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Profit and Loss Test - 2

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Profit and Loss Test - 2
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  • Question 1
    2 / -0.83

    A retailer sold 12 notes at a profit of 20% and 8 notes at a profit of 10%. If he had sold all the 20 notes at a profit of 15%, then his profit would have been reduced by Rs.36. What is the cost price of each note?

    Solution

    Answer - D.Rs.180
    Explanation :
    Cost Price = x
    Total Profit
    = 12x * 20/100 + 8x * 10/100 = 320x/100 = 3.2x
    = 20x * 15/100 —(ii) Profit of 15% on 20 notes
    Total Profit
    3.2x - 3x = 36
    0.2x = 36
    x = 180

  • Question 2
    2 / -0.83

    The profit Percentage on 3 bikes are 15%, 35% and 10% and the ratio of CP is 5:3:1. Also the ratio of the Bike sold of P, Q and R is 2:3:5. Then the overall approximate Profit Percentage is?

    Solution

    Step 1: Assign Variables Based on Ratios To simplify calculations, assign a variable to represent the basic unit in the CP ratio.

    • Let CP of Bike R (CR) = x Therefore:
    • CP of Bike P (CP) = 5x
    • CP of Bike Q (CQ) = 3x

    Step 2: Calculate Total Cost Price (Total CP) Using the number of bikes sold and their respective CPs: Total CP = (Number of P bikes x CP of P) + (Number of Q bikes x CP of Q) + (Number of R bikes x CP of R) = (2 x 5x) + (3 x 3x) + (5 x x) = 10x + 9x + 5x = 24x

    Step 3: Calculate total Profit

    1. Bike P:

      • Profit per Bike P: 15% of CP = 0.15 x = 0.75x
      • Total Profit from P: 0.75x x 2 = 1.5x

    2. Bike Q:

      • Profit per Bike Q: 35% of CP = 0.35 x = 1.05x
      • Total Profit from Q: 1.05x x 3 = 3.15x

    3. Bike R:

      • Profit per Bike R: 10% of CP = 0.10 x = 0.10x
      • Total Profit from R: 0.10x x 5 = 0.5x

    Total Profit: 1.5x + 3.15x + 0.5x = 5.15x

    Step 4: Calculate Overall Profit Percentage

    The overall profit percentage is given by:

    Overall Profit % = (Total Profit / Total CP) x 100

    Substituting the values:

    Overall Profit % = (5.15x / 24x) x 100 = (5.15 / 24) x 100 ≈0.2146 x 100 ≈21.46% ≈21%

  • Question 3
    2 / -0.83

    When a shopkeeper reduces the selling price of an article from 1180 to 1126 his loss increases by 5% . What is the cost price of article?

    Solution

    Answer - D. 1080
    Explanation :
    5% of cp = 1180 - 1126
    CP = 54 * 100 / 5 = 1080

  • Question 4
    2 / -0.83

    A and B, there are two companies, selling the packs of cold-drinks. For the same selling price A gives two successive discounts of 10% and 25%. While B sells it by giving two successive discounts of 15% and 20%. What is the ratio of their marked price?

    Solution

    Answer - C. 136 : 135
    Explanation :
    A = 90/100*75/100
    - .675
    B = 85/100*80/100
    .68
    680:675
    136:135

  • Question 5
    2 / -0.83

    A reputed company sells a wrist watch to a wholesaler making a profit of 10%. The wholesaler, in turn, sells it to the retailer making a profit of 10%. A customer purchases it by paying Rs. 990. Thus the profit of retailer is 2(3/11)% What is the cost incurred by the the company to produce it?

    Solution

    Answer —C. 800
    Explanation :

    x*110/100*110/100*(100 + 25/11)/100 = 990
    x = 800

  • Question 6
    2 / -0.83

    A and B both are dealers of Honda Motorcycles. The price of an used Honda Motorcycle is Rs.28,000. A gives a discount of 10% on whole, while B gives a discount of 12% on the first Rs. 20,000 and 8% on the rest Rs. 8000. What is the difference between their selling prices?

    Solution

    Discount offer by A = 10 % of 28000 = 2800
    Total Discount offer by B = 12% of 20,000 + 8% of 8000 = 3040
    Required difference = 3040 –2800 = 240

  • Question 7
    2 / -0.83

    The profit percentage of P and Q is same on selling the articles at Rs. 1800 each but P calculates his profit on the selling price while Q calculates it correctly on the cost price which is equal to 20%. What is the difference in their profits?

    Solution

    Explanation:
    Profit(Calculated on SP) = 20% of 1800 = 360
    Profit(calculated on CP)
    x + x/5 = 1800
    x = 1500
    Profit = 300
    Difference = 360 –300 = 60

  • Question 8
    2 / -0.83

    A person sold a pen at Rs. 96 in such a way that his percentage profit is same as the cost price of the watch. If he sells it at twice the percentage profit of its previous percentage profit then new selling price will be?

    Solution

    CP = x
    Profit Percentage = x%
    SP = x(100 + x)/100
    x(100 + x)/100 = 96
    x = 60
    Profit Percentage = 60%
    New SP = 60 * 220 / 100 = 132

  • Question 9
    2 / -0.83

    A trader mixes 25% of solution A to his Solution B and then he sells the whole mixture at the price of Solution B. If the cost price of Solution A be 50% of the cost price of Solution B, what is the net profit percentage?

