Question 1
Peter buys a bag at the price of Rs 27.50. After some days, he sells it at the price of Rs 28.90. What is the percentage of his gain?
A
7.19%
B
5.09%
C
5.55%
D
6.09%
Profit and Loss    
Discuss it


Question 1 Explanation: 
Cost price of the bag is Rs 27.50 and Selling price is Rs 28.90. So, Peter gains Rs (28.90 - 27.50) = Rs 1.40. Percentage of gain = (1.40/27.50 × 100)% = 140/27.5 % = 5.09 %
Question 2
Sam purchases a book at Rs 490 and sells it at Rs 465.50. What is the percentage of his loss?
A
6%
B
10%
C
5%
D
4%
Profit and Loss    
Discuss it


Question 2 Explanation: 
CP of the book = Rs 490.00. SP of the book = Rs 465.50. Loss = Rs (490.00 - 465.50) = Rs 24.50. Hence, the required percentage = (24.50/490 × 100)% = 5%.
Question 3
A bookseller gains a profit of 10% after selling a book at the price of Rs 27.50. If it is sold at the price of Rs 25.75, find out the percentage of loss or profit on the book.
A
Profit 3%
B
Loss 4%
C
Profit 5%
D
Loss 2%
Profit and Loss    
Discuss it


Question 3 Explanation: 
SP of the book = Rs 27.50 and he gains 10% profit on it. So, CP of the book = Rs (100/110 × 27.50) = Rs 25. If the book is sold at Rs 25.75, the seller will make a profit of Rs (25.75 - 25.00) = Rs 0.75. Therefore, percentage of profit = 0.75/25 × 100% = 3%.
Question 4
A shopkeeper sells an article at the price of Rs 1140 and incurs a loss of 5% on it. For him to gain a profit of 5% on the same article, at what price should the article be sold?
A
Rs 1200
B
Rs 1250
C
Rs 1260
D
Rs 1245
Profit and Loss    
Discuss it


Question 4 Explanation: 
Let the selling price be Rs a. We know, (100 - Percentage of loss):(Original SP) = (100 + Percentage of profit):(New SP). Then, (100-5):1140 = (100+5):a ⇒ 95:1140 = 105:a ⇒ a = (105×1140)/95 = 1260.
Question 5
After selling 33 meters of a cloth, a shopkeeper makes a gain equal to the selling price of 11 meters of the cloth. What is the percentage of his gain?
A
50%
B
45%
C
60%
D
55%
Profit and Loss    
Discuss it


Question 5 Explanation: 
Here, (SP of 33m)-(CP of 33m) = Gain = SP of 11m. This means, CP of 33m = (SP of 33m)-(SP of 11m) = SP of 22m. Let the CP of each meter be Re 1. Then, CP of 33m = Rs 33. SP of 11m = (SP of 22m)/2 = (CP of 33m)/2 = Rs 33/2. Percentage of Gain = Gain/CP × 100% = (SP of 11m)/(CP) × 100% = (33/2)/(33) × 100% = 50%.
Question 6
A product is sold at two consecutive discounts of 30% and subsequently 40%. If the product is sold for 1500, what is the marked price on product?
A
3500
B
3600
C
3550
D
3571
Percentages    Profit and Loss    
Discuss it


Question 6 Explanation: 
Say MP is the marked price => (70.MP/100)*(60/100) =1500 => 7*0.6 MP = 1500 => MP = 1500/0.42 = 3571
Question 7
A product is sold at two consecutive discounts of 30% and subsequently 40%. If the marked price on the product is 1500, What is the selling price of the product?
A
420
B
360
C
600
D
630
Percentages    Profit and Loss    
Discuss it


Question 7 Explanation: 
SP = (70*1500/100)*(60/100) = 0.42*1500 = 630
Question 8
For a shirt cost price is Rs. 400. Shopkeeper prints a tag on it with Markup% = 20% to earn a profit of 7.5%. What is markup?
A
60
B
40
C
80
D
100
Profit and Loss    
Discuss it


Question 8 Explanation: 
Markup :is the addon price to the cost price. MP = CP+ Markup Markup = 20% o CP = .20 * 400 = 80
Question 9
For a shirt cost price = 400Rs. Shopkeeper prints a tag on it with Markup% = 20% to earn a profit of 7.5%. What is marked price
A
480
B
500
C
520
D
600
Profit and Loss    
Discuss it


