Profit and Loss problems
- 1. A milkman has 20 liters of milk. If he mixes 5 liters of water, which is freely available, in 20 liters of pure milk. If the cost of pure milk is Rs. 18 per litre, then the profit of the milkman, when he sells all the mixture at cost price, is:
Options- A. 20%
- B. 25%
- C. 33.33%
- D. 18% Also asked in: AIEEE, Bank Exams, CAT, Bank Clerk, Bank PO
Correct Answer: 25%
Explanation:
When the water is freely available and all the water is sold at the price of the milk, then the water gives the profit on the cost of 20 litres of milk.
Since, the profit % =
Therefore, profit percentage = = 25%
- 2. The profit earned by selling an article for Rs. 832 is equal to the loss incurred when the same article is sold for Rs. 448. What should be the sale price for making 50% profit ?
Options- A. Rs. 660
- B. Rs. 560
- C. Rs. 1060
- D. Rs. 960 Also asked in: AIEEE, Bank Exams, CAT, GATE, GRE, Bank Clerk, Bank PO
Correct Answer: Rs. 960
Explanation:
Let C.P. = Rs. C.
Then, 832 - C = C - 448
2C = 1280 => C = 640
Required S.P. = 150% of Rs. 640 = 150/100 x 640 = Rs. 960.
- 3. A retailer cheats his wholesaler and customer both. He purchases 19% more from the wholesaler and sells 15% less while selling to its customer. What is profit percentage by selling the goods at cost price?
Options- A. 35%
- B. 40%
- C. 42%
- D. 46% Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: 40%
Explanation:
Tota profit percentage = (119 x 100/85) - 100 = 3400/85 = 40%
- 4. A shopkeeper sells one-third of his goods at a profit of 10%, another one-third at a profit of 20%, and the rest at a loss of 6%.What is his overall profit percentage ?
Options- A. 6%
- B. 8%
- C. 10%
- D. 12% Also asked in: AIEEE, Bank Exams, CAT, Bank Clerk, Bank PO
Correct Answer: 8%
Explanation:
Let the shopkeeper buy 300g for Rs.300. Now he sells 100g for Rs.110, another 100g for Rs120, and the rest 100g for Rs94.
Therefore, the total amount he receives = Rs.110 + Rs.120 + Rs.94 = 324.
Therefore, the shopkeeper spends Rs.300 and gets back Rs.324.
Therefore, his profit percentage = % = 8%
- 5. Ajay bought 15 kg of dal at the rate of Rs 14.50 per kg and 10 kg at the rate of Rs 13 per kg. He mixed the two and sold the mixture at the rate of Rs 15 per kg. What was his total gain in this transaction ?
Options- A. Rs 1.10
- B. Rs 11
- C. Rs 16.50
- D. Rs 27.50 Discuss
Correct Answer: Rs 27.50
Explanation:
Cost price of 25 kg = Rs. (15 x 14.50 + 10 x 13) = Rs. 347.50.
Sell price of 25 kg = Rs. (25 x 15) = Rs. 375.
profit = Rs. (375 ? 347.50) = Rs. 27.50.
- 6. Every year before the festive season,a shopkeeper increases the price of the product by 35% and then introduce two successive discount of 10% and 15% respectively.what is percentage loss and percentage gain ?
Options- A. 3.27 % loss
- B. 4.15 % loss
- C. 3.27 % gain
- D. 4.15 % gain Also asked in: AIEEE, Bank Exams, CAT, Bank Clerk, Bank PO
Correct Answer: 3.27 % gain
Explanation:
Let cp= 100,
35 % increase in sp=135
10 % discount in 135((135*10)/100)=13.5
so 1st sp=(135-13.5)=121.5, again 15 % discount in 1st sp((121.5*15)/100)=18.225
2nd sp=(121.5-18.225)=103.275,
so finally cp=100,sp=103.275 ,gain by 3.27%
- 7. 'A' sold an article to 'B' at a profit of 20%. 'B' sold the same article to 'C' at a loss of 25% and 'C' sold the same article to 'D' at a profit of 40%. If 'D' paid Rs 252 for the article, then find how much did 'A' pay for it?
Options- A. Rs.196
- B. Rs.210
- C. Rs.200
- D. Rs.235 Also asked in: AIEEE, Bank Exams, CAT, GATE, GRE, Analyst, Bank Clerk, Bank PO
Correct Answer: Rs.200
Explanation:
Let the article costs 'X' to A
Cost price of B = 1.2X
Cost price of C = 0.75(1.2X) = 0.9X
Cost price of D = 1.4(0.9X) = 1.26X = 252
Amount paid by A for the article = Rs. 200.
- 8. A women goes to market with Rs.500 to buy oranges.the prices of the oranges have decreased by 10% so he could buy 2kg more with the amount she had.What was the original price of the oranges ?
Options- A. 22.77
- B. 25.77
- C. 27.77
- D. 29.77 Also asked in: CAT, Bank Exams, Bank Clerk
Correct Answer: 27.77
Explanation:
If the price of the oranges decreases by 10%, the woman would save 10% of the money that is Rs.50 to buy the same amount as before.Now in Rs. 50 she can buy 2 kg more, therefore the current price of 1 kg of oranges is Rs25.Now, this current price is after 10% reduction.
Therefore, the original price = 25/0.9 = Rs. 27.77
- 9. A man buys an item at Rs. 1200 and sells it at the loss of 20 percent. Then what is the selling price of that item
Options- A. Rs. 660
- B. Rs. 760
- C. Rs. 860
- D. Rs. 960 Discuss
Correct Answer: Rs. 960
Explanation:
Here always remember, when ever x% loss,
it means S.P. = (100 - x)% of C.P
when ever x% profit,
it means S.P. = (100 + x)% of C.P
So here will be (100 - x)% of C.P.
= 80% of 1200
= (80/100) * 1200
= 960
- 10. A shopkeeper fixes the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is
Options- A. 18%
- B. 20%
- C. 22%
- D. 24% Discuss
Correct Answer: 20%
Explanation:
Let the cost price = Rs 100
then, Marked price = Rs 135
Required gain = 8%,
So Selling price = Rs 108
Discount = 135 - 108 = 27
Discount% = (27/135)*100 = 20%
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