Profit and Loss problems
- 1. A salesman expects a gain of 13% on his cost price. If in a month, his sale was ? 791000, what was his profit?
Options- A. ? 91000
- B. ? 97786
- C. ? 85659
- D. ? 88300 Discuss
Correct Answer: ? 91000
Explanation:
Given, total sale= ? 791000
? Cost price = (791000 x 100) /113 = ? 700000
? Required profit = 791000 - 700000 = ? 91000
- 2. A gold bracelet is sold for ? 14500 at a loss of 20%. What is the cost price of the gold bracelet?
Options- A. ? 18125
- B. ? 17400
- C. ? 15225
- D. ? 16800 Discuss
Correct Answer: ? 18125
Explanation:
CP of bracelet = [100/(100 - Loss%)] x SP
= (100/80) x 14500
= ? 18125
- 3. Find the SP when CP is ? 40 and gain is 25%.
Options- A. ? 50
- B. ? 45
- C. ? 60
- D. ? 49 Discuss
Correct Answer: ? 50
Explanation:
SP = 125% of CP [? SP = {(100 + Gain%)/100} x CP]
= {125/100} x 40
= (5/4) x 40 = 5 x 10 = ? 50
- 4. Anita purchased a bicycle at cost of ? 3200. She sold it at a loss of ? 240. At what price did she sell the bicycle?
Options- A. ? 2960
- B. ? 2690
- C. ? 3440
- D. ? 3360 Discuss
Correct Answer: ? 2960
Explanation:
We know that
Loss = CP - SP
240 = 3200 - SP
? SP = 3200 - 240 = ? 2960
- 5. Find the CP when SP is ? 400 and loss is 70 %?
Options- A. ? 4000/3
- B. ? 5000/3
- C. ? 2000/3
- D. ? 7000/3 Discuss
Correct Answer: ? 4000/3
Explanation:
CP = (100/30) x 400 = ? 4000/3
[? CP = {100/(100 - Loss%)} x SP]
- 6. By selling a cycle for ? 2345, a student loses 19%. His cost price is nearly?
Options- A. ? 4000
- B. ? 5000
- C. ? 3000
- D. ? 3500 Discuss
Correct Answer: ? 3000
Explanation:
Let cost price be ? N.
Selling price = 2345
Loss = 19%
Cost price, N = (SP x 100)/(100 - Loss%)
= (2345 x 100)/(100 - 19%)
? N = 234500/81 = ? 2895 ? ? 3000
- 7. A man loses 10% by selling an article for ? 180. At what price should he sell it to gain 10%?
Options- A. ? 220
- B. ? 217.80
- C. ? 200
- D. ? 216 Discuss
Correct Answer: ? 220
Explanation:
CP of the article = (180 x 100)/90 = ? 200
To gain 10% SP of article = 110% of 200 = ? 220
- 8. A calculator is bought for ? 350 and sold at a gain of 15%. What will be the selling price of calculator (in ?)?
Options- A. 358
- B. 375
- C. 472
- D. 402.50 Discuss
Correct Answer: 402.50
Explanation:
Given, CP = ? 350 and gain = 15%
? SP = [(100 + Gain%) / 100] x CP
= (115/100) x 350 = 115 x (7/2)
= ? 402.50
- 9. If the cost price is 95% of the selling price, what is the profit per cent?
Options- A. 4
- B. 4.75
- C. 5
- D. 5.26 Discuss
Correct Answer: 5.26
Explanation:
Let SP = SP = ? 100
? CP = ? 95
Profit = 100 - 95 = ? 5
Profit % = (Profit/CP) x 100%
= (5/95) x 100% = 5.26%
- 10. The owner of a cell phone shop charges his customer 28% more than the cost price. If the customer paid ? 8960 for the cell phone, what was the cost price of the cell phone?
Options- A. ? 7800
- B. ? 7000
- C. ? 6900
- D. ? 6850 Discuss
Correct Answer: ? 7000
Explanation:
CP = [100/(100 + Gain%)] x SP
= (8960 x 100)/128
= 70 x 100 = ? 7000
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