Question 9 Explanation: 
MP= CP +Markup = 400+80 = 480
Question 10
For a shirt cost price = 400Rs. Shopkeeper prints a tag on it with Markup% = 20% to earn a profit of 7.5%. How much profit shopkeeper earns?
A
Rs 40
B
Rs 50
C
Rs 60
D
Rs 30
Profit and Loss    
Discuss it


Question 10 Explanation: 
Profit = CP. Profit%/100 = 400 . 7.5/100 = 30
Question 11
Cost Price of a shirt is Rs 400. Shopkeeper prints a tag on it with Markup% = 20% to earn a profit of 7.5%. What is selling price of the shirt?

A
450
B
430
C
420
D
460
Profit and Loss    
Discuss it


Question 11 Explanation: 
SP = CP + Profit = 400 +30 = 430
Question 12
Cost Price of a shirt is Rs 400. Shopkeeper prints a tag on it with Markup% = 20% to earn a profit of 7.5%. What is discount amount?
A
Rs 80
B
Rs 100
C
Rs 50
D
Rs 60
Profit and Loss    
Discuss it


Question 12 Explanation: 
Discount = MP – SP = 480 – 430 = 50
Question 13
Cost Price of a shirt is Rs 400. Shopkeeper prints a tag on it with Markup% = 20% to earn a profit of 7.5%. How discount % shopkeeper offered on the shirt?
A
10.60 %
B
10.20 %
C
10.42 %
D
10.48
Profit and Loss    
Discuss it


Question 13 Explanation: 
Discount% = (Discount/MP).100 = 50*100/480 = 10.42%
Question 14
If cost price of 15 pen is equal to Selling price of 20 pens, what is the gain or loss percent?
A
25% Loss
B
25% Profit
C
30% Loss
D
30% Profit
Profit and Loss    
Discuss it


Question 14 Explanation: 
Suppose CP of 1 pen = x CP of 15 pen = 15x = SP of 20 pen SP of 1 Pen = 15x/20 SP of 15 Pen = 15x *15/20 (as we have to bring number of pens sold and purchased to be equal, so say we are considering everything for 15 pens) Loss on 15 pens = CP of 15 pen-SP of 15 pen = 15x – 225x/20 = 75x/20 Loss% = [Loss/CP]. 100 = [(75x/40)/15x]. 100 = 25%
Question 15
By selling 8 bananas a fruit seller gains the selling price of 1 banana. Calculate his profit percent.
A
14.9%
B
16.3%
C
15.4%
D
14.28%
Profit and Loss    
Discuss it


Question 15 Explanation: 
That means when he sells 8 bananas, he gets in return as a profit => overall he sold 7 (8 sold -1 received) Let CP of 1 banana = x Rs Means  CP of 7 banana will be 7x Rs SP of 8 bananas = 8x Profit = 8x-7x = x Profit% = (x/7x) * 100 = 14.2857%
Question 16
A fruit seller sells all his bananas at the cost price but gives 15% less bananas as he should give. Find his profit percentage?
A
17.64%
B
15.64%
C
18.60%
D
14.45%
Profit and Loss    
Discuss it


Question 16 Explanation: 
let 100 bananas are there. Banans left = 15% = 15 bananas So, bananas sold = 100-15 = 85 On 85 bananas sold, he gets 15 bananas as profit Profit % = [bananas left / bananas sold]* 100 = [15/85]*100 = 17.64%
Question 17
A person bought 3 Oranges for 2 Rs and sold 2 Oranges for 3 Rs. Calculate his Profit percentage?
A
100%
B
150%
C
120%
D
125%
Profit and Loss    
Discuss it


Question 17 Explanation: 
3 Oranges bought for 2 Rs --> 6 Oranges bought for 4 Rs 2 Oranges sold for 3 Rs --> 6 Oranges sold for 9 Rs. 6 Oranges, CP = 4 Rs, SP = 9 Rs --> Profit = 5 Rs
  • Profit Percentage = [5/4]*100 = 125%
Note: Always remember to equate things (Oranges in this case), not money.
There are 17 questions to complete.

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