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## Arithmetic: Profit and Loss Test -1

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Question 1 |

Tarun got 30% concession on the labelled article and sold it at Rs.8750 with a 25% profit over the price he bought it for. What was the labelled price, p?

Rs. 16000 | |

Rs. 12000 | |

Rs. 10000 | |

Rs. 14000 |

Question 1 Explanation:

Price at which Tarum brought the article= 70% of MP = 70% of p = X

SP of Tarun = Rs. 8750

Profit = 25%

Price at which he bought the article = X

Now it is given that 1.25 X = Rs. 8750

Therefore, X = Rs. 7000

Also, 70% of p = X = 7000

Thus, p = Rs. 10000

SP of Tarun = Rs. 8750

Profit = 25%

Price at which he bought the article = X

Now it is given that 1.25 X = Rs. 8750

Therefore, X = Rs. 7000

Also, 70% of p = X = 7000

Thus, p = Rs. 10000

Question 2 |

The retail price of a water geyser is Rs. 1265. The manufacturer gains 10%, the wholesale dealer 15% and the retailer gains 25%, then the cost of the product is

Rs. 800 | |

Rs. 900 | |

Rs. 700 | |

Rs. 600 |

Question 2 Explanation:

Let the cost of the product be Rs. p.

Then, = p x 110/100 x 115p/100 x 125p/100= 1265

= p= 1265 x 100/110 x 100/115 x 100/125=Rs. 800

Then, = p x 110/100 x 115p/100 x 125p/100= 1265

= p= 1265 x 100/110 x 100/115 x 100/125=Rs. 800

Question 3 |

A machine is sold at a profit of 10%. Had it been sold for Rs. 40 less, there would have been a loss 10%. What is the cost price?

Rs. 175 | |

Rs. 200 | |

Rs. 225 | |

None of these |

Question 3 Explanation:

Let the cost price of the machine be Rs. p. Then,

According to the question

{(p x 110/100) – 40 } = 90p/100

11p/10 – 90P/100 = 40

(110 p – 90p)/100 = 40

20p/100 = 40

2p = 400

p = 200

According to the question

{(p x 110/100) – 40 } = 90p/100

11p/10 – 90P/100 = 40

(110 p – 90p)/100 = 40

20p/100 = 40

2p = 400

p = 200

Question 4 |

What is the per cent profit if 34% of the cost price is 26% of the selling price?

30.77% | |

74%. | |

25.16% | |

88.40% |

Question 4 Explanation:

Let cost price be c.

Let the profit be p.

Thus the selling price = c + p

We are given now:

34c/100 = (c+p) x 26/100

34c = 26c + 26p

p = 4/13 c

Thus, p is 30.77% of c

Let the profit be p.

Thus the selling price = c + p

We are given now:

34c/100 = (c+p) x 26/100

34c = 26c + 26p

p = 4/13 c

Thus, p is 30.77% of c

Question 5 |

The tax on a commodity is reduced by 10%, so consumption increases by 10%. The effect on revenue derived from it is K% change. Find the value of K.

1 | |

2 | |

-1 | |

-2 |

Question 5 Explanation:

When there is decrease and increase in percentage then the total percentage change = –p + q – pq/100

= -10 +10 – 100/100 = -1%

= -10 +10 – 100/100 = -1%

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