Profit and Loss problems
- 1. Selling price of an article is ? 2220 and the per cent profit earned is 20%. What is the cost price of the article?
Options- A. ? 1750
- B. ? 1876
- C. ? 1776
- D. ? 1850 Discuss
Correct Answer: ? 1850
Explanation:
CP = (100/120) x 2220 = ? 1850
- 2. Rajan sold an articles for ? 6000 at a loss of 25%. Find the cost price.?
Options- A. ? 7500
- B. ? 7200
- C. ? 8000
- D. ? 8500 Discuss
Correct Answer: ? 8000
Explanation:
CP = [100/(100 - Loss%) ] x SP
CP = 6000 x (100/75) = 8000
- 3. A fruit-seller buys lemons at 2 for a rupee and sells them at 5 for three rupees What is his gain per cent?
Options- A. 10%
- B. 15%
- C. 20%
- D. 25% Discuss
Correct Answer: 20%
Explanation:
Since, CP of 2 lemon is ? 1
? CP of 1 lemon is = 1/2 = ? 0.5
SP of 5 lemon is ? 3.
? SP of 1 lemon is = 3/5 = ? 0.6
? Gain percent = [(0.6 - 0.5)/0.5] x 100
= (0.1/0.5) x 100 = 20%
- 4. A dealer sold three-fourth of his articles at a gain of 24% and the remaining at the cost price. Percentage of gain in the whole transaction is?
Options- A. 15
- B. 18
- C. 24
- D. 32 Discuss
Correct Answer: 18
Explanation:
Let CP = ? 100
? SP = [75 x (124/100)] + 25
= 93 + 25 = ? 118
Clearly, gain % = 18%
- 5. The selling price of 20 articles is equal to the cost price of 22 articles. The gain percentage is
Options- A. 12%
- B. 9%
- C. 10%
- D. 11% Discuss
Correct Answer: 10%
Explanation:
Here, a = 22 and b = 20, then
? Gain% = [(a - b)/b] x 100%
= [(22 - 20)/20] x 100% =10%
- 6. If the cost price of 23 toys is equal to selling price of 20 toys. Then the gain or loss percentage is?
Options- A. 12
- B. 14
- C. 15
- D. 121/2 Discuss
Correct Answer: 12
Explanation:
Here, a = 23, b = 20
? Required percentage profit = [(a - b)/b] x 100 %
= [(23 - 20)/20] x 100% = 15%
- 7. The cost of price and selling price of an article are in the ratio of the 3 : 7. If the selling price is ? 700, then find the cost price
Options- A. ? 500
- B. ? 400
- C. ? 300
- D. ? 800 Discuss
Correct Answer: ? 300
Explanation:
Let CP = 3x and SP = 7x
According to the question,
7x = 700
? x = 100
? CP = 3x = ? = 300
- 8. Some apples are bought at 5 for ? 10 and sold at 6 for ? 15. What is the gain percent?
Options- A. 35%
- B. 45%
- C. 20%
- D. 25% Discuss
Correct Answer: 25%
Explanation:
Let number of apples bought = 5 x 6 = 30 [LCM of 5 and 6]
CP = (10/5) x 30 = ? 60
SP = (15/6) x 30 = ? 75
? Gain = SP - CP = 75 - 60 = ? 15
? Gain % = (15/60) x 100 % = 25%
- 9. The profit earned after selling an article for ? 625 is same as the loss incurred after selling the article for ? 435. The cost price of the article is
Options- A. ? 520
- B. ? 530
- C. ? 540
- D. ? 550 Discuss
Correct Answer: ? 530
Explanation:
Let CP = x
According to the question,
625 - x = x - 435
? 2x = 1060
? x = 1060/2 = ? 530
- 10. If the difference between the selling prices of an article at profit of 6% and 4% ? 3, then the cost price of the article should be?
Options- A. ? 100
- B. ? 150
- C. ? 175
- D. ? 200 Discuss
Correct Answer: ? 150
Explanation:
Let CP = N
According to the question
(106N/100) - (104N/100) = 3
? 2N/100 = 3
? N = 300/2
= ? 150
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