Question 1

The cost price of three varieties of mangoes namely M, N and O is Rs. 20/kg, Rs. 40/kg and Rs. 50/kg respectively. Find the selling price of one kg of mango in which these three varieties of mangoes are mixed in the ratio of 2 : 3 : 5 such that ther…

Accepted Answer

Total cost of all varieties of mangoes = 20 x 2 + 40 x 3 + 50 x 5 = 40 + 120 + 250 = Rs. 410 Then, cost of 1 kg mangoes = 410/10 = Rs. 41 To get 20% profit, The rate at which the mangoes should be sell = 120/100 x 41 = Rs. 49.2

Question 2

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 % = c o m m o n g a i n o r l o s s 10 2 % = (20/10)x(20/10)% = 4%

Question 3

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 ?

Accepted Answer

Let the cost price of a ball is Rs.x Given, on selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls The equation is : 17x - 720 = 5x Solving the equation we get x = 60 Therefore, cost price of a ball is Rs. 60.

Question 4

A merchant buys two articles for Rs.600. He sells one of them at a profit of 22% and the other at a loss of 8% and makes no profit or loss in the end. What is the selling price of the article that he sold at a loss ?

Accepted Answer

Let C1 be the cost price of the first article and C2 be the cost price of the second article. Let the first article be sold at a profit of 22%, while the second one be sold at a loss of 8%. We know, C1 + C2 = 600. The first article was sold at a profit of 22%. Therefore, the selling price of the first article = C1 + (22/100)C1 = 1.22C1 The second article was sold at a loss of 8%. Therefore, the selling price of the second article = C2 - (8/100)C2 = 0.92C2. The total selling price of the first and second article = 1.22C1 + 0.92C2. As the merchant did not make any profit or loss in the entire transaction, his combined selling price of article 1 and 2 is the same as the cost price of article 1 and 2. Therefore, 1.22C1 + 0.92C2 = C1+C2 = 600 As C1 + C2 = 600, C2 = 600 - C1. Substituting this in 1.22C1 + 0.92C2 = 600, we get 1.22C1 + 0.92(600 - C1) = 600 or 1.22C1 - 0.92C1 = 600 - 0.92*600 or 0.3C1 = 0.08*600 = 48 or C1 = 48/(0.3) = 160. If C1 = 160, then C2 = 600 - 160 = 440. The item that is sold at loss is article 2. The selling price of article 2 = 0.92*C2 = 0.92*440 = 404.80.

Question 5

'X' sells fruits at 21% profit. If X bought it for 9% less and sold it for Rs.29 less, he would have gained 25%. The cost price of fruits is?

Accepted Answer

Let the cost price of the fruits be 'C.P' From the given data, after analysis it can be solved as (121% of C.P) - (125% of 91% of C.P) = 29 121 100 C . P - 125 100 x 91 100 x C . P = 29 121 100 - 125 x 91 100 x 100 C . P = 29 ( 12100 - 125 x 91 ) C . P = 290000 ( 12100 - 11375 ) C . P = 290000 725 C . P = 290000 C . P = 400 Hence, the cost price of the fruits = Rs. 400.

Question 6

Buy at 30 cell at 50. What is the profit percentage?

Accepted Answer

Cost price = Rs. 30 Selling price = Rs. 50 Gain = Rs. 20 Profit % = Gain/cost price x 100 = 20/50 x 100 = 40%

Question 7

The cost price of a college bag is 240% more than the profit obtained on it selling at Rs. 1540. What is the cost price of that college bag?

Accepted Answer

Let the profit be Rs. p Then Cost price of the bag = 340p/100 = 3.4p According to question, 3.4p + p = 1540 4.4p = 1540 p = 1540/4.4 p = 350 The profit p = Rs, 350 Hence, The cost price of the bag = 3.4p = 3.4 x 350 = Rs. 1190.

Question 8

The profit earned by selling an article for Rs.753 is equal to the loss incurred when the same article is sold for Rs.455.What should be the sale price for making 50% profit ?

Accepted Answer

Let C.P =Rs. x Then as given, (753 - x ) = (x - 455) =>2x = 1208 => x = 604 There fore S.P= 150% of 604 => Rs. 150 100 × 604 = Rs.906

Question 9

John sells his laptop to Mark at a loss of 20% who subsequently sells it to Kevin at a profit of 25%. Kevin after finding some defect in the laptop, returns it to Mark but could recover only Rs.4.50 for every Rs. 5 he had paid. Find the amount of Ke…

Accepted Answer

Let’s assume John bought the laptop for Rs. 100 He then sells it to Mark at a loss of 20% => Rs. 80, Who consequently sells it to Kevin at a profit of 25% => Rs. 100 Then, Kevin sells it back to Mark for Rs. 90 (Rs.4.50 for every Rs. 5 that he had paid initially), so he suffers a loss of Rs. 10 Therefore, for Rs. 100 there is a loss of Rs. 10, Then for Rs. 1,75,000 there will be a loss of Rs. 17,500.

