Quantitative Aptitude > Percentages, Profit and Loss

Refresher Test - Percentages, Profit and Loss Launch Test Discuss

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Practice Test - Percentages, Profit and Loss Launch Test Discuss

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Free Online Preparation for CAT 2009 with Minglebox e-CAT Prep. Cover basic concepts of Percentage, Profit and Loss under Quantitative Aptitude for MBA Entrance Exam Preparation with Study material, solved examples and tests prepared by CAT coaching experts.

A student get 20 marks out of 30 in an examination , then we express this information as follows . If the student got 20 marks when the total marks were 30 what would he have got if the total marks was 100?
The amount to this question is = = 66.66% .
The person of finding the answer to the question what is the value if total in 100 is what leads is to percentage . This if we say student scored 66.66 percent it mean if total is 100 then student got 66.66 marks.

Equivalence between fraction and percentage

 

Fraction Equivalence Percentage
1 100%
1/2 50%
1/3 33.33%
1/4 25%
1/5 20%
1/6 16.67%
1/7 14.28%
1/8 12.5%
1/9 11.11%
1/11 9.09%

 

Percentage Change

If a quantity A is increased by 'x' then percentage increase =

= %

If a quantity is increased by a% then new value is given by similar if a quantity is decreased by a% then new

value is given by .

If a quantity is increased by a% and then further by b% these percent change given are equivalent to a single percent change given by

%


Similarly if there is a successive decrease of a% followed by b% then effective percentage decrease is

Selling Price, Marked Price and Cost Price

Selling price

(SP) is the price at which an article is sold cost price is the price at which an article is bought. If SP > CP then the difference SP – CP is known as the profit , P P = SP – CP

and if SP < CP then the difference CP – SP is known as loss, L L = CP – SP

Profit Percentage P% =

Loss Percentage L% =

Marked price.

The price which is displayed on the tag of the article is known as marked price.

Generally the SP is less then the marked price (MP) the difference MP – SP is known as discount D

Discount % , D% =

Solved Examples

Question

A shopkeeper sells sugar for Rs 25 per kg and makes a profit of 20%. If he sells the sugar for Rs 22.50 per Kg find his profit ?

Solution

Let the cost price CP of sugar be rs x per Kg then SP = CP + Profit

But Profit =

SP =

25 = CP (1.2)

CP =

Hence profit when SP is 22.50 Rs/ Kg

= 1.67 Rs/Kg

Profit % = %

Question

Mango bite is available for Rs 8 a dozen . If the shopkeeper offer a discount of 10% how many mango bites can be purchased for Rs 2.4

Solution

 

Discount Percentage = 10%

Marked price for 12 mango bites = Rs 8

8P of 12 mango bites = MP – Discount

Discount =

Hence SP =

12 toffees are available for Rs 7.2 hence for 2.4 we get 4 toffees.

Question

A men sells 2 pens Rs 100 each at a profit of 10% and another at a loss of 10% find his overall project or loss percentage.

Solution 

If the cost price of the 2 pens be x an y respectively then using profit % we get

CP = in case of project

and CP = in case of loss

Hence x = and y =

x = and y

Total CP of both pens =

Total loss =

=

=

Loss % =

= 1%

Note
In case 2 article are sold at same selling price one at a profit of a% another are at a loss of a% then there is overall loss on the whole out lay and loss percentage is given by

%

Question

20 is 16% of what number?

Solution

If number is 100 then 16% of 100 is 16 so if 20 is 16% of some number then

number =

Question

A company decided to reduce the price of its product by 20% . By what percentage the sales volume should increase , so that the total revenues of the company remains unchanged ?

Solution

Revenues(R) =

R = …............. (1)

New price =

Hence if ' ' is the new volume then

........... (2) equating (1) and (2)

We get

=

=

=

Therefore percentage increased is volume

= %

 

Refresher Test - Percentages, Profit and Loss Launch Test Discuss

Practice Test - Percentages, Profit and Loss Launch Test Discuss

Comments Add Comment

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arun0571 : there's a mistake in ques 1 & 7 of refresher test
in 1st wrong answer is feeded and in in 7 wrong figure is printed....

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