Use profit & loss method correctly

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

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. The ratio of cost price and selling price of an article is 8 : 9. The profit per cent is?
a) 15% b) 12.5% c) 17.5% d) 20%

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Ans: b
Solution:
Let the CP = 8x and SP = 9x

 Profit = (9x – 8x) = x
Profit % = x / 8x × 100
2. If an article is sold at 200% profit, then the ratio of its cost price to its selling price will be?

a) 3 : 1 b) 1 : 3 c) 1 : 2 d) 2 : 1

Ans: b

Solution:

If CP = 100
SP = 300 [gain being 200%]
 Required ratio = 1 : 3

3. A shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed price. The ratio of the cost price and the printed price of the book is?

a) 99 : 100 b) 52 : 37 c) 55 : 65 d) 45 : 56
Ans: d
Solution:
Let the printed price of the book be x.
 Selling price = 90% of x = x × 90/100 = 9x /10
If the CP of the book be y, then y × 112/100 = 9x/10

y/x = 9/10 × 100/112 = 45/56
or 45 : 56

4. An article is sold at 5% profit. The ratio of selling price and cost price will be?

a) 21 : 20 b) 20 : 21 c) 12 : 10 d) 21 : 1

Ans: a

Solution:

Let CP be 100 then,
SP = 105 [gain being 5%]

Required ratio = 105 : 100 = 21 : 20
5. If the cost price and selling price of an article are in the ratio 10 : 11, then the percentage of profit is?

a) 10% b) 8% c) 6% d) 3%
Ans: a

Solution: Let Cost price = 10x

Selling price = 11x
 Gain per cent = {(11x – 10x) / 10x} × 100

= x/10x × 100

= 10%
6. If the ratio of cost price and the selling price is 5 : 6, the gain per cent is?

a) 10% b) 33 c) 25% d) 20%

Ans: d
Solution: Let the cost price = 5x
and the selling price = 6x

 Gain % = 6x – 5x / 5x × 100
= 20%

7. A invests 64,000 in a business. After few months B joined him with 48,000. At the end of year, the total profit was divided between them in the ratio 2 : 1. After how many months did B join?

a) 1 b) 2 c) 3 d) 4

Ans: d

Solution: B entered after x months

Ratio of equivalent capitals for 1 month
= 64000 × 12 : 48000 (12 – x)
= 16 : (12 – x)
 16/12 – x = 2/1
=>; 24 – 2x = 16

2x = 8 =>; x = 4 months
8. The cost price : selling price of an article is a : b. If b is 200% of a, then the percentage of profit on cost price is?
a) 300% b) 200% c) 100% d) 400%

Ans: c
Solution: b = a × 200/100 = 2a
b/a = 2 =>; b/a – 1 = 2 – 1

=>; b- a/ a = 1 =>; b-a / a × 100 = 100

 Gain per cent = 100%

To be continued…
M Venkat

Director
MVK Publications
Dilsukhnagar