Question 1
Gangaram Sait bought three DVD players for Rs.1000 each. He wanted to make a profit of 20% by selling these and accordingly marked the selling price. He was forced to sell the first two DVD players with a discount of 5% for cash. Now he wanted to see that he makes over- all profit of 20% by selling of these three DVD players. Hence for ensuring this by what percentage over the cost price should he sell the third DVD player?
a) 32% b) 28% c) 42% d) 48%
Answer : a) 32%
Solution :
Cost price of the DVD players = Rs.1000 each
Selling price marked by him to achieve 20% profit = 120/100 x 1000 = Rs. 1200 each
The first two DVD players he sold at a discount of 5% on S.P.
Without discount the SP of Two DVD players should had been = Rs. 1200 x 2 = Rs.2400
But since he discounts 5% from SP, he sold them at 2400 x 95/100 = Rs.2280
Since he wanted to make overall gain of 20% on the sale of the three DVD players he should sell them at 3000 x 120/100 = Rs.3600
Since he has already sold 2 DVD players for Rs. 2280, he must sell the third DVD player for 3600 - 2280 = Rs.1320
Profit Percentage on Third DVD Player = SP - CP / CP X 100% = 1320 - 1000 / 1000 X 100% = 32%
Question 2
Miserlal and Company dealing in computers and laptop marked up its laptop selling prices by 40% over its cost.(for 12 laptops) In order to attract more youngsters they offered a discount of 30% over the selling price of these laptops. They advertised in the leading English dailies and vernacular dailies besides using Television media. The company sold 8 laptops on these terms. The company sold the remaining four laptops at a discount of 20% over the selling price. What is resultant profit or loss percentage made in the sale of these 12 laptops by Miserlal and Company.
a) Loss of 2 2/3% b) profit of 2 2/3 % c) Loss of 4 1/3% d) profit of 4 1/3%
Answer : b) profit of 2 2/3%
Solution :
Let the cost of price of these 12 laptops be Rs.100 each
Then Selling price of these 12 laptops at 40% profit will be 140/100 x 100 = Rs.140 each
Eight laptops are sold at a discount of 30% on S.P
Then each of these 8 laptops is sold at 140 x 70/100 = Rs.98
Therefore, Total SP of Eight laptops = 98 x 8 = Rs.784 ...(1)
Four laptops are sold at discount of 20% over S.P.
Each such laptop is sold at 140 x 80/100 = Rs.112
Therefore, Total SP of these four laptops = 112 x 4 = Rs. 448 ...(2)
Totally 12 laptops are sold at Rs.784 + Rs. 448 = Rs.1232 (we get this by adding values from (1) and (2))
CP of 12 laptops = 12 x 100 = Rs. 1200
Therefore profit percentage = SP - CP / CP x 100% = 1232 - 1200 / 1200 x 100% = (32/1200) x 100% = 2 2/3% profit
Question 3
Vivek and Sons are leading sellers of luxury goods like Air conditioners, refrigerators, colour televisions, washing machines etc. They bought twenty branded refrigerators at Rs. 9600 each. They marked the selling price adding 25% over the purchase price. The company wanted to make 20% profit by the sale of these twenty refrigerators. A group of software programmers from Sugarwell Info Systems, Chennai approached them for buying refrigerators and in order to get new clientele they offered 10% discount on the selling price and sold 12 refrigerators. What is the percentage of profit they should add over the selling price already marked while selling the other 8 refrigerators in order to ensure that they make a profit of 20% over cost price in the sale of twenty refrigerators?
a) 5% b) 6% c) 7% d) none of these.
Answer : a) 5%
Solution :
Cost price of twenty refrigerators = Rs. 9600 x 20 = Rs.192000
Selling price marked on each of these 20 refrigerators at 25% over cost price = 125/100 x 9600 = Rs.12000
12 Refrigerators were sold with a discount of 10% over selling price i.e they are sold at 90/100 x 12000 = Rs.10800 each
Amount received on sale of 12 refrigerators - Rs.10800 x 12 = Rs.129600
Vivek and Company wants to make an over all profit of 20%
On Rs. 192000 and hence they should receive totally 120/100 x 192000 = Rs.230400
Balance amount to be received by selling 8 refrigerators to make a profit of 20% = Rs.230400 - 129600 = Rs.100800
Price at which these 8 refrigerators to be sold = Rs.100800 / 8 = Rs.12600
Earlier planned selling price = Rs.12000
To sell each of the 8 refrigerators at Rs. 12600 each instead of the planned Rs. 12000 each, the price has to be marked up by Rs.600 which means 600/12000 x 100 =5% over planned SP.