Attempt this Profit and Loss Question

Question of The Day08-03-2021

The cost price of 25 pens is equal to the marked price of 15 pens. If a discount of 1% is allowed, then what will be the overall profit% on the transaction?

Answer

Correct Answer : d ) 65%

Explanation :

Let the cost price and marked price of 1 pen be CP and MP respectively

According to the question,

25 CP = 15 MP

⇒\({MP \over CP}={25 \over 15}=53….. 1\)

When profit and discount are given on a product, then the direct relationship between Marked price (MP) and Cost price (CP) is given as

\({MP \over CP}=({{100 \pm Profit/loss\%} \over {100-Discount\%}})\)

From equation (1)

\({5 \over 3}=({{100 \ \pm \ Profit/loss \ \%} \over {100-1}})\)

⇒\({5 \over 3}=({{100 \ \pm \ Profit/loss \ \%} \over {99}})\)

⇒ 100 ± Profit/loss% = 165

⇒ Profit% = 65%

Hence, (d) is the correct answer.

Such type of question is asked in various government exams like SSC CGL, SSC MTS, SSC CPO, SSC CHSL, RRB JE, RRB NTPC, RRB GROUP D, RRB OFFICER SCALE-I, IBPS PO, IBPS SO, RRB Office Assistant, IBPS Clerk, RBI Assistant, IBPS RRB OFFICER SCALE 2&3, UPSC CDS, UPSC NDA etc.

Read Daily Current Affairs, Banking Awareness, Hindi Current Affairs, Word of the Day, and attempt free mock tests at PendulumEdu and boost your preparation for the actual exam.