Profit and Loss - Excercise 1

Questions

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

  • 12.00%
  • 30.00%
  • 50.00%
  • 60.00%
4
The Correct answer is :50.00%

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
Gain %= ${\left(\begin{array}{c}\frac{Gain}{Cost}\times100\end{array}\right)}$ %
${\left(\begin{array}{c}\frac{4}{8}\times100\end{array}\right)}$% = 50%

2.   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.

  • 14
  • 15
  • 16
  • 17
4
The Correct answer is :16

Let the cost price 1 article = Re 1
Cost price of x articles = x
S.P of x articles = 20
Gain =20-x 25 =${\left(\begin{array}{c}\frac{20-x}{x}\times100\end{array}\right)}$
${(2000-100x=25x)}$ =16

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

  • 20.00%
  • 25.00%
  • 30.00%
  • 35.00%
4
The Correct answer is :25.00%

Let the Cost Price of 1 item = Re. 1
Cost Price of 16 items = 16
Selling Price of 16 items = 12
Loss = (16-12 )=4
Loss% =${\frac{4}{16}\times100}$= 25 %

4.   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

  • Rs. 750
  • Rs. 800
  • Rs. 850
  • Rs. 900
4
The Correct answer is :Rs. 800

Let the cost of Production = Rs. P
Then, as per question,
${\left(\begin{array}{c}\frac{125}{100}\end{array}\times\frac{115}{100}\times\frac{110}{100}\times P\right)}$ = 1265
=> ${ \frac{253}{160}P}$ = 1265
=> P =800

5.   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

  • 4.00%
  • 5.00%
  • 6.00%
  • 7.00%
4
The Correct answer is :7.00%

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

6.   A pair of articles was bought for Rs. 37.40 at a discount of 15%. What must be the marked price of each of the articles ?

  • Rs 15
  • Rs 20
  • Rs22
  • Rs 25
4
The Correct answer is :Rs22

As question states that rate was of pair of articles,
So rate of One article = ${\frac{37.40}{2}}$ = Rs 18.70
Let Marked price = Rs Xnthen 85% of X = 18.70
X=${\frac{1870}{85}}$ =22

7.   A shopkeeper fixes the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is

  • 18.00%
  • 20.00%
  • 22.00%
  • 24.00%
4
The Correct answer is :20.00%

Let the cost price = Rs 100
then, Marked price = Rs 135
Required gain = 8%,
So Selling price = Rs 108
Discount = 135 - 108 = 27
Discount % = ${\frac{27}{135}\times100}$ = 20%

8.   If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425, what is the greatest possible profit that might be made in selling eight books ?

  • 600
  • 1200
  • 1800
  • none of these
4
The Correct answer is :1800

Least Cost Price = Rs ${(200\times8)}$ = Rs 1600
Greatest Selling Price = Rs. ${(425\times8)}$= Rs 3400
Required profit = Rs. (3400-1600) = Rs 1800

9.   Ajay bought 15 kg of dal at the rate of Rs 14.50 per kg and 10 kg at the rate of Rs 13 per kg. He mixed the two and sold the mixture at the rate of Rs 15 per kg. What was his total gain in this transaction ?

  • 1.1
  • 10
  • 16.5
  • 27.5
4
The Correct answer is :27.5

Cost price of 25 kg = (15 x 14.50+10 x 13) = Rs 347.50
Sell price of 25 kg = Rs. (25 x 15) = Rs 375
Profit = Rs (375-347.50) = Rs 27.50

10.   A man buys oranges at Rs 5 a dozen and an equal number at Rs 4 a dozen. He sells them at Rs 5.50 a dozen and makes a profit of Rs 50. How many oranges does he buy?

  • 30 dozens
  • 40 dozens
  • 50 dozens
  • 60 dozens
4
The Correct answer is :50 dozens

Cost Price of 2 dozen oranges Rs (5+4) =9
Sell price of 2 dozen oranges = Rs. 11.
If profit is Rs 2, oranges bought = 2 dozen
If profit is Rs. 50, oranges bought = ${\frac{2}{2}\times50}$ =50 dozens

11.   A trader sold an article at a loss of 5% but when he increased the selling price by Rs.65 he gained 3.33% on the cost price. If he sells the same article at Rs. 936, what is the profit percentage?

  • 15.00%
  • 16.66%
  • 20.00%
  • data insufficient
4
The Correct answer is :20.00%

103.33 C.P -0.95 C .P =65
C.P =Rs 780
Profit(%)= ${\frac{936-780}{780}\times100}$ = 20%

12.   In what ratio should water and wine be mixed so that after selling the mixture at the cost price a profit of 33.33% is made?

  • 1.4
  • 1.3
  • 2.3
  • 3.4
4
The Correct answer is :1.3

33.33% profit means there is one part water and 3 part is pure wine.
so the required ratio of water and wine in the mixture is 1:3

13.   A milkman has 20 liters of milk. If he mixes 5 liters of water, which is freely available, in 20 liters of pure milk. If the cost of pure milk is Rs. 18 per litre, then the profit of the milkman, when he sells all the mixture at A cost price, is:

  • 20.00%
  • 25.00%
  • 33.33%
  • 18.00%
4
The Correct answer is :25.00%

When the water is freely available and all the water is sold at the price of the milk,
Then the water gives the profit on the cost of 20 litres of milk.
Therefore, profit percentage = ${ \frac{5}{20}\times100}$ = 25%n

14.   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

  • 51:52
  • 52:53
  • 53:54
  • 53:54
4
The Correct answer is :52:53

Let the Cost price of article is Rs. X
Required ratio = ${\frac{104}{106}}$=
${\frac{52}{53}}$= 52:53

15.   Rahim buys mangoes at the rate of 3 kg for Rs 21 and sells them at 5 kg for Rs 50. To earn Rs 102 as profit, he must sell

  • 26 kg
  • 34 kg
  • 32 kg
  • 56 kg
4
The Correct answer is :34 kg

Rate of buying 1 Kg = Rs.7
Rate of selling 1 Kg = Rs.10
To gain Rs.3, he must buy 1 kg
For Rs.102 profit, he must buy = ${\frac{102}{3}}$ = 34 Kg