Profit and Loss

1.

A bought 5 pencils for Rs.4 and sells 4 pencils for Rs.4. The gain per cent in the transaction is 

   A.) 25%
   B.) 20%
   C.) 56 ¼%
   D.) 50%

Answer: Option 'B'

Out of 5 pencils the profit is 1 pencil;'
So, the gain per cent = 1 × 100/5 = 20%

2.

A shopkeeper bought an article for Rs.319.60. Approximately at what price should he sell the article to make 25 per cent profit?

   A.) 600
   B.) 500
   C.) 450
   D.) 400

Answer: Option 'D'

25% of CP should be added to the CP to get a profit of 25%.
25% of 319.60 = 319.60/4 = 79.9.
:. SP = 319.60 + 79.9 = 399.50. = Rs.400. approx.

3.

A man is paid 20 for each day he works and forfeits 3 for each day he is idle. At the end of 60 days he gets 280. Then, he was idle for 

   A.) 20 days
   B.) 25 days
   C.) 30 days
   D.) 40 days

Answer: Option 'D'

Let the man is idle for x days
Then, 20 (60-x) – 3x = 280
1200 – 23x = 280; then x =920/23 = 40
:. The man is idle for 40days.

4.

If 4 men or 6 boys can finish a work in 20 days. How long will 6 men and 11 boys take to finish the same work? 

   A.) 10 days
   B.) 6 days
   C.) 4 days
   D.) 3 days

Answer: Option 'B'

4 men = 6 boys 
Then, 1 boy = 4/6 men = 2/3 men 
11 boys = 2/3 × 11 men = 22/3 men 
Then, 6 men + 11 boys = 6 + 22/3 men = 40/3 men 
1 work done = 4 men × 20days 
That is, 4 × 20 = 40/3 × ? days
? days = 4 × 20 × 3/40 = 6 days

5.

An apple costs Rs.1.75 and an orange costs Rs.1.50. What will be the total cost of 3 dozens of apples and 2 dozens of oranges? 

   A.) Rs.99
   B.) Rs.63
   C.) Rs.36
   D.) Rs.100

Answer: Option 'A'

3 × 12 × 1.75 + 2 × 12 × 1.50 = Rs. 63 + Rs.36 =Rs.99.

6.

The profit earned after selling an article for 350 is the same as half of the loss incurred after selling the article for 260. What is the cost price of the article? 

   A.) 245
   B.) 292
   C.) 345
   D.) 320

Answer: Option 'D'

Let the profit = x.
Then, 350 – x = 260 + 2x;
x= 30; Cost Price = 350 – 30 = Rs.320.

7.

Arun ordered 15 chapatis, 4 plates of rice, 6 plates of mixed vegetables and 5 ice-cream cups. The cost of one chapatti is Rs.5, one plate of rice is Rs.50, one plate of mixed vegetables is Rs.75 and one ice-cream cup is Rs.20. How much amount did Arun pay to the cashier? 

   A.) Rs.850
   B.) Rs.795
   C.) Rs.825
   D.) Rs.750

Answer: Option 'C'

Total amount = 15 x 5 + 4 x 50 + 6 x 75 + 5 x 20
=75 + 200 + 450 + 100
= Rs.825.

8.

By selling a watch for Rs.640/-, a man loses 20% what is that watch cost price 

   A.) Rs.400/-
   B.) Rs.600/-
   C.) Rs.800/-
   D.) Rs.1000/-

Answer: Option 'C'

80 % ------> 640 (80 × 8 = 640) 
100 % ------>800 (100 × 8 = 800) 
Cost price = Rs. 800/-

9.

By selling a table for 350 instead of 400, loss per cent increase by 5%. The cost price of the table is

   A.) 1050
   B.) 417.50
   C.) 435
   D.) 1000

Answer: Option 'D'

The difference in prices = 400 – 350 = 50, which equal to 5% of the cost,
:. The cost price = 50 × 100/5 = 1000.

10.

The actual price of an article was Rs. 5000/- the successive discount on 10% and 20% then Finds the selling price 

   A.) Rs.2600/-
   B.) Rs.3600/-
   C.) Rs.4600/-
   D.) Rs.5600/-

Answer: Option 'B'

Note:Selling price = MRP × (100 - d1)/100 × (100 - d2)/100 * ------------- 
MRP = 5000/- , d1 = 10, d2 = 20 
Selling price = 5000 × (100 - 10)/100 × (100-20)/100 => 5000 × 90/100 × 80/100 
=> 450 × 8 = Rs.3600/- 

11.

