Profit and Loss problems
- 1. Cost price of 12 oranges is equal to the selling price of 9 oranges and the discount on 10 oranges is equal to the profit on 5 oranges. What is the percentage point difference between the profit percentage and discount percentage?
Options- A. 20
- B. 22.22
- C. 16.66
- D. 15 Discuss
Correct Answer: 22.22
Explanation:
Ratio of selling price and Cost Price,
SP:CP = 12:9 =4:3
Profit of 3 oranges = Re 1 (Let CP = Re 1)
Profit = 1/3 = 33.33%
and, Discount = 11.11%
Since, CP : SP : MP = 3:4:4.5
Profit doubles that of discount.
So, % point discount = 33.33%-11.11% = 22.22% point.
- 2. A car mechanic purchased four old cars for Rs. 1 lakh. He spent total 2 lakh in the maintenance and repairing of these four cars. What is the average sale price of the rest three cars to get 50% total profit if he has already sold one of the four cars at Rs. 1.2 lakh?
Options- A. 1.5 lakh
- B. 1.1 lakh
- C. 1.2 lakh
- D. 1.65 lakh Also asked in: AIEEE, Bank Exams, CAT, Bank Clerk, Bank PO
Correct Answer: 1.1 lakh
Explanation:
Total cost of 4 cars = 1 + 2 = 3 lakh
Total SP of 4 cars = 3 x 1.5 = 4.5 lakh
SP of first cars = 1.2 lakh
SP of rest 3 cars = 4.5 - 1.2 = 3.3 lakh
Average SP of all the 3 cars = 1.1 lakh
- 3. The cost of setting up a magazine is Rs. 2800. The cost of paper and ink etc is Rs. 80 per 100 copies and printing cost is Rs.160 per 100 copies. In the last month 2000 copies were printed but only 1500 copies could be sold at Rs. 5 each. Total 25% profit on the sale price was realized. There is one more resource of income from the magazine which is advertising. What some of money was obtained from the advertising in magazine?
Options- A. Rs. 1750
- B. Rs. 2350
- C. Rs. 1150
- D. Rs. 1975 Discuss
Correct Answer: Rs. 1975
Explanation:
Setup cost = Rs. 2800
Paper etc. = Rs. 1600
Printing cost = Rs. 3200
Total cost = Rs. 7600
Total sale price = 1500 x 5 = 7500
Let the amount obtained from advertising is "A" then
(7500 - A) - (7600) = 25% of 7500
A= 1975
- 4. BSNL charges a fixed rental of Rs. 350/month. It allows 200 calls free per month. Each call is charged at Rs.1.4 when the number of calls exceeds 200/month and it charges Rs.1.6 when the number of calls exceeds 400/month and so on. A customer made 150 calls in February and 250 calls in March. By how much percent the each call is cheaper in March then each call is February?
Options- A. 28%
- B. 25%
- C. 18.5%
- D. none of these Discuss
Correct Answer: 28%
Explanation:
Charges of 1 call in February = 350 / 150 = 7/3
Charges of 1 call in March = [350 + ( 50 x 1.4) ] / 250
= 420 / 250
= 42 / 25
% Cheapness of a call in march = [(7/3 - 42/25) / 7/3] x 100
= 28%
- 5. Tika Chand has a weighing balance in which there is a technical fault. The right pan of his balance measure always 200 g more than its left pan.Tika Chand as usual misutilise this balance in his business. While purchasing the articles he puts goods in the left pan and weight in the right pan while selling he reverse the order i.e., goods in the right pan and weight in the left pan. He use only 2 kg weight for the measurement and to measure 2n kg weight he measures n times by 2-2 kg but he sells goods at cost price. What is his profit percentage?
Options- A. 20%
- B. 222/9%
- C. 182/11%
- D. none of these Discuss
Correct Answer: 222/9%
Explanation:
Let the CP and SP of 1g = Re. 1, then
He spends Rs. 2000 and purchase 2200 g
and he charges Rs. 2000 and sells 1800 g
Profit (%) = [goods left / goods sold ] x 100
= [ 400 / 1800 ] x 100
= 22 2/9 %
- 6. Akram Miya has two types of grapes. One is the fresh grapes containing 80% water and dry grapes containing 25% water. He sells 20 kg dry grapes, by adding water to the dry grapes, at cost price. What is the total profit percentage when after adding water the weight of 20 kg dry grapes increase in the proportion of water in fresh grapes?
