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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Ravish sold his motorcycle to Vineet at a loss of 28%. Vineet spent Rs 1680 on its repairs and sold the motor cycle to Rahul for Rs 35910, thereby making a profit of 12.5%, find the cost price of the motor cycle for Ravish. |
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Answer» Let us consider the cost price of motorcycle for Ravish be Rs x Loss% for Ravish = 28% Selling price for Ravish = x – x × 28/100 = (100x – 28x)/100 = 72x/100 = Rs 18x/25 Selling price for Ravish = cost price for Vineet = Rs 18x/25 Repair cost by Vineet = Rs 1680 Total cost price of the motorcycle for Vineet = Rs18x/25 + Rs 1680 Selling price for Vineet = Rs 35910 Profit = 35910 – (18x+42000)/25 = Rs (855750 – 18x)/25 Profit % = 12.5% (Given) By using the formula, Gain % = (gain/cost price) × 100 => [(855750-18x)/25] / [(18x+42000)/25] × 100 = 12.5 => [(855750-18x)/25] × [25/(18x+42000)] = 125/1000 => (855750-18x) / (18x+42000) = 1/8 => By cross multiplying we get => 8(855750-18x) = (18x+42000) => 6846000 – 144x = 18x + 42000 => 6846000 – 42000 = 18x + 144x => 162x = 6804000 x = 6804000/162 = 42000 ∴ Cost price of motorcycle for Ravish = Rs 42000 |
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| 2. |
By selling a book for Rs 258, a bookseller gains 20%. For how much should he sell it to gain 30%? |
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Answer» Given details are, Selling price of book is = Rs 258 The man’s gain percent is = 20% of 100 = 20/100 So, let us consider the cost price of book be Rs x By solving, x + x×20/100 = 258 x + x/5 = 258 (5x+x)/5 = 258 By cross multiplying 6x= 5×258 x = 1290/6 = 215 Now, the cost price of book is = Rs 215 For a gain of 30% the man should sell the book at = 215 + 215×30/100 = 215 + 64.5 = 279.50 ∴ To gain 30% the man should sell the book at Rs 279.50. |
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| 3. |
If the selling price of 18 chairs be equal to selling price of 16 chairs, find the gain or loss percent. |
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Answer» Given that, Cost price of 18 chairs = selling price of 16 chairs So, let the cost price of 1 chair be Rs x Selling price of 16 chairs =Rs 18x Selling price of 1 chair = Rs 18x/16 By using the formula, Gain = selling price – cost price = 18x/16 – x = 2x/16 = Rs x/8 By using the formula, Gain % = (gain/cost price) × 100 = (x/8)/x × 100 = 25/2 = 12 ½ % |
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| 4. |
A dishonest shopkeeper professes to sell pulses at his cost price but uses a false weight of 950 gm for each kilogram. Find his gain percent. |
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Answer» Let us consider the cost price of 1000gm pulses be Rs x Selling price of 950 gm pulses is also = Rs x Selling price of 1000 gm pulses = x/950 × 1000 So, Gain = SP – CP Gain = 1000x/950 – x = (1000x – 950x)/950 = 50x/950 Gain % = (gain/cost price) × 100 = (50x/950)/x × 100 = 50x/950x × 100 = 5/95 × 100 = 100/19 = 5 5/19% ∴ The Shopkeeper’s gain percent is 5 5/19%. |
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| 5. |
The list price of a refrigerator is Rs. 9700. If a value added tax of 6% is to be charged on it, how much one has to pay to buy the refrigerator? |
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Answer» Given, The list price of a refrigerator is = Rs 9700 VAT = 6% Rate of VAT = 6% of Rs 9700 = 6/100 × 9700 = Rs 582 ∴ The total amount one has to pay to buy refrigerator is Rs 9700 + Rs 582 = Rs 10282 |
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| 6. |
Vikram bought a watch for Rs. 825. If this amount includes 10% VAT on the list prices. What was the list price of the watch? |
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Answer» Given, Vikram bought watch for = Rs 825 VAT = 10% Let the list price of the watch be = Rs x VAT at the rate of 10% on Rs x = Rs 10/100 × x = Rs x/10 So, the list price of the watch = Rs (x + x/10) = Rs 11x/10 It is given that watch is bought at the price of Rs 825 ∴ 11x/10 = 825 x = (825×10)/11 = 750 ∴ List price of the watch is Rs 750 |
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| 7. |
A retailer buys a cooler for Rs 1200 and overhead expenses on it are Rs 40. If he sells the cooler for Rs 1550, determine his profit percent. |
