Profit and Loss (1)

1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:
1. 32/7%
2. 60/11%
3. 10%
4. 12%

Answer & Explanation

Answer:- 2

Explanation :-

C.P. = Rs. (4700 + 800) = Rs. 5500.
S.P. = Rs. 5800.
Profit= S.P.- C.P. = Rs.(5800 – 5500) = Rs. 300.
Profit %age=(300*5500)/100
Profit %age=(6/11)%

 

2. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

1. 30%
2. 70%
3. 100%
4. 250%

Answer & Explanation

Answer:- 2

Explanation :-

Let us suppose  CP= Rs. 100.
Therefore ,
Profit = Rs. 320
SP = Rs. 420.
New CP = 125% of Rs. 100 = Rs. 125
New SP = Rs. 420.
New Profit = Rs. (420 – 125) = Rs. 295.
New profit %age= (295/420)*100
profit %age= 70%

 

3. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

1. 3
2. 4
3. 5
4. 6

Answer & Explanation

Answer:- 3

Explanation :-

Let’s suppose CP of 6 toffees = Re. 1 SP of 6 toffees=120% of 1=6/5
for Rs 6/5 Toffees sold=6
For Rs 1,Toffees Sold=6*5/6=5

 

4. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

1. Rs. 45
2. Rs. 50
3. Rs. 55
4. Rs. 60

Answer & Explanation

Answer:- 4

Explanation :-

CP(17 Balls)-SP(17 balls)=CP(5 Balls)
CP(12 Balls)=SP(17 Balls)=Rs 720
CP(1 Ball)=720/12=60

 

5. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:

1. No profit, no loss
2. 5%
3. 8%
4. 10%
5. None of these

Answer & Explanation

Answer:- 2

Explanation :-

CP(56 kg rice) = Rs. (26 x 20 + 30 x 36)

=> Rs. (520 + 1080)
=> Rs. 1600.
SP(56 kg rice) = Rs. (56 x 30)
=> Rs. 1680.
Profit=1680-1600=80
Profit percent=(80/1680)*100=5%

 

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