Profit and Loss (6)

Video Explanation

Q1. A material is purchased for Rs. 600. If one-fourth of the material is sold at a loss of 20% and the remaining at a gain of 10%, Find out the overall gain or loss percentage?
1. 3.5%
2. 2.5%
3. 3%
4. 2%

Answer & Explanation

Answer:- 2

Explanation:-

Price of selling (1/4)th of the material at a loss of 20%
=>(1/4) * 600 * (80/100) = Rs. 120
Price Received by remaining material at a gain of 10%
=>(3/4) * 600 * (110/100) = Rs. 495
Total selling price=120+495=615
profit=615-600=15
profit %age=(15/600)*100=5/2=2.5%
=>2.5%

 

Q2. A shopkeeper buys pencils at 9 for Rs. 16 and sells them at 11 for Rs. 22. Find out his loss or gain percentage?
1. 12.5%
2. 12%
3. 14%
4. 11.66%

Answer & Explanation

Answer:- 1

Explanation:-
CP pf 1 pencil=16/9
SP of 1 pencil=22/11=2
Profit=2-(16/9)=2/9
Profit %age=((2/9)/(16/9))*100
Profit %age=12.5

 

Q3. A reduction of 10% in the price of a pen, enabled a trader to purchase 9 more for Rs.540. What is the reduced price of the pen?
1. 8
2. 6
3. 5
4. 4

Answer & Explanation

Answer:- 2

Explanation:-

He purchased 9 more pens for 10% of 540
Reduced Price of one pen=(10% of 540)/9
=>54/9
=> Rs. 6

 

Q4. Sunil purchases two books at Rs.300 each. He sold one book 10% gain and other at 10% loss. What is the total loss or gain in percentage?
1. 10% gain
2. 1% loss
3. No loss or no gain
4. 1% gain

Answer & Explanation

Answer:- 3

Explanation:-

Total CP=300+300=600
Total SP=110% of 300 + 90% of 300
=>330+270=600
CP=SP
Therefore, No profit No loss

 

Q5. Gauri went to the stationers and bought things worth Rs. 25, out of which 30 paise went on sales tax on taxable purchases. If the tax rate was 6%, then what was the cost of the tax-free items?
1.Rs. 15
2.Rs. 15.70
3.Rs. 19.70
4.Rs. 20

Answer & Explanation

Answer:- 3

Explanation:-

Let the amount of taxable purchases be Rs. x.
Therefore   6% of x=30/100
=>x=(30/100)*(100/6)=5
Cost of tax free item=(25-5)-.30= Rs 19.70

 

Video Explanation

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