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Answer» We know the cost price of cooler = Rs 1200 Overhead expenses = Rs 40 Total cost = Rs 1200 + Rs 40 = Rs 1240 Selling price of cooler = Rs 1550 By using the formula, Gain = selling price – cost price = Rs 1550 – Rs1240 = Rs 310 By using the formula, Gain % = (gain/cost price) × 100 = 310/1240 × 100 = 25% |
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| 8. |
A publisher gives 32% discount on the printed price of a book to booksellers. What does a book seller pay for a book whose printed price is Rs. 275? |
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Answer» Given, Printed price (MP) = Rs 275 Discount = 32% Discount = (MP × Discount %)/100 = (275×32)/100 = 88 SP = MP – Discount = 275 – 88 = Rs 187 ∴ The book seller pays Rs 187. |
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| 9. |
Jasmine allows 4% discount on the marked price of her goods and still earns a profit of 20%. What is the cost price of a shirt for her marked at Rs. 850? |
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Answer» Given, Gain = 20% MP of the shirt = Rs 850 Discount = 4% Discount allowed on the marked price of goods = 4/100 × 850 = Rs 34 So, SP of the shirt = (850 – 34) = Rs 816 By using the formula, CP = 100/(100 + gain%) × SP = 100/(100 + 20) × 816 = 100/120 × 816 = Rs 680 ∴ Cost price of a shirt is Rs 680. |
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| 10. |
By selling a pair of earrings at a discount of 25% on the marked price, a jeweller makes a profit of 16%. If the profit is Rs. 48, what is the cost price? What is the marked price and the price at which the pair was eventually bought? |
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Answer» Given, Earrings are bought at 25% discount Profit percent of seller = 16% Gain = Rs 48 So, by using the formula, Gain% = (gain/CP) × 100 16 = (48/CP) × 100 16/100 = 48/CP CP = (48×100)/16 = Rs 300 Now, CP = Rs 300 Cost price of the earrings = Rs 300 Profit = Rs 48 Profit = SP – CP SP = Profit + CP = 48 + 300 = 348 Given, additional discount of 25% By using the formula MP = (100 × SP) / (100 – Discount %) = (100 × 348) / (100 – 25) = (100 × 348) / 75 = 34800/75 = Rs 464 ∴ Marked Price is Rs 464, CP is 300 and Final selling price is 348. |
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| 11. |
Jyoti and Meena run a ready-made garment shop. They mark the garments at such a price that even after allowing a discount of 12.5%, they make a profit of 10%. Find the marked price of a suit which costs them Rs. 1470. |
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Answer» Given, CP of suit = Rs 1470 Gain = 10% By using the formula, SP = (100 + gain%)/100 × CP = (100 + 10)/100 × 1470 = 110/100 × 1470 = Rs 1617 Given, Discount = 12.5% So, MP = (100 × SP) / (100 – Discount %) = (100 × 1617) / (100 – 12.5) = 161700/87.5 = Rs 1848 ∴ The marked price of the suit is Rs 1848. |
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| 12. |
Find the S.P. if(i) M.P. = Rs 1300 and Discount = 10%(ii) M.P. = Rs 500 and Discount = 15% |
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Answer» (i) Given, M.P. = 1300 Discount = 10% By using the formulas SP = Marked price (MP) – Discount Discount = (MP × Discount %)/100 Discount% = (Discount)/M.P. × 100 By using, Discount = (MP × Discount %)/100 = (1300×10)/100 = Rs 130 SP = MP – Discount = (1300 – 130) = Rs 1170 (ii) Given, M.P. = 500 Discount = 15% By using, Discount = (MP × Discount %)/100 = (500×15)/100 = Rs 75 SP = MP – Discount = (500 – 75) = Rs 425 |
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| 13. |
Shabana bought 16 dozen ball bens and sold them at a loss equal to S.P. of 8 ball pens. Find(i) her loss percent(ii) S.P. of 1 dozen ball pens, if she purchased these 16 dozen ball pens for Rs 576. |
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Answer» Given, number of ball pens bought by Shabana is = 16 dozen = 16×12 = 192 pens So, let’s consider the cost price of each pen as Rs x CP of 8 pens = Rs 8x Let SP of one pen be = Rs x So, SP of 192 pens = 192x Given, loss of 192 pens = SP of 8 ball pens So, loss = 8SP 192x = (192+8) SP SP = 192x/200 Loss = CP – SP = x – 192x/200 (i) Loss% = (loss/CP) × 100 = (x – 192x/200)/x × 100 = (200x-192x)/200x × 100 = 8/2 = 4% (ii) Given, CP of 16 dozen pens = Rs 576 192x = 576 x = 576/192 We know that SP of 1 pen = 192x/200 SP of dozen pens = 12 × 192x/200 = 12 × 192/200 × 576/192 = 12 × 576/200 = 34.56 ∴ Loss% = 4% and SP of 1 dozen pens is Rs 34.56 |
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| 14. |
Pranav and sarita had set up stalls in a fun fair. Study the data given below and answer the questions. |
