Become a master of profit and loss

This is in continuation to the last article focusing on profit and loss topic

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 dealer sold an article at 6% loss. Had he sold it for Rs.64 more, he would have made a profit of 10%. Then the cost of the article is?

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a) Rs.300 b) Rs.350 c) Rs.400 d) Rs.450
Ans: c

Solution:

C.P. of article = Rs. x (let).
According to the question,
94x/100 64 = x x 110/100
=>; 110x/100 – 94x/100 = 64

=>; 16x/100 = 64 =>; x = 64 x 100/ 16
= Rs. 400

2. By selling cloth at Rs.9 per metre, a shopkeeper loses 10%. Find the rate at which it should be sold so as to earn profit of 15%.

a) Rs.11.20 b) Rs.11.30 c) Rs.11.40 d) Rs.11.50
Ans: d

Solution:

Let the C.P. of cloth be Rs. x per metre.
According to the question,
x x 90/100 = 9
=>; x = 900/90 = 10

To gain 15%,
S.P. = Rs. ( 10 x 115/100) per metre

= Rs.11.50 per metre

3. A man sells an article at 15% profit. If he had sold it for Rs.6 more, he would have gained 18%. The man bought the article for?

a) Rs.200 b) Rs.400 c) Rs.600 d) Rs.800
Ans: a

Solution:

Let the C.P. of article be Rs. x.
According to the question,
(118 – 115)% of x = 6
= x x 3/100 = 6
=>; x = 600/3
= Rs.200

4. If percentage of profit made, when an article is sold for Rs.78, is twice as when it is sold for Rs.69, then the cost price of the article is?

a) Rs.32 b) Rs.60 c) Rs.67 d) Rs.74
Ans: b

Solution:

Initial profit on article
= Rs. (78 – 69) = Rs. 9
C.P. of article
= Rs. (69 – 9) = Rs.60

5. Somesh sold a book at a loss of 30%. If he had sold it for Rs.140 more, he would have made a profit of 40%. The cost price of the book is

a) Rs.200 b) Rs.220 c) Rs.260 d) Rs.280

Ans: a
Solution:
Let the C.P. of the book be Rs. x.

S.P. of the book = Rs. 70x/100

= Rs. 7x/10

Case II,

140x/100 = 7x/10 140

=>; 14x/10 – 7x/10 = 140

7x/10 = 140

7x = 1400

6. Kailash has some apples. He sold 40% more than he ate. If he sold 70 apples, how many did he eat?

a) 50 b) 45 c) 55 d) 60

Ans: a

Solution:

Let Kailash eat x apples.
According to the question,
x x 140/100 = 70 =>; 14x/10 = 70
=>; x = 70 x 10/14 = 50

7. A man bought 30 defective machines for Rs.1,000. He repaired and sold them at the rate of Rs.300 per machine. He got profit of Rs.150 per machine. How much did he spend on repairs?

a) Rs.5,000 b) Rs.3,500 c) Rs.5,500 d) Rs.7,000
Ans: b
Solution:
Let total expenditure on repairing be Rs. x.

Actual C.P. = Rs. (1000 x)

Total S.P. = Rs. (300 × 30)

= Rs. 9000

Total profit = Rs. (150 × 30)

= Rs. 4500

9000 – (1000 x) = 4500

1000 x = 9000 – 4500 = 4500

x = 4500 – 1000 = Rs.3,500

8. A man bought 25 crates of oranges for Rs.10,000. He lost 5 crates. In order to earn a total profit of 25% of the total cost, he would have to sell each of the remaining crates at?

a) Rs.650 b) Rs.675 c) Rs.600 d) Rs.625

Ans: d
Solution:
Five crates out of 25 crates of oranges were lost.

C.P. of 20 crates of oranges = Rs. 10000

S.P. of 20 crates of oranges

= Rs. (10000 x 125/100)

= Rs.12,500
S.P. per crate = 12500/20
= Rs.625

To be continued…

M Venkat
Director

MVK Publications

Dilsukhnagar