QUESTION ON PROFIT AND LOSS

Q1. A milkman buys two cows for Rs. 750. He sells first cow at a profit of 22% and the second cow at a loss of 8%. What is the SP of second cow if in the whole transaction there is no profit no loss? (a) Rs. 312 (b) Rs. 506 (c) Rs. 484 (d) Rs. 532 (e) None of these Q2. Sum of CP’s of two cows is Rs. 13, 000. Both the cows are sold at a profit of 20% and 40% respectively with their SP’s being the same. What is the difference of CP’s of both the cows? (a) Rs. 1,000 (b) Rs. 2, 000 (c) Rs. 1, 500

(d) Rs. 2, 500 Q3. A shopkeeper sells his gods at its CP only. But he uses 750 g weight at the place of 1000 g weight for a kg. What is his net profit percentage? (a) 25% (b) 20% (c) 16.66% (d) 33.33% (e) None of these Q4. A seller calculated his intended selling price at 6% profit on the cost of a product. However owing to some mistake while selling, the units and tens digits of the selling price got interchanged. This reduced the profit by Rs. 9 and profit percentage to 2.4%. What is the cost price of the product? (a) Rs. 240 (b) Rs. 250 (c) Rs. 400 (d) Rs. 480 (e) None of these Q5. Anoop sells a book to Mayank at a profit of 20% and Mayank sells this book to Siddharth at a profit of 25%. Now Siddharth sells this book at a loss of 10% to Shishir. At what percentage loss should Shishir sells this book now so that his SP becomes equal to Anoop’s CP? (a) 36.68% (b) 25.92% (c) 48.66 (d) Cannot be determined (e) None of these Q6. There is some profit when an article is sold for Rs. 720. However when the same article is sold for Rs. 420, there is some loss. If the

quantum of loss is two times the quantum of profit, find the cost price of the article. (a) Rs. 620 (b) Rs. 700 (c) Rs. 520 (d) None of these (e) Cannot be determined Q7. A shopkeeper purchases a packet of 50 pencils at Rs 10 per pencil. He sells a part of the packet at a profit of 30%. On the remaining part, he incurs a loss of 10%.If his overall profit on the whole packet is 10%, the number of pencils he sold at profit is (a) 25 (b) 30 (c) 20 (d) 15 (e) None of these Q8. Two lots of oranges with equal quantity, one costing Rs. 20 per dozen and the other costing Rs. 30 per dozen, are mixed together and the whole lot is sold at Rs. 24 per dozen. Then what is the profit or loss? (a) 4% profit (b) 5.6% profit (c) 4% loss (d) 5.6% loss (e) None of these Q9. A shopkeeper marks up the price of his product by 40%. If he increases the discount from 5% to 10% ,the profit would decrease by Rs 14. How much profit would he earn if he gives a discount of 20% on the marked price? (a) Rs. 56 (b) Rs. 28 (c) Rs. 32

(d) Rs. 24 (e) None of these Q10. A group of students prepared stuffed toys as part of their group activity. They spent Rs. 100 on velvet, Rs 5 on thread and needle and Rs. 27 on miscellaneous items. They made 30 toys, 50% of which were purchased by force by some senior students causing them a loss of50%. At what % profit should they sell the remaining toys so as to gain 50% on their total cost? (a) 100% (b) 150% (c) 75% (d) 50% (e) None of these Q11. A shopkeeper marks up his goods by 20% and then gives a discount of 20%. Besides he cheats both his supplier and customer by 100 g, i.e., he takes 1100 g from his supplier and sells only 900 g to his customer. What is his net profit percentage? (Rounded off to two decimal points) (a) 24.5% (b) 17.33% (c) 25% (d) 32.5% (e) None of these Q12. Some mangoes are purchased at the rate of 8 mangoes/Rs and some more mangoes at the rate of 6 mangoes/Rs, investment being equal in both the cases. Now, the whole quantity is sold at the rate of 7 mangoes/Rs What is the net percentage profit/loss? (a) 0.6% profit (b) 0.6% loss (c) 1.2% loss (d) N0 profit/no loss (e) None of these