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Answer» Total amount invested by Pranav = 70 + 25 + 45 + 14 + 20 = Rs 174 Amount gained through sale = Rs 160 ∴ Selling price is less than invested price. ∴ Pranav incurred a loss in his Pav Bhaji business. Hence, he is disappointed. Total amount invested by Sarita = 20 + 10 + 30 + 50 + 20 + 60 = Rs 190 Amount gained by selling = Rs 230 ∴ Selling price is more than invested price. ∴ Sarita made profit in her business. Hence, she is happy. |
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| 15. |
Lalitabai sowed seeds worth Rs 13700 in her field. She had to spend Rs 5300 on fertilizers and spraying pesticides and Rs 7160 on labor. If, on selling her produce, she earned Rs 35400 what was her profit or her loss? |
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Answer» Cost price of seeds = Rs 13700 Cost of fertilizers and pesticides = Rs 5300 Labor cost = Rs 7160 ∴ Total cost price = Cost price of seeds + Cost of fertilizers and pesticides + Labor cost = 13700 + 5300 + 7160 = Rs 26160 Selling price = Rs 35400 Selling price is greater than the total cost price. ∴ Lalitabai made a profit. Profit = Selling price – Cost price = 35400 – 26160 = Rs 9240 ∴ Lalitabai made a profit of Rs 9240. |
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| 16. |
The cost of furniture inclusive of VAT is Rs. 7150. If the rate of VAT is 10%, find the original cost of the furniture. |
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Answer» Given, Cost of furniture inclusive of VAT is = Rs 7150 VAT = 10% Let us consider the original cost of furniture be = Rs x VAT at the rate of 10% on Rs x = Rs 10/100 × x = Rs 10x/100 So, x + 10x/100 = 7150 (100x+10x)/100 = 7150 110x/100 =7150 11x/10 = 7150 11x = 7150 × 10 x = 71500/11 = 6500 ∴ Original cost of the furniture is Rs 6500 |
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| 17. |
By selling 8 pens, Shyam loses equal to the cost price of 2 pens. Find his loss percent. |
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Answer» Let C.P. of 1 pen = Re.1 C.P. of 2 pens = Rs.2 and C.P. of 8 pens = Rs.8 Loss = Rs.2 ….[Loss = C.P. of 2 Pens] Loss% = (2/8) x 100 = 25% |
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| 18. |
The Jijamata Women’s Saving Group bought raw materials worth Rs 15000 for making chakalis. They sold the chakalis for Rs 22050. How much profit did the WSG make? |
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Answer» Cost price of raw materials = Rs 15000 Selling price of chakalis = Rs 22050 ∴ Profit = Selling price – Cost price = 22050 – 15000 = Rs 7050 ∴ The Women’s Saving Group made a profit of Rs 7050. |
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| 19. |
From a wholesaler, Santosh bought 400 eggs for Rs 1500 and spent Rs 300 on transport. 50 eggs fell down and broke. He sold the rest at Rs 5 each. Did he make a profit or a loss? How much? |
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Answer» Cost price of 400 eggs = Rs 1500 Transportation cost = Rs 300 ∴ Total cost price of 400 eggs = Cost price of 400 eggs + Transportation cost = 1500 + 300 = Rs 1800 50 eggs fell and broke ∴ Remaining eggs = 400 – 50 = 350 Selling price of 1 egg = Rs 5 ∴ Selling price of 350 eggs = 5 x 350 = Rs 1750 Total cost price is greater than the selling price. ∴ Santosh suffered a loss. Loss = Total cost price – Selling price = 1800 – 1750 = Rs 50 ∴ Santosh incurred a loss of Rs 50. |
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| 20. |
1. If Sarita had bought twice as much, would she have gained twice as much? 2. What should Pranav do the next time he sets up a stall to sell more pav bhaji and make more gains? |
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Answer» 1. If Sarita would have bought twice as much, she would have prepared double quantity of food items. Hence, she would have gained twice as much. 2. Next time Pranav sets a stall, he must sell pav bhaji at a higher cost than he had sold earlier in order to make more gains. |
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| 21. |
At Diwali, in a certain school, the students undertook a Design a Diya project. They bought 1000 diyas for Rs 1000 and some paint for Rs 200. To bring the diyas to the school, they spent Rs 100 on transport. They sold the painted lamps at Rs 2 each. Did they make a profit or incur a loss?Total cost price and profit or lossi. Is Anju right? ii. What about the money spent on paints and transport?iii. How much money was actually spent before the diyas could be sold? iv. How much actual profit was made in this project of colouring the diyas and selling them? |
