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Q:

Ravi, Anand and Pranay are running a business firm in partnership. What is Anand's share in the profit earned by them?

a. Ravi, Anand and Pranay invested the amounts in the ratio of 2 : 4 : 7.

b. Pranay's share in the profit is Rs. 8750.

A) Only a is sufficient	B) Neither a nor b is sufficient
C) Only b is sufficient	D) Both a and b sufficient

Answer & Explanation Answer: D) Both a and b sufficient

Explanation:

Given Pranay's profit in the share is Rs. 8750

But given that their investments are in the ratio 2:4:7

$\frac{7}{13} \times P$ = 8750

P = 16250

Now Anand's share = $\frac{4}{13} \times 16250$ = Rs.5000

Thus both staements a and b are sufficient to answer this question.

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Filed Under: Partnership
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Q:

Karan started a business investing Rs 29000. After five months, Satish joined with a capital of Rs 18000. If at the end of the year, they earn a profit of Rs. 16970, then what will be the share of Satish in the profit ?

A) Rs. 5422	B) Rs. 5489
C) Rs. 4511	D) Rs. 6145

Answer & Explanation Answer: C) Rs. 4511

Explanation:

Now as per question, Karan invested for 12 months and Satish invested for 7 months.

So, Karan:Satish = (29000 x 12):(18000 x 7)

= 348:126

= 58:21

Satish Ratio in profit will be= $16970 \times \frac{21}{79}$ = Rs. 4511

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Q:

Statement: People in Pratapgarh are not paying their telephone bills in spite of the various verbal warnings and remainders. It has now informed the subscribers through a notification that those who do not pay their bills by the due date will be charged penalty for every defaulting day.
Course of action:
a. Majority of people may pay their bills by the due date to avoid penalty.
b. People generally pay heed to such statutory notifications.

A) Only a follows	B) Both a & b follows
C) Only b follows	D) Neither a nor b follows

Answer & Explanation Answer: B) Both a & b follows

Explanation:

Enforcing a penalty will motivate people to pay the bills. So, course of action a follows.
It is general tendency to act accordingly when a penalty clause slapped. So, course of action b follows.

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Q:

A shopkeeper sells two articles at Rs.1000 each, making a profit of 20% on the first article and a loss of 20% on the second article. Find the net profit or loss that he makes?

A) 2%	B) 4%
C) 3%	D) 2.5%

Answer & Explanation Answer: B) 4%

Explanation:

SP of first article = 1000

Profit = 20%

CP = $\frac{100}{100 + P} \times S P$ = 5000/6 = 2500/3

SP of second article = 1000

Loss = 20%

CP = $\frac{100}{100 - L} \times S P$ = 5000/4 = 1250

Total SP = 2000

Total CP = $\frac{2500}{3}$ + 1250 = 6250/3

CP is more than SP, he makes a loss.

Loss = CP-SP = (6250/3)- 2000 = 250/3

Loss Percent = $\frac{\frac{250}{3}}{\frac{6250}{3}} \times 100$ = 4%

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Filed Under: Profit and Loss
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Q:

In a certain Business, the profit is 220% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit ?

A) 61%	B) 75%
C) 55%	D) 81%

Answer & Explanation Answer: A) 61%

Explanation:

Let C.P.= Rs. 100.

Then, Profit = Rs.220,

S.P. = Rs.320.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs.320.

Profit = Rs. (320 - 125) = Rs. 195

Required percentage = $\frac{195}{320} \times 100$ == 60.9 =~ 61%

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Filed Under: Profit and Loss
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Q:

The cost price of 40 Magazines is the same as the selling price of 'P' articles. If the profit is 25%, then the value of 'P' is:

A) 32	B) 40
C) 16	D) 30

Answer & Explanation Answer: A) 32

Explanation:

Let C.P. of each Magazine be Rs. 1

C.P. of P articles = Rs. P.

S.P. of P articles = Rs. 40.

Profit = Rs. (40 - P)

Now, Gain% = $\frac{P r o f i t}{C . P} \times 100$ = $\frac{40 - P}{P} \times 100$

Here $\frac{40 - P}{P} \times 100$ = 25

-->P = 32.

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Q:

There are six persons 1, 2, 3, 4, 5 and 6. 3 is the sister of 6. 2 is the brother of 5's husband. 4 is the father of 1 and grandfather of 6. There are two fathers, three brothers and a mother in the group. Which of the following is a group of brothers ?

A) 1, 2, 3	B) 3, 2, 6
C) 1, 2, 4	D) 1, 2, 6

Answer & Explanation Answer: D) 1, 2, 6

Explanation:

4 is father of 1 and grandfather of 6. So, 1 is father of 6. Thus, 4 and 1 are the two fathers.
3 is the sister of 6. So, 3 is the daughter of 1. Since there is only one mother, it is evident that 5 is the wife of 1 and hence the mother of 3 and 6. So, 2 is brother of 1. There are three brothers. So, 6 is the brother of 3. Hence, 2 and 1 are brothers. 6 is the brother of 3. So, three brothers are 1, 2, 6.

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Filed Under: Blood Relations
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Q:

Pointing to a photograph, a man said, "I have no brother or sister but that man’s father is my father’s son." Whose photograph was it?

A) His uncle's	B) His nephew's
C) His son's	D) His Cousin's

Answer & Explanation Answer: C) His son's

Explanation:

Since the narrator has no brother, his father’s son is he himself. So, the man who is talking is the father of the man in the photograph. Thus, the man in the photograph is his son.

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Filed Under: Blood Relations
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