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Home Aptitude Profit and Loss See What Others Are Saying!
  • Question
  • 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 increased by 20% and rest other expenditure of cost remain constant. The industry thus decide to increase the selling price by 10%. Find the new profit percent ?


  • Options
  • A. 18%
  • B. 20%
  • C. 22%
  • D. 24%

  • Correct Answer
  • 20% 

    Explanation

    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%

  • Tags: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO

    More questions

    • 1. 
      A person sold an article for ? 3600 and got a profit of 20%. Had he sold the article for ? 3150, how much profit would he have got?

    • Options
    • A. 4%
    • B. 5%
    • C. 6%
    • D. 10%
    • Discuss
    • 2. 
      Two lots of onions with equal quantity, one costing ? 10 per kg and the other costing ? 15 per kg, are mixed together and whole lot is sold at ? 15 per kg. What is the profit or loss?

    • Options
    • A. 10% loss
    • B. 10% profit
    • C. 20% profit
    • D. 20% loss
    • Discuss
    • 3. 
      By selling 32 orange for ? 30 a man loses 25%. How many oranges should be sold for ? 24 so as to gain 20% in the transaction?

    • Options
    • A. 16
    • B. 24
    • C. 32
    • D. 28
    • Discuss
    • 4. 
      Kamlesh purchased 120 reams of paper at ? 100 per ream and the expenditure on transport was ? 480. He had to pay an octroi duty of 50 paise per ream and the coolie charges were ? 60. What should he charge per ream to gain 40%?

    • Options
    • A. ?155
    • B. ? 147
    • C. ? 138
    • D. ? 165
    • Discuss
    • 5. 
      A dishonest dealer sells his goods at 10% loss on cost price and uses 30% less weight. What is his profit or loss per cent?

    • Options
    • A. 284/7 % loss
    • B. 283/7 % gain
    • C. 283/7 % loss
    • D. 284/7 % gain
    • Discuss
    • 6. 
      A man sold two houses for ? 96000 each. In the sale of the first house, he incurred 20% profit and in the sale of the second, he incurred 20% loss. what is the gain or loss percentage in total?

    • Options
    • A. 6% gain
    • B. 6% loss
    • C. 4% gain
    • D. 4% loss
    • Discuss
    • 7. 
      A man sold two watches, each for ? 495. If he gained 10% on one watch and suffered a loss of 10% on the other, then what is the loss of gain percentage in the transaction?

    • Options
    • A. 1 % gain
    • B. 1% loss
    • C. 100/99% loss
    • D. Neither gain nor loss
    • Discuss
    • 8. 
      A person sold an article for ? 136 and got 15% loss, had he sold it for ? N, he would have got a profit of 15%. Which one of the following is correct?

    • Options
    • A. 190 < N < 200
    • B. 180 < N < 190
    • C. 170 < N < 180
    • D. 160 < N < 170
    • Discuss
    • 9. 
      A Seller uses 920g in place of one kg to sell his goods. When he sells his article at 15% gain on cost price, the actual percentage of profit is?

    • Options
    • A. 20%
    • B. 15%
    • C. 25%
    • D. 30%
    • Discuss
    • 10. 
      A shopkeeper sells transistors at 15% above its cost price. If he had bought it at 5% more than what he paid for it and sold it for ? 6 more, he would have gained 10%. The cost price of the transistor is?

    • Options
    • A. ? 800
    • B. ? 1000
    • C. ? 1200
    • D. ? 1400
    • Discuss


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