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Profit and Loss Questions Answers

  • 22. A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%

    1. Rs 8.81
    2. Rs 9.81
    3. Rs 10.81
    4. Rs 11.81
    Answer And Explanation

    Answer: Option D

    Explanation:

    85 : 9 = 105 : x
    x= (9×105/85)
    = Rs 11.81

  • 23. If the manufacturer gains 10 %, the wholesale dealer 15 % and the retailer 25 %, then find the cost of production of a table if the retail price was Rs 1265

    1. Rs. 750
    2. Rs. 800
    3. Rs. 850
    4. Rs. 900
    Answer And Explanation

    Answer: Option B

    Explanation:

    Let the cost of Production = Rs. P
    Then, as per question,

    \begin{aligned}
    => \left( \frac{125}{100} *\frac{115}{100}*\frac{110}{100} * P \right) = 1265\\
    => \frac{253}{160}P = 1265 \\
    => P = 800
    \end{aligned}

  • 24. A producer of tea blends two varieties of tea from two tea gardens one costing Rs 18 per kg and another Rs 20 per kg in the ratio 5 : 3. If he sells the blended variety at Rs 21 per kg, then his gain percent is

    1. 12%
    2. 13%
    3. 14%
    4. 15%
    Answer And Explanation

    Answer: Option A

    Explanation:

    Suppose he bought 5 kg and 3 kg of tea.
    Cost Price = Rs. (5 x 18 + 3 x 20) = Rs. 150.
    Selling price = Rs. (8 x 21) = Rs. 168.
    Profit = 168 - 150 = 18

    So, Profit % = (18/150) * 100 = 12%

  • 25. A material is purchased for Rs. 600. If one fourth of the material is sold at a loss of 20% and the remaining at a gain of 10%, Find out the overall gain or loss percentage

    1. \begin{aligned} 4\frac{1}{2} \end{aligned}
    2. \begin{aligned} 3\frac{1}{2} \end{aligned}
    3. \begin{aligned} 2\frac{1}{2} \end{aligned}
    4. \begin{aligned} 1\frac{1}{2} \end{aligned}
    Answer And Explanation

    Answer: Option C

    Explanation:

    We need to get the Total selling price to solve this question. Because after getting selling price we can get profit or loss, then we can calculate profit% or loss%

    So lets solve this:

    Price Received by selling one fourth of the material at a loss of 20% =
    (1/4) * 600 * (80/100) = Rs. 120

    Price Received by remaining material at a gain of 10% =
    (3/4) * 600 * (110/100) = Rs. 495 [Note: 1-(1/4) = 3/4]

    Total Selling Price = 120 + 465 = Rs. 615

    Profit = 615 - 600 = 15

    \begin{aligned}
    Profit\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\
    = \left( \frac{15}{600} * 100 \right)\% \\
    = \frac{5}{2}\% = 2\frac{1}{2}\%
    \end{aligned}

  • 26. 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

    1. 4%
    2. 5%
    3. 6%
    4. 7%
    Answer And Explanation

    Answer: Option D

    Explanation:

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

  • 27. A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain is.

    1. 20%
    2. 21%
    3. 22%
    4. 23%
    Answer And Explanation

    Answer: Option B

    Explanation:

    \begin{aligned}
    Gain\% = \\ \left( \frac{(100 + \text{common gain}\%)^2}{100} - 100 \right)\% \\
    = \left( \frac{(100 + 10)^2}{100} - 100 \right)\% \\
    = \left( \frac{12100 - 10000}{100}\right)\% \\
    = 21\%

    \end{aligned}

  • 28. The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs 3. The ratio of two selling prices is

    1. 51:52
    2. 52:53
    3. 53:54
    4. 54:55
    Answer And Explanation

    Answer: Option B

    Explanation:

    Let the Cost price of article is Rs. x

    Required ratio =
    \begin{aligned}
    \frac{104\% \text{ of } x}{106\% \text{ of } x} \\
    = \frac{104}{106} = \frac{52}{53} = 52:53
    \end{aligned}