Profit and Loss problems
- 1. 6 % more is gained by selling a coat for Rs.1425 than by selling it for Rs. 1353. The cost price of the coat is?
Options- A. Rs. 1000
- B. Rs. 1250
- C. Rs. 1500
- D. Rs. 1200 Discuss
Correct Answer: Rs. 1200
Explanation:
6% of cost price (CP) = 1425 - 1353 = 72
? CP = ( 72 x 100 ) / 6 = 1200
- 2. A person sold two cows each for Rs. 9900. If he gained 10% on one and lost 20% on the other, then which of the following is true?
Options- A. He gained Rs. 200
- B. He lost Rs 200
- C. He neither gained nor lost
- D. None of the above Discuss
Correct Answer: None of the above
Explanation:
The cost price ( CP ) of profitable cow = 9900 / 1.1 = 9000
and profit = Rs. 900
The CP of loss yielding cow = 9900 / 0.8 =12375
and loss = Rs. 2475
So the net loss = 2475 - 900 = 1575
- 3. An item costing Rs. 200 is being sold at 10% loss. If the price is further reduces by 5%, the selling price will be?
Options- A. Rs. 170
- B. Rs. 171
- C. Rs. 180
- D. Rs. 181 Discuss
Correct Answer: Rs. 171
Explanation:
Selling price after 10 % loss = 200 - 10% = 180
Selling price after additional 5% loss = 180 - 5% = 171
- 4. Arun bought toffees at 6 for a rupee. How many for a rupee he should sell to gain 20%?
Options- A. 3
- B. 4
- C. 5
- D. can't be determined Discuss
Correct Answer: 5
Explanation:
You can go through options.
CP = 100 / 6 = 16.66 paisa
SP = 100 / 5 = 20 paisa
Profit (%) = [( 20 - 16.66 ) / 16.66 ] X 100
= [ 3.33 /16.66 ] X 100
= ( 1 / 5 ) X 100 = 20%
Hence, option (c) is correct.
Alternatively:
CP = 100 / 6
SP = ( 100 / 6 ) X 1.2 = 100 / 5
Hence, he should sell 5 toffees for Re. 1 (100 paisa)
- 5. Mr.Mittal purchased a car for Rs. 3,00,000 and a bike for his son for Rs. 1,00,000. He sold the car at a profit of 10% and bike at a loss of 20%. What is the net gain or loss?
Options- A. 2% gain
- B. 1.5% loss
- C. 2.5% loss
- D. 2.5% gain Discuss
Correct Answer: 2.5% gain
Explanation:
Gain = 10% of 3,00,000 = 30000
Loss = 20% of 1,00,000 = 20000
Net gain = 10000 over Rs.4 lakh
Hence, profit = 10000/400000 x 100 = 2.5%
- 6. A single discount equivalent to three successive discounts of 5% , 10% , 20% is :
Options- A. 68.4 %
- B. 35 %
- C. 31.6 %
- D. 32 % Discuss
Correct Answer: 31.6 %
Explanation:
Let the original price be 100 Rs.
So reduced price = 100 X 0.95 X 0.90 X 0.80 = 68.40
? Single discount = (100 ? 68.4) % = 31.6%
- 7. An item was sold after giving two successive discount of 20% and 10% respectively. If the item was sold for Rs. 468. The marked price of that item is :
Options- A. 600
- B. 500
- C. 575
- D. 650 Discuss
Correct Answer: 650
Explanation:
Let the price be y , then
y x 0.8 x 0.9 = 468
? x=650, therefore marked price = Rs. 650
Alternatively : 650 X 0.8 X 0.2 = 468
Hence option (d) is correct
- 8. The profit percentage on the three articles A , B and C is 10%,20% and 25% and the ratio of the cost price is 1 : 2 : 4 . Also the ratio of number of articles sold of A , B and C is 2 : 5 : 2 then the overall profit percentage is :
Options- A. 18.5 %
- B. 21 %
- C. 75 %
- D. none of these Discuss
Correct Answer: 21 %
Explanation:
CP of A + B + c = 2xy + 5x*2y - 2x*4y = 20xy
profit of A = 0.2xy
profit of B = 2xy
profit of C = 2xy
Total profit = 4.2xy
% profit = (4.2xy / 20xy) X 100 = 21%
- 9. A shopkeeper sold 12 cameras at a profit of 20% and 8 cameras at a profit of 10%. If he had sold all the 20 cameras at a profit of 15% , then his profit would have been reduced by Rs. 36. what is the cost price of each camera?
Options- A. 100
- B. 150
- C. 180
- D. 220 Discuss
Correct Answer: 180
Explanation:
Go through option C
180 x 12 x 1.2 + 180 x 8 x 1.1 = 180 [ 14.4 + 8.8 ]
= 180 (23.2) = 4176
And 180 x 20 x 1.15 = 4140
Therefore loss = 4176 - 4140 = 36
Hence option (c) is correct
- 10. The CP of 19 articles is same as the selling price of 29 articles. what is the loss %?
Options- A. 35 %
- B. 34.48 %
- C. 52.63 %
- D. none of these Discuss
Correct Answer: 34.48 %
Explanation:
CP / SP = 29x / 19x
loss % = 29x - 19x / 29x X 100 = 34.48 %
(To understand the concept assume CP of each article Rs 29 and SP of each article = Rs. 19)
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