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Answer» i. No, Anju is wrong. Cost price of diyas also includes the painting and transportation cost. ∴ Total cost price of diyas = Cost of diyas + Cost of paint + Transportation cost = 1000 + 200+ 100 = Rs 1300 ii. The cost of paint was Rs 200 and that for transportation was Rs 100. These costs are also to be added to the cost price of diyas. iii. Rs 1300 was actually spent before the diyas could be sold. iv. Total Cost Price of 1000 Diyas = Rs 1300 Selling Price of 1 Diya = Rs 2 ∴ Selling Price of 1000 Diyas = 2 x 1000 = Rs 2000 ∴ Profit = Selling Price – Total Cost Price = 2000 – 1300 = Rs 700 ∴ The profit made by coloring the diyas and selling them was Rs 700. |
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| 22. |
A farmer sells what he grows in his fields. How is the total cost price calculated? What does a farmer spend on his produce before he can sell it? What are the other expenses besides seeds, fertilizers and transport? |
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Answer» The farmer, in order to calculate the total cost price of his produce, needs to consider all the expenses associated with the growing and selling of his produce. Following are the things on which farmer spends money before he can sell it. 1. Time and energy 2. Ploughing and tilling 3. Irrigation and electricity cost 4. Harvesting and cleaning 5. Packing As given above, there are a multiple of costs to be included besides seeds, fertilizers and transport for the farmer to price its produce appropriately. |
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| 23. |
The cost price and selling price are given in the following table. Find out whether there was a profit or a loss and how much it was.Ex.Costprice(in Rs)Sellingprice(in Rs)Profitor LossHow much?i.45005000ii.41004090iii.700799iv1000920 |
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Answer» i. Cost price = Rs 4500 Selling price = Rs 5000 Selling price is greater than cost price. ∴ There is a profit. ∴ Profit = Selling price – Cost price = 5000 – 4500 ∴ Profit = Rs 500 ii. Cost price = Rs 4100 Selling price = Rs 4090 Cost price is greater than selling price. ∴ There is a loss. ∴ Loss = Cost price – Selling price = 4100 – 4090 ∴ Loss = Rs 10 iii. Cost price = Rs 700 Selling price = Rs 799 Selling price is greater than cost price. ∴ There is a profit. ∴ Profit = Selling price – Cost price = 799 – 700 ∴ Profit = Rs 99 iv. Cost price = Rs 1000 Selling price = Rs 920 Cost price is greater than selling price. ∴ There is a loss. ∴ Loss = Cost price – Selling price = 1000 – 920 ∴ Loss = Rs 80
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| 24. |
A shopkeeper allows 23% commission in his advertised price and still makes a profit of 10%. If he gains Rs. 56 on one item, find his advertised price. |
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Answer» Let us consider the advertised price be = Rs x And the commission on the advertised price = 23% = Rs 23x/100 Selling price = advertised price – commission = x – 23x/100 = (100x – 23x)/100 = Rs 77x/100 ……(equation 1) Given gain = Rs 56 Profit percent = 10% So, by using the formula, Gain% = (gain/CP) × 100 10 = (56/CP) × 100 10/100 = 56/CP CP = 560 Gain = SP – CP SP = 560 + 56 = Rs 616 From the above equation 1 we get, 77x/100 = 616 x = (616 × 100)/77 = 800 ∴ Advertised price is Rs 800. |
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| 25. |
A shopkeeper bought a bicycle for Rs 3000 and sold the same for Rs 3400. How much was his profit? |
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Answer» Cost price = Rs 3000, Selling price = Rs 3400 ∴ Profit = Selling price – Cost price = 3400 – 3000 = Rs 400 The shopkeeper’s profit was Rs 400. |
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| 26. |
Kusumtai bought 80 cookers at Rs 700 each. Transport cost her Rs 1280. If she wants a profit of Rs 18000, what should be the selling price per cooker? |
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Answer» Cost price of one cooker = Rs 700 ∴ Cost price of 80 cookers = 700 x 80 = Rs 56000 Transportation cost = Rs 1280 ∴ Total cost price = Cost price of 80 cookers + Transportation cost = 56000 + 1280 = Rs 57280 Profit = Rs 18000 Profit = Selling Price – Total Cost Price ∴ Required selling price = Total cost price + profit = 57280 + 18000 = Rs 75280 ∴ Selling price of 80 cookers = Rs 75280 ∴ Selling price of 1 cooker = \(\cfrac{75280}{80}\)= Rs 941 ∴ The selling price per cooker should be Rs 941. |
