Profit and Loss - Solved Examples 2
For Solved questions on Profit and Loss Part 1 , Profit and Loss Solved Questions -1
Quantitative Aptitude Profit
and Loss - Solved Problems 21
A man
sold an article at a loss of 7%. Had he been able to sell it at a gain of 9%,
it would have fetched Rs 160 more than it did. Find the cost price?
a)
Rs 800 b) Rs 1000 c) Rs 1200 d)Rs 1500
Answer
: A
Explanation
: Let the cost price be 100% .
The article is sold
at 7% loss => sold at 93% of the cost price
If it sold at a
gain of 9% => selling price will be 109% of the cost price
109% of the cost
price - 93% of the cost price = Rs 160
ð 16%
of the cost price = Rs 160
ð Cost price = Rs 1000.
Aptitude
Questions with Explanations Profit and Loss - Solved Problems 22.
A man sold an
article at a profit of 30%. If he had bought it at 10% less and sold for Rs 20
more, the gain would have been 20%. Find the cost price?
a)Rs
1500 b) Rs
1750 c) Rs
2000 d) Rs 2500
Answer :C
Explanation : Let the cost price
be 100%
It is sold at 30% profit.
The selling price is 130% of the cost price.
130% of CP + Rs 440 =
120
100
x 90% of CP
-> 130%
of CP -108% of CP = Rs 440
-> 22 % of CP= 440
è CP 100% =
$\frac{440}{22}$
X 100 = Rs 2000
Aptitude
Questions and Answers Profit and Loss -
Solved Problems 23.
If the
manufacturer gains 10%, the wholesale dealer 15% and the retailer 25%, then
find the cost of production of a computer, the retail price of which is Rs.
25300?
a)Rs. 16000 b) Rs.20000 c) Rs
17500 d) Rs. 25000
Answer: (a)
Explanation: Let the cost
of production of the table be Rs. CP.
Then, 125% of 115% of 110% of x= 1265
CP X Then, 125% of 115% of 110% of x= 1265
125
100
x
115
100
x
110
100
= 25300CP X
253
100
= 25300 => CP =
(25300 X 160)
253
ð CP= Rs 1600
Arithmetic
Aptitude -- Profit and Loss - Solved Question 24.
The price of an
article, passing through three hands, rises on the whole by 65%. If the first
and the second sellers earned 20% and 25% profit respectively, find the
percentage profit earned by the third seller.
a)
20% b) 10% c) 25% d) No gain or
loss
Answer: B
Explanation: Let the original price of
the article be Rs. P and let the profit earned by the third seller be x%.
Then, (100+x)% of 125% of 120% of P = 165% of P ð
$ \frac{100+x}{100}$ x $ \frac{125}{100}$ x $ \frac{120}{100}$ = $ \frac{165P}{100}$ ð 100+x =
$ \frac{100+x}{100}$ x $ \frac{125}{100}$ x $ \frac{120}{100}$ = $ \frac{165P}{100}$ ð 100+x =
165 x 100 x 100
125
x 120
ð 100 +x = 110
ð X= 10
Therefore profit %= 10%
Word Problems
For GRE - Profit and Loss - Solved
Question 25
A merchant sold an article for Rs
1080 and he made a loss of 10%. At what price should he sell the article
so that he incurs a loss of 5% only ?
a)
Rs 1140 b)Rs 1105 c)Rs 1100 d)Rs 1200
Answer
: A
Explanation:
Cost price to him = Selling price x
Cost price to him = Selling price x
100- loss%
100
= Rs 1080 x
100
90
= Rs 1200
To incur only 5% loss , SP = CP x
100- loss%
100
= Rs 1200 x
95
100
= Rs 1140
Word Problems
for GMAT Profit and Loss - Solved
Problems 26
Mr Sharma bought two articles for Rs 1800. He sold one
article at a gain of 20% and the other at a loss of 4% and he found each
article was sold at the same value. What is the cost price of the articles sold
at a gain ?
a)Rs 400 b)Rs 800 c)Rs
1000 d)Rs 1200
Answer :B
Explanation: Let the cost prices be C1 and C2. => C1+C2 = 1800
Let C1 sold at 20% gain and C2 sold at 4% loss
Each article was sold at the same value
means the selling prices are equal.
