Question 1

A man sells calculator at the rate of ₹ 250 each which includes a profit of 14%. What amount of profit while he earn in 19 days, if he sells 7 calculator per day?

Accepted Answer

Profit on one calculator = 250[1- (100/114)] = ₹ 30.70 ∴ Total amount of the profit = 19 x 7 x 30.70 = ₹ 4083.10

Question 2

The cost price of 24 apples is same as the selling price of 18 apples. The percentage of gain is

Accepted Answer

Here, 6 apples are gained over 18 apple. ∴ Gain percent = (6/18) x 100 % = 331/3%

Question 3

By selling a wrist watch of Rs.405 the shopkeeper incurs a loss of 10%. What is the gain or loss percentage if he sells the same watch at Rs. 465?

Accepted Answer

CP = 405 / 0.9 = 450 New SP = Rs. 465 Profit (%) = [465-450 / 450] X 100 = 3.33%

Question 4

A dealer buys a washing machine. listed at Rs. 10000 and gets 10% and 20% successive discounts. He spends 10% of his CP on transport.At what price (in rupees) should he sell the washing machine to earn a profit of 10%?

Accepted Answer

Price after 10% discount = 10000 - 10 % of 10000 = 10000 - 0.1 x 10000 = 9000 Price after another 20% discount = 9000 - 20 % of 9000 = 7200 Price after 10% of transportation charges = 7200 + 7200 x 0.1 = 7920 Price after 10% of profit = 7920 + 7920 x 0.1 = 8712 ∴ Selling price = 8712

Question 5

A person loses Rs. 20 by selling some bananas at the rate of Rs. 3 per banana and gains Rs.30, if he sells them at Rs. 3.25 per banana. The number of bananas sold by him?

Accepted Answer

Go through options. Consider option (b) 200 x 3.25 - 200 x 3 = Rs. 50 = ( 30+20 ) Hence option, (b) is correct Alternatively: Rs. 0.25 is the difference on 1 banana Rs. 1 is the difference on 1/0.25 = 4 bananas Rs. 50 is the difference on 4 x 50 = 200 bananas

Question 6

A fruit seller declares that he sells fruits at the cost price However, He use a weight of 450 g instead of 500 g. His percentage profit is

Accepted Answer

Profit (%) = goods lefts / goods sold X 100 = ( 50 / 450 ) X 100 = 111/9 % Alternatively : Suppose CP of 1g is Rs.1 then he sells goods worth Rs.450 only and charges Rs.500. So the profit is Rs.50 over the sale price of Rs. 450.

Question 7

Two third of a consignment was sold at a profit of 5% and the remainder at a loss of 2%. If the total profit was Rs. 400, the value of the consignment (in rupees) was :

Accepted Answer

The best way is to go through option. Consider option (a) Total profit = 15000 x ( 2 / 3 ) x 5 % = 15000 x ( 2 / 3 ) x ( 5 / 100) = 500 Total loss = 15000 x ( 1 / 3 ) x 2 % = 5000 x ( 1 / 3 ) x ( 2 / 100) = 100 Net gain = ( 500 - 100 ) = Rs. 400 Hence: option (a) is correct. Alternatively : [( 1.05 X 2x/3 + 0.98 x/3) - x] = 400 ∴ x=15000

Question 8

A trader use a weighing balance that shows 1250 g for a kilogram. He further marks- up his cost price by 20%. what is the profit percentage?

Accepted Answer

Let the cost price of one gram be Rs. 1, then the mark up price be Rs. 1.2 per g. Now he sells 1000 g which seems to be 1250 g so he charges to a customer 1250 X 1.2 = Rs. 1500 for 1000 g (or Rs. 1000) Thus his profit % 1500 -1000 / 1000 X 100 = 50 %

Question 9

Ragini purchases oranges at Rs. 10 per dozen and sells them at Rs. 12 for every 10 oranges. What is the profit percentage?

Accepted Answer

Cost price (CP) = 10 / 12 , Selling price (SP) = 12 / 10 Profit (%) = [ (SP - CP) / CP ] x 100 ∴ Profit (%) = [( 12 / 10 - 10 / 12 ) / (10 / 12) ] X 100 = 44 %

Question 10

A merchant marks his good at Rs. 300 and allows a discount of 25%. If he still gains 12.25%, then the cost price of article is :

Accepted Answer

Let's assume the cost price be (CP) = x So selling price (SP) = 112.5x Price marked on good ( MP ) = 300 According to question MP - 25% = SP ∴ x = 200, hence the cost price be Rs. 200.

Question 11

A retailer cheats both to his whole-seller and his customer by 10% by his faulty balance i.e.,he actually weighs 10% more while purchasing from wholesaler and weighs 10% less while selling to his customer. What is his net profit percentage, when he …

Accepted Answer

Amount purchased = 1100 g Amount sold = 900 g Profit % = (200 / 900) X 100 = 22 2/9%

Question 12

A vendor sells his articles at a certain profit percentage. If he sells his articles at 1/3 of his actual selling price,then he incurs a loss of 40%. What is his actual profit percentage?

