Profit Loss

29 April 2020


 Practice Question For Profit Loss  

 


1) John buys an old scooter for Rs. 4700Rs and spends Rs. 800Rs on its repairs. If he sells the scooter for Rs. 5800, what is his gain percent?

A) 60/11%

B) 10%

C) 32/7 %

D) 12%

Video Solution :


2) A vendor bought bananas at 6 for a rupee. How many for a rupee must he sell to gain 20%?

A) 5

B) 6

C) 3

D) 4

Video Solution :


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3) The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find the value of x

A) 16

B) 15

C) 25

D) 18

Video Solution :


4) In a shop, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, find out approximately what percentage of the selling price is the profit?

A) 30%

B) 100%

C) 70%

D) 250%

Video Solution :


5)The price of commodity X increases by 40 paise every year, while the price of commodity Y increases by 15 paise every year. If in 2001,  the price of commodity X was Rs. 4.20 and that of Y was Rs. 6.30, in which year commodity X will cost 40 paise more than the commodity  Y? 

A. 2010 

B. 2011 

C. 2012 

D. 2013 

Ans.- B 

Solution : 
Suppose commodity X will cost 40 paise more than Y after z years. 
Then, (4.20 + 0.40z) - (6.30 + 0.15z) = 0.40 
=> 0.25z = 0.40 + 2.10 
=> z =2.50/0.25= 250/25 = 10. 
=> X will cost 40 paise more than Y 10 years after 2001 i.e., 2011. 

6) 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: 

A. 4 4/7% 

B. 5 5/11% 

C. 10% 

D. 12% 

Ans.- B 

Solution: 
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500. 
Selling Price (S.P.) = Rs. 5800. 
Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300. 
Gain % =300/5500x 100%= 5 5/11% 

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7) Samant bought a microwave oven and paid 10 % less than the  original price. He sold it with 30% profit on the price he had paid.What  percentage of profit did Samant earn on the original price? 

A. 17% 

B. 20% 

C. 27% 

D. 32% 

Ans.- A 

Solution: 
Let the original price=Rs.100. 
Then, C.P= Rs.90. 
S.P =130% of Rs. 90=Rs.(130/100×90)= Rs.117. 
Required percentage= (117 - 100)%=17%. 

8)  If a cost price of a pencil box is Rs.67 and selling price is Rs.70.Is  there is profit or loss? 

A. Rs.2 

B. Rs.3 

C. Rs.4 

D. RS.5 

Ans.- B 

Solution: 
C.P = RS.67 , S.P = Rs.70 As, S.P >C.P it means profit .profit = S.P-C.P = Rs.3 

9)The owner of an electronics shop charges his customer 22% more  than the cost price. If a customer paid Rs 10,980 for a DVD player, then  what was the cost price of the DVD player? 

A. Rs 8000 

B. Rs 8800 

C. Rs 9500 

D. Rs 9000 

Ans.- D 

Solution: 
CP of DVD player = Rs x 
According to the question, 
= x(1+22/100) 
= Rs 10980 
x = 10980 × 50/61 = Rs 9000 

10) David purchased a house for Rs.75000 and a site for Rs.15000  respectively, if he sold the house for Rs.83000 and the site for  Rs.10000, then find the resultant percentage of gain? 

A. 30 % 

B. 330/3 % 

C. 31/3 % 

D. 3.33 % 

Ans.- D 

Solution: 
Total CP = 90000 & total SP = 93000 ? gain = SP/CP = 93000/90000 = 
1.0333 = 3.33%. 

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