PROFIT AND LOSS

Q1. Salim loses 10% by selling a chair for Rs 200. What is his cost price?

(a). 181.81 (b). 220

(c). 225.5 (d). 222.22

Q2: Sarita purchased a house for Rs.750000 and a piece of land for Rs.150000. If she sold the house for 830000 and the land for 110000, how much percentage profit or loss did she make on both the transactions together?

(a). a. 5.24% (b). 4%

(c). 4.44 % (d). 6.44%

Q3: A vendor bought 500 eggs at Rs. 4 per 10 eggs. Of these, 50 eggs were found to be broken. If he sold the remaining eggs at Re 0.55 per egg, how much did he gain or lose?

(a). a. Rs 47 (b). Rs. 47.5

(c). Rs. 50 (d). Rs. 40

Q 4. Kapil buys 25 chairs for Rs. 375 and sells them at a profit equal to the selling price of 5 chairs. What’s the selling price of each chair?

(a). Rs 27 (b). Rs. 17.5

(c) Rs. 18.75 (d) Rs. 20

Q5. A detergent company runs a scheme for the wholesalers, if they buy dozen packs for Rs. 120, they will get one pack free. If wholesaler sells each pack for Rs. 10, what is his profit percent?

(a). 8.55% (b). 8.34%

(c). 3.84% (d). 4.83%

Q6. Ravi bought 50 tables and sold 15 of them at a gain of 20 %, 25 at a gain of 16 % and the rest at the CP. Had he sold all at a gain of 18 %, he would have got Rs 560 more. Find the CP of one table.

(a). Rs 820 (b). Rs. 247

(c) Rs. 818 (d). Rs. 280

Q7. Ravi sold one book for Rs. 75 and made profit percentage equal to the cost price. Find the cost price

(a). Rs 65 (b). Rs 56

(c). Rs 50 (d). Rs 45

Q8. Ram sells tea at a profit of 5%, If he increase price of tea by 10% and sources from a vendor who gives him 5% less than what he was sourcing at. What is his new profit percent?

(a). 21.81% (b). 21.57%

(c). 22.55% (d). 22.52%

Q 9. A shopkeeper uses weight of 0.950 kg as one kg while selling items, what is his gain percent?

(a). 4.18% (b). 3.22%

(c). 4.22% (d). 5.26%

Q10. A shopkeeper increases increase the selling price of his articles by 10 % and then reduces it by 10 %. Again he does the same thing. Finally the selling price of the articles comes down to 1944.75. What was the original selling price? (CAT QUESTION)

(a). 1984.75 (b). 2000

(c). 2500 (d). 2148.75

Solutions to unsolved exercise:

Ans1. (d)

SP =200, using basic formula (SP-CP)/CP x 100 = 10

(200-CP)/CP x 100 = 10

CP = 200 x 100/90 = 222.22

Ans2 (c)

Cost of house = 750000. Cost of land = 150000

Total cost = 900000

SP of the house = 830000, SP of Land = 110000

Total SP = 940000

Net gain = 900000 – 940000 = 40000

Gain percent = 40000/900000 x 100 = 4.44 %

Ans3. (b).

No. of eggs = 500, cost price = 4/10 eggs

Total cost price = 500 x 4/10 = Rs. 200

Since 50 were broken and therefore 450 were sold for Re. 0.55 per egg

Total SP = 450 x 0.55 = 247.50

Net profit = 247.5 – 200 = 47.50

Ans 4. (c)

CP of 25 chairs is Rs. 375, therefore cost of one chair = 375/25 = Rs.15

Now, Gain = SP of 5 chairs

Therefore SP of 25 chairs – CP of 25 chairs = SP of 5 chairs

SP of 20 chairs = CP of 25 chairs

Sp of 20 chairs = 375, SP of 1 chair = 375/20 = 18.75

Ans5. (b).

Price of 12 packs = 120, getting one pack free

Therefore, Price of 13 packs = 120, price of one pack = 120/13 = 9.23

SP is given to be Rs. 10

Net profit per pack = 10 – 9.23

= 0.77

Profit percent = 0.77/9.23 x 100 = 8.34%

Ans 6. (d).

Let Ravi bought the tables at Rs. 100, therefore total cost price = 5000

He sold 15 of them at gain of 20%, there each table at Rs. 120

15 tables for 15 x 120 = 1800

He sold 25 of them at gain of 16%, there each table at Rs. 116

15 tables for 25 x 116 = 2900

He sold rest at cost price, therefore 10 at Rs. 100 = 1000

Total SP = 1800 + 2900 + 1000 = 5700

In case he sold tables at 18% gain, which is 118

Total SP = 118 x 50 = 5900

Here he made 5900 – 5700 = Rs. 200 more

If he made 200 more then CP is 100

If he made 1 more then CP is 100/200

If he made 560(as given) more then CP is 100/200 x 560 = 280

Ans7. (c).

SP = 75, gain percent = CP

That is (SP- CP)/CP x 100 = CP, putting SP, (75- CP)/CP x 100 = CP

CP² +100CP -7500 = 0

Solving the quadratic equation, CP = Rs. 50

Ans 8. (b).

Let’s assume Ram was buying tea for Rs. 100

Now he buys at 95 (5% less)

He was selling tea for 105 (5% profit)

Now he is selling at 15% more that is 1.15 x 105 = 115.50

Net profit = 115.50 – 95 = 20.50

Profit percent = 20.50 / 95 x 100 = 21.57%

Ans 9. (d).

He gives 950 grams and charges for 1000 grams

Therefore he is saving for 50 gms

So profit percent = 50/950 * 100 = 5.26%

Alternatively by formula = Error/(true value – error) x 100

= 50/(1000-50) x 100 = 5.26%

Ans10. (a) 1984.75

Suppose original S.P = Rs x

First S.P after first 10% increase = Rs 1.1x

S.P after further 10% decrease = Rs (1.1x – 0.1 x 1.1x ) = Rs 0.99x

Second S.P after first 10% increase = Rs (1.1 x 0.99 ) = Rs 1.089x

S.P after further second 10% decrease = Rs ( 0.9 x 1.089x )

= Rs 0.9801x

By hypothesis 0.9801x = 1944.75

or x = 1944.75/0.9801 = Rs 1984.75