Profit and Loss problems
- 1. By selling 45 lemons for Rs 40, a man loses 20%. How many should he sell for Rs 24 to gain 20% in the transaction ?
Options- A. 16
- B. 18
- C. 20
- D. 22 Discuss
Correct Answer: 18
Explanation:
Let S.P. of 45 lemons be Rs. x.
Then, 80 : 40 = 120 : x or x = = 60
For Rs.60, lemons sold = 45
For Rs.24, lemons sold = = 18.
- 2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:
Options- A. 15
- B. 16
- C. 18
- D. 25 Discuss
Correct Answer: 16
Explanation:
Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.
S.P. of x articles = Rs. 20.
Profit = Rs. (20 - x).
=> 2000 - 100x = 25x
=> 125x=2000
=> x=16
- 3. If selling price is doubled, the profit triples. Find the profit percent ?
Options- A. 100%
- B. 200%
- C. 300%
- D. 400% Also asked in: AIEEE, Bank Exams, CAT, GATE, GRE, Bank Clerk, Bank PO
Correct Answer: 100%
Explanation:
Let the C.P be Rs.100 and S.P be Rs.x, Then
The profit is (x-100)
Now the S.P is doubled, then the new S.P is 2x
New profit is (2x-100)
Now as per the given condition;
=> 3(x-100) = 2x-100
By solving, we get
x = 200
Then the Profit percent = (200-100)/100 = 100
Hence the profit percentage is 100%
- 4. A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain is.
Options- A. 20%
- B. 21%
- C. 22%
- D. 23% Discuss
Correct Answer: 21%
Explanation:
Gain % = %
=
= 21%
- 5. A milkman purchases the milk at Rs. x per litre and sells it at Rs. 2x per litre still he mixes 2 litres water with every 6 litres of pure milk. What is the profit percentage?
Options- A. 116%
- B. 166.66%
- C. 60%
- D. 100% Also asked in: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO
Correct Answer: 166.66%
Explanation:
Let the cost price of 1-liter pure milk be Re.1, then
8 litre mixture =>
SP => 8 x 2 = Rs. 16
Profit % =
- 6. If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425, what is the greatest possible profit that might be made in selling eight books ?
Options- A. 600
- B. 1200
- C. 1800
- D. none of these Discuss
Correct Answer: 1800
Explanation:
Least Cost Price = Rs. (200 * 8) = Rs. 1600.
Greatest Selling Price = Rs. (425 * 8) = Rs. 3400.
Required profit = Rs. (3400 - 1600) = Rs. 1800.
- 7. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?
Options- A. Rs. 2000
- B. Rs. 2200
- C. Rs. 2400
- D. Data inadequate Discuss
Correct Answer: Rs. 2000
Explanation:
Let C.P. be Rs. x.
Then,= >
=> 1920 - x = x - 1280
=> 2x = 3200
=> x = 1600
Required S.P. = 125% of Rs. 1600 =Rs(125/100*1600) = Rs2000
- 8. If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is ?
Options- A. 12%
- B. 30%
- C. 50%
- D. 60% Discuss
Correct Answer: 50%
Explanation:
Friends, we know we will need gain amount to get gain percent, right. So lets get gain first.
Let the cost price of 1 pen is Re 1
Cost of 8 pens = Rs 8
Selling price of 8 pens = 12
Gain = 12 - 8 = 4
Gain% = % = % = 50%
- 9. Tarun got 30% concession on the labelled price of an article and sold it for Rs. 8750 with 25% profit on the price he bought. What was the labelled price ?
Options- A. 10000
- B. 12000
- C. 13000
- D. 14000 Discuss
Correct Answer: 10000
Explanation:
Cost Price = = Rs. 7000. Let the labelled price be Rs. x.
Then,
= Rs.10000
- 10. Due to reduction of 25% in price of oranges a customer can purchase 4 oranges more for Rs. 16. what is original price of an orange?
Options- A. Rs 1
- B. Rs 1.33
- C. Rs 1.5
- D. Rs 1.6 Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: Rs 1.33
Explanation:
Recall it is based on inverse proportion or product constancy concept.
Reducion in price increase in amount
25% 1/4 1/3 33.33% = 4 oranges
It means original number of oranges = 4 x 3 = 12
original price of oranges = 16/12 = Rs. 1.33
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