Profit and loss concept made easy

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. A coconut merchant finds that the cost price of 2,750 coconuts is the same as the selling price of […]

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. A coconut merchant finds that the cost price of 2,750 coconuts is the same as the selling price of 2,500 coconuts. The loss or gain percent is?

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a) 10% loss b) 25% loss c) 10% gain d) 25 % gain

Ans: c

Solution: Let CP of each coconut be 1.
CP of 2500 coconuts = 2500
SP of 2500 coconuts = 2750
Gain % = (2750 – 2500) / 2500 × 100
= 10%

2. If the selling price of 4 articles is equal to the cost price of 5 articles, the profit percent is?

a) 25% b) 12.8% c) 36% d) 22 1/2 %

Ans: a

Solution: If the CP of each article be 1, then
CP of 4 articles = 4
SP of 4 articles = 5
Profit percent = (5 – 4) /4 × 100 = 25%

3. If the selling price of 10 articles is equal to the cost price of 11 articles, then the gain percent is?

a) 3 % b) 12% c) 10% d) 17%

Ans: c

Solution: Let the CP of each article be 1.
CP of 10 articles = 10
and SP of 10 articles = 11
Profit percent = (11 – 10) / 10 × 100
= 10%

4. The selling price of 10 oranges is the cost price of 13 oranges. Then the profit percentage is?

a) 3% b) 13% c) 33% d) 30%

Ans: d

Solution: Let the CP of 1 orange = 1
SP of 10 oranges = 13
Gain percent = (13 – 10) / 10 × 100
= 30%

5. The cost price of 25 articles is equal to the selling price of 20 of them. The gain or loss percent is?

a) 25% gain b) 72% loss c) 30% loss d) 45% gain

Ans: a

Solution: Percentage profit = (25 – 20)/ 20 × 100
= 25%

6. If the cost price of 10 articles is equal to the selling price of 8 articles, then gain per cent is?

a) 100% b) 75% c) 50% d) 25%

Ans: d

Solution: Profit percent = (10 – 8)/8 × 100
= 25%

7. The cost price of 400 lemons is equal to the selling price of 320 lemons. Then the profit percent is?

a) 45% b) 40% c) 25% d) 20%

Ans: c

Solution: Profit percent = (400 – 320) / 320 × 100
= 80/320 × 100
= 25%

8. The cost price of 24 apples is the same as the selling price of 18 apples. The percentage of gain is?

a) 16 2/3% b) 33 1/3% c) 12 1/2% d) 14 2/3%

Ans: b

Solution: Let the CP of 1 apple = 1
CP of 18 apples = 18
SP of 18 apples = 24
Gain percent = (24 – 18) / 18 × 100
= 6/18 × 100 = 100 / 3 = 33 1/3%

9. The cost price of 20 oranges is same with selling price of 16 oranges. The profit percentage is?

a) 16% b) 18% c) 23% d) 25%

Ans: d

Solution: Gain percent = (20 – 16) / 16 × 100
= 4 / 16 × 100 = 25%

To be continued…