Profit and Loss problems
- 1. Jhun Jhunwala makes 1000 toys and incurs a cost of Rs. 1.2 for each toy. He marks-up the price in such a way that if he sells only 70% of manufactured toys he will realize 16.66% overall profit. He sells only 750 articles at the marked price since rest of the toys are found to be defective so can't be sold. What is the net profit or loss of Jhun Jhunwala?
Options- A. 14.44% loss
- B. 25% profit
- C. 33.33% profit
- D. none of these Discuss
Correct Answer: 25% profit
Explanation:
Total cost price = 1000 x 1.2 = Rs. 1200
Expected selling price = 700 x selling price per toys = 1200 X 1.1666 = 1400
? Selling price per toys = Rs. 2 per toy
Now the real selling price = 750 x 2 = Rs.1500
? Profit = Rs. 300 = (1500 - 1200)
? Profit % = ( 300 / 1200 ) x 100 = 25%
- 2. Anupam sells a painting to Bhargava at 4/5 th the rate of profit at which Bhargava sells it to Chaudhary. Further Chaudhary sells it to Dara Singh at half the rate of profit at which Anupam sold it to Bhargava. If Chaudhary earns a profit of 10% by selling it to Dara Singh for Rs. 2805. What is the cost price of painting from Bhargava?
Options- A. 1896
- B. 2040
- C. 1680
- D. 2000 Discuss
Correct Answer: 2040
Explanation:
From question, Chaudhary's profit = 10%.
So, Anupam's profit = 20%
Bhargava profit = 25%
Now Let cost price for Anupam = Rs. 100
So cost price for Bhargava = 120
Cost price for Chaudhary = 150
Cost price for Dara Singh = 165
Since the cost price for Dara singh is 2805 which is 17 times of 165. So the cost price for Bhargava is 120 x 17 = Rs. 2040.
- 3. Rotomac produces very fine quality of writing pens. Company knows that on average 10% of the produced pens are always defective so are rejected before packing. Company promises to deliver 7200 pens to its wholesaler at Rs. 10 each. It estimates the overall profit on all the manufactured pens to be 25%. What is the manufacturing cost of each pen?
Options- A. Rs. 6
- B. Rs. 7.2
- C. Rs. 5.6
- D. Rs. 8 Discuss
Correct Answer: Rs. 7.2
Explanation:
You must know that the company is able to deliver only 90% of manufactured pens. So let k be the manufacturing price of a pen, then
Total income (including 25% profit) = 8000 x k x 1.25
Also this same income is obtained by selling 90% manufactured at Rs.10 which is equal to 7200 x 10.
Thus 8000 x K x 1.2 = 7200 x 10
? K = Rs. 7.2 ( 90% of 8000 = 7200)
- 4. Prathiba printers prepares diaries expecting to earn a profit of 40% by selling on the marked price. But during transportation 8% diaries were got spoiled due to at random rain and 32% could be sold only at 75% of the cost price. Thus the remaining 60% diaries could be sold at the expected price. What is the net profit or loss in the whole consignment?
Options- A. 6%
- B. 10%
- C. 8%
- D. can't be determined Discuss
Correct Answer: 8%
Explanation:
Let the numbers of diaries (produced) be 100 and the cost price of a diary be Rs. 1 then
Total cost incurred = 100 x 1 = 100
Total sale price = 32 x 0.75 + 60 x 1.4 = 108
Therefore profit = Rs. 8
Thus there is 8% profit.
Note : Marked price (i.e. expected) = 40% above the cost price.
- 5. Radhey Lal markup the prices of sweets by 40% and he sold only 40% of those at this price. He sells half of the rest at 14 2/ 4% discount and rest at 25% discount. What is the net profit of Radhey Lal?
Options- A. 26.5%
- B. 23.5%
- C. 30%
- D. 28.6% Discuss
Correct Answer: 23.5%
Explanation:
Let the number of the sweets be 100 and the cost price of the one piece of sweet = Re.1
Then, total cost price = 100 x 1 = Rs. 100
Total sale price = (40 x 1.4) + (30 x 1.2) + (30 x 1.05) =123.5
? Profit (%) = 123.5 - 100 = 23.5%
- 6. A trader marks up his goods by 80% and gives discount of 25%. Besides it he weighs 10% less amount while selling his goods. What is the net profit of trader?
