Profit and Loss problems
- 1. A Shopkeeper purchased some books from a publication worth ? 750. Because of some reasons, he had to sell two-fifth part of the book at a loss of 15%. On which gain he should sell his rest of the books, so that he gets neither nor loss
Options- A. 10%
- B. 9%
- C. 12%
- D. 15% Discuss
Correct Answer: 10%
Explanation:
Here, A = 2/5, R = 15%
According to the formula
Gain % = AR/(1 - A)%
= [(2/5) x 15]/[1 - (2/5)]%
= (6 x 5)/3%
= 10%
- 2. A dishonest dealer sells articles at 10% loss on cost price but uses the weight of 16g instead of 18g. What is his profit or loss per cent?
Options- A. 11/4% gain
- B. 11/4% loss
- C. 31/4% loss
- D. 51/4% gain Discuss
Correct Answer: 11/4% gain
Explanation:
Given that a = 10% , b = 16g and c = 18g
= [(100 - a)c /b - 100)]%
= [(100 - 10) x 18/16 - 100]%
= [90 x 18/16 - 100]%
= [90 x 9/8 - 100]%
= 810/8 - 100 %
= (810 - 800) / 8 %
= 10/8 % = 5/4 %
=11/4% gain
- 3. A Seller uses 920g in place of one kg to sell his goods. When he sells his article at 15% gain on cost price, the actual percentage of profit is?
Options- A. 20%
- B. 15%
- C. 25%
- D. 30% Discuss
Correct Answer: 25%
Explanation:
Let cost price = ? 1000
? Actual cost price = ? 920
Selling price = (1000 x 115)/100 = ?1150
? Actual profit percentage = (1150 - 920)/(920 x 100) = 25%
- 4. A man sells rice at 10%profit and uses weight 30% less then the actual measure. His gain percent is?
Options- A. 572/8%
- B. 571/7%
- C. 572/5%
- D. 573/7% Discuss
Correct Answer: 571/7%
Explanation:
Let the marked weight = 1 kg = 1000g
Real weight = 70% of 1000 = 700g
Let CP of 1g = ? 1
? CP of 700g = ? 700
CP of 1000g = ? 1000
SP = 110% of 1000
= 110/100 x 1000 = ? 1100
Gain = 1100 - 700 = ? 400
? Gain % = (400/700) x 100%
= 571/7%
- 5. A fruit seller buys 700 oranges at the rate of ? 500 for 100 oranges and another variety of 500 oranges at the rate of ? 700 for 100 oranges and sells them at ? 84 per dozen. The profit percent is
Options- A. 20%
- B. 40%
- C. 30%
- D. 10% Discuss
Correct Answer: 20%
Explanation:
CP of 700 oranges = (500/100) x 700 = ? 3500
Total CP = 3500 + 3500 = 7000
And total number of oranges purchased = 700 + 500 = 1200
Total SP = (84/12 )x 1200 = ? 8400
? Profit percent = [(8400 - 7000)/7000]x100% = 20%
- 6. A tradesman marks his goods 30% more than the cost price. If he
allows a discount of 6 1/ 4 % then his gain per cent is?
Options- A. 233/4%
- B. 22%
- C. 217/8%
- D. None of these Discuss
Correct Answer: 217/8%
Explanation:
Let the C.P. be Rs. 100
Then, Marked price = Rs. 130
? S.P. = (933/4 % of Rs. 130)
= Rs. (375/4 x 100 x 130)
= Rs. 975/8
= Rs. 1217/8
? Required gain% = 217/8 %
- 7. A retailer increase the selling price by 25% due to which his profit percentage increases from 20% to 25%. What is the percentage increase in cost price?
Options- A. 20%
- B. 30%
- C. 25%
- D. 50% Discuss
Correct Answer: 20%
Explanation:
In beginning
Cost Price (CP) = Rs. 100
Profit % = 20
Selling Price (SP) = 120
When profit increases from 20% to 25%
Cost Price (CP) = y
Profit % = 25
Selling Price (SP) after 25% increase = 120 + 25% = Rs. 150
From question
y + 25 % profit = 150
1.25 y = 150
so y = 120
% change in cost price = [ (120 - 100) / 100 ] x 100 = 20%
- 8. The price of an article reduces to 576 after two successive discounts. The markup is 80% above the cost price of Rs. 500.What is the new profit percentage if instead of two successive discount the markup price was further increased successively two times by the same percentage?
Options- A. 259.2%
- B. 59.2%
- C. 159.2%
- D. can't be determined Discuss
Correct Answer: 159.2%
Explanation:
Cost price (CP) = 500
Selling Price (SP) = 576
Markup price (MP) = 900
Again SP = MP [( 1 - r/100)2] [r - rate of discount in %]
? 576 = 900 (1 - r/100)2
? 24/30 = (1 - r/100)
? r = 20%
Again, new SP = MP (1 + r/100)2
= 900 (1 + 20/100)2
= 1296
New, profit percentage = [(SP - CP)/CP] X 100
= [( 1296 - 500 ) / 500 ] x 100 = 159.2%
- 9. I wanted to purchase 10 chairs for the class room whose cost was Rs. 200 each. the trader offered me a discount if I were to purchase a set of 12 chairs. So I calculated that if I assume the normal price of 10 chairs then we can purchase 2 extra chairs which cost me only Rs. 80 each of two chairs at the cost price of 12 chairs after discount. What is the percentage discount?
Options- A. 6%
- B. 8%
- C. 12%
- D. 10% Discuss
Correct Answer: 10%
Explanation:
Price of 10 chairs = 10 x 200 = 2000
Price of 12 chairs (without discount)= 12 x 200 = 2400
Price of 12 chairs (with discount) = 10 x 200 + 2 x 80 = 2160
Therefore discount = 2400 - 2160 = 240
Hence discount % = (240 / 2400) x 100 = 10%
- 10. The cost of servicing of a Maruti car at Maruti care Pvt. Ltd. is Rs. 400. Manager of service center told me that for the second service within a year a customer can avail a 10% discount and further for third and forth servicing he can avail 10% discount of the previous amount paid, within a year Further if a customer gets more than 4 services within a year he has to pay just 60% of the servicing charges on these services. A customer availed 5 services from the same servicing station, What is the total percentage discount fetched by the customer?
Options- A. 19.42%
- B. 18.5%
- C. 17.6%
- D. 26% Discuss
Correct Answer: 19.42%
Explanation:
Amount paid in 1st service = 100 (suppose)
Amount paid in 2nd service = 90
Amount paid in 3rd service = 81
Amount paid in 4th service = 72.9
Amount paid in 5th service = 60
Total amount paid = 403.9
Discount = 500 - 403.9 = 96.1
Discount % = 96.1 / 500 X 100 = 19.42%
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