# Be thorough with profit and loss concept

Hyderabad: This is in continuation to the last article focusing on profit and loss topic. Here are practice questions along with solutions that will help you in your preparation for the State government recruitment jobs. 1. A shopkeeper purchases an article for Rs.3,550 and spends Rs.50 on it for repair. If he then sold the […]

Published Date - 1 October 2022, 11:30 PM

**Hyderabad:** This is in continuation to the last article focusing on profit and loss topic. Here are practice questions along with solutions that will help you in your preparation for the State government recruitment jobs.

**1. A shopkeeper purchases an article for Rs.3,550 and spends Rs.50 on it for repair. If he then sold the article for Rs.3,816, the percent of profit is?**

a) 6.47% b) 6.24% c) 6.11% d) 6 %

**Ans:** d

**Solution:**

Actual CP of article

= Rs (3550 50)

= Rs 3600

Gain = 3816 – 3600 = Rs 216

Gain percent = 216 / 3600 × 100 = 6%

**2. Srihaan had to sell vegetables worth Rs 5,750 for Rs 4,500 due to heavy rainfall. What is the loss percentage that he has incurred?**

a) 27.41% b) 21.74% c) 27.14% d) 21.47%

**Ans:** b

**Solution:** Loss percent = Loss / CP × 100

= 5750 – 4500 / 5750 × 100

= 125000/5750 × 100

= 21.74%

**3. A shopkeeper sold his goods at half the list price and thus lost 20%. If he had sold on the listed price, his gain percentage would be?**

a) 90 % b) 80 % c) 70 % d) 60 %

**Ans:** d

**Solution:** Let marked price of article = Rs x and CP = Rs 100

x / 2= 80 =>; x = Rs 160

Gain on selling at the marked price = 60%

**4. A shopkeeper buys two cameras at the same price. He sells one camera at a profit of 18% and the other at a price 10% less than the selling price of the first. His total profit or loss per cent is?**

a) 12.1% profit b) 12.2% loss c) 12.2% profit d) 12.1% loss

**Ans:** a

**Solution:**

Let CP of each camera = Rs x

SP of first camera = 118x / 100

SP of second camera = Rs 118x/100 × 90/100

= Rs 1062x / 1000

Profit = (118x/100 1062x/1000) – 2x

= (118x 1062x – 2000x) / 1000

= Rs 242x / 1000

Gain per cent = (242x/1000 × 2x) × 100 = 12.1%

**5. 10 articles were bought for Rs.8, and sold at 8 for Rs.10. The gain percent is?**

a) 51.75% b) 53.25% c) 55.25% d) 56.25%

**Ans:** d

**Solution:** Let 40 articles (LCM of 8 and 10) be bought.

CP of 40 articles 8 × 40 / 10 = Rs 32

Their SP 10 × 40 / 8 = Rs 50

Profit percent = 50 – 32 / 32 × 100

= 1800/32 = 56.25%

**6. By selling 20 metres of cloth a man gains the selling price of 4 metres of cloth. The gain percent is?**

a) 10 b) 25 c) 40 d) 55

**Ans:** b

**Solution:** SP of 20 metres of cloth

= CP of 20 metres of cloth SP of 4 metres of cloth

SP of (20 – 4 = 16) metres of cloth

= CP of 20 metres of cloth

Gain% = 20 – 16 / 16 × 100

= 100/4 = 25%

**7. Cost price of 100 books is equal to the selling price of 60 books. The gain percentage/loss percentage is?**

a) 66 2/3% b) 67% c) 66% d) 68%

**Ans:** a

**Solution:** CP of each book = Re 1

CP of 60 books = Rs 60

Their SP = Rs 100

Gain per cent = 100 – 60 / 60 × 100

= 200/3 = 66 2/3%

**To be continued…**