Profit and Loss
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?
7.19%  
5.09%  
5.55%
 
6.09%

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?
6%  
10%  
5%  
4% 
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.
Profit 3%  
Loss 4%  
Profit 5%  
Loss 2% 
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?
Rs 1200  
Rs 1250  
Rs 1260  
Rs 1245 
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,
(1005):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?
50%  
45%  
60%  
55% 
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?
3500  
3600  
3550  
3571 
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?
420  
360  
600  
630 
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?
60  
40  
80  
100 
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
480  
500  
520  
600 
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?
Rs 40  
Rs 50  
Rs 60  
Rs 30 
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?
450  
430  
420  
460 
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?
Rs 80  
Rs 100  
Rs 50  
Rs 60 
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?
10.60 %  
10.20 %  
10.42 %  
10.48 
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?
25% Loss  
25% Profit  
30% Loss  
30% Profit 
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 penSP 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.
14.9%  
16.3%  
15.4%  
14.28% 
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 = 8x7x = 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?
17.64%  
15.64%  
18.60%  
14.45% 
Discuss it
Question 16 Explanation:
let 100 bananas are there.
Banans left = 15% = 15 bananas
So, bananas sold = 10015 = 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?
100%  
150%  
120%  
125% 
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%
There are 17 questions to complete.