Master these sums on profit and loss
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. 1. A milkman bought 70 litres of milk for 630 and added 5 litres of water. If he sells it at Rs.9 per litre, his profit […]
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.
1. A milkman bought 70 litres of milk for 630 and added 5 litres of water. If he sells it at Rs.9 per litre, his profit percentage is?
a) 4.8% b) 6.2% c) d)
Ans: c
Solution: CP of 75 litres of mixture of milk and water = 630
SP of 75 litres of mixture of milk and water = 9 × 75 = 675
Gain = 675 – 630 = 45
Gain percent = 45/630 x 100
= 50/7 = 7 1/7 %
2. A man buys a cycle for Rs.1400 and sells it at a loss of 15%. What is the selling price of the cycle?
a) 1190 b) 1250 c) 1352 d) 1555
Ans: a
Solution: Selling price
= 1400 x 100-15/100
= 1400 x 85/100 = Rs 1190
3. A man bought an old typewrite for R 1200 and spent Rs 200 on its repair. He sold it for Rs 1680. His profit percent is?
a) 10% b) 30% c) 20% d) 36%
Ans: c
Solution: Total cost of typewriter
= Rs (1200 200) = Rs 1400
SP = Rs 1680
Profit = Rs (1680 – 1400)
= Rs 280
Profit % = 280/1400 x 100 = 20%
4. Shivan bought a camera and paid 20% less than its original price. He sold it at 40% profit on the price he had paid. The percentage of profit earned by Krishnan on the original price was?
a) 32% b) 52% c) 22% d) 12%
Ans: d
Solution: Let the original price be x
= 80/100 x x = Rs 4x/5
SP = 4x/5 x 140/100 = Rs 28x/ 25
Gain on original price
28x/5 – x = 3x/25
Gain % = 3x/25 x 100
= 12%
5. A merchant buys an article for Rs.27 and sells it at a profit of 10% of the selling price. The selling price of the article is?
a) 28 b) 35 c) 30 d) 42
Ans: c
Solution: S.P. – C.P. = 10 SP/100 = SP/10
=>; SP – SP/100 = CP = 27
=>; SP 27x 10/9 = Rs 3
6. By what per cent must the cost price be raised in fixing the sale price in order that there may be a profit of 20% after allowing a commission of 10%?
a) 33 1/3% b) 133% c) 133 1/3% d) 33%
Ans: a
Solution: Let the CP = 100
Then, SP = 120
Let the marked price = x.
Then, 90% of x = Rs.120
=>; x
=120 x 100/ 90 = 400/3 = 133 1/3%
Hence, the marked price is 33 1/3% above the cost price
7. If the cost price of an article is 80% of its selling price, the profit per cent is?
a) 35 % b) 25% c) 54% d) 22 1/2%
Ans: b
Solution: S.P. = 100
C.P. = 80
Gain = Rs. 20
Gain per cent = 20/80 x 100 = 25%
To be continued…
