Profit and loss set-2

  1. A man purchased some fruits for Rs 1000. He sold 2/5th of the fruits worth Rs 400 at 10% profit. At what percent must he sell the rest in order to get 20% profit on the whole?
    A. 26 2/3%
    B. 25%
    C. 30%
    D. 33 1/3%
    A. 26 2/3%
    Explanation:
    2/5 (10) + 3/5 (x) = 20
    Find x

  2. A retailer marked its goods at 50% above the cost price and thinking that he will still make 30% profit, offers a discount of 20% on the marked price. What is the actual profit on the sale?
    A. 18%
    B. 25%
    C. 20%
    D. 15%
    C. 20%
    Explanation:
    50 + (-20) + (50)(-20)/100

  3. Toffees are bought at 27 for a rupee. How much must be sold for a rupee so as to gain 50%?
    A. 18
    B. 25
    C. 20
    D. None of these
    A. 18
    Explanation:
    27 * (100/150) = 18

  4. By selling 8 articles, a tradesman makes a loss equal to the cost price of 4 articles. Find loss%.
    A. 25%
    B. 100/3%
    C. 50%
    D. None of these
    C. 50%
    Explanation:
    C.P of 8 articles – S.P of 8 articles = C.P of 4 articles
    C.P of 4 articles = S.P of 8 articles
    Profit% = (8 – 4)/8 * 100 = 50%

  5. Shopkeeper marks his goods at Rs 2,000. Now after allowing a discount of 25%, he gains 50%. Find the cost price of the article.
    A. Rs 1800
    B. Rs 1000
    C. Rs 1500
    D. None of these
    B. Rs 1000
    Explanation:
    Use M.P. = (100 + p%)/(100 – d%) * C.P.

  6. Two articles are bought at Rs 800 each. While selling the articles, trader made 10% profit on the first article and 10% loss on the second article. Find the overall profit/loss percent.
    A. 25%
    B. 100/3%
    C. Neither loss nor profit
    D. None of these
    C. Neither loss nor profit
    Explanation:
    When two articles are bought at same price and sold at equal profit % and loss % respectively, it is neither profit nor loss

  7. A fruit vendor purchased 21 apples for Rs 180. 33 1/3% of the apples were rotten and had to be thrown away. What price should the trader charge per apple if he wants to earn a profit of 16 2/3%?
    A. Rs 28
    B. Rs 15
    C. Rs 22
    D. Rs 25
    B. Rs 15
    Explanation:
    33 1/3 % rotten implies 100/3 * 100 *21 = 7 rotten
    14 apples left
    For profit of 16 2/3% or 50/3%
    S.P. of 14 apples should be (100 + 50/3)/100 * 180 = 210

  8. By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss %?
    A. 30%
    B. 20%
    C. 37 1/7%
    D. 33 1/3%
    C. 37 1/7%
    Explanation:
    C.P.        S.P.
    Profit is 20%. So,
    (7/10 S.P. – C.P.)/C.P. * 100 = 20
    This gives S.P. = 12/7 C.P.
    Now product sold at 20% less S.P. i.e. 80/100 or 4/5 of S.P.
    Profit/loss% = (4/5 S.P. – C.P.)/C.P. * 100
    Put S.P. = 12/7 C.P. and find the final answer

  9. Raman bought an item at 20% discount on its original price. He sold it with 40% increase on the price he bought it. The new sale price is by what percent more than the original price?
    A. 12%
    B. 20%
    C. 15%
    D. 25%
    A. 12%
    Explanation:
    40 + (-20) + (40)(-20)/100

  10. The selling price of an article is marked at 10% above the cost price. At the time of selling, he allows a certain discount and suffers a loss of 1%. He allowed a discount of:
    A. 20%
    B. 10%
    C. 15%
    D. 25%
    B. 10%
    Explanation:
    Use M.P. = (100 + p%)/(100 – d%) * C.P.
    110/100 M.P. = (100 – 1)/(100 – d%) * C.P.
    Find d%
  11. A vendor  loses the selling price of 4 apples on selling 36 apples. His loss percent is
    A)12(1/2)%
    B)11(1/2)%
    C)10%
    D)9%
    Answer – C) 10%
    Explanation :
    Selling price of 36 apples = Rs.36
    Selling price of 4 oranges = Rs.4
    Loss = 4
    Cost price = 36+4 = 40
    Loss % = (4/40)×100 = 10%

