Successive Selling MCQ Quiz - Objective Question with Answer for Successive Selling - Download Free PDF

Given:

Selling Price (SP) = ₹66,411

Loss Percentage = 6%

Desired Profit Percentage = 6%

Formula Used:

Cost Price (CP) = SP × 100 / (100 - Loss Percentage)

Selling Price for Profit = CP × (100 + Profit Percentage) / 100

Calculation:

CP = 66411 × 100 / (100 - 6)

CP = 66411 × 100 / 94

CP = 6641100 / 94

CP = ₹70,650

Selling Price for Profit = 70650 × (100 + 6) / 100

Selling Price for Profit = 70650 × 106 / 100

Selling Price for Profit = 70650 × 1.06

Selling Price for Profit = ₹74,889

∴ Sekhar should sell his motorcycle for ₹74,889 to get a profit of 6%.

Given:

Cost Price for Nivin (CP_Nivin) = ₹500

Profit percentage for Nivin = 10%

Loss percentage for Shinoy = 20%

Loss percentage for Jenu = 10%

Formula Used:

Selling Price (SP) = CP × (1 + Profit%/100)

Selling Price (SP) = CP × (1 - Loss%/100)

Calculation:

Selling Price for Nivin (SP_Nivin) = 500 × (1 + 10/100)

⇒ SP_Nivin = 500 × (1 + 0.1)

⇒ SP_Nivin = 500 × 1.1 = ₹550

Cost Price for Shinoy (CP_Shinoy) = SP_Nivin = ₹550

Selling Price for Shinoy (SP_Shinoy) = 550 × (1 - 20/100)

⇒ SP_Shinoy = 550 × (1 - 0.2) = 550 × 0.8 = ₹440

Cost Price for Jenu (CP_Jenu) = SP_Shinoy = ₹440

Selling Price for Jenu (SP_Jenu) = 440 × (1 - 10/100)

⇒ SP_Jenu = 440 × (1 - 0.1) = 440 × 0.9 = ₹396

Cost Price for Jeevan = SP_Jenu = ₹396

∴ Jeevan paid ₹396 for the watch.

Given:

When the item is sold at Rs. 1400, profit percent is 40%.

Let the cost price be C.

Formula used:

Profit = Selling Price - Cost Price

Profit percent = (Profit / Cost Price) × 100

Calculations:

Profit percent = 40%, so:

(1400 - C) / C = 40 / 100

⇒ (1400 - C) = 0.4C

⇒ 1400 = 1.4C

⇒ C = 1400 / 1.4 = Rs. 1000

Now, when the item is sold at Rs. 1345, profit = 1345 - 1000 = Rs. 345

∴ The profit amount when the item is sold at Rs. 1345 is Rs. 345.

Given:

Total quantity of rice = 350 kg

Cost price per kg = ₹130

Quantity sold = 90% of 350 kg = 315 kg

Selling price for 315 kg = ₹190 per kg

Formula used:

Total Selling Price = Total Cost Price × (1 + Profit Percentage / 100)

Remaining Selling Price = Total Selling Price - Selling Price of 90% Quantity

Calculations:

Total Cost Price = ₹130 × 350 = ₹45,500

Total Selling Price = ₹45,500 × (1 + 90 / 100)

⇒ Total Selling Price = ₹86,450

Selling Price of 90% Quantity = ₹190 × 315 = ₹59,850

Remaining Selling Price = ₹86,450 - ₹59,850 = ₹26,600

Remaining Quantity = 350 - 315 = 35 kg

Selling Price per kg for remaining quantity = ₹26,600 ÷ 35

⇒ Selling Price per kg = ₹760

∴ The correct answer is option (4).

Given:

Cost Price (CP) of 2150 articles = Selling Price (SP) of 1720 articles

Formula used:

Gain% = \(\frac{\text{Gain}}{\text{Cost Price}} \times 100\)

Gain = SP - CP

Calculation:

Let the CP of 1 article be ₹1.

