Profit and Loss problems
- 1. A dealer buys an article marked at ? 40000 with 20% and 10% off. He spends ? 1200 on its repairs and sells it for ? 30000. What is his gain or loss per cent?
Options- A. 10% gain
- B. 10% loss
- C. No gain no loss
- D. None of these Discuss
Correct Answer: No gain no loss
Explanation:
CP. = (80% of 90% of ?40000) + ?(1200)
= [(80/100) x (90/100) x 40000] + 1200
= (28800 + 1200)
= ?30000
? CP = ?30000
So, no gain no loss in the transaction.
- 2. A dishonest dealer professes to sell his goods at cost price. But he uses a false weight of 900 g per 1 kg weight. Find his gain percent?
Options- A. 111/9%
- B. 103/9%
- C. 11%
- D. 10% Discuss
Correct Answer: 111/9%
Explanation:
Gain percentage = [Error/(True value - Error)] x 100 %
= [(100/(1000 - 100)] x 100 %
= (100/900) x 100 %
= 111/9%
- 3. A shopkeeper sells wheat at a profit of 10% and uses weight which are 20% less than the actual weight. The total gain earned by him will be?
Options- A. 30%
- B. 88%
- C. 37.5%
- D. None of these Discuss
Correct Answer: 37.5%
Explanation:
Let the actual price of per kg of wheat = ? . 100
Then, selling price = 110% of 100 = ? 110
Now, shopkeeper sell 20% less than actual weight so cost price to shopkeeper will be = 80% of 100
= (80 x 100)/100
= ? 80
Hence, required profit gained by shopkeeper = [(110 - 80)/80] x 100
= (30/80) x 100
= 37.5%
- 4. What is the percentage profit made by selling an umbrella at a certain price, if by selling at 2/3rd of that price, there would be a loss of 10%?
Options- A. 25%
- B. 30%
- C. 35%
- D. None of these Discuss
Correct Answer: 35%
Explanation:
Let the selling price for the umbrella is P.
Cost price for the umbrella is Q.
Now from question
Q - 2P/3 = 10% of Q.
? P = (3/2)(Q - 10% of Q)
? P = (3/2) x (90/100) x Q
? P = 1.35 x Q.
So % profit = [(1.35 x Q - Q)/Q]x100 % = 35 % profit.
- 5. Charu purchased a dinner set at 3/10th of its selling price and sold it at 10% more than its CP. Find the gain per cent.?
Options- A. 15%
- B. 5%
- C. 9%
- D. 10% Discuss
Correct Answer: 10%
Explanation:
Let SP = ? 100
? CP = (3/10) x 100 = ? 30
New SP = (30 x 110)/100 = ? 33
Gain = 33 - 30 = ? 3
Gain % = (3/30) x 100% = 300/30 % = 10%
- 6. The owner of a furniture shop charges his customer 18% more than the CP. if a customer paid ? 10207 for a dining table, then find its original price.
Options- A. ? 9240
- B. ? 8650
- C. ? 9840
- D. ? 7670 Discuss
Correct Answer: ? 8650
Explanation:
Original CP = [100/(100 + Gain%)] x SP
= (108/118) x 10207 = ? 8650
- 7. Meena purchased two fans each at ? 1200. She sold one fan at the loss of 5% and other at the gain of 10%. Find total gain or loss per cent?
Options- A. 1.2 % loss
- B. 1.2% profit
- C. 2.5% profit
- D. 2.5% loss Discuss
Correct Answer: 2.5% profit
Explanation:
Total CP = 2 x 1200 = ? 2400
SP of 5% loss = (95/100) x 1200 = ? 1140
SP at 10% gain = (110/100) x 1200 = ? 1320
Total SP = 1140 +1320 = ? 2460
? Gain = 2460 - 2400 = ? 60
Gain % = (60/2400) x 100% = 2.5%
- 8. A woman bought eggs at ? 30 per dozen, The selling price per hundred so as to gain 12% will be (in ?)
Options- A. 280
- B. 250
- C. 300
- D. 360 Discuss
Correct Answer: 280
Explanation:
12 egg cost ? 30
Then cost price of 1 eggs = 35 x 12 = #8377; 2.5
Cost price of 100 eggs = 25 x 100 = ? 250
Now, let the SP of 100 eggs ? N.
Then [(SP - CP) / CP] x 100= profit % [(N - 250)/250] x 100 = 12
? (N - 250)/(2/5) =12
? N- 250 = (12 x 5)/2= 30
N = 250 + 30 = ? 280
- 9. A man purchases as certain number of oranges at 4 a rupee and the same number of orange at 5 a rupees. He mixes them together and sells them at 4 a rupee. What is the gain or loss percent?
Options- A. 112/9 %gain
- B. 112/9 % loss
- C. 111/9 gain
- D. 111/9 %loss Discuss
Correct Answer: 111/9 gain
Explanation:
CP of 1 orange for 1st rate = ? 1/4
CP of 1 orange for 2nd rate ? 1/5
CP of 2 orange after mixing = 1/4 + 1/5 = ? 9/20.
CP of 1 orange after mixing ? 9/20 X 2 = ? 9/40
SP Of 1 orange after mixing = ? 1/4
? Gain = 1/4 - 9/40 = ? 1/40
? Gain = (1/40 x 40/9 x 100)% = 100/9%
= 111/9%
- 10. A man gained 10% by selling an article for a certain price. If the sells it at double the price, then the profit made is?
Options- A. 120%
- B. 20%
- C. 40%
- D. 100 Discuss
Correct Answer: 120%
Explanation:
Let CP of the article be ? N
Then, SP = 110% of x = 1.1N
If SP be double i.e., 2.2N, then
Profit per cent= [(2.2N - N)/ N] x 100% = 120%
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