## Profit and Loss Questions and Answers Part-4

1. A shopkeeper purchased 70 kg of potatoes for Rs. 420 and sold the whole lot at the rate of Rs. 6.50 per kg. What will be his gain percent ?
a) $$4\frac{1}{6}$$%
b) $$6\frac{1}{4}$$%
c) $$8\frac{1}{3}$$%
d) 20%

Explanation:
\eqalign{ & {\text{C}}{\text{.P}}{\text{. of 1 kg}} \cr & = {\text{Rs}}.\left( {\frac{{420}}{{70}}} \right) \cr & = {\text{Rs}}{\text{. }}6. \cr & {\text{S}}{\text{.P}}{\text{. of 1 kg}} \cr & = {\text{Rs}}{\text{. }}6.50. \cr & {\text{Gain}}\% = \left( {\frac{{0.50}}{6} \times 100} \right)\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{25}}{3}\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 8\frac{1}{3}\% \cr}

2. A merchant marked cloth at Rs. 50 metre. He offers 2 successive discounts of 15% and 20%. The net price/metre is =?
a) Rs. 32.50
b) Rs. 42.50
c) Rs. 34.00
d) Rs. 40.00

Explanation:
\eqalign{ & 15\% = \frac{3}{{20}}\left( - \right) \cr & 20\% = \frac{1}{5}\left( - \right) \cr}
 Marked Price : Net Price 20 : 17 5 : 4 100 : 68
100 units = Rs. 50
1 unit = Rs. 0.50
68 units = Rs. 34

3. If the cost price of 10 articles is equal to the selling price of 7 articles, then the gain or loss percent is = ?
a) 51% gain
b) $$42\frac{6}{7}$$% gain
c) 35% loss
d) $$42\frac{6}{7}$$% loss

Explanation:
10 Cost Price = 7 Selling Price
\eqalign{ & \frac{{{\text{CP}}}}{{{\text{SP}}}} = \left. {\frac{7}{{10}}} \right\rangle {\text{3 unit profit}} \cr & {\text{Profit}}\% = \frac{3}{7} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 42\frac{6}{7}\% {\text{ gain}} \cr}

4. A coconut merchant finds that the cost price of 2750 coconuts is the same as the selling price of 2500 coconuts. His loss or gain will be =?
a) 5% loss
b) 10% gain
c) 15% loss
d) 20% gain

Explanation:
2750 Cost Price = 2500 Selling Price
\eqalign{ & \frac{{{\text{CP}}}}{{{\text{SP}}}} = \frac{{2500}}{{2750}} = \left. {\frac{{10}}{{11}}} \right\rangle {\text{1 unit profit}} \cr & {\text{Profit}}\% = \frac{1}{{10}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 10\% {\text{ gain}} \cr}

5. By selling an article for Rs. 100 a man gains Rs.15. Then, his gain % is -
a) 15%
b) $$12\frac{2}{3}$$%
c) $$17\frac{{11}}{{17}}$$%
d) $$17\frac{1}{4}$$%

Explanation:
\eqalign{ & {\text{S}}{\text{.P}}{\text{.}} = {\text{Rs}}{\text{. }}100 \cr & {\text{Gain}} = {\text{Rs}}{\text{. }}15. \cr & {\text{C}}{\text{.P}}{\text{.}} = {\text{Rs}}.\left( {100 - 15} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}85 \cr & {\text{Gain }}\% = \left( {\frac{{15}}{{85}} \times 100} \right)\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{300}}{{17}}\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 17\frac{{11}}{{17}}\% \cr}

6. A trader buys some goods for Rs. 150. If the overhead expenses be 12% of cost price, then at what price should it be sold to earn 10% ?
a) Rs. 184.80
b) Rs. 185.80
c) Rs. 187.80
d) Rs. 188.80

Explanation:
Total C.P. = Cost + Overhead Expenses
= Rs. (150 + 12% of 150)
= Rs. (150 + 18)
= Rs. 168
\eqalign{ & {\text{S}}{\text{.P}}{\text{.}} = {\text{Rs}}{\text{.}}\left( {\frac{{110}}{{100}} \times 168} \right) \cr & = {\text{Rs}}{\text{. }}184.80 \cr}

7. If the loss of percent on article is 15%. Then the ratio of the cost price and selling price will be = ?
a) 17 : 20
b) 20 : 17
c) 23 : 15
d) 15 : 23

Explanation:
The loss of percent on article is 15%
\eqalign{ & 15\% = \frac{{15}}{{100}} = \frac{{3 \to {\text{Loss}}}}{{20 \to {\text{C}}{\text{.P}}{\text{.}}}} \cr & {\text{Selling price }} = 17 \cr & {\text{C}}{\text{.P}}{\text{.}}:{\text{S}}{\text{.P}}{\text{.}} = 20:17 \cr}

8. List price of T.V is Rs. 2300 and discount series found to be 25% ans 10%. Then the selling price of T.V is = ?
a) Rs. 1255.50
b) Rs. 1525.50
c) Rs. 1552.50
d) Rs. 1555.20

Explanation:
\eqalign{ & {\text{List price of T}}{\text{.V}} = {\text{2300}} \cr & {\text{Selling price}} \cr & = 2300 \times \frac{{75}}{{100}} \times \frac{{90}}{{100}} \cr & = {\text{Rs}}{\text{. 1552}}{\text{.50}} \cr}

9. Gopi goes from place A to B to bye an article costing 15% less at B, although he spends Rs. 150 on travelling, still he gains Rs. 150 compared to buying it at A. His profit percent is = ?
a) 4.5%
b) 6%
c) 7.5%
d) 8%

Explanation:
Let price at A = 100x
Then price at B = 85x → 15%
Discount
According to the question,
100x - (85x + 150) = 150
15x = 300
x = 20
Price at A = 100 × 20 = 2000
Price at B including travelling charges
= 85x = 150
= 85 × 20 + 150
= 1700 + 150
= 1850
\eqalign{ & {\text{Percentage profit }} \cr & = \frac{{2000 - 1850}}{{2000}} \times 100 \cr & = \frac{{150}}{{2000}} \times 100 \cr & = 7.5\% \cr}

10. If an article is sold at 200 percent profit, then the ratio of its cost price to its selling price will be -
a) 1 : 2
b) 2 : 1
c) 1 : 3
d) 3 : 1