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Arithmetic: Profit and Loss Test -5

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Question 1
What percent selling price would be 34% of the cost price of the product, if the gross profit is 26% of the selling price?
A
25.16%
B
74.00%
C
17.16%
D
88.40%
Question 1 Explanation: 
Let the selling price be Rs. 100, then profit = Rs. 26
Therefore Cost price = 100 - 26 = 74
Therefore the required per cent = (34% of 74)% = 25.16%
(as we assumed the selling price to be 100, the percentage
we obtain above is actually the part of the selling price equal to 34%
of the cost price of the product).
Question 2
A salesman's terms were changed from a flat commission of 5% on all his sales to a fixed salary of Rs. 1000 plus 2.5% commission on all sales exceeding Rs. 4000. If his remuneration as per the new scheme was Rs. 600 more than by the first scheme, what was the worth of his sales?
A
Rs. 11000
B
Rs. 17000
C
Rs. 16000
D
Rs.12000
Question 2 Explanation: 
Let his sales were p. Then,
1000 +2.5/100(p - 4000) = (5/100)p + 600
= 100000 + 2.5p -10000 = 5p + 60000
= 2.5p = 30000
therefore p=Rs. 12000
Question 3
A student purchased a computer system and a colour printer. If he sold the computer system at 10% loss and the colour printer at 20% gain, he would not lose anything. But if he sells the computer system at 5% gain and the colour printer at 15% loss, he would lose Rs. 800 in the bargain. How much did he pay for the colour printer?
A
Rs.  8000
B
Rs. 16000
C
Rs. 9000
D
Rs.5334
Question 3 Explanation: 
Let the cost price of colour printer and computer system be p and q respectively.
= p x 120/100 + q x 90/100 = p+q
= 0.2p = 0.1q  …………………………………………………………..1
= p x 85/100 + q x 105/100
= p + q – 800
= 0.05q = 0.15p - 800…………………………………………………2
From Eqs. (1) and (2),
p =Rs. 16000
Question 4
Vinita bought a watch with 24% discount on the selling price. If the watch cost her Rs. 779, what is the original selling price of the watch?
A
Rs. 1000
B
Rs. 950
C
Rs. 1025
D
Cannot be determined
Question 4 Explanation: 
Let the original selling price be Rs. p.
= p x 76/100 =779
Therefore x = 77900/76 =Rs. 1025
Question 5
A man sells a book at a profit of 20%. If he had bought it at 20% less and sold it for Rs. 18 less, he would have gained 25%. The cost price of the book is
A
Rs. 80
B
Rs. 70
C
Rs. 60
D
Rs.  90
Question 5 Explanation: 
Let the cost price of book be Rs. p
Then, (1.2p -18) - 0.8p = 0.25 x 0.8p
0.4p -18 = 0.20p
p=18/0.20
p =Rs. 90
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Table of Contents: Profit and Loss Complete Lesson




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