12

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?
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
There are 17 questions to complete.
12

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