Profit, Loss and Discount Test

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Profit, Loss and Discount Test - 6

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Question 1
1 / -0

Find the gain or loss percent, when:C.P. = Rs 350, Overhead expenses = Rs 15 and loss = Rs 146

A
10

B
20

C
30

D
40

Solution

Given CP = Rs. 3500, overhead expenses = Rs. 150 and loss = Rs.146
We know that Loss % = {(Loss/ (CP + overhead expenses)} x 100
= {146/ (350+ 15)} x 100
= {146/365} x 100
= 14600/365
Loss = 40%
Question 2
1 / -0

A floweriest buys 10 dozen roses at Rs 2 a dozen. By the time theflowers are delivered, 2dozen roses are mutilated and are thrown away. At whatprice should he sell the rest if he needs to make a 10% profit on his purchase?

A
2.75

B
1.45

C
3.75

D
4.52

Solution

Given cost of 1 dozen roses = Rs. 2
Number of roses bought by the florist = 10 dozens
Thus, cost price of 10 dozen roses = 2 x 10 = Rs. 20
Roses left after discarding the mutilated ones = 8 dozens
Calculating the price at which the florist should sell the 8dozen roses in order to make aprofit of 10%, wehave
Profit % = ((SP-CP)/CP) x100 = ((SP-20)/20) x 100
2 = SP –20
SP = Rs. 22
Therefore, the SP of theroses should be Rs. 22/8 = Rs.2.75 per dozen.
Question 3
1 / -0

Raj bought 40 dozen pencilsat Rs 10.80 a dozen and sold them for Rs. 0.8 each. Find his gain or losspercent.

A
9.11

B
10.11

C
11.11

D
12.11

Solution

Given Cost of 1 dozen pencils = Rs. 10.80
Therefore cost of 40 dozenpencils = 40 x10.80
= Rs. 432
Also given that selling price of each pencil = 80 paise
Total number of pencils = 12 x 40= 480
SP of 480 pencils = 480 x 80 paise
= 38400paise
= Rs. 384.
Here, clearly SP < CP.
Loss = CP – SP
= Rs. (432 – 384)
= Rs. 48
Loss % = (Loss/CP) x 100
= (48/432) x 100
= 4800/432
Loss = 11.11%
Question 4
1 / -0

Find the gain or loss percent, when:C.P. = Rs 230, Overhead expenses = Rs 30 and gain = Rs 26.

A
5

B
7

C
10

D
13

Solution

Given CP = Rs. 230, overhead expenses = Rs. 30 and gain = Rs. 26.
We know that Gain % = {(Gain/ (CP + overhead expenses)} x 100
= {26/ (230 + 30} x 100
= {26/260} x 100
Gain = 10%
Question 5
1 / -0

A shopkeeper makes a profitof 10% by selling a book for Rs300. What is the C.P. and the actual profit?

A
18.9

B
27.3

C
24.7

D
29.4

Solution

Given that the SP of a book = Rs. 300
Profit % = 10
Since
CP = (SP x 100) / (100+ profit %)
CP = (300x 100)/ (100 +10)
CP = 30000 / 110 = Rs. 272.7
Also, Profit = SP – CP = Rs. (300– 272.7) = Rs.27.3
Actual profit = Rs. 27.3
Question 6
1 / -0

Radha purchased a gift for Rs 84and sold it to her friend Ritu forRs 91. Find her gain percent.

A
8.3

B
6.6

C
7.5

D
5.4

Solution

Given, CP = Rs. 84
The price at which she sold it, SP = Rs. 91
Gain = SP – CP
= (91 – 84)
= Rs. 7
Now Gain % = (Gain/CP) x 100
= (7/84) x 100
= 700/84
Gain = 8.3%
Question 7
1 / -0

A grain merchant sold 60quintals of rice at a profit of 7%. If a quintal of rice cost him Rs 25 and histotal overhead charges for transportation, etc. were Rs 10 find his totalprofit and the selling price of 60 quintals of rice.

A
1615.7

B
1515.7

C
1415.7

D
1315.7

Solution

Given Cost of 1 quintal of rice = Rs. 25
Cost of 60 quintals of rice = 60 x 25 = Rs. 1500
Overhead expenses = Rs. 10
CP = Rs. (1500 + 10)= Rs. 1510
Profit % = (Profit/CP) x 100
7 = (Profit /1510) x 100
Profit = 1510 x 7/100
Profit = Rs. 105.70
Now SP = CP + profit
= Rs. (1510 + 105.70)
SP = Rs. 1615.70
Question 8
1 / -0

Jyotsana bought 480 eggs at Rs12 a dozen. At what price per hundredmust she sell them so as to earn a profit of 10%?

A
600

B
425

C
528

D
412

Solution

Given cost of eggs per dozen = Rs. 12
Cost of 1 egg = 12/12
= Rs. 1
Cost of 480 eggs = 480 x 1 = Rs. 480
Calculating the price at which Jyotsana should sell the eggs toearn a profit of 10%,
We get 10% of 480 + 480
= {(10/100) x480} + 480
= {4800/100}+ 480
= 48 + 480
= Rs. 528.
Question 9
1 / -0

Harish purchased 50 dozenbananas for Rs 135. Five dozen bananas could not be sold because they wererotten. At what price per dozen should Harish sell the remaining bananas sothat he makes a profit of 20%?

