Learn how to calculate profit or loss percentage

Here are practice questions along with solutions that will help you in your preparation for the State government recruitment jobs.

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. The cost price of two dozen bananas is 32. After selling 18 bananas at the rate of 12 per dozen, the shopkeeper reduced the rate to 4 per dozen. The percent loss is?

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a) 35.5% b) 37.5% c) 36.5% d) 38.5%
Ans: b

Solution: Total CP = 32

Total SP = (18 2) = 20
Loss = (32-20) = 12
Loss per cent = 12/32 × 100 = 37.5%
2. Ramesh bought 10 cycles for Rs 500 each. He spent Rs 2,000 on the repair of all cycles. He sold five of them for Rs 750 each and the remaining for Rs 550 each. Then the total gain or loss % is?
a) Loss of 7 1/7% b) Gain of 5 2/3% c) Loss of 5 1/3% d) Gain of 7 1/3%

Ans: a
Solution: Total actual CP = (500 × 10 2000) = 7000
And total SP = (5 × 750 5× 550)

= (3750 2750) = 6500

Loss = 7000 – 6500 = 500

Loss percent = 500/7000 × 100

= 50/7 = 7 1/7%

3. On selling 17 balls at 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is?
a) 60 b) 50 c) 40 d) 30

Ans: a

Solution: Let the CP of each ball = x

Then, clearly the cost price of (17 – 5) balls = 720
i.e., 12x = 720
=>; x = 60
i.e. 60
4. I purchased 120 exercise books at the rate of 3 each and sold 1/3 of them at the rate of 4 each, 1/2 of them at the rate of 5 each and the rest at the cost price. My profit percent was?

a) 44 2/3% b) 44 4/9% c) 44 1/4% d) 45 2/7%

Ans: b
Solution: CP of 120 exercise books = (120 × 3) = 360
SP of 40 at 4 each = (40 × 4) = 160

SP of 60 at 5 each = (60 × 5) = 300

SP of remaining 20 books = (20 × 3) = 60

Total SP = (160 300 60) = 520

Profit % = (520 – 360) = 160

 Profit% = 160/360 × 100

= 400/9 = 44 4/9%

5. A man bought pencils at the rate of 6 for 4 and sold them at the rate of 4 for 6. His gain% in the transaction is?

a) 60% b) 80% c) 100% d) 125%

Ans: d
Solution: Let the number of pencils bought = LCM of 4, 6 = 12
CP of 6 pencils = 4

 CP of 12 pencils = 8

SP of 4 pencils = 6

 SP of 12 pencils = 18

Profit = Rs (18 – 8) = 10

Profit % = 10/8 × 100 = 125%

To be continued…

M Venkat
Director

MVK Publications

Dilsukhnagar