Profit and Loss problems
- 1. Anna sold his car Boney at a profit of 20% and Boney sold it to Chakori at a profit of 10%. Chakori sold it to mechanic at a loss of 9.09%.Mechanic spent 10% of his purchasing price and then sold it at a profit of 8.33% to Anna once again. what is the loss of Anna?
Options- A. 23%
- B. 29%
- C. 50%
- D. 40% Discuss
Correct Answer: 23%
Explanation:
Anna:
CP = 100
SP = 120
Boney:
CP = 120
SP = 132
Chakori:
CP = 132
SP = 120
Mechanic:
CP = 120 + 12 = 132
SP = 143
Loss of Anna = 143 - 20 = 23
% loss of Anna = (23 / 100) x 100 = 23%
- 2. I asked the shopkeeper the price of a wristwatch. I found that I had just the required sum of money. When the shopkeeper allowed me a discount of 25%, I could bought another watch worth Rs. 940 for my younger sister. What is the price Which I have paid for my own watch?
Options- A. Rs. 2700
- B. Rs.1800
- C. Rs. 2820
- D. Rs. 3760 Discuss
Correct Answer: Rs. 2820
Explanation:
If I had Rs. 100
Discount = 25 = cost of my sister's watch
The cost of my own watch = 75
Thus the ratio of cost of my own watch to that of my sister's watch = 3 : 1
So the cost of my own watch = 3 x 940 = 2820
- 3. A and B are two partners and they have invested Rs. 54,000 and Rs. 90,000 in business. After one year A received Rs 1800 as his share of profit out of total profit of Rs. 3600 including his certain commission on total profit since he is a working partner and rest profit is received by B. what is the commission of A as a percentage of the total profit?
Options- A. 20%
- B. 10%
- C. 5%
- D. 25% Discuss
Correct Answer: 20%
Explanation:
Ratio of profit of A : B (excluding commission of A) = 3 : 5 ( 54 : 90)
Now the share of profit of B = 3600 - 1800 = Rs. 1800
So the share of profit A (excluding commission ) = Rs. 1080
So the commission of A = 1800 - 1080 = 720
Therefore the required percentage = (720 / 3600) x 100 = 20%
- 4. A trader sells goods to a customer at a profit of k% over the cost price, besides it he cheats his customer by giving 880 g only instead of 1 kg. Thus his overall profit percentage is 25%. Find the value of k?
Options- A. 8.33%
- B. 8.25%
- C. 10%
- D. 12.5% Discuss
Correct Answer: 10%
Explanation:
Profit % = 25 / 100
= 120 + k (profit) / 880 (sale)
? k = 100
Therefore, net profit % = (100 / 1000) X 100 = 10%
- 5. In an office the number of employees reduces in the ratio of 3 : 2 and the wages increases in the ratio of 20 : 27, What is the profit percentage of employees over the previous wages?
Options- A. 10%
- B. 9.09%
- C. 11.11%
- D. none of these Discuss
Correct Answer: 10%
Explanation:
Let the number of employees in beginning = 3a
Let the wage per employee = 20b
Total wages = no. of employees x wage per employee.
= 3a x 20b
= 60ab
Let the number of employees in the end= 2a
Let the wage per employee = 27b
Total wages = no. of employees x wage per employee.
= 2a x 27b
= 54ab
Profit (%) = [ ( 60 - 54 ) / 60 ] x 100 = 10%
- 6. Ajay bought a motor cycle for Rs. 50,000. 2 years later he sold it to Bijoy spent 5% of the purchasing price on its maintenance. Later Bijoy displayed the sale price of his motorcycle Rs. 50,000. Chetan wanted to purchase it at 15% discount but Bijoy gave him two successive discounts of 10% and 5% instead of 15% in one time.What is the actual discount availed by chetan?
Options- A. 15%
- B. 15.5%
- C. 14.5%
- D. none of these Discuss
Correct Answer: 14.5%
Explanation:
MP = 100
Price after first discount = 90.
Price after second discount = 85.5
So, the net discount = 100 - 85.5 = 14.5%
- 7. The cost price of an article is C and the selling price of the same article is S, where Z is the profit or loss percentage. If the CP and SP both are increased by same amount then which of the following is true :
Options- A. Z increases
- B. Z decreases
- C. remains constant
- D. none of these Discuss
Correct Answer: Z decreases
Explanation:
The profit = SP - CP
If SP and CP both increase at same amount then the profit would be same.
As we know profit % (Z) = Actual profit / CP
So if CP increases the profit % (Z) will go down as there is no change in actual profit.
- 8. The selling price of 12 articles is equal to the cost price of 15 articles. The gain per cent is?
Options- A. 62/3
- B. 20%
- C. 25%
- D. 80% Discuss
Correct Answer: 25%
Explanation:
Let C.P. of each article = Re. 1
Then, C.P. of 12 articles = Rs.12
S.P. of 12 articles = C.P. of 15 articles = Rs. 15
? Gain% = (3/12) x 100% = 25%
- 9. An article when sold for Rs. 200 fetches 25 percent profit. What would be the percentage profit / loss if 6 such articles are sold for Rs. 1056?
Options- A. 10 per cent loss
- B. 10 per cent profit
- C. 5 per cent loss
- D. 5 per cent profit Discuss
Correct Answer: 10 per cent profit
Explanation:
? C.P. of 1 article = (200/125) x 100 = Rs. 160
? C.P.of 6 articles = 6 x 160 = 960
? profit = 1056 - 960 = 96
percentage profit = (96/960) x 100 = 10%
- 10. Two chair and three table cost Rs.1025 and three chairs and two tables cost Rs. 1100. What is the difference between the cost of one table and that of one chair?
Options- A. Rs. 75
- B. Rs. 35
- C. Cannot be determined
- D. 125 Discuss
Correct Answer: Rs. 75
Explanation:
Let the cost of each table and chair be Rs. x and Rs. y respectively
? 2y + 3x = 1025
and 3y + 2x = 1100
Solving the above two equations, we get
x = Rs. 175 and y = Rs. 250
? Difference between the cost of one table and one chair = Rs. (250 - 175) = Rs. 75
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