Solve these problems on profit & loss

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

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. By selling an article, a man makes a profit of 25% of its selling price. His profit percent is?
a) 20% b) 25% c) 16 2/3% d) 33 1/3%
Ans: d

Solution: If the SP of article be x, then its

---

CP = x – x/4 = Rs 3x/4

 Gain % = (x/4)/(3x/4) × 100
= 100/3 = 33 1/3%
2. A man purchased a bed sheet for Rs 450 and sold it at a gain of 10% calculated on the selling price. The selling price of the bedsheet was?

a) Rs 400 b) Rs 500 c) Rs 450 d) Rs 550
Ans: b

Solution: Let the SP of the bed sheet be Rs x.

 450 (100 × x)/100 = x

=>; x – x/10 = 450

=>; 9x/10 = 450
=>; x = (450 × 10)/9 = Rs 500

3. A salesman expects a gain of 13% on his cost price. If in a month his sale was 7,91,000, what was his profit?

a) 35,459 b) 24,580 c) 92,500 d) 91,000

Ans: d

Solution: Cost price

(791000 × 100) / 113 = 700000

 Gain = 791000 – 700000

= 91000

4. If there is a profit of 20% on the cost price of an article, the percentage of profit calculated on its selling price will be?

a) 16 2/3 b) 20 c) 35 d) 18 1/3

Ans: a
Solution: Tricky Approach
If the cost price is 100,
then selling price = 120 and gain = Rs 20
Required gain % = 20/120 × 100

= 50/3 = 16 2/3%

5. By selling an article for Rs 960 a man incurs a loss of 4%. What was the cost price?
a) Rs 1,500 b) Rs 498 c) Rs 1,000 d) Rs 245

Ans: c
Solution: CP of article
= {100/(100 – loss percent)} × SP
= 100/ 96 × 960 = Rs 1000

6. By selling a car for Rs 64,000, Mr Reddy lost 20%. Then. the cost price of the car is?

a) Rs 80,000 b) Rs 90,000 c) Rs 10,0000 d) Rs 1,10,000

Ans: a

Solution: Cost price

64000 × 100 / 80

= Rs 80,000

7. An item when sold for Rs 1,690 earned 30% profit on the cost price. Then the cost price is?

a) Rs 530 b) Rs 1,300 c) Rs 1,000 d) Rs 230

Ans: b
Solution: If the CP be x, then
x × 130/100 = 1690
x = 1690 × 100 / 130 = 1300

8. By selling 33 metres of cloth, a person gains the cost of 11 metres. Find his gain%.

a) 34 1/3% b) 33% c) 31 1/2% d) 33 1/2%
Ans: d
Solution: Gain per cent
11/33 × 100 = 100/3 = 33 1/3%
9. A retailer buys a radio for 225. His overhead expenses are 15. He sells the radio for 300. The profit percent of the retailer is?

a) 23% b) 33 1/3% c) 25% d) 26 2/3%
Ans: c
Solution: Actual C.P. = 225 15 = 240
Gain = 300 – 240 = 60
 Gain per cent = 60/240 × 100 = 25%
10. A fan is listed at Rs 150 and a discount of 20% is given. Then the selling price is?

a) 80 b) 100 c) 120 d) 140

Ans: c

Solution: SP of the fan = 150 × 80 / 100

= Rs 120

To be continued…
M Venkat

Director
MVK Publications
Dilsukhnagar
7671002120