Accepted Answer

Go through options C. After 80% profit on cost price 100 = 100 + 80% = 180 New SP = 180 / 3 = 60 percentage loss = 40% (100 - 60) Hence, (c) is correct choice.

Question 13

A reduction of 20% in the price of sugar enables a housewife to purchase 6 kg more for Rs. 240. What is the original price per kg of sugar?

Accepted Answer

Reduction in price = 20% ( 1 / 5 ) Increase in amount = 25 % (1 / 4) = 6 kg It means original amount of sugar needed = 6 X 4 =24 kg ∴ Original price of the sugar = 240 / 24 = Rs. 10 per kg

Question 14

Due to reduction of 25% in price of oranges a customer can purchase 4 oranges more for Rs. 16. What is the original price of an oranges?

Accepted Answer

It is based on inverse proportion or product constancy concept. Reduction in price = 25% (1 / 4) Increase in amount = 33.33% ( 1 / 3 ) = 4 oranges ∴ Original price of oranges = 16 / 12 = Rs. 1.33

Question 15

Kamal bought a house in Sushant city, whose sale price was Rs. 8 lakh. He availed 20% discount as an early bird offer and then 10% discount due to cash payment. After that he spent 10% of the cost price in interior decoration and lawn of the house. …

Accepted Answer

Assume market price (MP) = Rs. 100 After 20% discount price = 100 - 20% = Rs. 80 After cash discount of 10% price = 80 - 10% = Rs. 72 Price after 10% spend on interior decoration = 72 + 10% = Rs. 79.2 So the cost price (CP) = Rs. 79.2 Selling price after 25 % profit = CP + 25% = 79.2 + 25% of 79.2 = 1.25 x 79.2 = 99 When initial market price is 100 rupees the selling price is 99. So for initial market price 8 Lakh the selling price = 8000000 x ( 99 / 100 ) = 7,92,000

Question 16

A retailer bought 20 kg tea at a discount of 10%. Besides 1 kg tea was freely offered to him by the wholesaler at the purchase of 20 kg tea. Now he sells all the at marked price to a customer.What is the profit percentage of retailer?

Accepted Answer

Let the MP 1 kg tea be Rs. 1, Then CP of 20 kg with discount = 20 x 0.9 = Rs.18 Also 1 kg tea is free. So the retailer gets tea worth Rs. 21 by paying Rs. 18 only. profit % = ( goods left / goods sold) x 100 = (21-18 / 18 x 100 = 16.66 % (Since the retailer earn Rs. 3 on each Rs.18)

Question 17

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 then the corresponding cost price by 33.33%, what is the inc…

Accepted Answer

Initially : CP = 100 Profit = x SP = 100 + x MP = 133.33 After change CP = 100 Profit = 2x SP = [7(100 + x)]/6 Now , since (100 + x) 7/6 - 100 = 2x ⇒ x = 20% CP = 100 Profit = 20 SP = 120 MP = 133.33 so when CP = 300 Selling price = 300 + 20% = 360. After change So when CP = 300 Selling price = 300 + 2 x 20% of 300 = 420 So the increased selling price = Rs. 420

Question 18

A balance of a trader weighs 10% less then it should be. still the trader marks-up his goods to get the overall profit of 20%. What is the mark up on the cost price?

Accepted Answer

Let the CP be Rs. 1 per g but he weighs 900 g for every 1000 g ∴ value of goods sold = 900 Now, let the markup be x% ∴ MP = 1000 + 1000x / 100 = ( 1000 + 10x ) but since MP = SP, ∴ SP = ( 1000 + 10x ) Hence, profit (%) = [{( 1000 + 10x ) - 900} / 900] x 100 = 20 ⇒ x = 8 Thus the markup = 8%

Question 19

A scientific calculator is available at Universal Shoppe in Hazratganz at 20% discount and the same is available at only 15% discount at universal shoppe Bhootnath market. Ms. Agrawal has just sufficient amount of Rs.800 to purchase it at universal …

Accepted Answer

Let markup price be y. Cost price (CP) = 20 % discount on MP = 0.8y = 800 ⇒ y= Rs.1000 MP SP at Hazratganz = Rs. 800 SP at Bhootnath = 1000 X 0.85 = 850 So, she requires Rs. 50 more to purchase the same calculator at Bhootnath.

Question 20

A person wants to reduce the trade tax so he calculates his profit on the sale price instead of on the cost price.In this way by selling a article for Rs. 280 he calculates his profit as 14 2/ 7%. What is his actual profit percentage?

Accepted Answer

Selling price(SP) = 280. Cost price (CP) = SP - 142/7% = 240. Actual profit (%) = (40 / 240) x 100 = 16.66%

Profit and Loss Questions