Question 1

Mr. X sold two properties P1 and P2 for Rs 1,00,000 each. He sold property P1 for 20% less than what he paid for it. What is the percentage of profit of property P2, so that he is not in gain or loss on the sale of two properties?

Accepted Answer

Let 'A' be the cost price of property P1. Then from the given data, the selling price of P1 = Rs. 1,00,000 He got 20% loss on selling P1 ⇒ A - 20 A 100 = 100000 ⇒ A = 1 , 25 , 000 Therefore, the amount he lossed on selling P1 = 25,000 As ge he got no loss or gain on sale of P1 and P2, the gain on selling P2 = 25,000 But the selling price of P2 = 1,00,000 => Cost price of P2 = 75,000 Hence, the profit percentage on P2 = Gain CP x 100 = 25000 75000 x 100 = 100 3 = 33 . 33 %

Question 2

A trader marked the price of the T.V. 30% above the cost price of the T.V. and gave the purchaser 10% discount on the marked price, thereby gaining Rs.340. Find the cost price of the T.V ?

Accepted Answer

Let 'x' be the cost price. Now Marked price = x + 30x/100 = 13x/10 10% discount = 10/100 x 13x/10 = 13x/100 Selling price = 13x/10 - 13x/100 = 117x/100 Given gain = 340 Here gain = 117x/100 - x = 17x/100 = 340 => x = Rs. 2000.

Question 3

A shop keeper sells an article at a loss of 8%, but when he increases the selling price of the article by Rs. 164 he earns a profit of 2.25% on the cost price. If he sells the same article at Rs. 1760, what is his profit percentage?

Accepted Answer

According to the given data, Let Cost price of the article be 'cp' Then, 102.25 cp - 92 cp = 164 x 100 10.25 cp = 16400 cp = 1600 Now, if he sells at Rs. 1760 Profit = 1760 - 1600 = 160 Profit% = 160/1600 x 100 = 10%.

Question 4

If books bought at prices ranging from Rs 200 to Rs 350 are sold at prices ranging from Rs 300 to Rs 425, what is the greatest possibleprofit that might be made in selling eight books.

Accepted Answer

least cost price = 200*8 = 1600 greatest sold price = 425 * 8 = 3400 profit required = 3400- 1600 = 1800

Question 5

The market price of an article was 40% more than its cost price. Rana was going to sell it at market price to a customer, but he showed Rana some defects in the article, due to which Rana gave him a discount of 28.57%. Next day he came again and sho…

Accepted Answer

Let the cost price be Rs. 100 Then, market price is Rs. 140 Now, the first discount is of 28.57% Rs.140 =~ Rs. 40 Hence, its selling price = 140 - 40 = Rs. 100 Now since Rana is selling at cost price, any further discount will be equal to loss percentage. The next dicount of 12.5% will be the loss percentage to Rana.

Question 6

The marked price of an article is increased by 25% and the selling price is increased by 16.66%, then the amount of profit doubles. If the original marked price be Rs. 400 which is greater than the corresponding cost price by 33.33%, what is the inc…

Accepted Answer

As given in the question, Marked price is 25% more than the Cost price. => C.P of the article = 3 4 x 400 = 300 Now, Let the original S.P of the article be Rs. P Now the new S.P = P + 16 . 666 + 13 . 333 300 x P => S.P = 7 P 6 According to the question, 7 P 6 - 300 = 2 P - 300 => 5P = 1800 => P = Rs. 360 Hence, the increased S.P = 360 x 7/6 = Rs. 420.

Question 7

Every year before the festive season, a brand store increases the price of the product by 42% and then introduce two successive discount of 10% and 11% respectively. What is percentage loss and percentage gain ?

Accepted Answer

Let CP = 100, 42 % increase => SP = 142 10 % discount in SP => ((142 x 10)/100) = 14.2 So 1st SP = (142 - 14.2) = 127.8, again 12 % discount in 1st SP ((127.8 x 11)/100) = 14.058 2nd SP = (127.8 - 14.058) = 113.742, So finally CP = 100, SP = 113.742, => gain = 13.742%.

Question 8

A supplier supplies cartridges to a news paper publishing house. He earns a profit of 25% by selling cartridges for Rs. 1540. Find the cost price of the Cartridges ?

Accepted Answer

Let Cost Price(C.P) = P gain% = {(S.P-C.P)/C.P} x 100 25 = {(1540-P)/P} x 100 25/100 = (1540-P)/P => P = 4(1540)-4P => 5P = 4(1540) => P = 1232 So, Cost Price = Rs. 1232

Question 9

While selling a router, a shopkeeper gives a discount of 15%. If he gives a discount of 20%, he earns Rs. 51 less as profit. What is the original marked price of the router?

Accepted Answer

Let the marked price of the router be Rs. P From the given data, P x 85 100 - P x 80 100 = 51 P x 5 100 = 51 ⇒ P = 5100 5 = 1020 Hence, the original marked price of the router is Rs. 1020.