A
2.5

B
1.7

C
3.6

D
3.8

Solution

Given cost price of 50 dozens bananas that Harish purchased, CP= Rs. 135
Bananas left after removing 5 dozen rotten bananas = 45 dozens
Effective CP of one dozen bananas = Rs. 135/45 = Rs. 3
Calculating the price at which Harish should sell each dozenbananas to make a profit of 20% (or 1/5), we get
Profit % = (Gain/CP) x100
To get a gain of 20% we give profit % = 20
And substitute 20 = (gain/135) x100
Gain = 270/10 = 27
We know; SP = CP + Gain
SP = 27 + 135
SP = 162
Now that SP is for 45 Dozens of bananas
Calculating for one dozen
= 162/45
= Rs. 3.6
Harish should sell the bananas at Rs. 3.60 a dozen in order tomake a profit of 20%.
Question 10
1 / -0

A bookseller sells all hisbooks at a profit of 10%. If he buys a book from the distributor at Rs100, how much does he sell it for?

A
220

B
110

C
90

D
100

Solution

Given profit % = 10% CP = Rs. 100
Since SP = {(100 + profit %) /100} x CP
= {(100 + 10)/100} x 100
= {110/100} x 100= Rs. 110
The bookseller sells the book for Rs. 110.
Question 11
1 / -0

By selling an article for Rs 24, a man makes a profit of 20%.What is hisC.P.? What would his profit percent be if he sold the article for Rs 27.5?

A
37.5

B
32.5

C
27.5

D
30.5

Solution

Let CP = Rs. x SP = Rs. 24
Let profit be Rs. P.
Now, profit % = 20%
Since Profit % = (Profit/CP) x 100
20 = (P/x) x 100
P = 20x/100 = x/5
Profit = SP – CP = 24 – x
P = 24 – x
x /5 = 24 – x
24= x + x/5
24 = 6x/5
x = 120/6
x = 20
So, CP = Rs. 20
New SP = Rs. 27.5and CP = Rs. 20
Profit % = {(SP – CP)/CP} x 100
{(27.5 –20)20} x 100 = (75/200) x 100
= 7500/200
= 37.5%
Question 12
1 / -0

Nitu buys eggs at Rs52 per two dozen and sells them at 10 for Rs26. Find his gain percent.

A
23.87

B
20.3

C
15.7

D
18.7

Solution

Given CP of 1 dozen eggs= Rs. 26
CP of 1 egg =26/12
= Rs. 2.16
CP of 5 egg = 2.16x 5
= Rs. 10.8
Now, SP of 5 eggs= Rs. 13
Gain = SP – CP
= Rs. (13- 10.8)
= Rs. 2.2
Gain %= (Gain/CP) x 100
= (2.2/10.8) x 100
Gain = 20.3%
Question 13
1 / -0

Dipak makes a 10% profit by selling a watch costing him Rs 1200. What is the selling price?

A
1320

B
1440

C
1250

D
1300

Solution

CP = Rs. 1200
Profit % = 10
We now that
SP = {(100 + profit %) /100} x CP = {(100+ 10)/100} x 1200
= {(110/100)} x 1200= 1.1 x 1200
= Rs. 1320
Question 14
1 / -0

Sachin bought 5 dozen oranges at Rs 6.40 a dozen. Out of these 2oranges were found to be rotten. She sold the remaining oranges at 55 paise per orange. Find her gain or loss percent.

A
0.31

B
0.35

C
0.42

D
0.33

Solution

Given cost of one dozenoranges= Rs. 6.40
Cost of 5 dozen oranges= 5 x 6.40 = Rs. 32
Total number of orange =5 x 12 = 60
Number of orange leftafter removing the rotten ones =60– 2= 58
SP of 1 oranges = 55paise
So, SP of 58oranges= 58x 55 =3190 paise
= Rs. 3190/100
= Rs. 31.9
Loss = CP – SP
= Rs. (32 – 31.9)= Rs. 0.1
Loss % = (Loss/CP) x 100
= (1/320) x 100
Loss = 0.31%
Question 15
1 / -0

Aditya bought a scooty for Rs 36500 and spent Rs 13500 on its repairs. Ifhe sold it for Rs 55000, find his gain percent.

A
25

B
20

C
15

D
10

Solution

Given Aditya spent topurchase the scooty = Rs.36500
Amount he spent on repair = Rs. 13500
Total amount he spent on the scooty(CP) = Rs. (36500 + 13500)
= Rs. 50000
Given SP of the scooty= Rs. 55000
Gain = SP – CP
= Rs. (55000 – 50000)
= Rs. 5000
Gain % = (Gain/CP) x 100
= (5000/50000) x 100
= 500000/50000
Gain = 10%

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Re-Attempt Weekly Quiz Competition

Profit, Loss and Discount Test - 6

Result

Profit, Loss and Discount Test - 6

Score

-

Rank

-

SHARING IS CARING

Question 1

10

20

30

40

Solution

Question 2

2.75

1.45

3.75

4.52

Solution

Question 3

9.11

10.11

11.11

12.11

Solution

Question 4

5

7

10

13

Solution

Question 5

18.9

27.3

24.7

29.4

Solution

Question 6

8.3

6.6

7.5

5.4

Solution

Question 7

1615.7

1515.7

1415.7

1315.7

Solution

Question 8

600

425

528

412

Solution

Question 9

2.5

1.7

3.6

3.8

Solution

Question 10

220

110

90

100

Solution

Question 11

37.5

32.5

27.5

30.5

Solution

Question 12

23.87

20.3

15.7

18.7

Solution