Aptitude Logical Reasoning Profit and Loss 2020 GMAT Part 8

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1. The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs. 3. The ratio of the two selling prices is:

A. 51:52

B. 52:53

C. 51:53

D. 52:55

Answer: B

2. A person purchases 90 clocks and sells 40 clocks at a gain of 10% and 50 clocks at a gain of 20%. If he sold all of them at a uniform profit of 15%, then he would have got Rs. 40 less. The cost price of each clock is:

A. Rs.50

B. Rs.60

C. Rs.80

D. Rs.90

Answer: C

3. Albert buys 4 horses and 9 cows for Rs. 13,400. If he sells the horses at 10% profit and the cows at 20% profit, then he earns a total profit of Rs. 1880. The cost of a horse is:

A. Rs. 1000

B. Rs. 2000

C. Rs. 2500

D. Rs. 3000

Answer: B

4. The price of a VCR is marked at Rs. 12,000. If successive discounts of 15%, 10% and 5% be allowed, then at what price does a customer buy it?

A. Rs. 8400

B. Rs. 8721

C. Rs. 8856

D. None of these

Answer: B

5. By selling an umbrella for Rs. 300, a shop keeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% on the marked price. His gain percent during the sale is:

A. 7

B. 7.5

C. 8

D. 9

Answer: C

6. The cost price of an article is 64% of the marked price. Calculate the gain percent after allowing a discount of 12%?

A. 37.5%

B. 48%

C. 50.5%

D. 52%

Answer: A

7. A shopkeeper sold an article offering a discount of 5% and earned a profit of 23.5%. What would have been the percentage of profit earned if no discount was offered?

A. 24.5

B. 28.5

C. 30

D. Data inadequate

E. None of these

Answer: C

8. A man buys 10 articles for Rs. 8 and Sells them at the rate of Rs. 1.25 per article. His gain is:

A. 20%

B. 50%



Answer: D

9. There would be 10% loss if a toy is said at Rs. 10.80 per piece. At what price should it be sold to earn a profit of 20%?

A. Rs. 12

B. Rs. 12.96

C. Rs. 14.40

D. None of these

Answer: C

10. There would be 10% loss if rice is sold at Rs. 5.40 per kg. At what price per kg should it be sold to earn a profit of 20%

A. Rs. 6

B. Rs. 6.48

C. Rs. 7.02

D. Rs. 7.20

Answer: D

11. A man sells 320 mangoes at the cost of 400 mangoes. His gain percent is:

A. 10%

B. 15%

C. 20%

D. 25%

Answer: D

12. If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425. What is the greatest possible profit that might be made in selling 8 books?

A. Rs. 400

B. Rs. 1800

C. Cannot be determined

D. None of these

Answer: B

13. If I purchased 11 books for Rs. 10 and sold all at the rate of 10 books for Rs. 11, the profit percent

A. 10%

B. 11%

C. 21%

D. 100%

Answer: C

14. A man purchased a watch for Rs. 400 and sold it at a gain of 20% of the selling price. The selling price of the watch is:

A. Rs. 300

B. Rs. 320

C. Rs. 440

D. Rs. 500

Answer: D

15. The C.P of an article is 40% of the S.P. The percent that the S.P is of C.P is:

A. 40

B. 60

C. 240

D. 250

Answer: D

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