Question 10

Mr. Rajan invested Rs 1,00,000 in US Stock Markets when the GBPINR rate was 75. After one year his investment appreciated by 20% in GBP terms. He sold of his investments and repatriated the money to India at the then existing rate of 80. what was re…

Accepted Answer

Money invested by Rajan before 1 year was = Rs. 100000 Money in UK pounds @ 75 is = 100000/75 = 1333.33 Pounds Now, after 1 year invested amount was appreciated by 20% => 20% of 1333.33 = 266.66 Total investment becomes = 1333.33 + 266.66 = 1600 Pounds This 1600 Pounds @ Indian currency at 80 = 1600 x 80 = Rs. 1,28,000 Hence, Rajan's investment of Rs. 1,00,000 becomes Rs. 1,28,000 in 1 year Therefore, his profit % = [(128000 - 100000)/100000] x 100 = 28%.

Question 11

Rishi bought 30 kg of sugar at the rate of Rs. 9 per kg and 45 kg of sugar at the rate of Rs. 10 per kg. He mixed both type of sugar and sold the mixture at the rate of Rs. 9.75 per kg. What was his gain or loss in the selling of whole sugar?

Accepted Answer

Total quantity of sugar = 45 + 30 = 75 Gain or loss can be calculated as 9.75 x 75 - (30 x 9 + 45 x 10) = 731.25 - 720 = 11.25 Hence, in the overall transaction, Rishi got Rs. 11.25 gain.

Question 12

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:

Accepted Answer

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% = P r o f i t C . P × 100 = 40 - P P × 100 Here 40 - P P × 100 = 25 -->P = 32.

Question 13

A wholesale dealer allows a discount of 20 % on the marked price to the retailer. The retailer sells at 5% below the marked price. If the customer pays Rs.19 for an article, what profit is made by the retailer on it ?

Accepted Answer

Let wholesaler dealers marked price = 100%, Retailer's C.P = 80% And the retailer sells at 5% less than the marked price => S.P = 95% If S.P of 95% of the retailer costs Rs.19 to customer,so its C.P of 80% will cost 80 x 19/95 = 16 Profit made by the retailer = 19-16 = Rs.3

Question 14

A shopkeeper sells two articles at Rs.1000 each, making a profit of 30% on the first article and a loss of 20% on the second article. Find the net profit or loss that he makes ?

Accepted Answer

SP of first article = 1000 Profit = 30% CP = (SP)x[100/(100+P)] = 10000/13 SP of second article = 1000 Loss = 20% CP = (SP)x[100/(100-L)] = 5000/4 = 1250 Total SP = 2000 Total CP = 10000/13 + 1250 = 2019.23 CP is more than SP, he makes a loss. Loss = CP-SP = 2019.23 - 2000 = 19.23 Loss Percent = [(19.23)/(2019.23)]x100 = 0.95 %.

Question 15

Watson bought a book for Rs. 240 and sold to Johny at a profit of 50%. Johny wants to sell this book to Shekar so that he earns a profit of 25%. But Shekar is adamant at buying this book at a discount of 10%. What marked price should Johny quote to …

Accepted Answer

Watson bought the book for Rs. 240 and sold to Johny at a profit of 50%. S.P = C.P(1 + P%/100) => S.P for Watson = C.P for Johny = 240(1 + 50/100) = 240 x 1.5 = Rs. 360 Let Johny quoted the marked price of the book as Rs. M We know, SP = M.P(1 - Discount(%)/100) Here discount = 10% to Shekar, S.P for Johny = M(1 - 10/100) = 0.9M But Johny want to earn 25% profit, => S.P = C.P(1 + P%/100) => 0.9M = 360(1 + 25/100) => M = (360x1.25)/0.9 => M = Rs. 500 Therefore, Johny should quote Rs. 500 as the marked price of the book to get 25% profit and allowing 10% discount to Shekar.

Question 16

A guy walks into a store and steals Rs. 100 from the store without the owner's knowledge. He then buys Rs. 60 worth of goods using that Rs. 100 and the owner gies Rs. 40 in change. How much money did the owner lose?

Accepted Answer

The first lost Rs. 100, but after the thief bought Rs. 60 goods, he get that Rs. 100 back but he lost Rs. 60 value of goods and Rs. 40 in change. So, a total of 60 + 40 = 100 Rs. the owner lose.

Question 17

A man buys a trouser in Rs.1250. By reduction of 20% in the price of trouser, he can purchase a t-shirt also in the same amount that was initially paid for the trouser. Find the price of the t-shirt?

Accepted Answer

Initial amount spent on trouser by the man = Rs. 1250 Now, by the reduction of 20% in 1250, he can buy t-shirt too. => t-shirt cost = 20% of 1250 = 20 x 1250/100 = 250 Therefore, the price of the t-shirt = Rs. 250.

Question 18

A trader mixes 36 kg of rice at Rs. 20 per kg with 14 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:

Accepted Answer

C.P. of 50 kg rice = Rs. (36 x 20 + 14 x 36) = Rs. (720 + 504) = Rs.1224. S.P. of 56 kg rice = Rs. (50 x 30) = Rs.1500. Profit = 1500 - 1224 = Rs.276 Profit % = P r o f i t C . P × 100 = 276 1224 × 100 = 22.54%.

Question 19

If watches bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425. What is the greatest possible profit that might be made in selling nine watches ?

Accepted Answer

Profit would be maximum if watches are brought for Rs. 200 and sold for Rs. 425 Profit = Rs. (425 - 200) = Rs. 225 Profit of 9 watches = Rs. 225 x 9 = Rs.2,025.

Profit and Loss Questions