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Profit and Loss Questions Answers

  • 15. 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.

    1. \begin{aligned} 5\frac{12}{17}\% \end{aligned}
    2. \begin{aligned} 5\frac{13}{17}\% \end{aligned}
    3. \begin{aligned} 5\frac{14}{17}\% \end{aligned}
    4. \begin{aligned} 5\frac{15}{17}\% \end{aligned}
    Answer And Explanation

    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}

  • 16. A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be.

    1. 130%
    2. 140%
    3. 150%
    4. 160%
    Answer And Explanation

    Answer: Option B

    Explanation:

    Let the C.P. = x,
    Then S.P. = (120/100)x = 6x/5
    New S.P. = 2(6x/5) = 12x/5

    Profit = 12x/5 - x = 7x/5

    Profit% = (Profit/C.P.) * 100
    => (7x/5) * (1/x) * 100 = 140 %

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

    1. 12%
    2. 30%
    3. 50%
    4. 60%
    Answer And Explanation

    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}

  • 18. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25% then determine the value of x.

    1. 14
    2. 15
    3. 16
    4. 17
    Answer And Explanation

    Answer: Option C

    Explanation:

    Let the cost price 1 article = Re 1
    Cost price of x articles = x
    S.P of x articles = 20

    Gain = 20 -x

    \begin{aligned}
    => 25 = \left( \frac{20-x}{x} * 100 \right) \\
    => 2000 - 100x = 25 x \\
    => x = 16
    \end{aligned}

  • 19. 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

    1. 70%
    2. 80%
    3. 90%
    4. None of above
    Answer And Explanation

    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)

  • 20. If the cost price of 12 items is equal to the selling price of 16 items, the loss percent is

    1. 20%
    2. 25%
    3. 30%
    4. 35%
    Answer And Explanation

    Answer: Option B

    Explanation:

    Let the Cost Price of 1 item = Re. 1
    Cost Price of 16 items = 16
    Selling Price of 16 items = 12

    Loss = 16 - 12 = Rs 4

    Loss % = (4/16)* 100 = 25%

  • 21. A man bought an article and sold it at a gain of 5 %. If he had bought it at 5% less and sold it for Re 1 less, he would have made a profit of 10%. The C.P. of the article was

    1. Rs 100
    2. Rs 150
    3. Rs 200
    4. Rs 250
    Answer And Explanation

    Answer: Option C

    Explanation:

    Let original Cost price is x
    Its Selling price = 105/100 * x = 21x/20
    New Cost price = 95/100 * x = 19x/20
    New Selling price = 110/100 * 19x/20 = 209x/200
    [(21x/20) - (209x/200)] = 1

    => x = 200