⇒ Total CP of 2150 articles = 2150 × 1 = ₹2150

Since CP of 2150 articles = SP of 1720 articles,

⇒ SP of 1 article = \(\frac{2150}{1720}\) = 1.25

Gain per article = SP - CP = 1.25 - 1 = 0.25

Gain% = \(\frac{0.25}{1} \times 100\)

⇒ Gain% = 25%

∴ The correct answer is option (3).

Calculation:

Let cost price of the item be Rs. x

According to the question

(x – 440) = (1000 – x) × 60/100

⇒ (x – 440) = (1000 – x) × 3/5

⇒ 5x – 2200 = 3000 – 3x

⇒ 5x + 3x = 3000 + 2200

⇒ 8x = 5200

⇒ x = 5200/8

⇒ x = 650

∴ The correct answer is option (1).

Shortcut Trick

Given :

A TV  set selling price in Delhi = Rs. X 

The discount is given on TV set in Chandigarh = 20%

Profit % = 100/7% = \(14\frac{2}{7}\)%

Transportation cost = Rs. 600

Formula Used:

Selling price = Cost Price × (100 + P%)/100

Calculation:

CP = 80% of X = 0.8X

According to the question

⇒ X = \(\frac{0.8X + 600 (100 + \frac{100}{7})}{100}\)

⇒ X =  \(\frac{0.8X + 600 (\frac{800}{7})}{100}\)

⇒ 100X =  \(\frac{(0.8X + 600)(800)}{7}\)

⇒ 700X = (0.8X + 600)(800)

⇒ 700X = 640X + 480000

⇒ 60X = 480000

⇒ X = 8000

∴ The value of X is Rs.8000

⇒ Selling Price of TV in Chandigarh = X – 20% of X = Rs. 0.8X

⇒ Total cost price of TV in Delhi = 0.8X + 600

⇒ Selling Price = Rs. X

⇒ Profit% = {(X – 0.8X – 600)/(0.8X + 600)} × 100

⇒ 100/7 = {(0.2X – 600) / (0.8x + 600)} × 100

⇒ 0.8X + 600 = 1.4X – 4200

⇒ X = 8000

Shortcut Trick

Fruits bought at 15 for Rs. 140

Equal quantity of bought at 10 for Rs. 120

Fruits sold at Rs. 132/dozen

Let, the total quantity of fruits = 30

               15 for Rs. 140            10 for Rs. 120          Total

CP              Rs. 140                        Rs. 180             Rs. 320

SP              Rs. 165                        Rs. 165             Rs. 330

Profit percent = (330 - 320)/320 × 100  = \(3 \frac{1}{8}\)%

∴ The required profit percent is  \(3 \frac{1}{8}\)%.

Alternate Method

Given:

Fruits at 15 for Rs. 140 = Fruits at 10 for Rs. 120

Fruits sold at Rs. 132/dozen

Formula used:

Profit > Loss 

Profit = SP - CP 

Profit percent = Profit/CP × 100 

Calculation:

Let, Total fruit brought

⇒ LCM (10 and 15) = 30

So, CP of 30 fruits at the rate of 15 for Rs. 140

⇒ 140/15 × 30 = Rs. 280

Similarly, CP of 30 fruits at 10 for Rs. 120,

⇒ 120/10 × 30 = Rs. 360

So, Total CP of 60 fruits = 280 + 360 = Rs. 640

Now,

⇒ SP of 12 fruits = Rs. 132

⇒ SP of 1 fruit = Rs. 11

⇒ SP of 60 fruits = Rs. 11 × 60 = Rs. 660

So, Profit = SP - CP = Rs.660 - Rs. 640 

⇒ Rs. 20 

Profit percent = 20/640 × 100 = \(3 \frac{1}{8}\)

∴ The required profit percent is  \(3 \frac{1}{8}\)%.

Given:

Total cost of potatoes and onions: Rs. 25,000

Gain on potatoes: 30%,  Loss on onions: 10%, and Overall gain: 20%

Calculation:

Let P be the buying price of potatoes and O be the buying price of onions. 

