RRB NTPC - Profit and Loss

1.

A shopkeeper sold sarees at Rs.266 each after giving 5% discount on labeled price. Had he not given the discount, he would have earned a profit of 12% on the cost price. What was the cost price of each saree?

   A.) Rs.280
   B.) Rs.250
   C.) Rs.260
   D.) Rs.240

Answer: Option 'B'

95% of the labeled price = Rs. 266; :. Labelled Price = 266 × 100/95 = Rs.280
i.e. 112% of CP = Rs.280; So, the cost price = 280 × 100/112 = Rs.250.

2.

Anuradha sold 2 books at 1.40 each. Her profit on one was 20% and her loss on the other was 20%. Then, she

   A.) Made no loss no gain
   B.) Gained 20-paise
   C.) Lost 12-paise
   D.) Lost 20-paise

Answer: Option 'C'

If there is a profit of x% and a loss of y%, 
then the resultant profit or loss = x-y – x y/100%
So, the resultant profit or loss = 20 – 20 - 20×20/100 = -4%. ( ‘-‘ means loss)
Total SP = 2.80, which equals to 96% of CP of 2 books.
.: CP of 2 books = 2.80 × 100/96 = 2.92; :. Loss = 2.92 – 2.80 = .12 = 12paise.

3.

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.

4.

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 %

5.

What would be the cost of building a fence around a cicular plot of area 98.56 sq.ft., if the cost of fencing per foot is Rs.614? 

   A.) Rs.60515.84
   B.) Rs.30257.92
   C.) Rs.21612.80
   D.) Rs.43324.60

Answer: Option 'C'

Area = 98.56 sq.ft
:. r² = 98.56 x 7/22 = 31.36
:. r = 5.6 ft.
Circumference = 2 x 22 x 5.6/7 = 35.2 ft.
Cost of fencing = 35.2 x 614 = Rs.21612.80.

6.

A trader’s marked price is 30% above the cost price. He allows his customers 10% discount on the marked price. What profit does he make? 

   A.) 17%
   B.) 18%
   C.) 16%
   D.) 19%

Answer: Option 'A'

Let the cost price be Rs.100. Then the marked price = Rs.130.
So, the Selling price = Rs. 130 – 10% of 130 = Rs.117
:. The profit = 117 – 100 = Rs.17 and the profit percent = 17%.

7.

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%.

8.

In a sale a discount of 15% was available on all the articles. If Vinit purchased an article for Rs.4284 in the sale, what was the actual selling price of the article? 

   A.) Rs.5050
   B.) Rs.5000
   C.) Rs.5140
   D.) Rs.5040

Answer: Option 'D'

Vinit’s purchase price = 85% of Actual SP
:. Actual SP = 4284x100/85 = Rs.5040.

9.

A person sells an item to another person at a profit of 40% and the second person sells it to a third person at a loss of 15%. What is the resultant profit or loss? 

   A.) 25%
   B.) 20%
   C.) 17.5%
   D.) 19%

Answer: Option 'D'

Let the CP of the item = Rs.100.
1st person’s SP = Rs.140
2nd person’s SP = Rs.140 – 21 = Rs.119.
Resultant profit = Rs.119 – 100 = Rs.19.
Resultant profit percent = 19 x 100/100 = 19%.

10.

A gold bracelet is sold for Rs.13425 at a loss of 25%. What is the cost price of the bracelet? 

   A.) Rs.15900
   B.) Rs.17900
   C.) Rs.18000
   D.) Rs.16800

Answer: Option 'B'

SP i.e. Rs.13425 is 75% of CP
:. CP = 13425 x 100/75 = Rs.17900/-

11.

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.

12.

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.

13.

If cost price is 80, overhead is 20 and selling price is 120, then the profit per cent is 

   A.) 20%
   B.) 50%
   C.) 40%
   D.) 30%

Answer: Option 'A'

The CP = 80 + 20 = 100.
The SP = 120; and the profit = 120 – 100 = 20 i.e. = 20%

14.

A man is paid 20 for each day he works and forfeits 3 for each day he is idle. At the end of 60 days he gets 280. Then, he was idle for 

   A.) 20 days
   B.) 25 days
   C.) 30 days
   D.) 40 days

Answer: Option 'D'

Let the man is idle for x days
Then, 20 (60-x) – 3x = 280
1200 – 23x = 280; then x =920/23 = 40
:. The man is idle for 40days.

15.

The marked price of an article is 200. A discount of 12 ½% is allowed on the marked price and a profit of 25% is made. The cost price of the article is 

   A.) 200
   B.) 175
   C.) 120
   D.) 140

Answer: Option 'D'

The SP = 200 – 12 ½% of 200 = 175 = 125% of the CP;
:. CP = 175 ×100/125 = 140

16.

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/-

17.

The price of 28 chairs is equal to that of 6 tables. The price of 18 chairs and 3 tables together is Rs.4800. The total price of 15 chairs and 6 tables is 

   A.) Rs.7450
   B.) Rs.6850
   C.) Rs.6450
   D.) Rs.1940

Answer: Option 'C'

Let ‘x’ be the cost of a chair and ‘y’ be the cost of a table
Then, 28x = 6y; and 18x + 3y = 4800; y= 28x/6
18x + 3×28x/6 = 4800; i.e. 32x = 4800 and so, x = the cost of one chair = Rs.150 and the cost of one
table = y =Rs.700.
:. The total price 15 chairs and 6 tables = 15 × 150 + 6 × 700 = Rs. 6450.

18.

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

19.

By selling a table for 350 instead of 400, loss per cent increase by 5%. The cost price of the table is

   A.) 1050
   B.) 417.50
   C.) 435
   D.) 1000

Answer: Option 'D'

The difference in prices = 400 – 350 = 50, which equal to 5% of the cost,
:. The cost price = 50 × 100/5 = 1000.

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

20.

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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