  12. By selling 15 oranges, a fruit seller gains the selling price of 1 orange. Calculate his gain percentage
    A)7.14%
    B)6.14%
    C)8%
    D)8.41%
    Answer – A)7.14%
    Explanation :
    SP of 1orange = 1
    SP of 15 orange = 15
    Profit = 1
    CP = 15 – 1 = 14
    Profit % = (1/14)×100 = 7.14%

  13. A person sold a Tubelight at Rs.85.25 in such a way that his percentage profit is the same as the cost price of the Tubelight. If he sells it at twice the percentage profit of his previous percentage of the profit then the new selling price will be
    A)Rs. 110.5
    B)Rs.115.05
    C)Rs.115.5
    D)Rs.110.05
    Answer – C)Rs. 115.5
    Explanation :
    Cp = x
    Sp = x+(x2/100) = 85.25
    x2+100x-8525 = 0
    (x+155)(x-55) = 0
    X = 55
    Now sp = 55+(55×110)/100 = 55+60.50 =115.5

  14. A dealer sold 575 cement package at a profit of 9%. If one cement package cost Rs.2400, Find his total profit ?
    A)124100
    B)124200
    C)124000
    D)123200
    Answer – B)124200
    Explanation :
    Cp = 575 × 2400 = 1380000
    P = 9%
    P = (1380000×9)/100 = 124200

  15. What profit or loss percentage did Harini earn if she purchased an item Rs.5000 and sold it three – fourth of its cost price ?
    A)21%
    B)22%
    C)25%
    D)20%
    Answer – C) 25%
    Explanation :
    Cp = 5000
    Sp = ¾(5000) = 3750
    Loss = 1250
    Loss % = (1250×100)/5000 = 25%

  16. The ratio of the cost price to the marked price of a watch is 3:5 and ratio of the percentage profit to the percentage discount is 5:3.Find the profit percentage ?
    A)13.34%
    B)16.65%
    C)16.43%
    D)17.5%
    Answer – B)16.65%
    Explanation :
    Cp:mp = 3x:5x = 300 : 500
    Profit = 2x
    P:d = 5:3
    (5x×300)/100 +(3x×500)/100 = 100
    30x = 100
    X =(100/30) = 3.33%=> 5x = 16.65%

  17. A weighting machine of  a trader weights 10% less than it should and the trader marks up his goods to get an overall profit of 18%.How much does he mark up on the cost price ?
    A)6.2%
    B)6.5%
    C)6.3%
    D)5.6%
    Answer – A)6.2%
    Explanation :
    Cp = Rs.1 per gram
    1000gms =>10% less = 900gms—–vales of good sold – x%
    MP = 1000+(1000X/100) = 1000+10X
    % P = [(1000+10X-900)/900]×100
    18 =(100+10x)/9
    162 = 100+10x
    10x = 62
    X = 6.2%

  18. If a clock is sold for Rs.120 there is a loss of 15%.For a profit of 2%, the clock is to be sold for
    A)141
    B)142
    C)143
    D)144
    Answer – D) 144
    Explanation :
    Sp = 120
    Loss = 15%
    Cp = 120 × (100 / {100-15}) = 2400/17 = 141.18
    Profit = 141.18×{(100+2)/100} = 144

  19. A discount of 20% on article A is the same as a discount on 15% on another article B. The cost of the 2 article can be
    A)33:88
    B)51:68
    C)45:63
    D)14:19
    Answer – B)51:68
    Explanation :
    A×(20/100) = 20A
    B×(15/100) = 15B
    20A = 15B
    A/B = 15:20 => 3:4
    3:4 => 3*17: 4*17 = 51:68

