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Profit And Loss Test-1

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Profit And Loss Test-1
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  • Question 1
    1 / -0.25

    A person saves 20 percent of his income. If the income of that person increased by 16 percent and he decided to save 25 percent, then find the percent increase in his saving as compared to previous one.

    Solution

    Let initial income = 100 so his saving is rupees = 20.
    Now his income is 116 and he save = 116*25/100 = 29
    So % increase in saving = (9/20)*100 = 45

  • Question 2
    1 / -0.25

    A person sell two horses for rupees 480 each. On the first horse he gains 25 percent and on the second horse he losses 25 percent. Find the percent gain or loss in the transaction.

    Solution

     

  • Question 3
    1 / -0.25

    P calculates his profit percent on selling price while Q calculates his profit percent on cost price. They notice that difference between their profits is 1000 rupees. If selling price of both P and Q are same and P gets 40% profit and Q gets 60% profit. Then find their selling price  

    Solution

    Given:

    • Profit Calculation Methods:
      • P calculates profit on  Selling Price (SP) .
      • Q calculates profit on  Cost Price (CP) .
    • Profits:
      • P 's profit: 40%  of SP.
      • Q 's profit: 60%  of CP.
    • Difference in Profits:  ₹1,000.
    • Selling Price for both P and Q:  Same and denoted as  S .

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    Steps to Calculate the Selling Price

    1. Calculate P 's Cost Price (CPP ):
      • P 's profit is 40% of SP.
      • ProfitP  = 0.40 x S
      • CPP  = SP - ProfitP  = S - 0.40S = 0.60S
    2. Calculate Q 's Cost Price (CPQ ):
      • Q 's profit is 60% of CPQ .
      • ProfitQ  = 0.60 x CPQ
      • Selling Price for Q: SP = CPQ  + ProfitQ  = CPQ  + 0.60CPQ  = 1.60CPQ
      • Therefore, CPQ  = SP / 1.60 = S / 1.60
      • ProfitQ  = 0.60 x (S / 1.60) = 0.375S
    3. Set Up the Profit Difference Equation:
      • Difference in profits: ProfitP  - ProfitQ  = ₹1,000
      • Substitute the expressions for profits:
      • 0.40S - 0.375S = 1,000
      • 0.025S = 1,000
      • S = 1,000 / 0.025 = 40,000
    4. Conclusion:
      • The selling price for both P and Q is  ₹40,000 .

    Final Answer

    The selling price for both P and Q is  ₹40,000 .

  • Question 4
    1 / -0.25

    A dealer sells a goat for rupees 600 and there by gains 20 percent. He sells another goat at 5 percent loss and on the whole there is no loss no profit. Find the cost price of the second goat

    Solution

    600 = (120/100)*cp
    so cp of first goat = 500. So in the first deal he gains 100 rupees.
    But on selling second horse he losses 5 percent, means (5/100)*CP = 100
    So cp of second goat = 2000

  • Question 5
    1 / -0.25

    If a discount of 10 percent is given on the marked price of the article then the seller gains 20 percent profit. Find the percent profit if the article is sold at 20 percent discount.

    Solution

    Let marked price = 100
    90 = (120/100)*cp, cp = 75
    Now discount = 20% so, SP = 80
    % profit = [(80 –75)/75]*100 = 20/3

  • Question 6
    1 / -0.25

    What will be the profit percentage after selling an article at certain price if there is a loss of 40 percent when the same article is sold at 2/5 of the earlier selling price ?

    Solution

    CP = 2/3 of Sp
    SP = (100+p)/100 of cp
    CP = 2/3[(100+p)/100] cp
    P = 50
    Solve both equation, we will get P = 50

  • Question 7
    1 / -0.25

    By selling 22 meters of cloth a shopkeeper gains cost price of 4 meter cloth. Find the percent profit/loss occurred by the shopkeeper.

  • Question 8
    1 / -0.25

    Rohit bought an article at 25 percent discount on labelled price. He again sells the article at 20 percent on labelled price. Find the percent profit earned by rohit in whole transaction

    Solution

    Let labelled price is 100. Rohit bought it for 75 after getting 25% discount.
    Now he sells the article at (120/100)*100 = 120. So % profit he earns = (45/75)*100 =60

  • Question 9
    1 / -0.25

    A toys manufacturing company declares 20 percent discount for whole sale buyers. A trader bought toys for rupees 4000 after getting the discount. Now he sells the toys at 15 percent profit on the original price of the company. What is the selling price of the toys?

    Solution

    Let original price of toys be M,
    (80/100)*M = 4000, M = 5000
    Now to gain 15% on the original price, the trader will sell the toys at (115/100)*5000 = 5750 rupees

  • Question 10
    1 / -0.25

    Raman buys some apples at the rate of four for a rupee and same numbers of oranges at three for a rupee. To make a profit of 25%, Raman should sell a 6 apples for. 

    Solution

    Let Raman buys ‘X ’apples at rate four for a rupee and ‘X ’apples at three for a rupee.
    So, cost price = X/4 + X/3
    CP = 6/4 + 6/3 = 3.5
    Now SP = (125/100)*3.5 = 4.375

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