Profit and Loss

1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs.
s. If he sells the scooter

for Rs. 5800, his gain percent is:
4 5
A. 4 % B. 5 %
7 11
C. 10% D. 12%
Answer & Explanation
Answer: Option B
Explanation:
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.
Selling Price (S.P.) = Rs. 5800.
Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.
300 5
Gain % = x 100 =5 %
5500 11
%
View Answer Workspace Report Discuss in Forum
2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then
the value of x is:
A. 15 B. 16
C. 18 D. 25
Answer: Option B
Explanation:
Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.
S.P. of x articles = Rs. 20.
Profit = Rs. (20 - x).
20 - x
x 100 = 25
x
2000 - 100x = 25x

125x = 2000
x = 16.
3. If selling price is doubled, the profit triples. Find the profit percent.
2
A. 66 B. 100
3
1
C. 105 D. 120
3
Answer: Option B
Explanation:
Let C.P. be Rs. x and S.P. be Rs. y.
Then, 3(y - x) = (2y - x) y = 2x.
Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.
x
Profit % = x 100
x
% = 100%
4. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price
remains constant, approximately what percentage of the selling price is the profit?
A. 30% B. 70%
C. 100% D. 250%
Answer: Option B
Explanation:
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420.

Profit = Rs. (420 - 125) = Rs. 295.
295 1475
Required percentage = x 100 = % = 70% (approximately).
420 21
%
5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
A. 3 B. 4
C. 5 D. 6
Answer: Option C
Explanation:
C.P. of 6 toffees = Re. 1
6
S.P. of 6 toffees = 120% of Re. 1 = Rs.
5
6
For Rs. , toffees sold = 6.
5
5
For Re. 1, toffees sold = 6x = 5.
6
6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss
incurred by selling the same article for Rs. 1280. At what price should the article be sold to make
25% profit?
A. Rs. 2000 B. Rs. 2200
C. Rs. 2400 D. Data inadequate
Answer: Option A
Explanation:
Let C.P. be Rs. x.
1920 - x x - 1280
Then, x 100 = x 100
x x
1920 - x = x - 1280
2x = 3200
x = 1600
125
Required S.P. = 125% of Rs. 1600 = Rs. x 1600 = Rs 2000.
100
7. A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392,
what was his profit?
A. Rs. 18.20 B. Rs. 70
C. Rs. 72 D. Rs. 88.25
Answer: Option C
Explanation:
100 1000
C.P. = Rs. x 392 = Rs. x 392 = Rs. 320
122.5 1225
Profit = Rs. (392 - 320) = Rs. 72.
8. A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the
cycle?
A. Rs. 1090 B. Rs. 1160
C. Rs. 1190 D. Rs. 1202
Answer: Option C
Explanation:
85
S.P. = 85% of Rs. 1400 = Rs. x 1400 = Rs. 1190
100
9. Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at
the rate of Rs. 33. What was his percentage profit?
A. 3.5 B. 4.5
C. 5.6 D. 6.5
Answer: Option C
Explanation:
375
Cost Price of 1 toy = Rs. = Rs. 31.25
12
Selling Price of 1 toy = Rs. 33
So, Gain = Rs. (33 - 31.25) = Rs. 1.75
1.75 28
Profit % = x 100 = % = 5.6%
31.25 5
%
10. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:
1
A. 30% B. 33 %
3
C. 35% D. 44%
Answer: Option D
Explanation:
Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.
5
C.P. of 30 articles = Rs. x 30 = Rs. 25.
6
6
S.P. of 30 articles = Rs. x 30 = Rs. 36.
5
11
Gain % = x 100
25
% = 44%.
11. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a
ball is:
A. Rs. 45 B. Rs. 50
C. Rs. 55 D. Rs. 60
Answer: Option D
Explanation:
(C.P. of 17 balls) - (S.P. of 17 balls) = (C.P. of 5 balls)
C.P. of 12 balls = S.P. of 17 balls = Rs.720.
720
C.P. of 1 ball = Rs. = Rs. 60.
12
12. When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in
order to gain 15%?
A. Rs. 21,000 B. Rs. 22,500
C. Rs. 25,300 D. Rs. 25,800
Answer: Option C
Explanation:
85 : 18700 = 115 : x
18700 x 115
x= = 25300.
85
Hence, S.P. = Rs. 25,300.
13. 100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The
percentage of profit or loss is:
2
A. 14 % gain B. 15% gain
7
2
C. 14 % loss D. 15 % loss
7
Answer: Option A
Explanation:
350
C.P. of 1 orange = Rs. = Rs. 3.50
100
48
S.P. of 1 orange = Rs. = Rs. 4
12
0.50 100 2
Gain% = x 100 = % = 14 %
3.50 7 7
%
14. A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of
4%. His total gain or loss percent is:
15 15
A. 5 % loss B. 5 % gain
17 17
2
C. 6 % gain D. None of these
3
Answer: Option B
Explanation:
100
C.P. of 1st transistor = Rs. x 840 = Rs. 700.
120
100
C.P. of 2nd transistor = Rs. x 960 = Rs. 1000
96
So, total C.P. = Rs. (700 + 1000) = Rs. 1700.
Total S.P. = Rs. (840 + 960) = Rs. 1800.
100 15
Gain % = x 100 =5 %
1700 17
%
15. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg
and sells the mixture at Rs. 30 per kg. His profit percent is:
A. No profit, no loss B. 5%
C. 8% D. 10%
E. None of these
Answer: Option B
Explanation:
C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.
S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.
80
Gain = x 100
1600
% = 5%.

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Profit and Loss

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1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs.

s. If he sells the scooter

Answer & Explanation

Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.

Selling Price (S.P.) = Rs. 5800.

Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.

Answer & Explanation

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.

S.P. of x articles = Rs. 20.

Profit = Rs. (20 - x).

2000 - 100x = 25x

View Answer Workspace Report Discuss in Forum

Let C.P. be Rs. x and S.P. be Rs. y.

Then, 3(y - x) = (2y - x) y = 2x.

Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.

Answer & Explanation

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs. 420.

Answer & Explanation

C.P. of 6 toffees = Re. 1

A. Rs. 2000 B. Rs. 2200

C. Rs. 2400 D. Data inadequate

Answer & Explanation

Let C.P. be Rs. x.

A. Rs. 18.20 B. Rs. 70

C. Rs. 72 D. Rs. 88.25

Answer & Explanation

Profit = Rs. (392 - 320) = Rs. 72.

View Answer Workspace Report Discuss in Forum

A. Rs. 1090 B. Rs. 1160

C. Rs. 1190 D. Rs. 1202

Answer & Explanation

Answer & Explanation

Selling Price of 1 toy = Rs. 33

So, Gain = Rs. (33 - 31.25) = Rs. 1.75

Answer & Explanation

Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.

Answer & Explanation

(C.P. of 17 balls) - (S.P. of 17 balls) = (C.P. of 5 balls)

C.P. of 12 balls = S.P. of 17 balls = Rs.720.

A. Rs. 21,000 B. Rs. 22,500

C. Rs. 25,300 D. Rs. 25,800

Answer & Explanation

Hence, S.P. = Rs. 25,300.

View Answer Workspace Report Discuss in Forum

So, total C.P. = Rs. (700 + 1000) = Rs. 1700.

Total S.P. = Rs. (840 + 960) = Rs. 1800.

Answer & Explanation

S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.

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