Profit and Loss problems
- 1. 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 sells at CP?
Options- A. 22 2/2 %
- B. 22 2/9%
- C. 20 %
- D. 21 % Discuss
Correct Answer: 22 2/9%
Explanation:
Amount purchased = 1100 g
Amount sold = 900 g
Profit % = (200 / 900) X 100
= 22 2/9%
- 2. 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?
Options- A. 72%
- B. 120%
- C. 80%
- D. none of these Discuss
Correct Answer: 80%
Explanation:
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.
- 3. 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?
Options- A. Rs. 10 per kg
- B. Rs. 8 per kg
- C. Rs. 6 per kg
- D. Rs. 5 per kg Discuss
Correct Answer: Rs. 10 per kg
Explanation:
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
- 4. 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?
Options- A. Re. 1
- B. Re. 1.33
- C. Re. 1.5
- D. Re. 1.6 Discuss
Correct Answer: Re. 1.33
Explanation:
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
- 5. 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. At what price should be sell the house to earn a profit of 25%?
Options- A. Rs. 9 lakh
- B. Rs. 7.99 lakh
- C. Rs. 7.92 lakh
- D. none of these Discuss
Correct Answer: Rs. 7.92 lakh
Explanation:
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
- 6. 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?
Options- A. 30%
- B. 12%
- C. 16.66%
- D. none of these Discuss
Correct Answer: 16.66%
Explanation:
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)
- 7. 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 increased selling price?
Options- A. 240
- B. 360
- C. 420
- D. 600 Discuss
Correct Answer: 420
Explanation:
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
- 8. 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?
Options- A. 40%
- B. 8%
- C. 25%
- D. 16.66% Discuss
Correct Answer: 8%
Explanation:
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%
- 9. 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 Shoppe Hazratganz. What is the amount that Ms. Agrawal has less than the required amount to purchase it at universal soppe Bhootnath?
Options- A. Rs. 70
- B. Rs. 50
- C. Rs. 100
- D. data insufficient Discuss
Correct Answer: Rs. 50
Explanation:
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.
- 10. 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?
Options- A. 20 %
- B. 16.66 %
- C. 25 %
- D. data insufficient Discuss
Correct Answer: 16.66 %
Explanation:
Selling price(SP) = 280.
Cost price (CP) = SP - 142/7% = 240.
Actual profit (%) = (40 / 240) x 100 = 16.66%
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