Therefore ,
C1 x
100+20
100
= C2 X
100- 4
100
=> C1 x
120
100
= C2 x
96
100
=> C1: C2 = 4 :5
Cost of the article sold at 20% gain C1= Rs
1800 x
4
9
= Rs 800
Aptitude
Questions for Placement Papers Profit and Loss - Solved Problems 27
Sudheer sells books at a profit of 20% for Rs 240. But due to
slack in deman if he reduces its price to Rs 220, find the percent gain or loss
now he makes ?
a)
5% loss b)10%loss c)5% profit d)10%
profit
Answer : D
Explanation :
His cost price is => CP= SPx
His cost price is => CP= SPx
100
100+ Profit%
ð CP= Rs 240 x
100
100+ 20
= Rs 200
After reduction of the prices , he sells them for Rs 220.
Gain % =
Gain
CP
x 100%
=
20
200
x 100% = 10% gain
Aptitude
Questions with Solutions Profit and Loss - Solved Question 28
Soumya bought 2 articles for Rs 1350 and sold one at 10% loss
and another at 15% profit. On the whole there is no loss or gain. Find the
articles sold at 10% loss?
a)Rs 360 b)Rs740 c)Rs 750 d)Rs
810
Answer: A
Explanation: Let the cost prices be C1 and C2 and given sum of cost price is Rs 1350
Explanation: Let the cost prices be C1 and C2 and given sum of cost price is Rs 1350
One (C1)
sold at 10% loss and other(C2) sold at 15% profit.
On
the whole there is no loss or gain ,means the profit and loss equal in this
transaction.
Loss = Profit
ð
CP1 X $ \frac{LOSS%}{100}$ = CP2 X $ \frac{pROFTI%}{100}$
CP1 X $ \frac{LOSS%}{100}$ = CP2 X $ \frac{pROFTI%}{100}$
ð
CP1 X $ \frac{10}{100}$ =CP2 X$ \frac{15}{100}$
CP1 X $ \frac{10}{100}$ =CP2 X$ \frac{15}{100}$
ð
CP1 : CP2= 3 : 2
CP1 : CP2= 3 : 2
Article
sold at 10% loss C1 = Rs1350 x
3
5
= Rs 810.
Aptitude
Questions with Explanations Profit and
Loss - Solved Problems 29
A merchant buys wheat for Rs 3200. He sold one-fourth at 20%
loss. At what percent gain he should sell the remaining stock so as to make an
overall profit of 10% on the total transcation ?
a)5% b)10% c)20% d)25%
Answer: C
Explanation : CP of 1/4 of the stock = Rs
3200
4
= Rs 800
1/4TH
stock is sold at 20% loss=>SP= 800x
80
100
= Rs 320
To get overall 10% profit on the total transaction, he should
get Rs 3200 x
110
100
= Rs 3520
Required selling price of the remaining stock = Rs 3520 – Rs
640= Rs 2880
For the remaining
¾ stock of wheat , SP = Rs 2880 and CP= Rs 3200 – 800=2400
Therefore
required profit% =
(SP-CP)
CP
x 100%
=
Aptitude Questions and Answer Profit and Loss - Solved Question 35
(2880-2400)
2400
=
480
2400
x 100%
= 20%
Word Problems
for GMAT -- Profit and Loss - Solved Question 30
A reduction of 20% enables a man to buy five more articles for Rs 400.
What is the original price of the article ?
A)Rs 40 b)Rs 20 c)Rs 16 d)Rs
10
Answer : B
Explanation : Savings
in Rs 400 due to reduction in the price
= Rs 400 x
= Rs 400 x
20
100
= Rs 80
This
savings Rs 80 enables the man to buy five more articles at reduced price.