  20. The difference in discounts between two successive discounts of 8% each and a single discount of 16% on Rs.2000 is
    A)6.4
    B)4.6
    C)12.8
    D)12.6
    Answer – C) 12.8
    Explanation :
    Two successive discounts of 8% = [ 8+8-(8*8/100)]% = 15.36%
    Diff = 16 – 15.36 = 0.64%
    Required diff = 2000×(0.64/100) = Rs. 12.8
  21. The marked price of a sofa is 11,500 . The shopkeeper sold it by allowing 18% discount on the market price and earned 15% profit. What is the cost price of the sofa ?
    A)8000
    B)8100
    C)8200
    D)8400
    Answer – C) 8200
    Explanation :
    11500×(82/100)×(100/115) = 8200

  22. The ratio of the cost price to the marked  price of the furniture is 3:5 and ratio of percentage profit to the percentage discount is 5:3.What is the discount percentage ?
    A)3.33
    B)6.66
    C)15.15
    D)9.99
    Answer – D) 9.99
    Explanation :
    CP:MP = 3: 5
    P:D = 5:3
    Let CP = 300; MP = 500
    (5X/100)×300 + (3X/100)×500 = 100
    15X+15X = 100
    X=(100/30) = 3.33
    Discount = 3×3.33 = 9.99

  23. A shopkeeper expect the gain of 19% on his cost price.If in a week his sale was of Rs.462 , What was his profit ?
    A)73
    B)73.77
    C)73.50
    D)74
    Answer – B)73.77
    Explanation :
    CP=(100/119)×462 = 388. 23
    P = 462 – 388.23 = 73.77

  24. Prakash  bought a bike at 20% discount on its original price.He sold it with 30% increase on the price he bought it.The new sale price is by what percent more than the original price ?
    A)4%
    B)5%
    C)10%
    D)22%
    Answer – A) 4%
    Explanation :
    Let original price = Rs.100
    20% discount = Rs.20
    CP = 80
    SP = (130/100)×80 = 104
    Percentage = (104 – 100 )% = 4%

  25. Shopkeeper marked the selling price of an article at 12% above the cost price . At the time of selling , he allow certain discount and suffer a loss of 2%.Find the discount percentage
    A)12%
    B)12.25%
    C)12.5%
    D)13%
    Answer -C) 12.5%
    Explanation :
    Let CP = 100
    MP = 112
    SP = 98
    Discount percentage = ([112 – 98]/112)×100 = (14/112)×100 = 12.5%

  26. A Grinder is listed at Rs.1200 and a discount of 25%is offered  on the list price. What additional discount must be offered to the customer to bring the net price to Rs. 990.
    A)10%
    B)12%
    C)15%
    D)20%
    Answer – A) 10%
    Explanation :
    SP after 1st discount = [(75/100)×1200] = Rs.900
    Net SP = Rs.990
    Discount on Rs.900 = 990 – 900 = Rs.90
    Required discount = [(90/900)×100] = 10%

  27. A sales man sells 2 watches for Rs.460 each.On one he gets 15% profit and on the other 15% loss.His profit or loss in the entire transaction was
    A)2(4/6)%
    B)2(1/4)%
    C)2(3/4)%
    D)2(7/4)%
    Answer – B) 2(1/4)%
    Explanation :Loss = (15/10)^2 = 225/100 = 9/4 = 2(1/4)%

  28. A shopkeeper takes 12% profit on his goods.He lost 22% goods during theft.His loss percentage is
    A)12.56
    B)12.55
    C)12.64
    D)12.60
    Answer – C) 12.64
    Explanation :
    Let no of goods = 100
    CP of each item Rs.1 then total cost = Rs.100
    No of item theft = 22
    Remaining item = 78
    Profit 12%, SP = 1.12 each item
    Total sale = 78 ×1.12 = 87.36
    Loss = 100 – 87.36 = 12.64

