Multiple Choice Questions on A shopkeeper sold two varieties of rice variety P and variety Q to a customer He sold variety P at a........... for NABARD Assistant Manager Exam Preparation

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Multiple Choice Questions

A shopkeeper sold two varieties of rice variety P and variety Q to a customer He sold variety P at a...........

Quantitative Aptitude (Phase-1) Profit and loss
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    A shopkeeper sold two varieties of rice, variety P and variety Q, to a customer. He sold variety P at a loss of 15% and variety Q at a proft of 25%. He earned a total proft of Rs 12 on the whole deal. Find out the selling price of variety P if variety P costs Rs 80 more than variety Q.

    This questions was previously asked in
    Nabard grade-A, Previous year Memory Based Paper (2023)
    View All NABARD Previous Year Papers

     Rs 272 

    Correct Answer

    Rs 240

    Incorrect Answer

    Rs 300

    Incorrect Answer

    Rs 320

    Incorrect Answer

    Rs 256

    Incorrect Answer
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    Explanation:

    - We have two rice varieties, P and Q. Variety P incurs a 15% loss, while variety Q makes a 25% profit.

    - The net profit from both rice sales is Rs 12.

    - The cost price of variety P is Rs 80 more than variety Q.

    - Let's assume the cost price of variety Q is Rs x. Hence, P's cost price would be Rs (x + 80).

    - The selling price of P (with a 15% loss) would therefore be 85% of (x + 80).

    - The selling price of Q (with a 25% profit) would be 125% of x.

    - Total selling price = selling price of P + selling price of Q.

    - Total profit equation: (0.85 * (x + 80)) + (1.25 * x) = (x + 80) + x + 12.

    - Solve and calculate selling price of variety P.

    - Solve for x: 0.85x + 68 + 1.25x = x + 80 + x + 12.

    - Combining terms: 2.1x + 68 = 2x + 92.

    - 0.1x = 24, giving x = 240.

    - Selling price of variety P = 0.85 * (240 + 80) = 0.85 * 320 = Rs 272.

    - Option 1: Rs 272

    - Option 2: Rs 240

    - Option 3: Rs 300

    - Option 4: Rs 320

    - Option 5: Rs 256

    By: Parvesh Mehta
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