Profit and Loss Questions for SBI Clerk Set-2

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2002
Profit and Loss Questions for SBI Clerk Set-2
Profit and Loss Questions for SBI Clerk Set-2

Profit and Loss Questions for SBI Clerk Set-2

Download SBI Clerk Profit and Loss Questions & Answers Set-2 PDF for SBI Clerk Prelims and Mains exam. Very Important SBI Clerk Profit and Loss Questions with solutions.

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Question 1: A shopkeeper sells two watches for Rs308 each. On one he gets 12% profit and on the other 12% loss. His profit or loss in the entire transaction was

a) 1$\frac{11}{25}$% loss

b) 1$\frac{11}{25}$% gain

c) 3$\frac{2}{25}$%loss

d) 3$\frac{2}{25}$%gain

e) None of these

Question 2: A merchant bought some goods worth Rs. 6000 and sold half of them at 12% profit. At what profit per cent should he sell the remaining goods to make and overall profit of 18%?

a) 24

b) 28

c) 18

d) 20

e) 26

Question 3: The profit earned after selling an article for Rs 996 is the same as the loss incurred after selling the article for Rs 894. What is the cost price of the article ?

a) Rs 935

b) Rs 905

c) Rs 945

d) Rs 975

e) None of these

Question 4: Vandana sells an article for Rs 3,240 and earns a profit of 20%. What is the cost price of the article ?

a) Rs 2,800

b) Rs 2,820

c) Rs 2,750

d) Rs 2,700

e) None of these

Question 5: A merchant bought some goods worth Rs. 6000 and sold half of them at 12% profit. At what profit per cent should he sell the remaining goods so as to make an overall profit of 18%?

a) 24

b) 28

c) 18

d) 20

e) 26

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Question 6: A person sells half of his goods at 20% profit and remaining half at 30% profit. What is his overall gain per cent in the whole transaction ?

a) 30%

b) 25%

c) 50%

d) 35%

e) None of these

Question 7: An article when sold for 960 fetches 20% profit.What would be the percent profit /loss if such 5 article are sold for Rs. 825/-each?

a) 3.125 % profit

b) 3.125 % loss

c) Neither profit nor loss

d) 16.5 % profit

e) None of these

Instructions

In the given questions, two quantities are given, one as Quantity I and another as Quantity II. You have to determine relationship between two quantities and choose the appropriate option.

a: If quantity I ≥ quantity II
b: If quantity I > quantity II
c: If quantity I < quantity II
d: If quantity I = quantity II or the relationship cannot be established from the information that is given
e: If quantity quantity II

Question 8: What is the ratio between the marled price of two identical items, P and Q, which had been purchased at the same price ?
I. Item P was sold at a profit of 20%, while item Q was sold at a loss of 10%.
II. Item P was sold at a discount of 4%. The percentage by which Item Q’s cost price had been marked up is 2.5 times the profit % earned on selling item P.
III. The overall profit earned on selling items P and Q was 5%.

a) Only I and II

b) All I, II and III

c) Any two of the three

d) Only II and III

e) Question cannot be answered even with the information in all the three statements

Question 9: The cost price of item B is Rs. 150/- more than the cost price of item A. Item A was sold at a profit of 10% and item B was sold at a loss of 20%. If the respective ratio of selling prices of items A and B is 11 : 12, what is the cost price of item B?

a) Rs. 450/-

b) Rs. 420/-

c) Rs. 400/-

d) Rs. 350/-

e) Rs. 480/-

Question 10: Cost price of two beds are equal. One bed is sold at a profit of 25% and the other one for Rs.6,596/less than the first one. If the overall profit earned after selling both the beds is 8%, what is the cost price of each bed ?

a) Rs. 20,400

b) Rs.17,400

c) Rs. 18,600

d) Rs. 19,400

e) Rs. 16,800

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Answers & Solutions:

1) Answer (A)

Loss percent
= [$\frac{loss}{10}$]2 %
= [$\frac{12}{10}$]%
= $\frac{36}{25}$ %
= 1$\frac{11}{25}$ %

2) Answer (A)

50% of the goods are sold at 12%.

=> 0.5(x) + 0.5(12) = 0.18

=> 0.5x = 0.12

=> x = 0.24

3) Answer (C)

Let the CP be the Cost Price and SP be Selling Price.
Profit = SP – CP = 996 – CP
Loss = CP -SP = CP – 894
Now as Profit = Loss
2*CP = 1890
CP =945
Hence, the cost price is 945.

4) Answer (D)

Let the cost price of the article be C.
As the profit percentage of the article is 20%, the selling price of the article is 1.2C

But 1.2C = 3240
Hence, C = 3240/1.2 = Rs. 2700

5) Answer (A)

Total profit to be made = 18%
Profit already made = 6% (12% on half of total value means 6% on total value)
Profit remaining = 12%

Since 12% profit is to be earned on 100% of the quantity, 24% of profit is to be made on half of the qunatity.

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6) Answer (B)

Let the person has 2 goods and cost price of each good = Rs. 100

=> Total C.P. = Rs. 200

S.P. of 1st good = $\frac{120}{100} \times 100$ = Rs. 120

S.P. of 2nd good = $\frac{130}{100} \times 100$ = Rs. 130

=> Total S.P. = 120 + 130 = Rs. 250

$\therefore$ Overall profit % = $\frac{250 – 200}{200} \times 100$ = 25 %

7) Answer (A)

Let cost price of an article = $Rs.$ $100x$

If Selling price = Rs 960

=> Profit % = $\frac{960-100x}{100x} \times 100=20$

=> $960-100x=20x$

=> $20x+100x=120x=960$

=> $x=\frac{960}{120}=8$

Thus, cost price of 1 article = $100 \times 8 = Rs.$ $800$

If selling price = Rs. 825

$\therefore$ Profit % = $\frac{825-800}{800} \times 100$

= $\frac{25}{8} = 3.125\%$

=> Ans – (A)

8) Answer (A)

9) Answer (A)

CP of B = CP of A +150
SP of A = 1.10 $\times$ CP of A
SP of B = 0.8 $\times$ CP of B = 0.8 $\times$ (CP of A +150)
SP of A : SP of B = 11: 12
1.10 $\times$ CP of A : 0.8 $\times$ (CP of A +150) = 11:12
13.2 $\times$ CP of A = 8.8 $\times$ (CP of A +150)
13.2 $\times$ CP of A – 8.8 $\times$ CP of A = 1320
4.4 $\times$ CP of A = 1320
CP of A = 1320/4.4 = 300
CP of B = Rs. 450/-
Option A is the correct answer.

10) Answer (D)

Let the cost price of two beds be Rs C per each bed

Now at one bed the profit earned is 25% so its Selling Price(SP1) = 1.25 C

Another bed Selling Price is (SP2) = 1.25 C – 6596

It is given that overall profit is 8 % so,

SP1 + SP2 = 1.08(2C)

1.25C + 1.25C – 6596 = 1.08×2 C

2.5C – 2.16C = 6596

C = Rs 19400

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