = 71500/11 = 6500

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31.

A dealer sells his goods at cost price 800gm weight for 1 kg his gain or loss percentage is 

   A.) 25%gain
   B.) 25%loss
   C.) 30%gain
   D.) 30%loss

Answer: Option 'A'

Cost price ---> 800 
Selling price --->1000 
= ( 1000 ~ 800 )/800 × 100 ==> 200/800 × 100 = 25% gain

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32.

A dealer sells his goods at cost price 900gm weight for 1kg his gain percentage is 

   A.) 9% Gain
   B.) 10% Gain
   C.) 11% Loss
   D.) 11 1/9% Gain

Answer: Option 'D'

Cost price ---> 900 
Selling price --->1000 
= ( 1000 ~ 900 )/900 × 100 ==> 100/900 × 100 = 11 1/9% gain 

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33.

A dealer sells his goods 10% less at cost price uses 750gm weight for 1kg his gain or loss percentage is 

   A.) 20%loss
   B.) 30%loss
   C.) 20%gain
   D.) 30%gain

Answer: Option 'C'

Cost price ---> 750 
Selling price --->1000 - 100 = 900 
= ( 900 ~ 750 )/750 × 100 = 150/750 × 100 = 20% gain

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34.

A single discount equivalent to successive discount of 30%, 20% is 

   A.) 56%
   B.) 44%
   C.) 65%
   D.) 34%

Answer: Option 'B'

(70 × 80)/100 = Rs.56/- 
Discount = 44 %

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35.

A single discount equivalent to successive discount of 20%, 10% is 

   A.) 72%
   B.) 28%
   C.) 32%
   D.) 76%

Answer: Option 'B'

(90 × 80)/100 = Rs.72/- 
100 - 72 = 28 % = Discout

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36.

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

   A.) 800
   B.) 760
   C.) 720
   D.) Rs.680

Answer: Option 'C'

Here SP = 80% of CP = 480
:. CP = 480 × 100/80 = 600.
For a profit of 20 % it should be = 600 × 120/100 = 720.

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37.

The profit earned after selling an article for 350 is the same as half of the loss incurred after selling the article for 260. What is the cost price of the article? 

   A.) 245
   B.) 292
   C.) 345
   D.) 320

Answer: Option 'D'

Let the profit = x.
Then, 350 – x = 260 + 2x;
x= 30; Cost Price = 350 – 30 = Rs.320.

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38.

Ram sold an article for 3480 and earned a profit of 16%. At what price should it have been sold so as to earn a profit of 32.5%? 

   A.) 3315
   B.) 3572
   C.) 4015
   D.) 3975

Answer: Option 'D'

SP = 116 % of CP = 3480 :. CP = 3480 × 100/116 = 3000/-'
32.5% of 3000 = 975'
:. The expected SP = 3000 + 975 = 3975.

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39.

A man leaves Rs.8600 to be divided among 5 sons, 4 daughters and 2 nephews. If each daughter receives four times as much as each nephew and each son receives five times as much as each nephew, how much does each daughter receive? 

   A.) 100
   B.) 600
   C.) 800
   D.) 1000

Answer: Option 'C'

5 sons + 4 daughters + 2 nephews = 8600.
One daughter = 4 nephews and one son = 5 nephews
Then 4 daughters = 16 nephews and 5 sons = 25 nephews
So, it becomes, 25 nephews + 16 nephews + 2nephews = 8600 ; i.e. 43 nephews =8600
:. One nephew = 8600/43 = 200 :. Each daughter gets 4 × 200 = 800

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40.

The selling price of 5 articles is the same as the cost price of 3 articles. The gain or loss is 

   A.) 20% gain
   B.) 25% gain
   C.) 33.33% loss
   D.) 40% loss

Answer: Option 'D'

There is a loss. Percentage of loss = 5 – 3/5 × 100 = 40%.

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41.

