Profit and Loss problems
- 1. A fruitseller buys lemons at 2 for a rupee and sells them at five for three rupees. His gain per cent is?
Options- A. 10%
- B. 15%
- C. 20%
- D. None of these Discuss
Correct Answer: 20%
Explanation:
Suppose he buys 10 lemons
? C.P. = Rs. 10/2 = Rs. 5,
? S.P. = Rs. (3/5 x 10)% = Rs. 6
? Gain % = (1/5) x 100% = 20%
- 2. If I purchased 11 books for Rs. 10 and sold all the books at the rate of 10 books for Rs. 11, the profit per cent is?
Options- A. 10%
- B. 11%
- C. 21%
- D. 100% Discuss
Correct Answer: 21%
Explanation:
Suppose I purchased 110 books
? C.P. = Rs. (10/11) x 110 = Rs. 100
? S.P. = Rs. (11/10) x 110 = Rs. 121
? Gain % = 21%
- 3. By selling an articles for Rs. 144, a man loses 1 / 7 of his outlay. By selling it for Rs. 168, his gain or loss percent is?
Options- A. 20% loss
- B. 20% gain
- C. 41/ 6 % gain
- D. None of the these Discuss
Correct Answer: None of the these
Explanation:
Let C.P. = Rs. P
S.P. = (C.P.) - (Loos) = P - P/7 = Rs. 6P/7
? 6P / 7 = 144
? P = (144 x 7) / 6 = Rs. 168
Hence, no Loss and no gain.
- 4. A shopkeeper bought 150 calculators at the rate of Rs. 250 per calculator. he spent Rs. 2500 on transportation and packing. If the marked price of calculator is Rs. 320 per calculator and the shopkeeper gives a discount of 5% on the marked price then what will be the percentage profit gained by the shopkeeper?
Options- A. 20%
- B. 14%
- C. 15%
- D. 16% Discuss
Correct Answer: 14%
Explanation:
C.P. of 150 calculators = 150 x 250 = Rs. 37500
? Total C.P. = 37500 + 2500 = Rs. 40000
Marked price of 150 calculator = 150 x 320 = Rs. 48000
Selling price after discount = 48000 x 95 / 100 = Rs. 45600
? percentage profit = [(45600 - 40000) / 40000] x 100 = 14%
- 5. A retailer purchases a sewing machine at discount of 15% and sells it for Rs. 1955. In the bargain he makes a profit of 15%. How much is the discount which he got from the wholesale?
Options- A. Rs. 270
- B. Rs. 290
- C. Rs. 300
- D. None of these Discuss
Correct Answer: Rs. 300
Explanation:
Let the marked price be Rs. x
Discount available by the retailer = 15% of Rs. x
? C.P. of the machine by the retailer = (x - 15% of x) = Rs. 17x / 20
So, 15% of 17x / 20 = 1955 - 17x / 20
? 51x/400 + 17x/20 = 1955
or x = 2000
? Discount received by retailer = (15% of 2000) = Rs. 300
- 6. A shopkeeper earns a profit of 12% after selling a book at 10% discount on the printed prices. The ratio of the cost price and printed price of the book is?
Options- A. 45 : 56
- B. 50 : 61
- C. 99 : 125
- D. None of these Discuss
Correct Answer: 45 : 56
Explanation:
Let the printed price of the book be Rs. 100.
After a discount of 10%, S.P. = Rs. 90
Profit earned = 12%
? C.P. of the book = Rs. (100 / 112) x 90 = Rs. 1125 / 14
Hence, (C.P.) : (printed price) = (1125 / 14) : 100 = 45 : 56
- 7. By selling 12 oranges for one rupee, a man loses 20%. How many for a rupee should he sell to get gain of 20%?
Options- A. 5
- B. 8
- C. 10
- D. 15 Discuss
Correct Answer: 8
Explanation:
Suppose he buys 12 oranges. Then S.P. = Re. 1
Now, 80 : 1 : : 120 : R
? R = (1 x 120) / 80 = 3/2
? For Rs. 3/2, oranges sold = 12
For Re. 1 oranges sold = (12 x 2) / 3 = 8
So, he must sell them at 8 for a rupee.
- 8. A dishonest dealer professes to sell his goods at cost price. But he uses a false weight and thus gains 6 18/ 47 % . For a kg, he uses a weight of?
Options- A. 953 gms
- B. 940 gms
- C. 960 gms
- D. 947 gms Discuss
Correct Answer: 940 gms
Explanation:
Let the error be W gms.
Then, [W/ (1000 - W)] x 100 = 300 / 47
? W / (1000 - W) = 3 / 47
47 x W = 3000 - 3 x W
? W = 60
So, he uses a weight = (1000 - 60)gm = 940 gms for 1 kg.
- 9. Tarun bought a T.V. with 20% discount on the labelled price had he bought it with 25% discount he would have saved Rs. 500. At what price did he buy the T.V.?
Options- A. Rs. 5000
- B. Rs. 10000
- C. Rs. 12000
- D. None of these Discuss
Correct Answer: None of these
Explanation:
Let S.P. of T.V. (by trader) = Rs. 100
If S.P. is Rs. 80, then M.P. = Rs. 100
If S.P. is Rs. 100, M.P. = Rs. (100 / 80) x 100 = Rs. 125
Now, if discount is 25% then, S.P. = (75% of Rs. 125) = Rs. 375/4
Difference between two S.P. = Rs. (100 - 375/4) = Rs. 25 / 4
If difference is Rs. 25/4, S.P. = Rs. 100
If difference is Rs. 500, S.P. = Rs.(100 x 4 ) / (25 x 500) = Rs. 8000
- 10. A sold a watch at a gain of 5% to B and B sold it to C at a gain of 4%. If C paid Rs. 91 for it, then the price paid by A is?
Options- A. Rs. 82.81
- B. Rs. 83
- C. Rs. 83.33
- D. None of these Discuss
Correct Answer: Rs. 83.33
Explanation:
Let A's C.P. = Rs. 100
B's C.P. = Rs. 105
C's C.P. = 104% of Rs. 105 = Rs. 109.20
? 109.20 : 91 = 100 : P
? P = (91 x 100) / (109.20) = Rs. 83.33
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