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. A shop-keeper sold a sewing machine for 1,080 at a loss of 10%. At what price should he sell so as to gain 10% on it?

a) 1,069 b) 1,200 c) 1,230 d) 1,320
Ans: d
Solution:
Cost price of sewing machine = 1080 x 100/90

= Rs 1200

S.P. for a profit of 10%
= 1200 x 110/ 100 = Rs 1320

2. A fruit-seller buys some oranges and by selling 40% of them he realises the cost price of all the oranges. As the oranges begin to grow over-ripe, he reduces the price and sells 80% of the remaining oranges at half the previous rate of profit. The rest of the oranges being rotten are thrown away. The overall percentage of profit is?

a) 84 b) 94 c) 104 d) 114

Ans: a

Solution:

Number of oranges bought = 100 (let)
C.P. = 100 (let)
S.P of 40 oranges = 100
Gain percent = 100 – 40/40 x 100
= 150 %
Remaining oranges = 60
Their 80 % = 60 x 80/100
These are sold at a profit of 75 %

Their S.P. = 48 x 175/100 = Rs 84

Gain per cent = 84%

3. By selling an article for 102, there is a loss of 15%, when the article is sold for 134.40, the net result in the transaction is?

a) 12% loss b) 12% gain c) 10% gain d) 10% loss

Ana: b

Solution:

C.P. of article
= 100/ 100 – loss percent x S.P.
= 100/100 – 15 x 102

On selling at Rs.134.40,

Gain = (134.4 – 120)

= 14.4

Gain per cent = 14.4/120 x 100 = 12%

4. An item costing 200 is being sold at 10% loss. If the price is further reduced by 5%, the selling price will be?

a) 171 b) 172 c) 173 d) 174
Ans: a
Solution:
First S.P. of article = 200 x 90/100

= Rs 180
After decrease of 5%,

S.P. = 180 x 95/ 100

= Rs 171

5. A sold a horse to B for 4800 by losing 20%. B sells it to C at a price which would have given A a profit of 15%. B’s gain is?

a) 1500 b) 2000 c) 1600 d) 2100
Ans: d
Solution:
For A,

C.P. of horse = 4800 x 100/80

= Rs 6000

For B,

S.P. = 6000 x 115/100

= Rs 6900

B’s profit = Rs (6900 – 4800)

= 2100

6. Two toys are sold at 504 each. One toy brings the dealer a gain of 12% and the other a loss of 4%. The gain or loss per cent by selling both the toys is?

a) 3 5/13% Profit b) 4 5/13% profit c) 5 5/13% profit d) 2 5/13% loss

Ans: a

Solution:

C.P. of first toy = Rs. x
C.P. of second toy =Rs. y
x x 112/100 = 504
=>; x = 504 x 100/112 = Rs 450
Again, y x 96/100 = 504
=>;y = 504 x 100/96 = Rs 525
Total C.P. = (450 525) = 975