Profit and Loss problems
- 1. The loss incurred on selling an article for Rs. 270 is as much as the profit made after selling it at 10% profit. The C.P. of the article is?
Options- A. Rs. 90
- B. Rs. 110
- C. Rs. 363
- D. Rs. 300 Discuss
Correct Answer: Rs. 300
Explanation:
Let C.P.be Rs. x then, x - 270 = 10% of x = x / 10
? x = 300
- 2. A discount series of 10%, 20% and 40% is equal to single discount of?
Options- A. 50%
- B. 56.80%
- C. 70%
- D. 70.28% Discuss
Correct Answer: 56.80%
Explanation:
Let original price = Rs. 100
Price after 1 st discount = Rs. 90
Price after 2 nd discount = Rs. (80/100) x 90 = Rs. 72
Price after 3 rd discount = Rs. (60/100) x 72 = Rs. 43.20
? Single equivalent discount = (100 - 43.20) = 56.8%
- 3. The C.P. of an article is 40% of the S.P. The per cent that the S.P. is of C.P. is?
Options- A. 40
- B. 60
- C. 240
- D. 250 Discuss
Correct Answer: 250
Explanation:
Let S.P. = Rs. 100
Then C.P. = Rs. 40
? Required percent = (100/40) x 100% = 250%
- 4. Toffees are bought at the rate of 8 for a rupee. To gain 60% they must be sold at?
Options- A. 6 for a rupee
- B. 5 for a rupee
- C. 9 for Rs. 2
- D. 24 for Rs. 5 Discuss
Correct Answer: 5 for a rupee
Explanation:
Suppose he buys 8 toffees
Then, C.P. = Re. 1
Gain = 60%
? S.P. = Rs. (160 / 100 x 1) = Rs. 8 / 5
For Rs. 8 / 5, toffees sold = 8
For Re. 1 toffees sold = (8 x 5) / 8 = 5
So, he must sell them at 5 for a rupee
- 5. Jimmy bought paper sheets for Rs. 7200 and spent Rs. 200 on transport paying Rs. 600 he had 330 boxes made, which he sold at Rs. 28 each. What is his profit percentage?
Options- A. 15.5
- B. 40
- C. 60
- D. None of these Discuss
Correct Answer: 15.5
Explanation:
C.P. of 330 boxes = Rs. (7200 + 200 + 600) = Rs.8000
S.P. of 330 boxes = Rs. (330 x 28) = Rs. 9240
? Gain % = (1240 / 8000) x 100 % = 15.5%
- 6. When the price of a toy was increased by 20%, the number of toys sold was decreased by 15%. What was the effect on the sales of the shop?
Options- A. 4% increased
- B. 4% increased
- C. 2% increased
- D. 2% decreased Discuss
Correct Answer: 2% increased
Explanation:
Let original of each toy be Rs. 100 and number originally sold be 100.
? originaly sale proceeds = Rs. (100 x 100) = Rs. 10000
New sale proceeds = Rs. (120 x 85) = Rs. 10200
? Increase% = (200 x 100 / 10000)% = 2%
- 7. A dealer professing to sell at cost price uses a 900 gms weight for a kilogram. His gain percent is?
Options- A. 9
- B. 10
- C. 11
- D. 111/9 Discuss
Correct Answer: 111/9
Explanation:
Gain% = {Error / (True value - Error)} x 100 %
= (100/900) x 100) %
= 111/9%
- 8. A dealer sold two T.V. sets for Rs. 3700 each. on one he gained 10% and one other he lost 10%. The dealer's loss or gain per cent is?
Options- A. 0%
- B. 0.1%
- C. 1% gain
- D. 1% loss Discuss
Correct Answer: 1% loss
Explanation:
Loss% = (Common gain or loss% / 10)2
= (10 / 10)2 = 1%
- 9. A man sold two houses for Rs. 7.81 lakhs each. On one he gained 5% and on the other he lost 5%. What percent is the effect of the sale on the whole?
Options- A. 0.25% loss
- B. 0.25 % gain
- C. 25 % loss
- D. 25 % gain Discuss
Correct Answer: 0.25% loss
Explanation:
Loss% ( common gain or loss % / 10)2
= ( 5/10 )2 = 1/4 % = 0.25%
- 10. Pofit after selling commodity for Rs. 425 is same as loss after selling it for Rs. 355. The cost of the commodity is?
Options- A. Rs. 385
- B. Rs. 390
- C. Rs. 395
- D. Rs. 400 Discuss
Correct Answer: Rs. 390
Explanation:
Let C.P. = Rs. x then, 425 - x = x - 355
? 2x = 780
? x = 390
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