Profit and Loss problems
- 1. A man sold two houses for ? 96000 each. In the sale of the first house, he incurred 20% profit and in the sale of the second, he incurred 20% loss. what is the gain or loss percentage in total?
Options- A. 6% gain
- B. 6% loss
- C. 4% gain
- D. 4% loss Discuss
Correct Answer: 4% loss
Explanation:
Here, a = 20%
? Total loss percentage = a2/100 %
= (20 x 20)/100
= 4%
- 2. A sold a watch to B at 40% gain and B sold it to C at a loss of 20%. if C bought the watch for ? 432, at what price did A purchase it?
Options- A. ? 385.71
- B. ? 216
- C. ? 250
- D. ? 550 Discuss
Correct Answer: ? 385.71
Explanation:
Let A purchased the watch for ? N
A x [(1+ r1) /100] x [(1+ r2) /100] = CP of article given by C
? N x (140/100) x (80/100) = 432
? N = (432 x 100)/(14 x 8) = ? 385.71
- 3. A man sold an article at loss of 20%. If he sells the article for ? 12 more, he would have gained 10%. The cost of price of the article is?
Options- A. ? 60
- B. ? 40
- C. ? 30
- D. ? 22 Discuss
Correct Answer: ? 40
Explanation:
Let the CP = N
According to the question, (110N/100) - (80N/100) = 12
? (11N/10) - (4N/5) = 12
? 11N - 8N = 120
? N = 120/3 = 40
? CP = ? 40
- 4. By selling an umbrella for ? 30, a shopkeeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% of the marked price. His gain percentage during the sale season is
Options- A. 7
- B. 7.5
- C. 8
- D. 9 Discuss
Correct Answer: 8
Explanation:
Given, selling price of an umbrella = ? 30
Profit percentage = 20%
? Cost price of an umbrella = (30 x 100)/120 = ? 25
During the clearance sale, selling price of an umbrella = (30 x 90)/100 = ? 27
? Required profit percentage = [(27 - 25)/25] x 100% = 8%
- 5. On selling an article at ? 530, the gain is 20% more than the loss incurred on selling it at ? 475. In order to gain 20% the selling price will be
Options- A. ? 900
- B. ? 600
- C. ? 700
- D. ? 500 Discuss
Correct Answer: ? 600
Explanation:
Let CP = N
Then, according to the question,
(120/100) x (N - 475) = (530 - N)
? (6/5) x (N - 475) = (530 - N)
? (6N - 2850) = (2650 - 5N)
? 11N = 5500
? N = ? 500
? Required SP = (500 x 120)/100 = ? 600
- 6. A dealer bought 80 cricket bats for ? 50 each. He sells 20 of them at a gain of 5%. What must be the gain percentage of the remaining bats, so as to get 10% gain on the whole?
Options- A. 32/11%
- B. 121/2%
- C. 112/3%
- D. ? 3350 Discuss
Correct Answer: 112/3%
Explanation:
Let required percentage profit = N%
According to the question,
10% of (80 x 50) = 5% of (20 x 50) + N% of (60 x 50)
? (80 x 50 x 10)/100 = [(20 x 50 x 5)/100] + (60 x 50 x N)/100
? 80 = 10 + 6N
? N = 70/6 = 112/3%
- 7. The price of a land passing through three hands, rises on the whole by 65%. If the first and second sellers earned 20% and 25% profit, respectively. Find the profit earned by the third seller?
Options- A. 20%
- B. 55%
- C. 10%
- D. 25% Discuss
Correct Answer: 10%
Explanation:
Required profit = (100 + 65) x (100/120) x (100/125) - 100
= 110 - 100 = 10%
- 8. A person sold a watch at a profit of 10%. If he had sold it for ? 2000 more, he would have gained 20%. Find the CP of watch?
Options- A. ? 15000
- B. ? 10000
- C. ? 20000
- D. ? 25000 Discuss
Correct Answer: ? 20000
Explanation:
Here, a = 10% , b = 20% , r = 2000
According to the formula
CP of watch = [r/(b - a)] x 100 = [2000/(20 - 10)] x 100
= (2000 x 100)/10
= ? 20000
- 9. A man sold two watches, each for ? 495. If he gained 10% on one watch and suffered a loss of 10% on the other, then what is the loss of gain percentage in the transaction?
Options- A. 1 % gain
- B. 1% loss
- C. 100/99% loss
- D. Neither gain nor loss Discuss
Correct Answer: 1% loss
Explanation:
Loss % = (a/10)2%
= (10/10)2%
= 1%
- 10. A person sold an article for ? 136 and got 15% loss, had he sold it for ? N, he would have got a profit of 15%. Which one of the following is correct?
Options- A. 190 < N < 200
- B. 180 < N < 190
- C. 170 < N < 180
- D. 160 < N < 170 Discuss
Correct Answer: 180 < N < 190
Explanation:
Cost price = (selling price x 100)/(100 - loss%)
= (136 x 100)/(100 - 15)
= (136 x 100)/85
= ? 160
Selling price (N) = 160 x (100 + 15)/100 = (160 x 115)/100
= ? 184
? Option (b) is correct because
[180 < N < 190].
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