Profit and Loss (4)

1. If a material is sold for Rs.34.80, there is a loss of 25%. Find out the cost price of the material?
1. Rs.46.40
2. Rs.44
3. Rs.42
4. Rs.47.20

Answer & Explanation

Answer:- 1

Explanation :-
SP=(100-25)=75% of CP
34.50=(75/100)*CP
CP=(34.50*100)/75
CP=46.40

 

2. A fruit seller sells apples at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%?
1. 11.32
2. 11
3. 12
4. 11.81

Answer & Explanation

Answer:- 4

Explanation :-

SP=9
Loss=20%
CP=(9*100)/80=45/4
Profit=(45/4)*(105/100)=11.81

 

3. A man sells two houses at the rate of Rs.1.995 lakhs each. On one he gains 5% and on the other, he loses 5%. What is his gain or loss percent in the whole transaction?
1. 0.25%.
2. .3%
3. .4%
4. .5%

Answer & Explanation

Answer:- 1

Explanation :-

If a person sells two items at the same price; one at a gain of x % and another at a
loss of x %, then the seller always incurs a loss expressed as
Loss %age=((Common profit or loss %age)/10)^2
Therefore
Loss %age = (5/10)^2 = 0.25%

OR

CP of item on which there is 5% loss = (1.995/95)×100 = 2.1

CP of item on which there is 5% Profit = (1.995/105)×100 = 1.9

Total cost price of both items = 2.1 + 1.9 = 4                            And total SP of both items is 1.995 + 1.995 = 3.99

so there is loss of (4 – 3.99) = .01                             Profit % = (.01/4)×100 = .25%

 

4. John purchased a machine for Rs. 80,000. After spending Rs.5000 on repair and Rs.1000 on transport he sold it with 25% profit. What price did he sell the machine?
1. Rs.107000.
2. Rs.107500.
3. Rs.108500.
4. None of these

Answer & Explanation

Answer:- 2

Explanation :-

CP=80000+5000+1000 = 86000
SP= (86000/100)*125=107500

 

5. By selling an item for Rs.15, a trader loses one sixteenth of what it costs him. The cost price of the item is
1. Rs.14
2. Rs.15
3. Rs.16
4. Rs.17

Answer & Explanation

Answer:- 3

Explanation :-

CP-SP = (1/16) of CP
CP-15=(1/16)*CP
CP-(1/16)CP=15
(15/16)CP=15
CP=16

 

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