Profit and Loss (3)

1. If selling price is doubled, the profit triples. What is the profit percent?
1. 100
2. 10513
3. 6623
4. 120

Answer & Explanation

Answer:- 1

Explanation :-

Profit = (SP – CP)
Now, the S.P. is doubled.
So the new S.P. = 2SP
The new profit = 2SP-CP
when S.P. is doubled, profit increases 3 times
=> New profit = 3 * old profit
=> (2SP – CP) = 3(SP- CP)
=> SP = 2CP
So, the Profit = (SP – CP) = (2CP – CP) = CP
Profit %age=(CP/CP)*100=100%

 

2. The percentage profit earned by selling an item for Rs. 1920 is equal to the percentage loss incurred by selling the same item for Rs. 1280. At what price should the item be sold to make 25% profit?
1. Insufficient Data
2. Rs. 3000
3. Rs. 2000
4. Rs. 2200

Answer & Explanation

Answer:- 3

Explanation :-

Let the CP be x
((1920-x)/x)*100=((x-1280)/x)*100
1920-x=1280-x
2x=3200
x=1600
SP=(1600/100)*125
SP= Rs. 2000

 

3. When an item is sold for Rs. 18,700, the owner loses 15%. At what price should that plot be sold to get a gain of 15%?
1. Rs. 25100
2. Rs. 24200
3. Rs. 25300
4. Rs. 21200

Answer & Explanation

Answer:- 3

Explanation :-

SP=(100-15)%=85%
Therefore, 85% Of CP=18700
CP=(18700*100)/85 =22000
SP=(22000/100)*115= Rs.25300

 

4. 100 oranges were bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. What is the percentage of profit or loss?
1. 11.27% Loss
2. 11.17% Profit
3. 14.27% Profit
4. 14.27% Loss

Answer & Explanation

Answer:- 3

Explanation :-

CP of 1 Orange=(350/100)=3.50
SP of 1 Orange=(48/12)=4
Profit=(4-3.50)=0.5
Profit %age=(0.5/3.50)*100=(100/7)%
Profit %age=14.27%

 

5. A shopkeeper sells one radio for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. What is his total gain or loss percentage?
1. 5%
2. 6%
3. 6.1217%
4. 5.8823%

Answer & Explanation

Answer:- 4

Explanation :-

CP of First Radio=(100/120)*840=700
CP of Second Radio=(100/96)*960=1000
Total CP=1000+700=1700
Total SP=840+960=1800
Profit=100
Profit %age=(100/1700)*100=5.88%

 

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