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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