Profit & Loss — Set #2 | Practice

{"setId":"c362c92c-6bd8-4e03-9826-11be278c1330","setTitle":"Profit and Loss 2 – UPSC CSAT","topicName":"Profit & Loss","topicSlug":"profit-loss","setNumber":2,"totalQuestions":10,"questions":[{"id":"4be4cd15-4008-4234-98a5-ddfa9a9a2ec2","order":1,"statement":"The difference between a discount of 29% and two successive discounts of 20% and 10% on a certain bill was ₹17. Find the amount of the bill.","options":{"A":"₹ 2,200","B":"₹ 1,700","C":"₹ 1,300","D":"None of these"},"correctOption":"B","solution":"Net successive discount = (20+10-(20×10)/100)% = (30-2)% = 28%. Difference between single discount (29%) and successive discount (28%) = 1% of bill = ₹17. So bill amount = 17×100 = ₹1,700."},{"id":"c40a68c7-2bbc-4c04-bf71-1ad3b8bc5870","order":2,"statement":"Anuj buys 50 toffees at the rate of Re. 1 for 10 toffees and 100 toffees at the rate of Re. 1 for 5 toffees. He mixes them together and sells all of these at the rate of Re. 1 for 4 toffees. Find his profit percentage.","options":{"A":"70%","B":"33.33%","C":"50%","D":"44%"},"correctOption":"C","solution":"Cost of 50 toffees at 10/Re.1 = Rs.5. Cost of 100 toffees at 5/Re.1 = Rs.20. Total cost = Rs.25 for 150 toffees. Selling price at 4/Re.1 = 150/4 = Rs.37.5. Profit = 37.5-25=Rs.12.5. Profit% = (12.5/25)×100 = 50%."},{"id":"c71127d9-2544-4404-ae70-222238a4b098","order":3,"statement":"The successive discounts of 10%, 15% and 10% are equal to a single discount of a percentage","options":{"A":"31.15%","B":"32%","C":"30%","D":"35%"},"correctOption":"A","solution":"Let market price = 100x. Selling price = (90/100)×(85/100)×(90/100)×100x = 68.85x. Single discount percentage = [(100x-68.85x)/100x]×100 = 31.15%."},{"id":"d4303be8-dffb-495f-bd76-19ec6994ddd2","order":4,"statement":"After getting 2 successive discounts, a book with a list price of ₹200 is available at ₹150. If the second discount is 10%, find the first discount percentage?","options":{"A":"16.66%","B":"19%","C":"15%","D":"22.5%"},"correctOption":"A","solution":"Let first discount = x%. Given (90/100)×[(100-x)/100]×200=150. Simplifying: 9(100-x)=750, giving 900-9x=750, so 9x=150, x=16.66%."},{"id":"1724e56a-e42d-40ad-91d0-b66dde5236ce","order":5,"statement":"A trader earns a profit of 36% after allowing two successive discounts of 15% and 20% on the marked price of a product. If the trader instead allows two successive discounts of 25% and 30%, what will be the new profit percentage?","options":{"A":"15%","B":"10%","C":"5%","D":"20%"},"correctOption":"C","solution":"Assume cost price=Rs.100. Selling price with 36% profit=Rs.136. Let marked price=x. Given x×0.85×0.8=136, so 0.68x=136, giving x=200. With new discounts of 25% and 30%: selling price=200×0.75×0.7=Rs.105. Profit=105-100=Rs.5. Profit%=(5/100)×100=5%."},{"id":"0ec5c557-a603-4257-a25e-e2fc70a12096","order":6,"statement":"A shopkeeper offers his customers 10% discount and still makes a profit of 20%. What is the actual cost to him of an article marked for ₹280?","options":{"A":"₹ 210","B":"₹ 185","C":"₹ 200","D":"₹ 225"},"correctOption":"A","solution":"Discount = (280×10)/100=₹28. Selling price = 280-28=₹252. Since profit is 20%, Cost price = (100/120)×252 = ₹210."},{"id":"e6667eb4-66a1-4dc3-ac06-6d0e32c123ad","order":7,"statement":"Shivank purchased four old cars for a total of ₹1 lakh. He spent a total ₹2 lakh on their maintenance and repairing. What is the average selling price of the other three cars to get overall profit of 50% if he has already sold one of the four cars at ₹1.5 lakh?","options":{"A":"₹2 lakh","B":"₹1 lakh","C":"₹1.5 lakh","D":"₹1.8 lakh"},"correctOption":"B","solution":"Total cost of 4 cars = 1+2 = ₹3 lakh. For 50% profit, total selling price needed = 3×1.5 = ₹4.5 lakh. One car already sold for ₹1.5 lakh, so remaining 3 cars need to fetch ₹4.5-1.5=₹3 lakh combined. Average selling price of remaining 3 cars = 3/3 = ₹1 lakh."},{"id":"d3f45c26-eca2-4c45-bc5a-53a8b08b2493","order":8,"statement":"If the manufacturer gains 10%, the wholesale dealer gains 20% and the retailer gains 15%, then find the cost of production of an article, the retail price of which is ₹1,518?","options":{"A":"₹ 900","B":"₹ 600","C":"₹ 700","D":"₹ 1,000"},"correctOption":"D","solution":"Let cost of production = x. Given 115% of 120% of 110% of x = 1518, so (115/100)×(120/100)×(110/100)×x=1518. Simplifying: (23/20)×(6/5)×(11/10)×x=1518, giving x=1518×(20/23)×(5/6)×(10/11)=1,000."},{"id":"e35ede15-2ead-458e-a967-0a7cbfda13ef","order":9,"statement":"A shopkeeper buys 40 dozen eggs at the rate of ₹4 per dozen. Out of them, 30 eggs were broken. At what rate should he sell the remaining eggs per dozen so as to gain 5% on the whole?","options":{"A":"₹ 4.48","B":"₹ 4","C":"₹ 5.25","D":"₹ 5.48"},"correctOption":"A","solution":"Total cost = 40×4=₹160. Remaining eggs = 480-30=450. Let selling price per dozen = x. Total selling price of 450 eggs = (450x/12). Given this equals 105% of 160: (450x/12)=(105/100)×160. Solving: x = (105/100)×160×(12/450) ≈ ₹4.48."},{"id":"6da87e82-6da3-40f1-8659-90779954ee20","order":10,"statement":"If shopkeeper sales a TV with successive discount of 30% and 20%, then calculate percentage overall discount at which he sells TV to customer?","options":{"A":"56%","B":"50%","C":"44%","D":"52%"},"correctOption":"C","solution":"Assume MRP=Rs.100. After 30% discount: SP=Rs.70. After 20% discount on 70: discount=(20/100)×70=14, so final SP=70-14=Rs.56. Overall discount = [(100-56)/100]×100 = 44%."}]}