A man mixes two litres of cold-drink to six litres of Rum and sells the mixture at the cost price of Pure Rum. If he earns a profit of 14.28% on selling eight litres, then find the price of one litres of cold-drink, given that the price of one litre of pure Rum is Rs 10.
Answer: D As the cost price of one litre of pure rum = Rs 10. Cost price of 6 litre = Rs 60. Selling price of 8 litres = Rs 80. Let the cost of one litre of cold drink be Rs a. Selling price = {Cost price (100 + Profit percentage)}/100 => 80 = {(60+2a)(114.28)}/100 => 80 = {800(60+2a)}/(7*100) (As, 114.28 = 800/7) => a = Rs 5.
Q. No. 2:
The marked price of an article is 50% above the cost price. When the marked price is increased by 20% and the selling price is increased by 20%, the profit doubles. Find the original selling price, if the original marked price is Rs 300.
Answer: B As the original marked price is Rs 300, cost price = Rs 200. Let the profit be Rs r. Original selling price = Rs 200+r. Also new selling price = Rs 200 +2r Given, (200+r)(1.2) =(200+2r) => r =50. Original selling price = Rs 250.
Q. No. 3:
In a partnership, Abhishek invested Rs 3,00,000 and Prashant invested Rs 5,00,000. Abhishek was the working partner and received Rs 42,000 out of the total profit of Rs7,20,000 as his salary. If Abhishek received some percentage of the profit as salary, then find the salary as a percentage of the profit, given that the remaining profit is distributed between Abhishek and Prashant according to their capitals.
Answer: C As, Abhishek is a working partner, It received some salary. Let the salary be x. Therefore, x+ (72,000 -x)*3/8 = 42,000 => x= 24,000. The salary as the percentage of profit = 24000/72000 = 1/3 = 33.33%.
Q. No. 4:
A person offers a cash discount of 20% and still makes a profit of 20%, even when he further allows 16 articles to a dozen to a particularly sticky beginner. How much % above the cost price were his wares listed?
Answer: A We know that profit % = 20% So, SP = 1.2 CP This profit is made after the loss that he has incurred by selling 16 articles at the price of 12. This loss would be (16-12)/12 = 25%. So his actual SP*0.75 = 1.2CP So his actual SP = 1.6 CP Also his actual SP = 0.8 MP => 0.8 MP = 1.6 CP or MP = 2CP This means that he had marked his good 100% above his CP.
Q. No. 5:
The fruit seller sells 3/5th of fruits at a profit of 10% and remaining at a loss of 5%. If the total profit is Rs 1500, then what is the total cost price of fruits?
Answer: C Let 'X' be the cost price [(3/5 * X* 10/100) - (2/5 * X * 5/100)] = 1500 => X = Rs 37500
Q. No. 6:
The CP of an item increases by 10% first, then 10% next and by 10% yet again finally the last 10% increases is equivalent to an increase of Rs 121, what was the first 10% equivalent to?
Answer: A If CP is initially A, then the value after increases are 1.1A, 1.21A and 1.331 A Since, 0.121 A = Rs 121 then A = Rs 1000 So 0.1 A is equivalent to Rs 100.