Profit and Loss

Question: 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: 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

Question:
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: 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

Question: 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: 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.

Video Explanation: https://youtu.be/sidqvjUoZxY

Question: 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: 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

Video Explanation: https://youtu.be/dPzF10mGsWE

Question:
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: 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

Question: 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: Option C

Explanation:

C.P. = Rs.		100	x 392		= Rs.		1000	x 392		= Rs. 320
		122.5					1225

Profit = Rs. (392 – 320) = Rs. 72.

Video Explanation: https://youtu.be/a36nJFgh5yk

Question: 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: Option C

Explanation:

S.P. = 85% of Rs. 1400 = Rs.		85	x 1400		= Rs. 1190
		100

Video Explanation: https://youtu.be/jn0XIafQvAc

Question: 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: 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

Question: 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: 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

Video Explanation: https://youtu.be/MhswuvDVWzo

Question: 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: 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