⇒ P + O = Rs. 25,000 →(1)

According to the question,

The overall gain of 20% on total cost,

⇒ SP = 25000 × \(\dfrac{120}{100}\) = Rs. 30000

The gain on selling potatoes is 30%, SP of potatoes= 1.3P

The loss on selling onions is 10%, SP of onions = 0.9O

Now, the selling prices of potatoes and onions add up to the total selling price,

⇒ 1.3P + 0.9O = 30,000

⇒ 1.3P + 0.9(25,000 - P) = 30,000    [From Eqn (1)]

⇒ 1.3P + 22,500 - 0.9P = 30,000

⇒ 0.4P = 7,500

⇒ P = \(\dfrac{7500}{0.4}\) = Rs. 18750

∴ Option (2) is the correct answer.

Shortcut Trick 

GIVEN:

SP = Rs. 1540 when loss = 30%

CONCEPT:
Basic profit and loss concept.

FORMULA USED:

SP = CP × (1 - Loss %/100)

SP = CP × (1 + Profit %/100)

CALCULATION:

Cost price of TV = 1540/(1 - 30/100)

= 1540/0.7 = Rs. 2200

Hence,

Calculation:

Let the cost price be Rs. y

When he had a profit,

Selling price = cost price + profit % of cost price

⇒ y + 25% × y = 1.25y

When he had a loss,

Selling price = cost price – loss% of cost price

⇒ y – 25% × y = 0.75y

According to the question,

⇒ 1.25y – 0.75y = 40

⇒ 0.50y = 40

⇒ y = 80

∴ Initial selling price = 1.25y = 1.25 × 80 = Rs.100

Alternate MethodCalculation:

Taking profit percentage as positive and the loss percentage as negative.

⇒ 25% - (-25%) = 40

⇒ 50% = 40

⇒ 1 = 80

S.P = 1.25 = 1.25 × 80 = 100

∴ The selling price is Rs.100.

Given,

Selling price of book = Rs. 575

Let cost price of book be Rs.a.

Concept Used:

Profit = S.P - C.P

Loss = C.P - S.P

Calculation:

⇒ Profit = 575 - a

Given,

Selling price of book = Rs. 385

⇒ Loss = a - 385

Then,

⇒ 575 - a = a - 385

⇒ 2a = 960

⇒ a = 480

Given:

P sells an article to Q at a loss of 5%

Q sells that article to R at a loss of 20%

R pays ₹ 2812 for the article

Concept:

P sells the article to Q. Therefore Q's Cost Price will be P's Selling Price and Q sells the article to R. Therefore R's Cost Price will be Q's Selling Price

Calculation:

R pays ₹ 2812 for the article

∴ R's Cost Price = 2812

Q's Selling Price = R's Cost Price = 2812

⇒ Q's Cost Price = 2812 × (100/80) = 3515   (∵ 20% Loss)

P's Selling Price = Q's Cost Price = 3515

⇒ P's Cost Price = 3515 × (100/95) = 3700   (∵ 5% Loss)

∴  The cost price for P = ₹3700

Let the cost price be Rs. x

⇒ Loss = x/7

⇒ Selling price = x – (x/7)

⇒ 144 = 6x/7

⇒ x = 168

⇒ New selling price = Rs. 189

Given:

Selling price of each articles = Rs. 10591

Gain = 19%

Loss = 11%

Calculation:

SP of each articles = Rs. 10591

CP of first article = Rs. (10591 × 100/119)

⇒Rs. 8900

CP of second article = Rs. (10591 × 100/89)

⇒ 11900

Total SP of both the article = 10591 × 2 = 21182

Total CP of both the article = 8900 + 11900 = 20800

Total Gain = 21182 – 20800 = 382

Gain percentage = (382/20800 × 100)

⇒ 1.83%

∴ His overall Profit percentage is 1.8%