Reduced price of 5 articles is Rs
80
Reduced price of 1 article is Rs
80
5
= Rs 16
Reduced
price is 80% of the original price (because there is 20% reduction in the
price)
80% of the original
price = Rs 16
Original price 100%= Rs
16
80
x 100 = Rs 20
Quantitative
Reasoning Questions Profit and Loss - Solved Question 31
A merchant buys a certain number of apples at 6
a rupee and the same number at 9 a rupee too. He mixes and sells them at 8 a
rupee. Find his profit or loss %?
a)10 % gain b)10%loss c)20% gain d)15% gain
Answer: B
Explanation :
Suppose the merchant buys ( LCM of 6 ,8,9)= 72 apples
Suppose the merchant buys ( LCM of 6 ,8,9)= 72 apples
Cost
price of 18 apples at the rate of 6 per rupee =
72
6
= Rs 12
Cost
price of 18 apples at the rate of 9 per rupee =
72
9
= Rs 8
Total cost for
144 apples = Rs 20
SP of 144 apples
=
144
8
= Rs 18
∴ loss % =
Loss
CP
X 100% =
2
20
X 100% =
10% loss
Quantitative
Reasoning Questions Profit and Loss - Solved Problems 32
A merchant bought 10 articles at Rs 600 each. 1
article was broken and he sold 2 articles at 5% loss. At what percentage profit
he should sell the remaining articles so as to gain a profit of 10% on the
total cost ?
a)20% b)25% c)30% d)35%
Answer : C
Explanation : Cost price of 10 articles = 10 x 600 = 6000
Total proft required is
10% on the cost price
= > Desired selling price = 6000 x
= > Desired selling price = 6000 x
110
100
= Rs 6600
As 1 article is broken, its selling price is zero.
2 articles sold at 5% loss => Selling price of these 2
articles = 2 x 600 x
95
100
= Rs 1140
Balance amount desired
from selling of 7 articles = Rs 6600 – Rs 1140 = Rs 5460
Each
articles should be sold for
5460
7
∴ Required
profit percentage =
Profit
CP
X 100 =
180
600
x 100 = 30%
Aptitude
Questions with Explanation Profit and Loss - Solved Problems 33
A camera and a mobile were sold for Rs.6000 each. The camera
was sold at a loss of 20% and the mobile sold at a gain of 20%. The entire
transaction resulted in :
a)A loss of Rs 500 b) A profit of Rs 1000
c) A loss of Rs 500 d) A loss of Rs 1000
Answer : B
Explanation: If the selling price
of two articles are same and a% profit is made on one article and a% loss is made on another article , then
overall loss% =-(
a2
100
)%
So
in this case, Profit% = Loss% = 20. So a= 20
Overall loss %=-(
a2
100
)% = -(
202
100
)%= 4% loss
Total
S.P = 2 x Rs 6000 = Rs 12000
Let the cost price be 100%.
They both together sold at 4%
loss => Selling price 96%= Rs 12000
Loss
% =>4%=
12000
96
x 4 =Rs 500
Therefore , a loss of Rs 500 is there in the
transaction.
Aptitude for
Bank Tests - Profit and Loss - Solved Problem 34
A fruit vendor bought 24 dozens of apples at Rs 3600. 48 apples were
rotten. At what price per dozen should he sell the remaining apples to get 25%
profit on the whole?
a)Rs 225 b)Rs 250 c)Rs
275 d)Rs 300
Answer: A
Explanation :
To get 25% profit on whole, the selling price must be
ð 3600x $\frac{125}{100}$
= Rs 4500
48
apples were rotten . As 4 dozen apples were rotten, remaining we have 20
dozens.