Options- A. 275%
- B. 200%
- C. 80%
- D. 125% Discuss
Correct Answer: 275%
Explanation:
Fresh grapes
Water: Pulp = 80% : 20% = 4 : 1
Dry grapes
Water: Pulp = 25% : 75% = 1 : 3
So out of 20 kg dry grapes, Water : Pulp = 5 kg : 15 kg
After adding of water the ratio of water : pulp is same as the fresh grapes = 4 : 1
So after adding water the quantity of Water and Pulp are 60 kg and 15 kg respectively.
Thus to make dry grapes similar to the fresh grapes, Akram requires 55 kg water with 20kg of dry grapes.
So, the profit (%) = (55 / 20) x 100 = 275 %
- 7. Pankaj and Sushil invested some amount of money in the ratio of 3 : 5 for the same period in the business.They decided that at the end of the year 20% profit was to be given to AIDS Control Society of india as a donation. Out of the remaining, 75% was to be reinvested and the rest of the profit was to be divided as interest on their capitals.If the difference in there share is Rs. 1200. Find the total profit?
Options- A. 18000
- B. 24000
- C. 20000
- D. none of these Discuss
Correct Answer: 24000
Explanation:
Let the total profit = 100
Amount left after donation = 50
Amount left after reinvestment = 20
Now, 5y/8 - 3y/8 = 1200
where y is the amount left after reinvestment
? 2x/8 = 1200
? x = 4800
? total profit = 4800 x 5 = 24000
- 8. Jagran group launched a new magazine in January 2004. The group printed 10000 copies initially for Rs. 50000. It distributed 20% of its stock freely as specimen copy and 25% of the rest magazine are sold at 25% discount and rest at 16.66% discount whose printing price was Rs.12 per copy. What is the overall gain or loss in the first month's issue of magazine, if the magazine could not realize the income from advertisements or other resources?
Options- A. 56% profit
- B. 27% loss
- C. 16.66% profit
- D. 38% profit Discuss
Correct Answer: 56% profit
Explanation:
Total cost = Rs. 50,000
Total sale price (or revenue) = (2000 x 9) + (6000 x 10) = 78,000
Profit (%) = [ 28000 / 50000 ] x 100
= 56%
- 9. Teenagers shoe company sells the shoes whose prices i.e.,cost price and selling price are the multiples of either 13,14,15,16,17,18 or 19, starting from Rs. 399 to Rs.699 (i.e, 399 <_ CP/SP <_ 699). What can be the maximum profit of the company?
Options- A. Rs. 292
- B. Rs. 398
- C. Rs. 298
- D. Rs. 300 Discuss
Correct Answer: Rs. 298
Explanation:
The maximum possible profit = maximum possible difference in SP and CP.
It means SP be maximum and CP be minimum
CP (min) = Rs. 399
19 x m = 399, where m is an integer.
Again SP (max) = Rs. 697, which is very close to 699
Here 697 = 17 k, k is a positive integer.
So, the maximum profit = 697 - 399 = Rs. 298
- 10. In the Bargain Bazar everyone purchase with a fair bargaining, so the traders markup the prices too much. A trader marked up an article at Rs. M expected huge profit if it is sold on the marked price. But a customer purchased it at M/2 with his fine bargaining skills, so the expected profit of the trader diminished by 66.66%. What is the percentage discount fetched by the customer through bargaining?
Options- A. 33.33 %
- B. 50%
- C. 66.66%
- D. none of these Discuss
Correct Answer: 50%
Explanation:
Let the CP be 100 and % mark up be k% then
MP = 100 + k
100 + k is also expected SP but actual SP = 100 + k / 2
? [(100 + k / 2)] / k = (200 / 3) x 100 (= 66.66%)
? k = 300
? CP = 100 and MP = 400
Finally SP = 400 / 2 = 200
? Discount = 200 / 400 X 100 = 50%
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