Q13. A man would gain 25% by selling a chair for Rs. 47.5 and would gain 15% by selling a table for Rs. 57.5. He sells the chair for Rs. 36; what is the least price for which he must sell the table to avoid any loss on the two together? (a) Rs. 51.2 (b) Rs. 58.5 (c) Rs. 62.5 (d) None of these (e) Cannot be determined Q14. A bookseller marks his books at an advance of 69% on the actual cost of producton He allows a discount of 15% and also given a copy free for every dozen sold a a time. What rate per cent profit does the book seller make, if books are sold in lots of 12? ( upto one decimal point) (a) 32.6 (b) 47.5 (c) 24.9 (d) None of these (e) Cannot be determined Q15. Amar sold his moped to Bharat at 20% profit and Bharat sold it to Sridhar at 10% profit. Sridhar sold the same to a mechanic and received Rs 2,316. If Amar had sold the same moped to the mechanic and receive the same amount the mechanic paid to Sridhar, what profit percentage would Amar have made? (a) 52% (b) 48% (c) 33.3% (d) Cannot be determined (e) None of these

Question 1 A shopkeeper bought 480 gift articles at the rate of Rs. 18000. He sold each one of them at the rate of Rs. 66. What was his profit percentage? a) 68% b) 76% c) 81% d) 69% Answer : b) 76% Solution : Cost price of 480 articles = Rs 18000 Then C.P of each article = Rs. 18000/480 = Rs. 37.5 S.P of each article = Rs.66 Therefore profit % = {(S.P - C.P)/C.P}x100 % = (66-37.5)x100/37.5 % = (28.5x100)/37.5 % = 2850/37.5 = 76 % Hence the required profit is 76%. Question 2 A man buys a computer for Rs. 28000 and sells it at a loss of 30%. What is the selling price of the computer? a) Rs.21100 b) Rs.18900 c) Rs.22800 d) Rs.19600 Answer : d) 19600 Solution : Cost price of the computer = Rs.28000 Given loss % = 30%

Loss amount = 30 x 28000/100 = Rs.8400 Therefore, selling price = cost price - loss = Rs. 28000 - 8400 = Rs.19600. Alter method: We know that, "If an item sold at X% of loss, then its S.P = (100-X)% of C.P" Here, X = 30 and C.P = 28000 Then, S.P = (100-30)% of 28000 = 70x28000/100 = Rs.19600 Question 3 A man purchased 8 Electronic items at Rs.1000 per item. He spent Rs.5000 on repair and Rs.1000 on transportation of these items. What should be the selling price of each item if he wants to make 255 as profit? a) 2600 b) 2550 c) 2570 d) none of these Answer : d) none of these Solution : Cost price of each item = Rs. 1000 Then, cost price of 8 items = Rs.8000 The amount that he spent on repair and transportation = Rs. 5000 + Rs. 1000 = Rs.6000 Therefore, the total cost price of 8 items = Rs.8000 + Rs 6000 = Rs.14000 Given profit, 25% We know that, if profit = X% then S.P = (100+X)% of C.P Therefore, selling price of 8 items = (100+25)% of 14000 = 125x14000/100 = Rs.17500 And the S.P of each item = Rs.17500/8 = Rs.2187.5. Hence the required answer is option d.

Question 4 When an article is sold for Rs. 312.96, there is a loss of 4%. What is the cost price of the article? a) Rs.321 b) Rs.322.5 c) Rs.323.75 d) Rs.326 Answer : d) Rs.326 Solution : Given that, the selling price of the article = Rs. 312.96 Loss = 4% We know that, "If an item sold at X% of loss, then its S.P = (100-X)% of C.P" Here X = 4 and S.P = Rs.312.96 Therefore, 312.96 = (100-4)% of C.P = (96/100)xC.P C.P = 312.96x100/96 = 326. Hence the required Cost price is Rs.326

HARD QUESTION Ques 1. Successive discounts of 10% ,12% and 15% amount to a single discount of : (a) 36.68% (b) 35.28% (c) 32.68% (d) 30.28% Ques 2. Marked price of an article is Rs. 2000 and it is being sold at successive discounts of 20% and 10% its net selling price will be : (a) Rs. 1700