  29. The difference the cost price and selling price of the book is Rs.260 .If the profit is  25%, then the selling price is
    A)1100
    B)1200
    C)1250
    D)1300
    Answer -D) 1300
    Explanation :
    SP = 125% of Rs.x = (x×125/100) = 5x/4
    (5x/4) – x = 260
    X = (260 × 4) = 1040
    SP = (1040×5)/4 = 1300

  30. The  CP of 18 articles is equal to SP 15 articles .Find the gain or loss
    A)15%
    B)18%
    C)20%
    D)22%
    Answer – C) 20%
    Explanation :
    CP of each article = Rs.1
    CP of 18 articles = Rs.18
    SP of 15 articles = Rs. 18
    Gain = (3/15) × 100 = 20%
  31. The cash difference between the selling price of an article at a profit of 8% and 4% is Rs 3 the ratio of the two selling price is
    A. 51 : 52
    B. 27 : 26
    C. 51 : 53
    D. 52 : 55
    Answer – B (27:26)
    Explanation – Let the C.P of the article be Rs. x
    Then required ratio = 108% of x / 104% of x
    = 108/104= 27:26


  32. A man sells two flats at the rate of Rs. 2 lakhs each. On one he gains 3% and on the other, he loses 3%. His gain or loss % in the whole transaction is
    A. 9% loss
    B. 2% loss
    C. 3% loss
    D. 25% loss
    Answer – A (0.09% loss)
    Explanation – Loss% = X^2/100=(3)^2/100 %  =0.09%



  33. A man sells two flats for Rs. 8000 each. neither loosing nor gaining in the deal. If he sold one at a gain of 25%, the other commodity sold at a loss of:
    A. 50/3 %
    B. 18 /3%
    C. 25%
    D. 32%
    Answer – A (50/3 %)
    Explanation – Total S.P = 16000 Rs. and Total C.P = 16000 Rs.
    S.P. of Ist = Rs. 8000. Gain on it = 25%
    C.P of Ist = Rs. (100/125 x 8000) = Rs.6400
    C.P of 2nd = Rs, (16000 – 6400) = Rs. 9600.
    S.P of 2nd = 8000.
    ∴loss on 2nd commodity = (1600/9600 x 100)% = 50/3%



  34. A house and shop were sold for Rs. 1 lakh each. In this transaction the house sell resulted into 20% loss whereas the shop sell resulted into 20% of profit. The entire transaction resulted in:
    A. no loss no gain
    B. loss of Rs 1/12 lakh
    C. loss of Rs 4lakh
    D. gain of Rs 6lakh
    Answer – B (loss of Rs. 1/12 lakh)
    Explanation – Total S.P = Rs. 2 lakh.
    C.P of house = Rs. (100/80 x 1)lakh = Rs 5/4 lakh
    C.P of shop = Rs. (100/120 x 1)lakh = Rs. 5/6 lakh
    Total C.P = Rs. (5/4 + 5/6)lakh = Rs. 25/12 lakh
    ∴ loss = Rs.(25/12 – 2)lakh = Rs. 1/12 lakh.


  35. Reshma purchased 120 chairs at price of Rs. 110 per chair. He sold 30 chairsat a profit of Rs. 12 per chair and 75 chairs at profit of Rs. 14 per chairs. The remaining chairs were sold at a loss of Rs. 7 per chairs. What is the average profit per table?
    A. Rs 10.56
    B. Rs 10.87
    C. Rs 12.123
    D. Rs 12.67
    Answer – B (Rs 10.875)
    Explanation – Total C.P = Rs. (120 x 110) =Rs. 13200.
    Total S.P = Rs.[(30 x 110 + 30 x 12) + (75 x 110 + 75 x 14) + (15 x 110 – 15 x 7)
    =Rs..14505
    Average profit = Rs. (14505 – 13200) /120
    = Rs. 1305/120= 10.875



  36. Hemant sold 10 sarees for a total profit of Rs. 460 and 12 sarees for a total profit of Rs. 144. At what profit per saree should he sell the remaining 20 sarees so that he gets an average profit of Rs. 18 per sarees?
    A. Rs 7.10
    B. Rs 7.60
    C. Rs 7.99
    D. Rs 8

