Profit and Loss : Part 3

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
           

 

S.P. of 30 articles = Rs. 6 x 30 = Rs. 36.
5

 

Gain % = 11 x 100   %   = 44%.
25

 

 

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 1st transistor = Rs. 100 x 840   = Rs. 700.
120

 

C.P. of 2nd 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

 

 

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