    Solution

    Quantity of Solution B = 100 litre
    Quantity of Solution A = 25 litre
    CP of 1 litre Solution B = Rs.10
    CP of 1 litre Solution A = Rs.5
    CP = 100 * 10 + 25 * 5 = 1125
    SP = (100 + 25)*10 = 1250
    Profit = 1250 –1125 = 125
    % = 125 * 100 / 1125 = 100/9%

  • Question 10
    2 / -0.83

    A scientist mixes 10% water in his solution but he is not content with it so he again mixes 10% more water in the previous mixture. What is the profit percentage of the scientist if he sells it at cost price:

    Solution

    Let Initial Quantity of Solution = 100 litre
    After mixing 10% water, Quantity of the mixture = 110 * 110 / 100 = 121 litre
    CP of One litre of Solution = Rs.1
    Total CP = Rs.100
    Total SP = Rs.121
    Profit = 121 –100 = 21
    Profit % = 21 * 100/100 = 21%

  • Question 11
    2 / -0.83

    The profit earned after selling an article for Rs. 1680 is the same as the loss incurred after selling the article for Rs. 1512. What is the cost price of the article?

    Solution

    CP = x
    1680 –x = x –1512
    2x = 3192
    x = 1596

  • Question 12
    2 / -0.83

    Arun sells an article at 20% profit to Bala, Bala sells it to Catherine at 10% profit. Catherine sells it to Dinesh at Rs. 16 profit. The difference between the cost price of Dinesh and cost price of Arun was Rs. 500. How much did Bala pay to Arun for the article? 

    Solution

    Cost Price of Arun = 100x
    Cost Price of Bala = 120x
    Cost Price of Catherine = 132x
    Cost Price of Dinesh = 132x + 16
    132x + 16 –100x = 500
    32x + 16 = 500
    32x = 484
    x = 484/32 = 15.125
    Cost Price of Bala =120x = 120 * 15.125 = 1815

  • Question 13
    2 / -0.83

    Rahul purchased an article for Rs. 8400 and sold it for a loss of 5%. From that money he purchased another article and sold it for a gain of 5%. What is the overall gain or loss?

    Solution

    CP = 8400
    SP = 8400 * 95/100 = 7980
    CP = 7980
    SP = 7980 * 105/100 = 8379
    Difference = 8400 –8379 = 21

  • Question 14
    2 / -0.83

    A Shop Keeper sells two bags for Rs. 500 each. On one, he gets 14% profit and on the other he gets 14% loss. His profit or loss in the entire transaction was?

    Solution

    % = x
    Loss % = x ²/100 = 196/100 = 49/25%

  • Question 15
    2 / -0.83

    A Shopkeeper bought 30 kg of rice at the rate of Rs. 40 per kg. He sold 40% of the total quantity at the rate of Rs. 50 per kg. At what price per kg should he sell the remaining quantity to make 25% overall profit?

    Solution

    Total CP of Rice = 30 * 40 = 1200
    40% of Total Quantity = 40% of 30 = 12
    SP = 12*50 = 600
    SP = 1200 * 125/100 = 1500
    SP of Remaining Quantity = 1500 –600 = 900
    Remaining Quantity = 18kg
    Rice per Kg = 900/18 = Rs. 50

  • Question 16
    2 / -0.83

    If the Cost Price of 25 articles is equal to the Selling Price of 20 articles, then what is the gain %?

    Solution

  • Question 17
    2 / -0.83

    A TV was purchased for Rs. 54000. Its price was marked up by 40%.It was sold at a discount of 20% on the marked price. What was the profit percent of the cost price?

    Solution

    Explanation:
    40 –20 + [40 * (-20)/100] = 20 –8 = 12%

  • Question 18
    2 / -0.83

    A shopkeeper sold a smartphone for Rs.15000. Had he offered discount of 10% on the Selling Price, he would have earned a profit of 8%. What is the Cost Price of that Smartphone?

    Solution

    S.P of Smart Phone = Rs.15000
    Discount = 10%
    New SP = 15000 –1500 = Rs. 13500
    Profit = 8%
    CP = 13500 * 100/108 = 12500

  • Question 19
    2 / -0.83

    Pinkey sold a machine to Shalini at a profit of 30%. Shalini sold this machine to Arun at a loss of 20%. If Pinkey paid Rs.5000 for this machine, then find the cost price of machine for Arun?

    Solution

    R1 = 30% R2 = 20%
    5000 * 130/100 * 80/100 = Rs. 5200

  • Question 20
    2 / -0.83

    A merchant earns a profit of 20% by selling a basket containing 80 Oranges whose cost is Rs.240 but he gives one-fourth of it to his friend at cost price and sells the remaining oranges. In order to earn the same profit, at what price must he sell each orange?

    Solution

    CP of 80 Oranges = Rs.240
    CP of 1 Orange = Rs.3
    CP of 20 Oranges = Rs.60
    120% of 240 = 288
    SP of remaining 60 Oranges = 288 –60 = 228
    SP of 1 Orange = 228/60 = Rs.3.80

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