Profit And Loss
1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for
Rs. 5800, his gain percent is:
A. 4(4/7)% B. 5
5
%
11
C. 10% D. 12%
Answer & Explanation
Answer: Option B
Explanation:
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.
Selling Price (S.P.) = Rs. 5800.
Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.
Gain % =
300
x 100
%
= 5
5
%
5500 11
2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the
value of x is:
A. 15 B. 16
C. 18 D. 25
Answer & Explanation
Answer: Option B
Explanation:
Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.
S.P. of x articles = Rs. 20.
Profit = Rs. (20 - x).
20 - x
x 100 = 25
X
2000 - 100x = 25x
125x = 2000
x = 16.
3. If selling price is doubled, the profit triples. Find the profit percent.
A. 66
2
3
B. 100
C. 105
1
3
D. 120
Answer & Explanation
Answer: Option B
Explanation:
Let C.P. be Rs. x and S.P. be Rs. y.
Then, 3(y - x) = (2y - x) y = 2x.
Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.
Profit % =
x
x 100
% = 100%
x
4. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price
remains constant, approximately what percentage of the selling price is the profit?
A. 30% B. 70%
C. 100% D. 250%
Answer & Explanation
Answer: Option B
Explanation:
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420.
Profit = Rs. (420 - 125) = Rs. 295.
Required percentage =
295
x 100
%
=
1475
% = 70% (approximately).
420 21
5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
A. 3 B. 4
C. 5 D. 6
Answer & Explanation
Answer: Option C
Explanation:
C.P. of 6 toffees = Re. 1
S.P. of 6 toffees = 120% of Re. 1 = Rs.
6
5
For Rs.
6
, toffees sold = 6.
5
For Re. 1, toffees sold = 6 x
5
= 5.
6
6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss
incurred by selling the same article for Rs. 1280. At what price should the article be sold to make
25% profit?
A. Rs. 2000 B. Rs. 2200
C. Rs. 2400 D. Data inadequate
Answer & Explanation
Answer: Option A
Explanation:
Let C.P. be Rs. x.
Then,
1920 - x
x 100 =
x - 1280
x 100
x x
1920 - x = x – 1280
2x = 3200
x = 1600
Required S.P. = 125% of Rs. 1600 = Rs.
125
x 1600 = Rs 2000.
100
7. A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what
was his profit?
A. Rs. 18.20 B. Rs. 70
C. Rs. 72 D. Rs. 88.25
Answer & Explanation
Answer: Option C
Explanation:
C.P. = Rs.
100
x 392 = Rs.
1000
x 392 = Rs. 320
122.5 1225
Profit = Rs. (392 - 320) = Rs. 72
8. A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?
A. Rs. 1090 B. Rs. 1160
C. Rs. 1190 D. Rs. 1202
Answer & Explanation
Answer: Option C
Explanation:
S.P. = 85% of Rs. 1400 = Rs.
85
x 1400 = Rs. 1190
100
9. Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the
rate of Rs. 33. What was his percentage profit?
A. 3.5 B. 4.5
C. 5.6 D. 6.5
Answer & Explanation
Answer: Option C
Explanation:
Cost Price of 1 toy = Rs. 375 = Rs. 31.25
12
Selling Price of 1 toy = Rs. 33
So, Gain = Rs. (33 - 31.25) = Rs. 1.75
Profit % =
1.75
x 100
%
=
28
% = 5.6%
31.25 5
10. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:
A. 30% B. 33
1
%
3
C. 35% D. 44%
Answer & Explanation
Answer: Option D
Explanation:
Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.
C.P. of 30 articles = Rs.
5
x
30
=
Rs.
25.
6
11. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The
cost price of a ball is:
A. Rs. 45 B. Rs. 50
C. Rs. 55 D. Rs. 60
Answer & Explanation
Answer: Option D
Explanation:
(C.P. of 17 balls) - (S.P. of 17 balls) = (C.P. of 5 balls)
C.P. of 12 balls = S.P. of 17 balls = Rs.720.
C.P. of 1 ball = Rs.
720
= Rs. 60.
12
12. When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that
plot be sold in order to gain 15%?
A. Rs. 21,000 B. Rs. 22,500
C. Rs. 25,300 D. Rs. 25,800
Answer & Explanation
Answer: Option C
Explanation:
85 : 18700 = 115 : x
x =
18700 x 115
= 25300.
85
Hence, S.P. = Rs. 25,300
13. 100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per
dozen. The percentage of profit or loss is:
A. 14
2
% gain
7
B. 15% gain
C. 14
2
% loss
7
D. 15 % loss
Answer & Explanation
Answer: Option A
Explanation:
C.P. of 1 orange = Rs.
350
= Rs. 3.50
100
S.P. of 1 orange = Rs.
48
= Rs. 4
12
Gain% =
0.50
x 100
%
=
100
% = 14
2
%
3.50 7 7
14. A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs.
960 at a loss of 4%. His total gain or loss percent is:
A. 5
15
% loss
17
B. 5
15
% gain
17
C. 6
2
% gain
3
D. None of these
Answer & Explanation
Answer: Option B
Explanation:
C.P. of 1
st
transistor = Rs.
100
x 840 = Rs. 700.
120
C.P. of 2
nd
transistor = Rs.
100
x 960 = Rs. 1000
96
So, total C.P. = Rs. (700 + 1000) = Rs. 1700.
Total S.P. = Rs. (840 + 960) = Rs. 1800.
Gain % =
100
x 100
%
= 5
15
%
1700 17
15. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at
Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:
A. No profit, no loss B. 5%
C. 8% D. 10%
E. None of these
Answer & Explanation
Answer: Option B
Explanation:
C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.
S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.
Gain =
80
x 100
% = 5%.
1600
S.P. of 30 articles = Rs.
6
x 30 = Rs. 36.
5
Gain % =
11
x 100
% = 44%.
25
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