(b) Rs. 1520 (c) Rs. 1440 (d) Rs. 1400 Ques 3. A businessman marked his price of his commodity so as to include a profit of 25%. He allowed discount of 16% on the marked price . What was is actual profit ? (a) 25% (b) 16% (c) 9% (d) 5% Ques 4. A trader sells a badminton racket, whose labelled price is Rs.30, at a discount of 15% and gives a shuttle cock costing Rs.1.50 free with each racket . Even then he makes a profit of 20% . What is cost price of a racket ? (a) Rs. 21.25 (b) Rs. 21 (c) Rs. 20 (d) Rs. 19.75 Ques 5. A tradesman marked his goods at 20% above the cost price . He sold half the stock at the marked price, one quarter at a discount of 20% on the marked price and the rest at a discount of 40% on the marked price. Ultimately what is his total gain ? (a) 15% (b) 13.5% (c) 4.5% (d) 2% Ques 6. Kaushal bought a suitcase wit 15% discount onnthe marked price. He sold the suitcase for Rs. 2880 with

20% profit on the marked price. At what price did he buy the suitcase ? (a) Rs 2640 (b) Rs. 2604 (c) Rs. 2400 (d) Rs. 2040 Ques 7. The marked price of cupboard is Rs. 6500. The trader sold it by giving 5% discount on the marked price and earned aa profit of 15 % . What approximately is the cost price of the cupboard? (a) Rs. 5800 (b) Rs. 5600 (c) Rs. 5350 (d) Rs. 5000 Ques 8. A dishonest dealer uses a scale of 90 cm instead of meter scale and claims to sell at cost price. What is his profit per cent ? (a) 12% (b) 11 1/9 % (c) 10% (d) 9% Ques 9. If a company sells a car with labelled price of Rs. 2,72,000 and gives a discount of 4% on Rs. 2,00,000 and 2.5% on the remaining amount of Rs. 72,000, then what is the actual price charged by the company for the car ? (a Rs. 2,62,000 (b) Rs. 2,60,000 (c) Rs. 2,55,000 (d) Rs. 2,50,000 Ques 10.

A man purchases 90 clocks and sells 40 clocks at a gain 10% and 50 clocks at a gain of 20% .If he sold all of them at a uniform profit of 15% then he would have got Rs. 40 less. What is the cost price of each clock ? (a) Rs. 90 (b) Rs.80 (c) Rs. 60 (d) Rs. 50 Solutions Ans 1. let original value = Rs. 100; then S.P = 90/100 X 88/100 x 85/100 = Rs. 67.32 Hence , amount of single discount = 100 - 67.32 = 32.68% Ans 2. Net S.P = 80/100 X 90/100 X 2000 = Rs. 1440 Ans 3. Let C.P . = Rs. 100; then marked price = Rs. 125 Hence, S.P. = 84/100 X 125 = Rs. 105 Since, actual profit = 105-100 = 5% Ans 4. S.P. = 85/100 x 30 -1.50 = 25.50- 1.50 = Rs. 24 Required C.P . = 100/120 X 24 = Rs. 20 Ans 5. Let C.P = Rs.100, then marked price = Rs. 120 Since , S.P = 60 + 1/4 X 80/100 X 120 + 1/4 X 60/100 x 120 = 60 + 24 + 18 = Rs. 102 Hence, gain% = 102 - 100 = 2% Ans 6. Marked price = 100/120 x 2880 = Rs. 2400 C.P. for kaushal = 85/100 X 2400 = Rs. 2040 Ans 7. Required C.P. = 95/100 x 100/115 x 6500 = Rs. 5369.56 = Rs. 5350. Ans 8. Required profit % = 100-90 / 90 X 100 = 10/ 90 x 100 = 11 1/9% Ans 9.Actual price = 96/100 x 2,00,000 + 97.5/100 x 72,000 = 1,92,000 + 70,200 = Rs. 2, 62,200 Ans 10. Let C.P of each clock = Rs.x ; then C.P of 90 clocks = Rs. 90x In Ist condition ,

S.P . of 90 clocks = 40 x 110/100 x + 50 x 120/100 X x = Rs. 104x. In IInd case, S.P of 90 clocks = 115 /100 x 90x = Rs. 207x/2 Since, 104x - 207x/2 = Rs. 40 => x/2 = 40 ∴ x= Rs.80