PROFIT AND LOSS

Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is: A. C. 4 4 % 7 10% B. D. 5 5 11 % 12%
Answer & Explanation

Answer: Option B Explanation: Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500. Selling Price (S.P.) = Rs. 5800. Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300. 300 5500 5 % 11

Gain % =

% View Answer Workspace Report Discuss in Forum 2.

x 100

=5

The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is: A. C. 15 18 B. D. 16 25

Answer & Explanation

Answer: Option B Explanation: Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x. S.P. of x articles = Rs. 20. Profit = Rs. (20 - x).

20 - x x

x 100 = 25

2000 - 100x = 25x 125x = 2000 x = 16. View Answer Workspace Report Discuss in Forum

3.

If selling price is doubled, the profit triples. Find the profit percent. A. 2 66 3 1 105 3 B. 100

C.

D.

120

Answer & Explanation

Answer: Option B Explanation: Let C.P. be Rs. x and S.P. be Rs. y. Then, 3(y - x) = (2y - x) y = 2x.

Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x. x x

% = 100% View Answer Workspace Report Discuss in Forum

Profit % =

x 100

4.

In a certain store, the profit is 320% 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. C. 30% 100% B. D. 70% 250%

Answer & Explanation

Answer: Option B Explanation:

Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420. New C.P. = 125% of Rs. 100 = Rs. 125 New S.P. = Rs. 420. Profit = Rs. (420 - 125) = Rs. 295. 295 420 1475 % = 70% (approximately). 21

% View Answer Workspace Report Discuss in Forum

Required percentage =

x 100

5.

A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%? A. C. 3 5 B. D. 4 6

Answer & Explanation

Answer: Option C Explanation: C.P. of 6 toffees = Re. 1 S.P. of 6 toffees = 120% of Re. 1 = Rs. For Rs. 6 5 , toffees sold = 6. 6x 5 6 = 5. 6 5

For Re. 1, toffees sold = 6.

The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit? A. C. Rs. 2000 Rs. 2400 B. D. Rs. 2200 Data inadequate

Answer & Explanation

Answer: Option A Explanation: Let C.P. be Rs. x. Then, 1920 - x x 100 = x - 1280 x 100

x 1920 - x = x - 1280 2x = 3200 x = 1600

Required S.P. = 125% of Rs. 1600 = Rs. View Answer Workspace Report Discuss in Forum 7.

125 100

x 1600

= Rs 2000.

A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit? A. C. Rs. 18.20 Rs. 72 B. D. Rs. 70 Rs. 88.25

Answer & Explanation

Answer: Option C Explanation: 100 122.5 1000 1225

C.P. = Rs.

x 392

= Rs.

x 392

= Rs. 320

Profit = Rs. (392 - 320) = Rs. 72. View Answer Workspace Report Discuss in Forum

8.

A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle? A. C. Rs. 1090 Rs. 1190 B. D. Rs. 1160 Rs. 1202

Answer & Explanation

Answer: Option C Explanation: 85 x 1400 100 View Answer Workspace Report Discuss in Forum S.P. = 85% of Rs. 1400 = Rs.

= Rs. 1190

9.

Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit? A. C. 3.5 5.6 B. D. 4.5 6.5

Answer & Explanation

Answer: Option C Explanation: 375 12

Cost Price of 1 toy = Rs.

= Rs. 31.25

Selling Price of 1 toy = Rs. 33 So, Gain = Rs. (33 - 31.25) = Rs. 1.75 1.75 28

% = 5.6% 5 % View Answer Workspace Report Discuss in Forum 31.25

Profit % =

x 100

10. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is: A. 30% B. 1 33 % 3 44%

C.

35%

D.

Answer & Explanation

Answer: Option D Explanation: Suppose, number of articles bought = L.C.M. of 6 and 5 = 30. 5 6 6 5

C.P. of 30 articles = Rs. S.P. of 30 articles = Rs. Gain % = 11 25 x 100

x 30 x 30

= Rs. 25. = Rs. 36.

% = 44%. 11. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

A. C.

Rs. 45 Rs. 55

B. D.

Rs. 50 Rs. 60

Answer & Explanation

Answer: Option D Explanation: (C.P. of 17 balls) - (S.P. of 17 balls) = (C.P. of 5 balls) C.P. of 12 balls = S.P. of 17 balls = Rs.720. 720

= Rs. 60. 12 View Answer Workspace Report Discuss in Forum 12. When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%? A. C. Rs. 21,000 Rs. 25,300 B. D. Rs. 22,500 Rs. 25,800

C.P. of 1 ball = Rs.

Answer & Explanation

Answer: Option C Explanation: 85 : 18700 = 115 : x 18700 x 115 85

x=

= 25300.

Hence, S.P. = Rs. 25,300. View Answer Workspace Report Discuss in Forum

13. 100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is: A. 2 14 % gain 7 2 14 % loss 7 B. 15% gain

C.

D.

15 % loss

Answer & Explanation

Answer: Option A Explanation: 350 100 48 12

C.P. of 1 orange = Rs. S.P. of 1 orange = Rs. Gain% = 0.50 3.50

= Rs. 3.50 = Rs. 4 = 100 2 % = 14 % 7 7

% View Answer Workspace Report Discuss in Forum

x 100

14. A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is: A. 5 15 % loss 17 B. 5 15 17 % gain

C.

2 6 % gain 3

D.

None of these

Answer & Explanation

Answer: Option B Explanation: C.P. of 1st transistor = Rs. C.P. of 2nd transistor = Rs. 100 120 100 96

x 840 x 960

= Rs. 700. = Rs. 1000

So, total C.P. = Rs. (700 + 1000) = Rs. 1700. Total S.P. = Rs. (840 + 960) = Rs. 1800. 100 15

% 17 % View Answer Workspace Report Discuss in Forum 1700

Gain % =

x 100

=5

15. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is: A. No profit, no loss B. 5%

C. E.

8% None of these

D.

10%

Answer & Explanation

Answer: Option B Explanation: C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600. S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680. 80 1600

Gain =

x 100

% = 5%.