Solve these profit and loss sums

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 shopkeeper bought 15kg of rice at the rate of 29 per kg and 25kg of rice at the rate […]

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 shopkeeper bought 15kg of rice at the rate of 29 per kg and 25kg of rice at the rate of 20 per kg. He sold the mixture of both types of rice at the rate of 27 per kg. His profit in this transaction is?
a) 135 b) 140 c) 145 d) 150
Ans: c
Solution: CP of 40kg of mixture
= (15 × 29 25 × 20)
= (435 500) = 935
SP of 40kg of mixture
= 27 × 40 = 1080
Gain = 1080 – 935 = 145

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2. A, B and C are partners of a company. During a particular year, A received one-third of the profit, B received one-fourth of the profit and C received the remaining 5,000. How much did A receive?
a) 4,000 b) 5,000 c) 6,000 d) 7,000
Ans: a
Solution: Let the profit be x
According to question,
= (1 – 1/3 – 1/4) x = Rs 5000
or (12 – 4 – 3 / 12) x = Rs 5000|
5/12x = Rs 5000
 x = 5000 × 12 / 5
 1/3 = 5000 × 12 / 5 × 3 = Rs 4000

3. A, B and C entered into a partnership. A invested 2,560 and B 2,000. At the end of the year, they gained 1,105, out of which A got 320. C’s capital was?
a) 4,028 b) 4,802 c) 4,820 d) 4,280
Ans: d
Solution: Ratio of investment of A : B
= 2560 : 2000 = 32 : 25
Now, A gained = 320
B gained = 250
Total Profit = 110
C gained = 535
According to question,
250/535 = 2000 / C’s Capital
Hence, C’s capital
= 2000 × 535 / 250 = Rs 4280

4. 864 is divided among A, B and C such that 8 times A’s share is equal to 12 times B’s share and also equal to 6 times C’s share. How much did B get?
a) 546 b) 428 c) 388 d) 192
Ans: d
Solution: 8A = B × 12 = 6C
=>; 8A/24 = 12B/24 = 6C/24
A/3 = B/2 = C/4
 A : B : C = 3 : 2 : 4
 B’s share
= 3/ 3 2 4 × 864
2/9 × 864 = Rs 192

5. A, B and C entered into partnership in a business. A got 3/5 of the profit and B and C distributed the remaining profit equally. If C got 400 less than A, the total profit was?
a) 1000 b) 1200 c) 1400 d) 1600
Ans: a
Solution: Let the total profit be x.
 A ’s share in profit = 3x/5
B ’s share in profit = x / 5
and C ’s share in profit = x / 5
According to the question,
(3x/5 – x/5) = 400
=>; 2x/5 = 400
=>; x = (400 × 5) / 2 = 1000

6. At the beginning of a partnership business, the capital of B was times that of A. After 8 months B withdrew of his capital and after 10 months A withdrew th of his capital. At the end of the year, if the profit incurred is 53,000, find the amount received by A.
a) 23,000 b) 24,000 c) 25,000 d) 26,000
Ans: a
Solution: Initially A’s capital = x
B’s capital = 3x/2
Ratio of the equivalent capitals of A and B for 1 month
(x × 10 3x/4 × 2) : (3x/2 × 8 3x/4 × 4)
(10x 3x/2) : (12x 3x)
= 23 : 30
A’s share = 23/53 × 53000
= Rs 23,000

To be continued…
M Venkat
Director
MVK Publications
Dilsukhnagar