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Arithmetic : Level 1 Test -7

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Question 1
Richa wanted to sell her two chairs that cost her a total of Rs. 545. She sold both the chairs. On selling one chair, she got 15% profit but she also generated a loss 12% on the other one. She did not get any profit and any loss in the whole transaction so .What is the cost price of the chair that she sold for a profit?
Rs. 239.56
Rs. 237.65
Rs. 245.23
Question 1 Explanation: 
Let the cost price of chair with profit = P
So the cost price of the second chair will be = 545 – P
Because there is no profit no loss in the whole transaction
115P/100 + (545 – P)88/100 = 545
115 P + 47960 – 88 P = 54500
27P = 6540
By solving it for P
The cost price of chair = Rs. 242.222
Hence option D is the right answer
Question 2
Meera invested some money in Local Community and obtained a profit of 6%. She again invested her money but this time she generated a loss of 9% on this transaction. If the investment of money was in the ratio of 2:3, then what is the loss percentage in the whole transaction?
Question 2 Explanation: 
Let the money is invested is 2Y and 3Y
So the total money invested = 5Y
Now money obtained A
A=(2Y x 106/100) + ( 3Y x 91/100)
A= 97Y/20
Now the loss will be
Loss=5Y – 97Y/20
So the loss percentage will be
[{(3Y/20) / 5Y} x 100]%
Loss % = 3%
So option A is the right answer
Question 3
Meera invested some money in three different schemes for 2 years, 4 years, and 6 years at different rate of interests i.e. 5% , 10%, 15%. At the completion of the each scheme Meera get equal money. Then what could be the ratio of investment for 2, 4, 6 years respectively?
 9: 4: 36
4: 9: 36
3:4: 36
36: 9: 4
Question 3 Explanation: 
Let P: Q: R be the ratio of investment
Simple interest on P = Simple interest on Q = Simple interest of R
So P x 2 x 5/100 = Q x 4 x 10/100 = R x 6 x 15/100
P/10= 2Q/5 = 9R/10
So the ratio will be
P:Q:R = 36:9:4
Question 4
Natasha sold her laptop by giving 12 % discount and she still gains a profit of 15%.  So how much percentage above the cost price does she marked on her laptop.
None of these
Question 4 Explanation: 
Let the cost price of the laptop be Rs. 10000
If Natasha gained 15% profit then the selling price is Rs. 11500
Discount = 12% on marked price
Let the marked price is P
Then P x 88/100 = 11500
P = Rs. 13068.18
This is 30.68% more on cost price
Question 5
Meera went to a Laptop shop. The cash price of laptop was Rs. 24945. She paid Rs. 3945 and gave the rest of money in two equal annual instalments. If the rate of interest is 5% compounded annually then what was the value of each installment?
Rs. 11293.90
Rs. 11298.90
Rs. 11500
Rs. 10500
Question 5 Explanation: 
Cash price of the laptop = Rs. 24945
Amount paid by Meera = Rs. 3945
Amount left = Rs. 21000
Now let the value of instalment is P
So the amount paid is
{P/(1+R/100)2} + {P/(1+R/100)1} = 21000
Where P is the value of first installment
And R = 5%
By solving this
{P/(1+5/100)2} + {P/(1+R/100)1}= 21000
P = (21000 x 441)/820
P = 11293.90
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