A trader lists his articles at 20% above cost price and allows a discount of 10% on cash payment. Find his gain percentage 

   A.) 108%
   B.) 100%
   C.) 92%
   D.) 8%

Answer: Option 'D'

(120 × 90)/100 = Rs.108/- 
profit = 8 % profit

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42.

The actual price of an article was Rs. 5000/- the successive discount on 10% and 20% then Finds the selling price 

   A.) Rs.2600/-
   B.) Rs.3600/-
   C.) Rs.4600/-
   D.) Rs.5600/-

Answer: Option 'B'

Note:Selling price = MRP × (100 - d1)/100 × (100 - d2)/100 * ------------- 
MRP = 5000/- , d1 = 10, d2 = 20 
Selling price = 5000 × (100 - 10)/100 × (100-20)/100 => 5000 × 90/100 × 80/100 
=> 450 × 8 = Rs.3600/- 

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43.

The marked price of an article is 10% more than the cost price and a discount of 10% is given on the market price Rs.1400/-. In this kind of sales the seller: 

   A.) bears no loss and gain
   B.) gains1%
   C.) loses1%
   D.) none

Answer: Option 'C'

Note:MRP= Selling price × 100/(100-d1) × 100/(100-d2) × -------
Selling price = Rs.1400/-,  d1 = 10 ,  d2 = 20
MRP = 1440 × 100/90 × 100/80 => Rs.2000/-

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44.

A man bought articles 3 for 1 rupee how many articles sells for 1 rupees gained 50% 

   A.) 1
   B.) 2
   C.) 3
   D.) 4

Answer: Option 'B'

2

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45.

A man bought articles 5 for 1 rupee how many articles sells for 1 rupee he gained 25% 

   A.) 3
   B.) 4
   C.) 2
   D.) 1

Answer: Option 'B'

Number of articles = n × 100/(100+-p1) 
Number of articles = 5 × 100/(100+25) = 4

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46.

A, B and C are partners of a company. During a particular year A received one-third of the profit, B received one-fourth of the profit and C received the remaining Rs.5000. How much did A receive?

   A.) 5000
   B.) 4000
   C.) 3000
   D.) 1000

Answer: Option 'B'

Let ‘x’ be the total profit in that particular year.
x-(x/3 + x/4) = 5000. » x- 7x/12 = 5x/12 ; i.e. 5x /12=5000; :. x= 12000.
:. A’s amount = 12000/3 = 4000.

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47.

A book-seller bought 200 textbooks for 12000. He wanted to sell them at a profit so that he got 20 books free. At what profit per cent should he sell them? 

   A.) 10
   B.) 11 1/9 %
   C.) 11
   D.) 11.1

Answer: Option 'B'

Here, the profit = CP of 20 books out of 180 books and
now the CP of 180 books = 12000.
:. The profit percent = 20 × 100/180 = 11 1/9 %

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48.

A shopkeeper marks his sarees at 20% above the cost price and allows the purchaser a discount of 10% for cash buying. What profit per cent does he make? 

   A.) 18
   B.) 12
   C.) 10
   D.) 8

Answer: Option 'D'

Let the CP of saree = 100.; then Marked price = 120
:. SP = 120 – 10% of 120 = 120 -12 = 108. So, profit = 8
:. Profit percent = 8%.

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49.

A gold bracelet is sold for 14500 at a loss of 20%. What is the cost price of the gold bracelet? 

   A.) 18125
   B.) 17400
   C.) 15225
   D.) 16800

Answer: Option 'A'

The SP of the gold bracelet is 80% of the CP.
:. CP = 14500 × 100/80 = 18125.

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50.

Sonika spent Rs. 45760 on the interior decoration for her home, Rs.27896 on buying Air conditioner and the remaining 28% of the total amount she had as cash with her. What was the total amount? 

   A.) 98540
   B.) 102300
   C.) 134560
   D.) None of these

Answer: Option 'B'

The Total expense = 45760 + 27896 = 73656 = 72% of the Total amount.
:. Total amount = 73656 × 100/72 = 102300.

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