Profit and Loss problems
- 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?
Options- A. ? 4665
- B. ? 4565
- C. ? 4545
- D. ? 4655 Discuss
Correct Answer:
Explanation:
Profit on one calculator
= 250[1- (100/114)] = ? 30.70
? Total amount of the profit
= 19 x 7 x 30.70
= ? 4083.10
- 2. The cost price of 24 apples is same as the selling price of 18 apples. The percentage of gain is
Options- A. 121/2%
- B. 142/3%
- C. 162/3%
- D. 331/3% Discuss
Correct Answer: 331/3%
Explanation:
Here, 6 apples are gained over 18 apple.
? Gain percent = (6/18) x 100 %
= 331/3%
- 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?
Options- A. profit of 10%
- B. less of 6 %
- C. profit of 3.33 %
- D. no profit no loss Discuss
Correct Answer: profit of 3.33 %
Explanation:
CP = 405 / 0.9 = 450
New SP = Rs. 465
Profit (%) = [465-450 / 450] X 100 = 3.33%
- 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%?
Options- A. 8722
- B. 7892
- C. 8712
- D. 8840 Discuss
Correct Answer: 8712
Explanation:
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
- 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?
Options- A. 100
- B. 200
- C. 120
- D. 2400 Discuss
Correct Answer: 200
Explanation:
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
- 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
Options- A. 10 %
- B. 11 1/9 %
- C. 12 %
- D. 12 2/9 % Discuss
Correct Answer: 11 1/9 %
Explanation:
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.
- 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 :
Options- A. 15000
- B. 20000
- C. 10000
- D. 12000 Discuss
Correct Answer: 15000
Explanation:
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
- 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?
Options- A. 5 %
- B. 45 %
- C. 50 %
- D. 30 % Discuss
Correct Answer: 50 %
Explanation:
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 %
- 9. Ragini purchases oranges at Rs. 10 per dozen and sells them at Rs. 12 for every 10 oranges. What is the profit percentage?
Options- A. 40 %
- B. 44 %
- C. 60 %
- D. 48 % Discuss
Correct Answer: 44 %
Explanation:
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 %
- 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 :
Options- A. 220
- B. 200
- C. 240
- D. 260 Discuss
Correct Answer: 200
Explanation:
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.
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