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IBPS PO Exam: Quantitative Aptitude: Profit, Loss & Discount – Study Material

Oct 23, 2013 18:34 IST

    Institute of Banking and Personnel Selection (IBPS) will shortly conduct Common Written Examination 2013 for appointing eligible candidates for the post of Probationary Officers. IBPS Bank PO Exam 2013 conducting on 19 October 2013, 20 October 2013, 26 October 2013, and 27 October 2013. The common written examination comprise of 5 different sections that are General Awareness, English Language, Reasoning, Quantitative Aptitude, and Computer Knowledge.

    Banking Experts of Jagranjosh.com work hard to develop effective study material of every that assist the candidates in preparing better. Here, they have provided description on the topic of Profit, Loss and Discount, a part of Quantitative Aptitude syllabus along with some questions of previous paper.

    Profit, Loss & Discount

    Profit and Loss is an extension of the chapter of percentages. It is a very important branch of basic Mathematics. This branch deals with the study of Profit and loss made in any commercial transaction.

    Some Basic terms used in Profit and loss are:

    Cost price – The price, at which an article is purchased, is called Cost price and it is abbreviated by C.P.

    Selling Price The price, at which an article is sold, is called its selling price and it is abbreviated by S.P.

    Profit –

    If S.P. > C.P., then seller is said to have a profit.

    Loss –

    If SP < CP, Then seller is said to have incurred a loss.

    Marked Price (M.P.) : The markup price above Cost price at which Discount is given.

    Formulae –

    Questions From Previous Year Papers

    1. An article was purchased for Rs. 78,350/-. Its price was marked up by 30%. It was sold at a discount of 20% on the marked up price. What was the profit percent on the cost price? (IBPS CWE PO MT 2012)

    (1) 4    

    (2) 7    

    (3) 5    

    (4) 3    

    (5) 6

    Ans: (1)

    2. The cost of 8 kg of almonds is equal to the cost of 50 kg of apples. The cost of 19 kg of mangoes is Rs. 456. The cost of 1 kg of apples is twice the cost of 2 kg of mangoes. What is the total cost of 3 kg of almonds and 4 kg of apples together?

    (1)   Rs. 2,168

    (2)   Rs. 2,248

    (3)   Rs. 2,184

    (4)   Rs. 2,264

    (5)   None of these

    Ans: (3)

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