    Answer – B (Rs 7.60)
    Explanation – Total profit required = Rs.(42 x 18) = Rs.756
    Profit on 22 sarees = Rs. (460 + 144) = Rs. 604
    Profit on 20 sarees = Rs. (756 – 604) = Rs. 152
    Average profit on these sarees = Rs.(152/20) = Rs. 7.60



  37. Sanki purchased 20 dozen notebook at Rs. 48 per dozen. He sold 8 dozen at 10% profit and remaining 12 dozen with 20% profit. What is his profit percentage in the transaction?
    A. 8%
    B. 15%
    C. 16%
    D. 19%
    Answer – C (16%)
    Explanation – C.P of 20 dozen = Rs.(48 x 20) = Rs.960
    C.P of 8 dozen = Rs. (48 x8) = Rs. 384.
    C.P of 12 dozen =Rs. (960 – 384) = Rs. 576
    Total S.P = Rs. (110/100 x 384 +120/100 x 576) = Rs.1113.60
    ∴ Profit % = (153.60/960 x 100)% =16%



  38. A man purchased wheat worth Rs. 400. He sold 3/4 at a loss of 10% and the reminder at a gain of 10%. On the whole he gets:
    A. loss of 5%
    B. gain of 5
    C. loss of 19%
    D. loss of 6%
    Answer – A (loss of 5%)
    Explanation – C.P of 3/4th = Rs. (3/4 x 400) = Rs. 300,
    C.P of 1/4th = Rs. 100
    ∴ Total S.P = (90% of Rs. 300 + 110% of Rs. 100) = Rs. 380
    Loss = (20/400 x 100)% = 5%



  39. Reema buys dress for 10% less than its value and sells it for 10% more than its value. His gain or loss percent is:
    A. no profit, no loss
    B. 20% profit
    C. less than 20% profit
    D. more than 20% profit
    Answer – D (more than 20% profit)
    Explanation –
    Let the article be worth Rs. x.
    C.P. = 90% of Rs. x. = Rs.(9/10)x S.P. = 110% of Rs.x = Rs.(11/10)x
    Gain = Rs.11/10x- 9/10x=(1/5)x
    gain %=(2/5x) x (10/9x) x 100 =44.44% >20%



  40. A retailer buys 40 pens at the marked price of 36 pens from a wholesaler. If he sells these pens giving a discount of 1%, what is the profit percent?
    A. 10%
    B. 22%
    C. 25%
    D. 26%
    Answer – A (10%)
    Explanation – Let the marked price of each pen be Re. 1.
    Then, C.P. of 40 pens = Rs. 36.
    S.P. of 40 pens = 99% of Rs. 40 = Rs. 39.60.
    ∴ Profit% = [3.60/36 x 100]% = 10%.


  41. Jimmy bought 25 apples for Rs.10 and sold them at the rate of 24 apples for Rs.12. What is the percentage of profit made by him?
    A. 25%
    B. 70%
    C. 60%
    D. 100%
    Answer – A (25%)
    Explanation – CP of 1 apple=10/25=2/5
    SP of 1 apple=12/24=1/2
    profit= 1/2-2/5=1/10
    %= [(1/10) / (2/5) ] x 100 =25 %


  42. 60% loss on cost price is what percent loss on selling price?
    A. 28
    B. 38 %
    C. 40
    D. 150%
    Answer – D (150 %)
    Explanation – Loss = 60% on CP i.e., 0.6CP
    ⇒ SP = 0.4CP Loss % on SP = loss/SP x 100
    = 0.6CP/0.4CP x 100 = 150%.


  43. A person, by selling an article at half of the list price incurs a loss of 20%. Find the profit percentage if he sells at the list price?
    A. 25%
    B. 60%
    C. 5%
    D. 30 %
    Answer – B (60 %)
    Explanation – 0.50 MP = 0.8 CP (since 20% loss) So, MP = 160CP ⇒ 60% gain.

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