Find out how to get profit or loss percent

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 tests.

1. Oranges are bought at rate of Rs 7 for 3. At what rate per 100 must they be sold to gain 33%?

---

a) Rs 57 b) Rs 63 c) Rs 68 d) Rs 56
Ans: a

Solution: Cost price of 1 orange = 3/7

 Cost price of 100 oranges
= 3/7 × 100 = 300/7
Since 100% = 300/7

133% = 300/7 × 133/100 = Rs 57

2. 12 copies of a book were sold for Rs 1,800 thereby gaining cost price of 3 copies. The cost price of a copy is?
a) Rs 100 b) Rs 120 c) Rs 150 d) Rs 180
Ans: b

Solution: Let the cost price of 1 book be x

 Cost price of 3 books = 3x and, cost price of 12 books = 12x
Selling price of 12 books = 1800

= 12x 3x = 15x

15x = 1800
x = 1800/15 = 120
The cost price of each book = 120
3. A man buys 12 articles for 12 and sells them at the rate of 1.25 per article. His gain percentage is?
a) 10% b) 15% c) 20% d) 25%

Ans: d
Solution: CP = 12
SP = 12 × 1.25 = 15

Total Profit = 15 – 12 = 3

% gain = 3/12 × 100 = 25%

4. If I would have purchased 11 articles for 10 and sold all the articles at the rate of 10 for 11, the profit per cent would have been?
a) 41% b) 11% c) 21% d) 31%

Ans: c
Solution: Let CP of an article = 10/11
SP of an article = 11/10

 Profit = 11/10 – 10/11
= (121 – 100)/ 110 = 21/110

 Profit % = (21/110 × 100) / (10/11)
= 2100/100 × 11/10 = 21%

5. 100 oranges are bought for 350 and sold at the rate of 48 per dozen. The percentage of profit or loss is?

a) 17% loss b) 14 2/7% profit c) 14 2/7% loss d) 17% gain

Ans: b

Solution:

CP of 100 oranges = 350
SP of 12 oranges = 48
SP of 100 oranges = 48/60 × 100 = Rs 400
Profit = (400 – 350) = 50
 Profit % = 50/350 × 100 = 100/7
= 14 2/7%

6. A person buys some pencils at 5 for a rupee and sells them at 3 for a rupee. His gain per cent will be?
a) 46 2/3% b) 56 2/3% c) 66 2/3% d) 76 2/3%
Ans: c

Solution:

CP of 5 pencils = 1
SP of 5 pencils = 5/3
Gain = 5/3 – 1 = 2/3
 Gain % = (2/3) /1 × 100 = 66 2/3%
7. Oranges are bought at the rate of 10 for 25 and sold at the rate of 9 for 25. The profit percent is

a) 9 1/2% b) 11 1/11% c) 10 d) 11 1/9%

Ans: d
Solution: Suppose the number of oranges bought
= LCM of 10 and 9 = 90

CP of 90 oranges = 25/10 × 90 = 225

SP of 90 oranges = 25/9 × 90 = 250

Profit % = 25/225 × 100

= 100/9 = 11 1/9%

To be continued…

M Venkat
Director

MVK Publications

Dilsukhnagar