Question 1

The loss incurred on selling an article for Rs. 270 is as much as the profit made after selling it at 10% profit. The C.P. of the article is?

Accepted Answer

Let C.P.be Rs. x then, x - 270 = 10% of x = x / 10 ∴ x = 300

Question 2

A discount series of 10%, 20% and 40% is equal to single discount of?

Accepted Answer

Let original price = Rs. 100 Price after 1 st discount = Rs. 90 Price after 2 nd discount = Rs. (80/100) x 90 = Rs. 72 Price after 3 rd discount = Rs. (60/100) x 72 = Rs. 43.20 ∴ Single equivalent discount = (100 - 43.20) = 56.8%

Question 3

The C.P. of an article is 40% of the S.P. The per cent that the S.P. is of C.P. is?

Accepted Answer

Let S.P. = Rs. 100 Then C.P. = Rs. 40 ∴ Required percent = (100/40) x 100% = 250%

Question 4

Toffees are bought at the rate of 8 for a rupee. To gain 60% they must be sold at?

Accepted Answer

Suppose he buys 8 toffees Then, C.P. = Re. 1 Gain = 60% ∴ S.P. = Rs. (160 / 100 x 1) = Rs. 8 / 5 For Rs. 8 / 5, toffees sold = 8 For Re. 1 toffees sold = (8 x 5) / 8 = 5 So, he must sell them at 5 for a rupee

Question 5

Jimmy bought paper sheets for Rs. 7200 and spent Rs. 200 on transport paying Rs. 600 he had 330 boxes made, which he sold at Rs. 28 each. What is his profit percentage?

Accepted Answer

C.P. of 330 boxes = Rs. (7200 + 200 + 600) = Rs.8000 S.P. of 330 boxes = Rs. (330 x 28) = Rs. 9240 ∴ Gain % = (1240 / 8000) x 100 % = 15.5%

Question 6

When the price of a toy was increased by 20%, the number of toys sold was decreased by 15%. What was the effect on the sales of the shop?

Accepted Answer

Let original of each toy be Rs. 100 and number originally sold be 100. ∴ originaly sale proceeds = Rs. (100 x 100) = Rs. 10000 New sale proceeds = Rs. (120 x 85) = Rs. 10200 ∴ Increase% = (200 x 100 / 10000)% = 2%

Question 7

A dealer professing to sell at cost price uses a 900 gms weight for a kilogram. His gain percent is?

Accepted Answer

Gain% = {Error / (True value - Error)} x 100 % = (100/900) x 100) % = 111/9%

Question 8

A dealer sold two T.V. sets for Rs. 3700 each. on one he gained 10% and one other he lost 10%. The dealer's loss or gain per cent is?

Accepted Answer

Loss% = (Common gain or loss% / 10)2 = (10 / 10)2 = 1%

Question 9

A man sold two houses for Rs. 7.81 lakhs each. On one he gained 5% and on the other he lost 5%. What percent is the effect of the sale on the whole?

Accepted Answer

Loss% ( common gain or loss % / 10)2 = ( 5/10 )2 = 1/4 % = 0.25%

Question 10

Pofit after selling commodity for Rs. 425 is same as loss after selling it for Rs. 355. The cost of the commodity is?

Accepted Answer

Let C.P. = Rs. x then, 425 - x = x - 355 ⇒ 2x = 780 ∴ x = 390

Question 11

If two mixers and one T.V. cost Rs. 7000, while two T.V.s and one mixer cost Rs. 9800. The value of one T.V. is?

Accepted Answer

2 x + y = 7000 ....(i) x + 2 y = 9800 .....(ii) Solving (i) and (ii), we get, y = 4200

Question 12

The cost price of an article, which on being sold at a gain of 10% yields Rs. 6 more than when it is sold at a loss of 10% is?

Accepted Answer

10% profit - 10% loss = 6 ⇒ 20% of cost price = Rs. 6 ⇒ Cost Price = (6 x 100)/ 20 = Rs. 30.

Question 13

An umbrella marked at Rs. 80 is sold for Rs. 68. The rate of discount of?

Accepted Answer

Rate of discount = (12 / 80) x 100% = 15%

Question 14

The marked price is 10% higher than the cost price. A discount of 10% is given on the marked price. In this kind of sale, the seller?

Accepted Answer

Let the cost price be Rs. 100. So market price = 100 + 10% of 100 = 110 Selling price = 110 - 10% of 110 = 99. So, net loss = 1%

Question 15

A dealer marks his goods 20% above cost price. He then allows some discount on it and markets a profit of 8%. The rate of discount is?

Accepted Answer

Let C.P. = Rs. 100 ⇒ Marked price = Rs. 120, ⇒ S.P. = Rs. 108 ∴ Rate of discount = (12/120) x 100% = 10%

Question 16

By selling an article for Rs. 144, a man gained such that the percentage gain equal the cost price. The C.P. of the article is?

Accepted Answer

Let the cost price of article be P. So from question, Selling price = P + P% ⇒ 144 = P + (P x P)/100 ⇒ 144 x 100 = 100P + P2 ⇒ P2 + 100P - 14400 = 0 ⇒ (P - 80)(P +180) = 0 ∴ P = 80

Question 17

A man purchases an electric heater whose printed price is Rs. 160. If he received two successive discounts of 20% and 10% he paid?

Accepted Answer

Price after 1 st discount = 80% of Rs. 160 = Rs. 128 Price after 2nd discount = 90% of Rs. 128 = Rs. 115.20

Question 18

There would be 10% loss if rice is sold at Rs. 5.40 per kg. At what price per kg should it be sold to earn a profit of 20%?

Accepted Answer

Let C.P. per kg be Rs. x then, x - 10% of x = 5.40 ⇒ x = 6 ∴ Required S.P. = Rs. [6 + 20% of 6] = Rs. 7.20

Question 19

A person buys a book for ₹ 200 and sells it for ₹ 225. What will be his gain percent?

Accepted Answer

Given that, CP = ₹ 200 and SP = ₹ 225 Profit = SP - CP = 225 - 200 = ₹ 25 ∴ Gain% = [profit/CP] x 100% = (25/200) x 100% = 12.5%

Question 20

A person buys a watch for ₹ 500 and sells it for ₹ 300. Find his loss per cent.

Accepted Answer

Given that CP = ₹ 500 and SP = ₹ 300 Loss = CP - SP = 500 - 300 = ₹ 200 ∴ Loss % = (Loss/CP) x 100% = (200/500) x 100% = 40 %

Profit and Loss Questions