The profit earned after selling an article for Rupees 996 is the same as the loss incurred after selling the article for Rupees 894. What is the cost price of the article?
Show Hint
When equal profit and loss are mentioned at two selling prices, the cost price is simply the midpoint of those prices: \(C=\frac{SP_1+SP_2}{2}\).
- Rupees 935
- Rupees 905
- Rupees 945
- Rupees 975
The Correct Option is C
Solution and Explanation
Step 1: Set up the equation.
Let cost price be \(C\).
Profit at Rupees 996 \(=996-C\).
Loss at Rupees 894 \(=C-894\).
Given equal: \(996-C=C-894\).
Step 2: Solve for \(C\).
\[ 996+894=2C \Rightarrow 1890=2C \Rightarrow C=945. \] \[ \boxed{Rupees \;945} \]
Top SNAP Quantitative Aptitude Questions
- Rahul starts a business with ₹ 8000. After $6$ months, Sanjay joins with some capital. If their profits after one year are equal, find Sanjay's investment.
- A watch is bought for ₹ 1950 in cash and sold for ₹ 2200 on one-year credit. If the interest rate is $10\%$ p.a., find the trader's gain/loss.
- An article is listed at ₹ 65. A customer bought this article for ₹ 56.16 and got two successive discounts, the first being $10\%$. What was the other discount rate allowed by the shopkeeper?
A company has $50{,}000$ preferred shares with dividend $20\%$ and $20{,}000$ common shares; par value of each share is ₹ 10. The total profit is $₹ 1{,}80{,}000$, of which $₹ 30{,}000$ is kept in reserve and the rest distributed to shareholders. Find the dividend percent paid to common shareholders.
A man buys apples at a certain price per dozen and sells them at eight times that price per hundred. What is his gain or loss percent?
Top SNAP Profit and Loss Questions
A man buys apples at a certain price per dozen and sells them at eight times that price per hundred. What is his gain or loss percent?
By selling $12$ notebooks, the seller earns a profit equal to the \(\textit{selling price}\) of $2$ notebooks. What is his percentage profit?
- A manufacturer can sell all he produces at ₹ 60 each. It costs ₹ 40 in materials and labour to produce each item and overhead expenses are ₹ 3000 per week. How many units should be produced and sold to make a profit of at least ₹ 1000 per week?
- A fruit seller buys some apples at the rate of 5 for Rupees 6 and an equal number more at 4 for Rupees 5. He sells the whole lot at 9 for Rupees 11. What is his loss or gain percent?
A shopkeeper bought 30 kg of rice at the rate of Rupees 90 per kg. He sold forty percent of the total quantity at the rate of Rupees 60 per kg. Approximately at what price per kg should he sell the remaining quantity to make 25% overall profit?
Top SNAP Questions
- In a retail outlet, the average revenue was Rs.10,000 per day over a 30 day period. During this period, the average revenue on weekends (total 8 days) was Rs. 20,000 per day. What was the average daily revenue on weekdays?
- Two different prime numbers X and Y, both are greater than 2, then which of the following must be true?
- It takes 6 hours for pump A, used alone, to fill a tank of water. Pump B alone takes 8 hours to fill the same tank. A, B and another pump C all together fill the tank in 2 hours. How long would pump C take, used alone, to fill the tank?
- A swimming pool can be filled by pipe A in 3 hours and by pipe B in 6 hours, each pump working on its own. At 9 am, pump A is started. At what time will the swimming pool be filled if pump B is started at 10 am?
- The sum of prime numbers that are greater than 60, but less than 70 is :