Options- A. 50%
- B. 35%
- C. 45%
- D. 55% Discuss
Correct Answer: 50%
Explanation:
Consider actual price of 1 g goods = Re. 1.
He sells the product equals to Rs. 90 only (10% less weighing)
Again MP = Rs.1.8 and SP = 1.35 for 1 g.
Thus he gives the goods worth Rs. 90 and charges Rs. 135 after 25% discount.
Thus the profit % = [(135 - 90) / 90 ] x 100
= 50%
- 7. A dishonest dealer purchases goods at 20% discount of the cost price of Rs. x and also cheats his wholesaler by getting 20% extra through false weighing, per kg. Then he marks up his goods by 80% of x, but he gives a discount of 25% besides he cheats his customer by weighing 10% less than the required. What is his overall profit percentage?
Options- A. 125% 120%
- B. 100%
- C. 98.66%
- D. 120% Discuss
Correct Answer: 125% 120%
Explanation:
Let the actual cost price of an article be Rs.1 (in place of x)
Now the purchases goods worth Rs. 120 and pays Rs. 80, since 20% discount is allowed.
So the CP = 80/120 = 2/3
Again MP = 180, SP = 135 (since 25% discount)
Thus the trader sells goods worth Rs.90 instead of 100 g and charges Rs. 135. Therefore the effective SP = 135/90 = 3/2
Therefore Profit (%) = [(3/2 - 2/3 ) / (2/3)] x 100 = 125%
- 8. A merchant buys p apples for ? q and sells q apples for ? p. If p < q, then in the whole outlay, he makes.
Options- A. 10(p2 + q2/q2)% gain
- B. 100 (q2 - p2/q2)% loss
- C. 100 (p2 + q2/p2)% loss
- D. 100 (q2 - p2/p2)% gain Discuss
Correct Answer: 100 (q2 - p2/q2)% loss
Explanation:
Given,
CP of p apples = q
? CP of 1 apple = q/p
and SP of q apples = p
? SP of 1 apple = p/q
Given, p < q
? Loss = q/p - p/q = (q2 - p2) / pq
And Loss% = (Loss/CP) x 100
= {(q2 - p2)/pq} /(q/p)] x 100
= (q2 - p2)/q2 x 100
Therefore, when p < q , then the person had a loos which is given by
100 x (q2 - p2/q2)% loss.
- 9. An article passing through two hands is sold at a profit of 40% at the original cost price. If the 1st dealer makes a profit of 20%, then the profit per cent made by the second is
Options- A. 151/3%
- B. 151/3%
- C. 162/3%
- D. 132/3% Discuss
Correct Answer: 151/3%
Explanation:
Let CP = ? 100
Then, SP = ? 140
Let the profit made by the 2nd dealer = N%
Then, (100 + N)% of 120% of ? 100 = ? 140
? [(100 + N)/100 x (120/100) ] / 100 = 140
? 6(100 + N) = 700
? 600 + 6N = 700
? 6N = 100
? N = (100/6)% = (50/3) %
= 162/3
- 10. A trader purchases a watch and a wall clock for ? 390. He sells them making a profit of 10% on the watch and 15% on the wall clock. He earnes a profit of ? 51.50. The difference between the original prices of the wall clock and the watch is equal to
Options- A. ? 110
- B. ? 100
- C. ? 80
- D. ? 120 Discuss
Correct Answer: ? 110
Explanation:
Let cost price of a wall clock = ? N
? Cost price of a watch = ? (390 - N)
According to the question,
{(N x 10)/100} + {(390 - N) x 15}/100 = 51.50
? 390 x 15 - 5N = 51.50 x 100
? 5N = 5850 - 5150 = 700
? N = 700/5 = 140
? Required difference = (390 - N) - N
= 390 - (2 x 140)
= 390 - 280 = 110
= ? 110
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