Profit and Loss problems
- 1. A man brought toffees at 6 for a rupee. How many toffees for a rupee must he sell to gain in 50%.?
Options- A. 5
- B. 2
- C. 4
- D. 6 Discuss
Correct Answer: 4
Explanation:
CP of 6 toffees = ? 1,
SP of 6 toffees = 150% of 1 = 150/100 = 3/2
? For ? 3/2, the number of toffees sold = 6
? For ? 1, the number of toffees sold = 6 x (2/3) = 4
- 2. A merchant fixed the selling price of his articles at ? 700 after adding 40% profit to the cost price. As the sale was very low at this price level, he decided to fix at the selling price at 10% profit. Find the new selling price
Options- A. ? 450
- B. ? 490
- C. ? 500
- D. ? 550 Discuss
Correct Answer: ? 550
Explanation:
Let cost price = ? N
According to the question,
N x [(100 + 40)/100] = 700,
? N = (700 x 100)/140 = 500
? New selling price = 500 x (100 + 10)/100
= 5 x 110 = 550
= ? 550
- 3. By selling a cellphone for ? 2400, a shopkeeper make a profit of 25%. Then, his profit percentage, if he had sold it for ? 2040, is
Options- A. 10%
- B. 6.25 %
- C. 6.5%
- D. 15% Discuss
Correct Answer: 6.25 %
Explanation:
SP of cellphone = ? 2400
? CP of cellphone = 2400 x [100/(100 + 25)] = ? 1920
? Required percentage profit = [(2040 - 1920)/1920] x 100
= 6.25%
- 4. Rajdeep loses 20% by selling a radio for ? 768. What percent will he gain by selling if for ? 1020?
Options- A. 7.25 %
- B. 5.25 %
- C. 6.25 %
- D. 8.25 % Discuss
Correct Answer: 6.25 %
Explanation:
SP = ? 768 and loss = 20%
? CP = (100/80) x 768 = (5/4) x 768 = ? 960
Now, CP = ? 960 and SP = ? 1020
Gain = 1020 - 960 = ? 60
? Gain% = (60/960) x 100% = 6.25%
- 5. A trader buys some goods for ? 150. If the overhead expenses be 12% of the cost price, at what price should it be sold to earn 10%?
Options- A. ? 184.80
- B. ? 185.80
- C. ? 187.8
- D. ? 188.80 Discuss
Correct Answer: ? 184.80
Explanation:
Total CP = (CP + Overhead expenses)
= 150 + 12% of 150
= 150 + (12/100) x 150 = ? 168
Given that, gain = 10%
? SP = (110/100) x 168 = ? 184.80
- 6. If a watch is sold for ? 120, there is a loss of 15%. For a profit of 2%, the watch is to be sold for
Options- A. ? 144
- B. ? 175
- C. ? 185
- D. ? 165 Discuss
Correct Answer: ? 144
Explanation:
SP = ? 120 and loss = 15%
? CP = (100/85) x 120 = 2400/17,
Gain = 2%
? Required SP = (102/100) x (2400/17) = ? 144
- 7. A person sold an article for ? 3600 and got a profit of 20%. Had he sold the article for ? 3150, how much profit would he have got?
Options- A. 4%
- B. 5%
- C. 6%
- D. 10% Discuss
Correct Answer: 5%
Explanation:
Let the cost price of the article be ? N.
Now, N + 20N/100 = 3600
? 120N/100 = 3600
? N = 3000
Now, profit percentage when the article is sold for ? 3150 = [(3150 - 3000)/3000] x 100
= (150/3000) x 100 = 5%
- 8. Meera purchased 23 bracelets at the rate of ? 160 per bracelet. At what rate per bracelet should she sell the bracelets so that profit earned is 15%?
Options- A. ? 184
- B. ? 186
- C. ? 192
- D. ? 198 Discuss
Correct Answer: ? 184
Explanation:
Cost price of one bracelet = ? 160
Profit earned = 15%
? Selling price of one bracelet
= Cost Price + Profit earned
= 160 + (160 x 15)/100
= 160 + (16 x 15)/10 = 160 + 240/10
= 160 + 24 = 184 = ? 184
Hence, Meera should sale her bracelet ? 184 per piece.
- 9. An article is sold for ? 300 at a profit of 20%. Had it been sold for ? 235, the loss percentage would have been?
Options- A. 3%
- B. 5%
- C. 6%
- D. 16% Discuss
Correct Answer: 6%
Explanation:
Let the cost price of article = ? N
Then, 120% of N = 300
? (120 x N)/100 = 300
? N = (300 x 100)/120 = ? 250
Now, SP = ? 235
Then, loss percentage = [(250 - 235)/250 ] x 100 = 6%
- 10. Neeta got profit of 10% on selling an article in ? 220. To get the profit of 30%, she should sell the article in how many rupees?
Options- A. ? 220
- B. ? 230
- C. ? 260
- D. ? 280 Discuss
Correct Answer: ? 260
Explanation:
Let cost price of an article = (220 x 100)/110 = ? 200
For getting the profit of 30%, Selling price of an article = 130% of ? 200
= (130/100) x 200 = ? 260
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