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| 27. |
Sunandabai bought milk for Rs 475. She converted it into yogurt and sold it for Rs 700. How much profit did she make? |
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Answer» ∴ Cost price = Rs 475, Selling price = Rs 700 ∴ Profit = Selling price – Cost price = 700 – 475 = Rs 225 ∴ Sunandabai made a profit of Rs 225. |
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| 28. |
Number ofsquaresNumber of sticks4710Arpita used 4 matchsticks to make a square. Then she took 3 more sticks and arranged them to make 2 squares. Another 3 sticks helped her to make 3 squares. How many sticks are needed to make 7 such squares in the same way? How many sticks are needed to make 50 squares? |
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Answer» Matchsticks needed to make 7 squares = 4 + (6 × 3) = 22 Matchsticks needed to make 50 squares= 4 + (49 × 3) = 151 |
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| 29. |
Abraham bought goods worth Rs 50000 and spent Rs 7000 on transport and octroi. If he sold the goods for Rs 65000, did he make a profit or a loss? How much? |
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Answer» Cost price of goods = Rs 50000 Transportation cost and octroi = Rs 7000 ∴ Total cost price for buying goods = Cost price of goods + Transportation cost and octroi = 50000 + 7000 = Rs 57000 Selling price of goods = Rs 65000 Selling price is greater than the total cost price ∴ Abraham made a profit. Profit = Selling price – Total cost price = 65000 – 57000 = Rs 8000 ∴ Abraham made a profit of Rs 8000. |
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| 30. |
A wrist-watch is available at a discount of 9%. If the list-price of the watch is Rs. 1,400 ; find the discount given and the selling price of the watch. |
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Answer» List price of the watch = Rs. 1,400 Discount = 9% Discount = (1400 x 9)/100 = 14 x 9 = Rs. 126 S.P. = (List price - Discount) = Rs.(1400 - 126) = Rs.1274 |
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| 31. |
Raju sells a watch at 5% profit. Had he sold it for Rs.24 more ; he would have gained 11%. Find the cost price of the watch. |
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Answer» Let C.P. of the watch = Rs.100 When profit = 5%; S.P. = Rs.(100+5) = Rs.105 When profit = 11%; S.P. = Rs.(100 + 11) = Rs .111 Difference of two selling prices = Rs. 111 – Rs. 105 = Rs.6 When watch sold for Rs.6 more; then C.P. of the watch = Rs.100 When watch sold for Re. 1 more; then C.P. of the watch = Rs. 100/6 When watch sold for Rs.24 more; then C.P. of the watch = Rs. (100/6) x 24 = Rs.400 |
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| 32. |
The cost price of 20 articles is same as the selling price of 16 articles. Find the gain percent. |
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Answer» C.P. of 20 articles = S.P. of 16 articles. Let C.P. of 1 article = Re. 1 C.P. of 20 articles = Rs.20 and C.P. of 16 articles = Rs.16 S.P. of 16 articles = Rs.20 [S.P. of 16 articles = C.P. of 20 articles] Gain = Rs.20 – Rs.16 = Rs.4 Gain% = (4/16) x 100 = (4 x 100)/16 = 25% |
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| 33. |
The selling price of 15 articles is equal to the cost price of 12 articles. Find the gain or loss as percent. |
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Answer» S.P. of 15 articles = C.P. of 12 articles Let C.P. of 1 article = Re.1 C.P. of 12 article = Rs.12 and C.P. of 15 articles = Rs.15 S.P. of 15 articles = Rs.12 [S.P. of 15 articles = C.P. of 12 articles] Loss = Rs.15 – Rs.12 = Rs.3 Loss% = (3/15) x 100 = 20% |
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| 34. |
Pramod bought 100 bunches of methi greens for Rs 400. In a sudden downpour, 30 of the bunches on his handcart got spoil. He sold the rest at the rate of Rs 5 each. Did he make a profit or a loss? How much? |
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Answer» Cost price of 100 bunches of methi green = Rs 400 Since, 30 bunches got spoil, ∴ Remaining bunches of methi green = 100 – 30 = 70 Selling price of 1 bunch of methi green = Rs 5 ∴ Selling price of 70 bunches of methi green = 5 x 70 = Rs 350 Cost price is greater than selling price ∴ Pramod suffered a loss. Loss = Cost price – Selling price = 400 – 350 = Rs 50 ∴ Pramod suffered a loss of Rs 50. |
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