Question 1

6 % more is gained by selling a coat for Rs.1425 than by selling it for Rs. 1353. The cost price of the coat is?

Accepted Answer

6% of cost price (CP) = 1425 - 1353 = 72 ∴ CP = ( 72 x 100 ) / 6 = 1200

Question 2

A person sold two cows each for Rs. 9900. If he gained 10% on one and lost 20% on the other, then which of the following is true?

Accepted Answer

The cost price ( CP ) of profitable cow = 9900 / 1.1 = 9000 and profit = Rs. 900 The CP of loss yielding cow = 9900 / 0.8 =12375 and loss = Rs. 2475 So the net loss = 2475 - 900 = 1575

Question 3

An item costing Rs. 200 is being sold at 10% loss. If the price is further reduces by 5%, the selling price will be?

Accepted Answer

Selling price after 10 % loss = 200 - 10% = 180 Selling price after additional 5% loss = 180 - 5% = 171

Question 4

Arun bought toffees at 6 for a rupee. How many for a rupee he should sell to gain 20%?

Accepted Answer

You can go through options. CP = 100 / 6 = 16.66 paisa SP = 100 / 5 = 20 paisa Profit (%) = [( 20 - 16.66 ) / 16.66 ] X 100 = [ 3.33 /16.66 ] X 100 = ( 1 / 5 ) X 100 = 20% Hence, option (c) is correct. Alternatively: CP = 100 / 6 SP = ( 100 / 6 ) X 1.2 = 100 / 5 Hence, he should sell 5 toffees for Re. 1 (100 paisa)

Question 5

Mr.Mittal purchased a car for Rs. 3,00,000 and a bike for his son for Rs. 1,00,000. He sold the car at a profit of 10% and bike at a loss of 20%. What is the net gain or loss?

Accepted Answer

Gain = 10% of 3,00,000 = 30000 Loss = 20% of 1,00,000 = 20000 Net gain = 10000 over Rs.4 lakh Hence, profit = 10000/400000 x 100 = 2.5%

Question 6

A single discount equivalent to three successive discounts of 5% , 10% , 20% is :

Accepted Answer

Let the original price be 100 Rs. So reduced price = 100 X 0.95 X 0.90 X 0.80 = 68.40 ∴ Single discount = (100 — 68.4) % = 31.6%

Question 7

An item was sold after giving two successive discount of 20% and 10% respectively. If the item was sold for Rs. 468. The marked price of that item is :

Accepted Answer

Let the price be y , then y x 0.8 x 0.9 = 468 ∴ x=650, therefore marked price = Rs. 650 Alternatively : 650 X 0.8 X 0.2 = 468 Hence option (d) is correct

Question 8

The profit percentage on the three articles A , B and C is 10%,20% and 25% and the ratio of the cost price is 1 : 2 : 4 . Also the ratio of number of articles sold of A , B and C is 2 : 5 : 2 then the overall profit percentage is :

Accepted Answer

CP of A + B + c = 2xy + 5x*2y - 2x*4y = 20xy profit of A = 0.2xy profit of B = 2xy profit of C = 2xy Total profit = 4.2xy % profit = (4.2xy / 20xy) X 100 = 21%

Question 9

A shopkeeper sold 12 cameras at a profit of 20% and 8 cameras at a profit of 10%. If he had sold all the 20 cameras at a profit of 15% , then his profit would have been reduced by Rs. 36. what is the cost price of each camera?

Accepted Answer

Go through option C 180 x 12 x 1.2 + 180 x 8 x 1.1 = 180 [ 14.4 + 8.8 ] = 180 (23.2) = 4176 And 180 x 20 x 1.15 = 4140 Therefore loss = 4176 - 4140 = 36 Hence option (c) is correct

Question 10

The CP of 19 articles is same as the selling price of 29 articles. what is the loss %?

Accepted Answer

CP / SP = 29x / 19x loss % = 29x - 19x / 29x X 100 = 34.48 % (To understand the concept assume CP of each article Rs 29 and SP of each article = Rs. 19)

Question 11

ITC sells one product at a profit of 20% another at a loss of 20% at the same selling price. what is the loss incurred by ITC?

Accepted Answer

Loss % = ( common gain or loss / 10 )2 % = (20 / 10)2 % = 4%

Question 12

ITC sells one product at a profit of 20% another at a loss of 20% at the same selling price. , If SP of each article be Rs. 200, what is the amount of loss?

Accepted Answer

Loss % = ( common gain or loss / 10 )2 % = (20 / 10)2 % = 4% Now assume total CP of both articles be x, then SP = 0.96x = 400 x = 400 / 0.96 = CP loss = 4% of CP = (4 / 100) X (400 / 0.96) = Rs. 16.66

Question 13

A wholesaler sells toys at a profit of 20% to a retailer and retailer sells these toys to its customer at a profit of 25%. What is the profit percentage of the retailer?

Accepted Answer

Its simple i.e. 25% nothing else, which is very obvious

Question 14

At kul - kul petrol pump the operator gives 5% less petrol but he sells it at the cost price.What is his profit in this way?

Accepted Answer

He sells 95 litre petrol at the price of 100 litre. So profit % = [ 5 / 95 ] X 100 = 5.26%

Question 15

Abhinav save Rs. 25 by getting 6.66% discount on a textbook.What is the amount of money (in Rs.) paid by him?

Accepted Answer

6.66% of MP = 25 ⇒ MP = 375 ∴ SP = MP - 25 = 350

Question 16

Abhishek and Bhanu both are dealers of KML scooters.The price of a KML Scooter is Rs. 28,000.Abhishek gives a discount of 10% on whole, while Bhanu gives a discount of 12% on the first Rs 20,000 and 8% on the rest Rs. 8000. What is the difference be…

Accepted Answer

Abhishek Discount = 2800 Bhanu Discount =2400+640=3040 The difference in selling price is same as difference in discount = 3040 - 2800 = Rs.240

Question 17

A trader sells two articles, one at a loss of 10% and another at a profit of 15% but finally there is no loss or gain.If the total sale price of these two articles is Rs.30,000, find the difference between there cost price :

Accepted Answer

From the question 10 % x = 15% of y ...(i) x+y = 30000 ...(ii) from eq. (i) x / y = 3/2 ...(iii) by solving eq. (ii) & (iii) x = 18000, y = 12000 Hence, the difference =6000

Question 18

A milkman purchase the milk at Rs. x per litre and sells it at Rs. 2x per litre still he mixes 2 litres water with every 6 litres of pure milk. What is the profit percentage?

Accepted Answer

Let the cost price of 1 litre pure milk be Rs. 1, then for 6 litres (milk) CP = Rs. 6 for 2 litres (Water) CP = Rs. 0 and for 8 litres mixture SP = 8 x 2 = Rs.16 Profit = [(16-6) / 6] x 100 = 1000 / 6 = 166.66 %

Question 19

What is percentage profit in selling an article at a discount of 20% which was earlier being sold at a 40% profit?

Accepted Answer

Initially : CP =100 SP = 140 (Since profit = 40 %) New price : CP =100 SP = 140 - 20% = 112 MP = 140 Profit % = [(112 - 100 )/100] = 12 %

Question 20

The ratio of cost price and marked price of an article is 2:3 and ratio of percentage profit and percentage discount is 3 : 2 what is the discount percentage?

Accepted Answer

CP : MP = 2y : 3y profit = y (%) profit : (%) discount =3 : 2 Let CP=200, SP=300 So [ (3y / 100) x 200 ] + [(2y/100) x 300] = 100 y= 8.33 % Discount 2y = 16.66 %

Profit and Loss Questions