Model AFCAT paper - 2014

AFCAT REVISION TEST MATHS

Profit and Loss

1.               Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

2.  The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

3.               If selling price is doubled, the profit triples. Find the profit percent.

4.	In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

7. A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?
8. A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?

9.	Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit? 10. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:

Answers:

1.Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.

Selling Price (S.P.) = Rs. 5800.

Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.

Gain % =		300	x 100	%	= 5	5	%
		5500				11
Answer 2. Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x. S.P. of x articles = Rs. 20. Profit = Rs. (20 - x). 20 - x x 100 = 25 x  2000 - 100x = 25x 125x = 2000      x = 16. Answer 3:

If selling price is doubled, the profit triples. Find the profit percent.

Let C.P. be Rs. x and S.P. be Rs. y.

Then, 3(y - x) = (2y - x)    y = 2x.

Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.

Profit % =		x	x 100	% = 100%
		x
4.In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit? Explanation: Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420. New C.P. = 125% of Rs. 100 = Rs. 125 New S.P. = Rs. 420. Profit = Rs. (420 - 125) = Rs. 295.  Required percentage = 295 x 100 % = 1475 % = 70% (approximately). 420 21

Q 5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

Explanation:

C.P. of 6 toffees = Re. 1

S.P. of 6 toffees = 120% of Re. 1 = Rs.	6
	5

For Rs.	6	, toffees sold = 6.
	5

For Re. 1, toffees sold =		6 x	5		= 5.
			6

Q.6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

Explanation:

Let C.P. be Rs. x.

Then,	1920 - x	x 100 =	x - 1280	x 100
	x		x

 1920 - x = x - 1280

 2x = 3200

 x = 1600

Required S.P. = 125% of Rs. 1600 = Rs.		125	x 1600		= Rs 2000.
		100

Q.7.
A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

Explanation:

C.P. = Rs.		100	x 392		= Rs.		1000	x 392		= Rs. 320
		122.5					1225

 Profit = Rs. (392 - 320) = Rs. 72.

Q.8.
A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?

S.P. = 85% of Rs. 1400 = Rs.85x 1400= Rs. 1190100

9.	Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?

Explanation:

Cost Price of 1 toy = Rs.		375		= Rs. 31.25
		12

Selling Price of 1 toy = Rs. 33

So, Gain = Rs. (33 - 31.25) = Rs. 1.75

Profit % =		1.75	x 100	%	=	28	% = 5.6%
		31.25				5

10. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:

Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.

C.P. of 30 articles = Rs.		5	x 30		= Rs. 25.
		6

S.P. of 30 articles = Rs.		6	x 30		= Rs. 36.
		5

Gain % =		11	x 100	% = 44%.
		25