Question Detail

A book was sold for Rs 27.50 with a profit of 10%. If it were sold for Rs. 25.75, then would have been percentage of profit and loss ?

2% Profit
3% Profit
2% Loss
3% Loss

Answer: Option B

Explanation:

Please remember
\begin{aligned}
S.P. = \left( \frac{100+gain\%}{100} * C.P \right)\\
\text{So, C.P. = }\left( \frac{100}{110} * 25.75 \right)\\
\text{When S.P. = 25.75 then } \\
Profit = 25.75 - 25 = Re. 0.75 \\

Profit\% = \frac{0.75}{25} * 100 = 3\%

\end{aligned}

1. 100 oranges are bought at the rate of Rs. 350 and sold at the rate of 48 per dozen. The percentage of profit is

\begin{aligned} 12\frac{2}{7} \% \end{aligned}
\begin{aligned} 13\frac{2}{7} \% \end{aligned}
\begin{aligned} 14\frac{2}{7} \%\end{aligned}
\begin{aligned} 15\frac{2}{7} \% \end{aligned}

Answer: Option C

Explanation:

So before solving this question we will get the C.P. and S.P. of 1 article to get the gain percent.

C.P. of 1 orange = 350/100 = Rs 3.50
S.P. of one orange = 48/12 = Rs 4 [note: divided by 12 as 1 dozen contains 12 items]
Gain = 4 - 3.50 = Rs 0.50
\begin{aligned}
Gain\% = \frac{0.50}{3.50}*100 \\
= \frac{100}{7}\%
= 14\frac{2}{7}\%
\end{aligned}

2. 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

70%
80%
90%
None of above

Answer: Option A

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 = (295/420) * 100
= 70%(approx)

3. If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is ?

Answer: Option C

Explanation:

Friends, we know we will need gain amount to get gain percent, right. So lets get gain first.

Let the cost price of 1 pen is Re 1
Cost of 8 pens = Rs 8
Selling price of 8 pens = 12
Gain = 12 - 8 = 4

\begin{aligned}
Gain\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\
= \left( \frac{4}{8} * 100 \right)\% = 50\%
\end{aligned}

4. A shopkeeper sold an article for Rs 2564.36. Approximately what was his profit percent if the cost price of the article was Rs 2400

Answer: Option D

Explanation:

Gain % = (164.36*100/2400) = 6.84 % = 7% approx

5. A shopkeeper sells a transistor at Rs. 840 at a gain of 20% and another for Rs. 960 at the loss of 4%. Find his total gain percent.

\begin{aligned} 5\frac{12}{17}\% \end{aligned}
\begin{aligned} 5\frac{13}{17}\% \end{aligned}
\begin{aligned} 5\frac{14}{17}\% \end{aligned}
\begin{aligned} 5\frac{15}{17}\% \end{aligned}

Answer: Option D

Explanation:

In this type of question, we will first find total C.P. of items, then total S.P. of items, then we will get gain or loss. From which we can easily calculate its percentage.

So lets solve it now.
\begin{aligned}
\text{So, C.P. of 1st transistor = }\\
\left( \frac{100}{120} * 840 \right) = 700 \\

\text{C.P. of 2nd transistor = }\\
\left( \frac{100}{96} * 960 \right) = 1000 \\

\text{Total C.P. = 1700 }\\
\text{Total S.P. = 1800 }\\
\text{Gain = 1800 - 1700 = 100}\\
\text{Gain% = } \left( \frac{100}{1700} * 100 \right) \\
= 5\frac{15}{17}\%
\end{aligned}