Profit and Loss problems
- 1. By selling 100 pens, a shopkeeper gains the selling price of 40 pens. Find his gain percent.
Options- A. 4.47%
- B. 6.67%
- C. 8.8%
- D. 5.59% Discuss
Correct Answer:
Explanation:
(SP of 100 pens) - (CP of 100 pens) = SP of 40 pens
? SP of 60 pens = CP of 100 pens.
Let CP of each pen = ? 1
Then, CP of 60 pens = ? 60
SP of 60 pens = ? 100
Gain = 100 - 60 = ? 40
? Gain % = (40/60) x 100 % = 66.67%
- 2. If the cost of price of 16 pens is equal to the selling price of 12 pens, then the gain or loss per cent is
Options- A. 331/3%
- B. 25% gain
- C. 25% loss
- D. 331/3% loss Discuss
Correct Answer: 331/3%
Explanation:
Here, a = 16, b = 12
According to the formula,
Required gain percent = [(a - b)/b] x 100
= [(16 - 12)/12] x 100
= (4/12) x 100
= 331/3% (gain)
- 3. A dishonest dealer sells his goods at 10% loss on cost price but uses 20% less weight. What is his profit or loss per cent?
Options- A. 12% loss
- B. 22.5% gain
- C. 13.9% loss
- D. 12.5% gain Discuss
Correct Answer: 12.5% gain
Explanation:
Here, a = 10% and b = 20%
According to the formula,
Required answer= [b ± a/(100 - b)] x 100 %
= (20 - 10)/(100 - 20 ) x 100%
= (10/80) x 100% = 12.5 % gain
+ ve sign show that profit is earned here.
- 4. A trader sells wheat at 20% profit and uses weight 20% less than the actual measure. His gain per cent is?
Options- A. 35%
- B. 38%
- C. 48%
- D. 50% Discuss
Correct Answer: 50%
Explanation:
Let the market weight = 1 kg = 1000 g
Real weight = 80% of 1000 = 800 g
Let the CP of 1 g = ? 1
? CP of 800 g = ? 800,
CP of 1000 g = ? 1000
SP = 120% of 1000 = (120/100) x 1000 = ? 1200
Gain = 1200 - 800 = ? 400
? Gain % = (400/800) x 100% = 50%
- 5. A dishonest dealer sells his goods at 10% loss on cost price and uses 30% less weight. What is his profit or loss per cent?
Options- A. 284/7 % loss
- B. 283/7 % gain
- C. 283/7 % loss
- D. 284/7 % gain Discuss
Correct Answer: 284/7 % gain
Explanation:
Given that, a = 10% and b = 30%
According to the formula,
Required per cent = [(b - a)/(100 - b)] x 100
= [(30 - 10)/(100 - 30)] x 100
= (20/70) x 100 = 200/7%
= 284/7% profit
- 6. A dishonest dealer professes to sell his goods at cost price but he uses a weight of 920 g for 1 kg weight. Find his gain per cent
Options- A. 716/23 %
- B. 816/23 %
- C. 516/23 %
- D. 316/23 % Discuss
Correct Answer: 816/23 %
Explanation:
According to the formula,
Gain% = [Error / (True value - Error)] x 100%
= [80/(100 - 80)] x 100%
= (80/920) x 100%
= 816/23 %
- 7. A dealer sells goods at 4% loss on cost price but he uses 28 g instead of 32 g. What is his per cent profit or loss?
Options- A. 95/7 % gain
- B. 143/7 % loss
- C. 163/7 % gain
- D. 163/7 % loss Discuss
Correct Answer: 95/7 % gain
Explanation:
Given that, a = 4%, b = 28 g and c = 32 g
Required profit = [(100 - a) x (c/b) -100] %
=[(100 - 4) x (32/28) - 100] %
= [96 x (32/28) - 100]%
= [(96 x 8)/7 - 100]%
= (768 - 700)/7 %
= 68/7 %
= 95/7 % gain
+ ve sign shows that profit is earned here.
- 8. If the cost price of 20 articles is equal to the selling price of 15 articles, find the profit per cent.
Options- A. 331/2 %
- B. 331/3 %
- C. 331/5 %
- D. 331/7 % Discuss
Correct Answer: 331/3 %
Explanation:
Given that, a = 20 and b = 15
According to the formula,
Profit %= [(a - b) / b] x 100 %
= (5/15) x 100% = 100/3 %
= 331/3%
- 9. A furniture seller sells two tables ? 1500 each. He earned a profit of 20% on one table and suffered a loss of 20% on the another table. Net profit or loss in this deal is
Options- A. 4% loss
- B. 4% profit
- C. Neither profit nor loss
- D. 10% loss Discuss
Correct Answer: 4% loss
Explanation:
Required loss = (a/10)2%
= (20/10)2% = 4%
Thus, seller gets 4% loss in the deal.
- 10. If an article is sold at a gain of 6% instead of at loss of 6%, then the seller gets ? 6 more. The cost price of the article is
Options- A. ? 106
- B. ? 50
- C. ? 94
- D. ? 100 Discuss
Correct Answer: ? 50
Explanation:
Let CP of the article be ? N,
Then 106% of N - 94% of N = 6
? 12% of N = 6
? N = (6 x 100)/12 = ? 50
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