A shopkeeper increases the original selling price of an item to its twice. The initial gain per cent is given as 8%. Find out the new gain per cent

   A.) 64%
   B.) 116%
   C.) 164%
   D.) 180%

Answer: Option 'B'

Let the Cost price = Rs.100
The initial gain per cent = 8%
So, original SP = 108
Twice the SP = 216
Then, the gain = 216 – 100 = 116 i.e. gain per cent = 116%.

12.

A television is brought for 13600 and sold at 15980. What is the gain per cent? 

   A.) 12.5%
   B.) 15%
   C.) 17.5%
   D.) 18.5%

Answer: Option 'C'

CP = 13600;          SP = 15980
Profit/ gain = 15980 – 13600 = 2380.
Gain percent = 2380 × 100/13600 = 17.5%.

13.

Kaavya sold an item for 4080 and incurred a loss of 20%. At what price should she have sold the item to have gained a profit of 20%? 

   A.) 6120
   B.) 5890
   C.) 5100
   D.) None of these

Answer: Option 'B'

Cost Price = 4080 × 100 /80          ( Because SP is 80% CP)
= Rs. 5100.
For 20% profit = Rs. 5100 + 1020 = 6120.

14.

Amit purchased a book with a 10% discount on the labeled price. How much did he pay if the labelled price was 600? 

   A.) 480
   B.) 360
   C.) 540
   D.) 340

Answer: Option 'C'

Selling Price = 600 – 10% of 600 = 600 – 60 = 540.

15.

The marked price of an article is 10% more than the cost price and a discount of 10% is given on the market price Rs.1400/-. In this kind of sales the seller: 

   A.) bears no loss and gain
   B.) gains1%
   C.) loses1%
   D.) none

Answer: Option 'C'

Note:MRP= Selling price × 100/(100-d1) × 100/(100-d2) × -------
Selling price = Rs.1400/-,  d1 = 10 ,  d2 = 20
MRP = 1440 × 100/90 × 100/80 => Rs.2000/-

16.

Harkamal purchased 8kg of grapes at the rate of 70 per kg and 9 kg of mangoes at the rate of 55 per kg. How much amount did he pay to the shopkeeper?

   A.) 1400
   B.) 1505
   C.) 1055
   D.) 1005

Answer: Option 'C'

Cost of 8 kg grapes = 70 × 8 = 560.
Cost of 9 kg of mangoes = 55 × 9 = 490.
Total cost he has to pay = 560 + 490 = 1055.

17.

Ghanashyam purchased an article for 1850. At what price should he sell it so that 30% profit is earned? 

   A.) 2450
   B.) 2245
   C.) 2405
   D.) 2425

Answer: Option 'C'

The SP should be CP + 30% of CP = 1850 + 555 = 2405.

18.

If total cost of four tube lights and three bulbs is Rs.260 and the ratio between the cost of a tube light and a bulb is 5:2 respectively, what is the total cost of one tube light and six bulbs?

   A.) Rs.210
   B.) Rs.130
   C.) Rs.180
   D.) Rs.170

Answer: Option 'D'

Let the cost of 1 tube light = 5x and that 1 bulb = 2x.
Given 4 X 5x + 3 X 2x = Rs.260
26x = Rs.260. :.x = 10.
:. Cost of 1 tube light = Rs.50.
Cost of 1 bulb = Rs.20
:. 1 tube light + 6 bulbs = 50 + 6 x 20= Rs.170.

19.

Balls are bought at 9 for Rs.10/- and sold at 10 for Rs.9/-. Find the gain or loss percentage? 

   A.) 19%gain
   B.) 19%loss
   C.) 18%loss
   D.) 18%gain

Answer: Option 'B'

9 balls -----> Rs.10/- 
10 balls ----> Rs.9/- 
Note: In every time same in the cost price articles and selling price articles.
10(9  10) ==> 90  100 = Cost price 
9(10  9) ==> 90   81 = Selling price 
Then, 19/100 × 100 = 19 % Loss 

20.

A fruit seller buys lemons at 2 for a rupee and sells them at 5 for three rupees. His gain per cent is 

   A.) 5%
   B.) 9%
   C.) 16%
   D.) 25%

Answer: Option 'A'

Let the cost price of his commodity = Rs.100
Then the marked price = Rs.125
And the selling price = Rs.125 – 16% of 125 = Rs.125 -20 = Rs.105.
Thus, his actual profit =Rs.5 and gain percent = 5%


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