Selling price of each dozen to get 25%
total profit = Rs
4500
20
= Rs 225Aptitude Questions and Answer Profit and Loss - Solved Question 35
Two
successive discounts of 20% and 30% are equivalent to a single discount of ?
a)
50% b)53% c)56% d)60%
Answer:
Explanation
:
Let the cost price be Rs 100
Selling price after 20% and 30% successive
discounts
= 100 x
= 100 x
100-20
100
X
100-30
100
=
100 x
80
100
x
70
100
= Rs 56
Therefore overall discount = 100 – 56 =
44%
Alternative Method :
If there are two successive discounts a% and
b%, then overall single discount
= -a -b +
AB
100
%
= -20 – 30 –
20 X 30
100
= 44% discount
But
this formula is useful only when 2 successive discounts are given
Aptitude Questions with Explanations - Profit and Loss - Solved
Problems 36
The list price of an article is Rs 1200. Two successive discounts of 10% and 20% are given on it. What is the selling price?
The list price of an article is Rs 1200. Two successive discounts of 10% and 20% are given on it. What is the selling price?
a)Rs 864 b)Rs 900 c)Rs 924 d)Rs
1020
Answer: A
Explanation :
Selling price = CP X
Selling price = CP X
100-Discount%
100
x
100-Discount%
100
= Rs 1200 x
100-10
100
x
100-20
100
= Rs 1200 x
90
100
x
80
100
= Rs 864
Quantitative Aptitude Questions --Profit and Loss - Solved Problems 37
The marked price of an article is Rs 3200. It is sold for Rs 2520 after giving two successive discounts . If one discount is 10%, find the second discount is
Quantitative Aptitude Questions --Profit and Loss - Solved Problems 37
The marked price of an article is Rs 3200. It is sold for Rs 2520 after giving two successive discounts . If one discount is 10%, find the second discount is
a)12.5% b)10% c)15% d)14 2/7%
Answer : A
Explanation :
SP = MP x
100-Discount%
100
x
100-Discount%
100
2520 = 3200 x
100-10
100
x
100-Discount%
100
2520 = 3200
x
90
100
x
100-Discount%
100
On solving we get Discount% = 12.5%
Alternative Method :
Marked price is Rs 3200
After 10% discount
, the price will be 3200 x
After x% discount , the price becomes Rs 2520
90
100
= 2880After x% discount , the price becomes Rs 2520
So second discount in
rupees = Rs 2880 – Rs 2520 = 360
2nd discount% =
=
Discount
Base Price
x 100% =
360
2880
x 100%= 12.5%
Aptitude Solved
Questions Profit and Loss - Solved
Problems 38
What is the mark up percentage over the cost price a shop keeper should
mark his goods so that he again 20% even after giving a discount of 25% on the
market price ?
a)60 b)75 c)80 d)30
Answer: A
Explanation :
Discount is always given on marked price and profit always obtained on cost
price.
As
per the given data 120% of the cost price must be equal to 75% of the market
price
ð $\frac{120}{100}$
CP = $ \frac{75}{100}$
MP
ð CP
: MP = 5:8
∴ required markup percentage =
8-5
5
x 100% = 60%
Aptitude
Questions with Explanations Profit and Loss - Solved Problems 39
A merchant marks his goods 35% above the cost price and allows 16 2/3%
discount. The selling price of the goods is Rs 13500, find the cost price of
the goods
a) Rs 10500 b)Rs 12000 c)Rs 13200 d)Rs 11500
a) Rs 10500 b)Rs 12000 c)Rs 13200 d)Rs 11500
Answer : B
Explanation : Let the cost price be CP
After marking up the price 35% above the cost price , marked price = CP
x
130
100
A discount of 16 2/3% is given on marked
price
SP = CP x
130
100
x
100- 16 2/3
100
Rs 13500 = CP x
130
100
x
5
6
CP= Rs 12000
Quantitative
Reasoning for GRE --Profit and Loss - Solved Problems 40
A merchant put the marked price 10% above the cost price. He allows
certain discount at the time of selling and he suffers a loss of 1%. What the
allowed discount ?
a)5% b)10% c)15% d)20%
Answer :A
Explanation :
Let the cost price be Rs 100
The marked price is 10% above the cost
price = Rs 110
After
discount, he got 1 % loss on Cost price è Selling price = Rs 99
Discount given is 110 – 99 = Rs
11
Discount % =
=
Discount
MP
x 100%
11
110
X 100% = 10%
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