Quantitative Aptitude- Bank Exam Profit and Loss

1. Ramesh buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, what is his gain percent?.
A. 12%      B. 10% C. 447%      D. 5511%
Answer : Option D Explanation : Cost Price (C.P) = 4700 + 800 = Rs. 5500. Selling Price (S.P) = Rs. 5800. profit = (S.P) - (C.P) = 5800 - 5500= Rs. 300. profit % = profit/c.p*100% =300/5500*100=5*5/11%    2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find out the value of x  A.18         B.15        C.12        D.16 Answer : Option D Explanation :If cost price of  M articles is equal to selling price of N articles then profit % = (M-N)/N*100%            25/100  =(20-x)/x           ⇒(20−x)x=1/4           ⇒80−4x=x           ⇒5x=80⇒x=805=16  3. In a shop, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, find out approximately what percentage of the selling price is the profit?  A. 250%    B. 100%     C. 70%    D. 30% Answer : Option C Explanation :LET C.P = 100;THEN,profit = 320,S.P = 420      If the cost increases by 25%    LET C.P = 125;THEN,profit =295,S.P = 420        required % = 420 * x % = 295 ; then x = 70%           4. A vendor bought bananas at30 for a rupee. How many for a rupee must he sell to gain 20%?         A.24        B.25         C.28    D.30 Answer : Option B Explanation :To gain 20% number of bananas to be sold                      = 30 * 100 = 25                             120 5.An exporter expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit? A.82           B.90         C.69      D.72  Answer Option D   :                 Explanation : SP = 392                               C.P=100×SP   =   100×392   =    320                                      122.5              122.5             profit = 392 - 320 = 72	0