Problems on Profit Loss
Q51. A shopkeeper sold a TV set for Rs. 17940 with a discount of 8% and earned a profit of 19.6%. Wht would have been the percentage of profit earned if no discount was offered.
(a) 23.07%
(b) 23.89%
(c) 24.56%
(d) 24.98%
Answer: (a) 23.07%
S.P = 92% of Rs. 17940
= Rs. 92/100 X 17940 = Rs. 16504.80
Profit = 19.6 %
At selling price Rs. 119.6 cost price be Rs. 100
∴ At selling price Rs. 1 cost price be Rs. 100/119.6
∴ At selling price Rs. 16504.80 cost price be Rs. (100/119.6) X 16504.80 = Rs. 13800
∴ C.P = Rs. 13800
S.P = Rs. 17940
∴ Profit = Rs. (17940 - 13800) = Rs. 4140
Profit % = (4140/17940) X 100 = 23.07 %
Q52. The marked price of a shirt and trousers are in the ratio 1:2. The shopkeeper gives 40% discount on the shirt. If the total discount on both is 30%, the discount offered on the trouser is
(a) 21%
(b) 23%
(c) 25%
(d) 29%
Answer: (c) 25%
Let, the marked price of shirt be Rs. x
and the marked price of trousers be Rs. 2x
Let, the discount of trousers be y%
A/Q x X 40% + 2x X y% = (x + 2x) X 30%
⇒ | 40x | + | 2xy | = | 30 X 3x |
100 | 100 | 100 |
⇒ 40x + 2xy = 90x
⇒ 50x = 2xy
⇒ y = 50x/2x = 25
So answer is 25%
Q53. A wholeseller sells 20 pens at the marked price of 16 pens to a retailer. The retailer in turn sells them at the marked price. The gain percent to the retailer is
(a) 18%
(b) 22%
(c) 24%
(d) 25%
Answer: (d) 25%
Let, the M.P of each pen be Rs. x
∴ S.P of 20 pens = M.P of 16 pens = Rs. 16 X x = Rs. 16x
∴ Retailer C.P of 20 pens = Rs. 16x
Retailer S.P of 20 pens = Rs. 20 X x = Rs. 20x
∴ Gain = Rs. (20x - 16x) = Rs. 4x
∴ Gain % = 4x/16x X 100 = 25%
Q54. A shopkeeper claims to sell his articles at a discount of 10%, but marks his articles by increasing the cost of each by 20%. His gain percent is
(a) 8%
(b) 12%
(c) 14%
(d) 17%
Answer: (a) 8%
Let the C.P be Rs. 100
∴ M.P = Rs. 120
∴ S.P = Rs. (90/100) X 120 = Rs. 108
Gain = Rs. (108 - 100) = Rs. 8
Gain % = (8/100) X 100 = 8%
Q55. If the manufacturer gains 10%, the wholesale dealer 15% and the retailer 25%, then the cost of production of an article whose retail price is Rs. 1265 is
(a) Rs. 800
(b) Rs. 850
(c) Rs. 925
(d) Rs. 975
Answer: (a) Rs. 800
Let, the cost of production be Rs. x
Now x X | 110 | X | 115 | X | 125 | = 1265 |
100 | 100 | 100 |
⇒ x X | 11 | X | 23 | X | 25 | = 1265 |
10 | 20 | 20 |
⇒ x = | 1265 X 10 X 20 X 20 |
11 X 23 X 25 |
= 800
∴ Answer is Rs. 800
Q56. A fruit seller buys lemons at 2 for a rupee and sells them at 5 for 3 rupees. His gain percent is
(a) 17%
(b) 20%
(c) 22%
(d) 26%
Answer: (b) 20%
C.P of 2 lemon = Rs. 1
C.P of 1 lemon = Rs. ½
S.P of 5 lemon = Rs. 3
S.P of 1 lemon = Rs. 3/5
Gain = Rs. ( | 3 | - | 1 | ) = Rs. | 6 - 5 | = Rs. | 1 |
5 | 2 | 10 | 10 |
Gain % = | 1/10 | X 100 = | 2 | X 100 = 20% |
½ | 10 |
Q57. A shopkeeper sells a badminton racket whose marked price is Rs. 30 at a discount of 25% and gives a shuttlecock costing Rs. 1.50 free with each racket. Even then he makes a profit of 20%. His cost price per racket is
(a) Rs. 17
(b) Rs. 20
(c) Rs. 22
(d) Rs. 24
Answer: (b) Rs. 20
M.P = Rs. 30
Discount = 15% and Rs. 1.50
∴ S.P = Rs. ( | 85 | X 30 - 1.50 ) |
100 |
= Rs. ( | 51 | - | 3 | ) |
2 | 2 |
= Rs. 48/2 = Rs. 24
∴ Gain % = 20%
∴ C.P = Rs. ( | 100 | X 24 ) = Rs.20 |
120 |
Q58. An article passing through two hands, is sold at a profit of 38% at the original cost price. If the first dealer makes a profit of 20%, then the profit percent made by the second is
(a) 8%
(b) 12%
(c) 15%
(d) 18%
Answer: (c) 15%
Let, the C.P be Rs. 100
∴ S.P = Rs. 138
Let, the profit made by 2nd dealer be x%
∴ (100 + x)% of 120% of Rs. 100 = Rs. 138
⇒ | 100 + x | X | 120 | X 100 = 138 |
100 | 100 |
⇒ 12000 + 120x = 13800
⇒ 120x = 13800 - 12000 = 1800
⇒ x = 1800/120 = 15
Q59. A merchant purchases a wrist watch for Rs. 450 and fixed the list price in such a way that after allowing a discount of 10% he earns a profit of 20%. The list price of the watch is
(a) Rs. 475
(b) Rs. 490
(c) Rs. 550
(d) Rs. 600
Answer: (d) Rs. 600
C.P = Rs. 450
Gain = 20%
∴ S.P = Rs. (120/100) X 450 = Rs. 540
Let the list price be Rs. x
∴ 90% of x = 540
⇒ (90/100) X x = 540
⇒ x = (540 X 100)/90 = 600
∴ Answer is Rs. 600
Q60. Two thirds of a consignment was sold at a profit of 6% and the rest at a loss of 3%. If there was an overall profit of Rs. 540, the value of consignment was
(a) Rs. 14750
(b) Rs. 15000
(c) Rs. 16500
(d) Rs. 18000
Answer: (d) Rs. 18000
Let, the value of consignment be Rs. x
∴ S.P = Rs. ( | 2 | X x X | 106 | X | 1 | X x X | 97 | ) |
3 | 100 | 3 | 100 |
= Rs. ( | 53x | + | 97x | ) |
75 | 300 |
= Rs. | 212x + 97x |
300 |
= Rs. | 309 | x |
300 |
∴ | 309 | - x = 540 |
300 |
⇒ 9x/300 = 540
⇒ x = (540 X 300)/9 = 18000
Practice Test Exam