Profit and Loss problems
- 1. A man sold an article for ? 322, gaining 1/6th of his outlay. Find the cost price of the article?
Options- A. ? 300
- B. ? 376
- C. ? 175
- D. ? 276 Discuss
Correct Answer: ? 276
Explanation:
Let CP = N, then gain = N/6
According to the question,
N + N/6 = 322
? 7N/6 = 322
? N = 322 x 6/7 = ? 276
- 2. The cost price of an item is two third of the selling price. What is the gain of loss per cent on that item?
Options- A. 45
- B. 50
- C. 35
- D. 54 Discuss
Correct Answer: 50
Explanation:
let SP = N, then CP = 2N/3
Gain = (N - 2N/3) = N/3
&ther4; Gain % = [(N/3) / (2N/3)] x 100%
= (N/3) x (3/2N) x 100% = 50%
- 3. The difference between the CP and SP of the article is ? 240. If the profit is 20%, the selling price is?
Options- A. ?1440
- B. ? 1400
- C. ? 1240
- D. ? 1200 Discuss
Correct Answer: ?1440
Explanation:
Given, gain% = 20
Different between SP and CP = 240
Now, gain% = [(SP - CP)/ CP] x 100
? 20 = [240/CP] x 100
? CP = 240 x 5
? CP = 1200
? SP = 1200 + 240 [? SP - CP = 240]
= 1440
- 4. Punkaj purchased an item for ? 7500 and sold it at the gain of 24%. Find the amount he purchased another item and sold it at the loss of 20%. What is his over all gain/ loss?
Options- A. Loss of ? 140
- B. Gain of ? 60
- C. Loss of ? 60
- D. Neither gain nor loss Discuss
Correct Answer: Loss of ? 60
Explanation:
CP1 =? 7500
? SP1 = (7500 x 124)/100 = ? 9300 = CP2
SP2 = (9300 x 80)/100= ? 7440
? CP1 > SP1
Hence, loss is incurred in this transaction
? Require loss = (CP1 - SP2)
= 7500 - 7440
= ? 60
- 5. Sumit purchased an item for ? 4000 and sold it at the gain% of 35%. From that amount, he purchased another item and sold it at the loss of 20%. What is his over all gain/loss?
Options- A. loss of ? 340
- B. Gain of ? 320
- C. Loss of ? 360
- D. Neither gain nor loss Discuss
Correct Answer: Gain of ? 320
Explanation:
CP1 = ? 4000
SP1 = 4000 x 135/100 = ? 5400 CP2
SP2 = 5400 x 80/100 = ? 4320
CP1 < SP2
Hence, profit earned here.
? Required gain = ( SP2 - CP1)
= 4320 - 4000 = ? 320
- 6. A man perchases certain number of toffees at 6 per rupee. and the same number of toffees at 7 per rupee. He mixed the toffs and sells them at 6 per rupee. What is his gain or loss percent?
Options- A. 69/13 % loss
- B. 79/13% gain
- C. 76/13 % loss
- D. 75/13 gain Discuss
Correct Answer: 79/13% gain
Explanation:
CP of 1 toffee for 1st rate = 1/6
CP of 1 toffee for 2nd rate = 1/7
CP of 2 toffee after mixing = 1/6 + 1/7 = 13/42
CP of 1 toffee after mixing = 13/84
SP of 1 toffee after mixing = 1/6
Gain = 1/6 - 13/84 = 1/84
Gain% = [(1/84) / (13/84)] x 100% = 100/13% = 79/13%
- 7. Raj sold an item for ? 6384 and incurred a loss of 30%. At what price should he have sold the item to have gained a profit of 30%
Options- A. ? 14656
- B. ? 11856
- C. ? 13544
- D. cannot be determind Discuss
Correct Answer: ? 11856
Explanation:
CP = 100/70 = x 6384 = ? 9120
To gain 30%, SP = 130% of 9120
SP = (130/100) x 9120 = ? 11856
- 8. Niraj incurred a loss of 55% on selling an article for ? 9549. What was the cost price of the article?
Options- A. ? 27700
- B. ? 25600
- C. ? 21220
- D. ? 29000 Discuss
Correct Answer: ? 21220
Explanation:
Let cost price of article is CP.
According to the formula,
CP = [SP/(100 - Loss %)] x 100
CP = [(100 x 9549)/(100 - 55)]
= ? 21220
- 9. Find the percentage loss when the cost price and selling price of an article are in the ratio of 5 : 3.?
Options- A. 40%
- B. 35%
- C. 45%
- D. 26% Discuss
Correct Answer: 40%
Explanation:
Let CP = 5N and SP = 3N
Loss = (CP- SP) = (5N - 3N) = 2N
Loss % = (2N / 5N) x 100 %
= 40%
- 10. A shopkeeper sells eggs at 20 for a rupee gaining 30%. How many eggs did he buy for a rupee?
Options- A. 40
- B. 30
- C. 35
- D. 26 Discuss
Correct Answer: 26
Explanation:
SP of 20 eggs = ? 1 and gain = 30%
CP of 20 eggs = (1 x 100)/130 = ? 10/13
Now, ? 10/13 yields 20 eggs.
? ? 1 will yield (20 x 13)/10 = 26 eggs
Clearly, 26 eggs were bought for ? 1.
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