Question 10

If the labour cost 20% of the cost of production and raw material cost 10% of the cost of production and the price on which article is sold is 20% above the cost of production. If the price of labour is increased by 40% and the price of raw material…

Accepted Answer

Let the Cost of Production of the article = 100 Then, Labour Cost = 20 Raw Material = 10 Other Expenditure = 100 - 10 – 20 = 70 Selling Price of the article = 120 After increasing Labour and Raw material cost by 40% & 20% respectively, New Labour cost = 28 New Raw material cost = 12 New Cost of Production = 70 + 28 + 12 = 110 Then, New SP = 110% of 120 = 120 x 110/100 = 132 => New Gain = 132 - 110 = 22 => New Profit % = 22 x 100/110 = 20%

Question 11

An item is sold at a loss of 10%. Had it sold for Rs. 9 more, a profit of 25/2% would have gained. What is the cost price of the item?

Accepted Answer

Let the cost price of the item = Rs. 50 Sold at 10% loss => for Rs. 50 loss S.P = Rs. 45 From the given data, 25/2 % gain if it is sold at Rs. 9 more 56.25 - 45 = 9 => 11.25 = 9 => 22.5 = 18 => 45 = 36 => 50 = ? => C . P = 50 x 36 45 = 40 Hence, the Cost price of the item = Rs. 40.

Question 12

In an exhibition, Almond bought a painting for Rs. 20000. He later sold it to Olive for Rs. 23000. Olive sold it to Sarah for double the profit percentage that Almond earned. At what price should Sarah sell this painting to earn 8% profit ?

Accepted Answer

Almond Selling price = CP(1 + P%/100) => CP = 20000, SP = 23000 => 23000 = 20000 (1 + P/100) => P% = 100(23000/20000 - 1) = 15 Then, Olive's P% = 30% SP for Olive = CP for Sarah = 23000(1 + 30/100) = 29900 Now Sarah wants to earn profit of 8% => Sp for Sarah = 29900(1 + 8/100) = Rs. 32,292.

Question 13

A shopkeeper sold a mobile phone for Rs. 12000. Had he offered discount of 10% on the selling price, there would be a loss of 4%. What is the cost price of that Mobile phone?

Accepted Answer

Given that SP = Rs. 12000 - 10% = Rs. 10,800 Loss% = 4 We know that, C.P = 100/(100 - Loss%) x 100 => 100/100-4 x 10800 => 1080000/96 C.P = Rs. 11,250

Question 14

A merchant buys two items for Rs. 7500. One item he sells at a profit of 16% and the other item at 14% loss. In the deal, the merchant makes neither any profit nor any loss. What is the difference between the selling price of both the items?

Accepted Answer

Let the C.P of one item is Rs. P and that of other is Rs. (7500 - P) According to the data given C.P = S.P => Px(116/100) + (7500-P)x(86/100) = 7500 => 30P = 105000 => P = 3500 Required difference between selling prices = Rs. [(3500/100) x 116] - [(4000/100) x 86] = 4060-3440 = Rs. 620

Question 15

A quantity of tea is sold at Rs. 5.75 per kilogram. The total gain by selling the tea at this rate is Rs. 60. Find the quantity of tea being sold if a profit of 15% is made on the deal ?

Accepted Answer

Say total cost price of tea is x. Then total profit at a rate of 15% is = (15x/100) According to question, 15x/100 = 60 so x = 400 C.p of the tea is Rs. 400. so total selling price will be = (400+60) = Rs.460 so the quantity of the tea will be = (460/5.75) = 80kg.

Question 16

Selling price of a cellphone is increased by 20%. For this sale is decreased by 30%. Find the effect of total sales?

Accepted Answer

Let cost of each cell phone = Rs.100 & Sale = 100 phones. Money receipt = Rs.(100 x 100) = Rs.10,000 New cost per cellphone = Rs.120 and New sale = 70 phones New Money Receipt = Rs.(70 x 120) = Rs.8400 Then the effect of sales = decrease in money receipt = 1600 10000 x 100 = 16 %.

Question 17

Shamma lends Rs.40,000 to two of her friends. She gives Rs.24,000 to the first at 8% p.a. simple interest. Shamma wants to make a profit of 10% on the whole. The simple interest rate at which she should lend the remaining sum of money to the second …

Accepted Answer

The ratio of money she lended is 24000 : 16000 = 3 : 2 Let the rate of interest be R% 8% R% 10 3 : 2 R = 13%.

Question 18

Raghu earns 25% on an investment but loses 10% on another investment. If the ratio of the two investment is 3:5. What is the gain or loss on two investments taken together ?

Accepted Answer

Taking the 2 investments to be 3x and 5x respectively Total income of Raghu = (3x) x 1.25 + (5x) x 0.9 = 8.25 Therefore, Gain% = 0.25/8 x 100 = 3.125 %.

Question 19

A man sold two flats for Rs. 4.15 lakhs each. On one he gained 2% and on the other he lost 2%. What percent is the effect of the sale on the whole ?

Accepted Answer

In this type cases we always have loss only. Loss% = C o m m o n G a i n o r L o s s 10 2 = 2 10 2 = 1/25 = 0.04 %

Question 20

Cost Price of 22 articles is same as the Selling Price of 18 articles, find the profit percentage?

Accepted Answer

Let the cost price of 1 article = Rs. 1 From the given data, Then, the selling price of 1 article = 22/18 = 11/9 Then, Profit = SP - CP = 11/9 - 1 = 2/9 Required, profit % = Profit/CP x 100 = [(2/9)/1] x 100 = 200/9 = 22.222%.

Profit and Loss Questions