Profit and Loss problems
- 1. An item is sold at a loss of 10%. Had it sold for Rs. 9 more, a profit of 25/2% would have gained. What is the cost price of the item?
Options- A. Rs. 90
- B. Rs. 75
- C. Rs. 55
- D. Rs. 40 Also asked in: AIEEE, Bank Exams, CAT, GATE, Analyst, Bank Clerk, Bank PO
Correct Answer: Rs. 40
Explanation:
Let the cost price of the item = Rs. 50
Sold at 10% loss => for Rs. 50 loss S.P = Rs. 45
From the given data,
25/2 % gain if it is sold at Rs. 9 more
56.25 - 45 = 9
=> 11.25 = 9
=> 22.5 = 18
=> 45 = 36
=> 50 = ?
=>
Hence, the Cost price of the item = Rs. 40.
- 2. In an exhibition, Almond bought a painting for Rs. 20000. He later sold it to Olive for Rs. 23000. Olive sold it to Sarah for double the profit percentage that Almond earned. At what price should Sarah sell this painting to earn 8% profit ?
Options- A. Rs. 34,410
- B. Rs. 31,184
- C. Rs. 29,999
- D. Rs. 32,292 Also asked in: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO
Correct Answer: Rs. 32,292
Explanation:
Almond Selling price = CP(1 + P%/100)
=> CP = 20000, SP = 23000
=> 23000 = 20000 (1 + P/100)
=> P% = 100(23000/20000 - 1) = 15
Then, Olive's P% = 30%
SP for Olive = CP for Sarah = 23000(1 + 30/100) = 29900
Now Sarah wants to earn profit of 8%
=> Sp for Sarah = 29900(1 + 8/100)
= Rs. 32,292.
- 3. A shopkeeper sold a mobile phone for Rs. 12000. Had he offered discount of 10% on the selling price, there would be a loss of 4%. What is the cost price of that Mobile phone?
Options- A. Rs. 12,500
- B. Rs. 11,250
- C. Rs. 12,750
- D. Rs. 11,680 Also asked in: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO
Correct Answer: Rs. 11,250
Explanation:
Given that SP = Rs. 12000 - 10% = Rs. 10,800
Loss% = 4
We know that, C.P = 100/(100 - Loss%) x 100
=> 100/100-4 x 10800
=> 1080000/96
C.P = Rs. 11,250
- 4. A merchant buys two items for Rs. 7500. One item he sells at a profit of 16% and the other item at 14% loss. In the deal, the merchant makes neither any profit nor any loss. What is the difference between the selling price of both the items?
Options- A. Rs. 620
- B. Rs. 654
- C. Rs. 725
- D. Rs. 747 Also asked in: AIEEE, Bank Exams, CAT, GATE, Analyst, Bank Clerk, Bank PO, IT Trainer
Correct Answer: Rs. 620
Explanation:
Let the C.P of one item is Rs. P
and that of other is Rs. (7500 - P)
According to the data given
C.P = S.P
=> Px(116/100) + (7500-P)x(86/100) = 7500
=> 30P = 105000
=> P = 3500
Required difference between selling prices
= Rs. [(3500/100) x 116] - [(4000/100) x 86]
= 4060-3440
= Rs. 620
- 5. A quantity of tea is sold at Rs. 5.75 per kilogram. The total gain by selling the tea at this rate is Rs. 60. Find the quantity of tea being sold if a profit of 15% is made on the deal ?
Options- A. 72 kgs
- B. 80 kgs
- C. 76 kgs
- D. 84 kgs Also asked in: AIEEE, Bank Exams, CAT, GATE, Bank Clerk, Bank PO
Correct Answer: 80 kgs
Explanation:
Say total cost price of tea is x.
Then total profit at a rate of 15% is = (15x/100)
According to question,
15x/100 = 60
so x = 400
C.p of the tea is Rs. 400.
so total selling price will be = (400+60) = Rs.460
so the quantity of the tea will be = (460/5.75) = 80kg.
- 6. Selling price of a cellphone is increased by 20%. For this sale is decreased by 30%. Find the effect of total sales?
Options- A. 16%
- B. 14.5%
- C. 12%
- D. 10.5% Also asked in: AIEEE, Bank Exams, CAT, GATE, Analyst, Bank Clerk, Bank PO
Correct Answer: 16%
Explanation:
Let cost of each cell phone = Rs.100 & Sale = 100 phones.
Money receipt = Rs.(100 x 100) = Rs.10,000
New cost per cellphone = Rs.120 and New sale = 70 phones
New Money Receipt = Rs.(70 x 120) = Rs.8400
Then the effect of sales = decrease in money receipt =
- 7. Shamma lends Rs.40,000 to two of her friends. She gives Rs.24,000 to the first at 8% p.a. simple interest. Shamma wants to make a profit of 10% on the whole. The simple interest rate at which she should lend the remaining sum of money to the second friend is:
Options- A. 13%
- B. 8.5%
- C. 9.5%
- D. 11.25% Also asked in: AIEEE, Bank Exams, CAT, GATE, Analyst, Bank Clerk, Bank PO, Database Administrator
Correct Answer: 13%
Explanation:
The ratio of money she lended is
24000 : 16000 = 3 : 2
Let the rate of interest be R%
8% R%
10
3 : 2
R = 13%.
- 8. Raghu earns 25% on an investment but loses 10% on another investment. If the ratio of the two investment is 3:5. What is the gain or loss on two investments taken together ?
Options- A. 1.251 %
- B. 3.125 %
- C. 7.21 %
- D. 9.451 % Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: 3.125 %
Explanation:
Taking the 2 investments to be 3x and 5x respectively
Total income of Raghu = (3x) x 1.25 + (5x) x 0.9 = 8.25
Therefore, Gain% = 0.25/8 x 100 = 3.125 %.
- 9. A man sold two flats for Rs. 4.15 lakhs each. On one he gained 2% and on the other he lost 2%. What percent is the effect of the sale on the whole ?
Options- A. 0.25 %
- B. 0.04 %
- C. 0.5 %
- D. 0 % Also asked in: CAT, Bank Exams, AIEEE, Bank PO, Bank Clerk
Correct Answer: 0.04 %
Explanation:
In this type cases we always have loss only.
Loss% = = = 1/25 = 0.04 %
- 10. Cost Price of 22 articles is same as the Selling Price of 18 articles, find the profit percentage?
Options- A. 33.33%
- B. 22.22%
- C. 11.11%
- D. 1% Also asked in: AIEEE, Bank Exams, CAT, GATE, Analyst, Bank Clerk, Bank PO
Correct Answer: 22.22%
Explanation:
Let the cost price of 1 article = Rs. 1
From the given data,
Then, the selling price of 1 article = 22/18 = 11/9
Then, Profit = SP - CP = 11/9 - 1 = 2/9
Required, profit % = Profit/CP x 100
= [(2/9)/1] x 100
= 200/9
= 22.222%.
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