Profit and Loss Questions Answers

• 8. If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is ?

  1. 12%
  2. 30%
  3. 50%
  4. 60%
  5. 1997
  6. 1996
  7. 1999
  8. 2001

  Answer :

  Option F

  Explanation:

  Friends, we know we will need gain amount to get gain percent, right. So lets get gain first.
  
  Let the cost price of 1 pen is Re 1
  Cost of 8 pens = Rs 8
  Selling price of 8 pens = 12
  Gain = 12 - 8 = 4
  
  \begin{aligned}
  Gain\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\
  = \left( \frac{4}{8} * 100 \right)\% = 50\%
  \end{aligned}
  

• 9. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find out the value of x

  1. 13
  2. 14
  3. 15
  4. 16

  Answer :

  Option D

  Explanation:

  Let the Cost Price of one article = Rs. 1
  CP of x articles = Rs. x
  CP of 20 articles = 20
  Selling price of x articles = 20
  
  Profit = 25% [Given]
  
  \begin{aligned}
  \Rightarrow \left (\dfrac{SP - CP }{CP}\right ) = \dfrac{25}{100} = \dfrac{1}{4}
  
  & \Rightarrow \dfrac{\left(20-x \right )}{x} = \dfrac{1}{4} \\
  & \Rightarrow 80 - 4x = x \\
  & \Rightarrow 5x = 80 \nonumber \\
  & \Rightarrow x = \dfrac{80}{5} = 16 \\
  
  \end{aligned}

• 10. If the manufacturer gains 10 %, the wholesale dealer 15 % and the retailer 25 %, then find the cost of production of a table if the retail price was Rs 1265

  1. Rs. 750
  2. Rs. 800
  3. Rs. 850
  4. Rs. 900

  Answer :

  Option B

  Explanation:

  Let the cost of Production = Rs. P
  Then, as per question,
  
  \begin{aligned}
  => \left( \frac{125}{100} *\frac{115}{100}*\frac{110}{100} * P \right) = 1265\\
  => \frac{253}{160}P = 1265 \\
  => P = 800
  \end{aligned}

• 11. Sahil purchased a machine at Rs 10000, then got it repaired at Rs 5000, then gave its transportation charges Rs 1000. Then he sold it with 50% of profit. At what price he actually sold it.

  1. Rs. 22000
  2. Rs. 24000
  3. Rs. 26000
  4. Rs. 28000

  Answer :

  Option B

  Explanation:

  Question seems a bit tricky, but it is very simple.
  Just calculate all Cost price, then get 150% of CP.
  
  C.P. = 10000 + 5000 + 1000 = 16000
  
  150% of 16000 = 150/100 * 16000 = 24000

• 12. A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be.
  

  1. 130%
  2. 140%
  3. 150%
  4. 160%

  Answer :

  Option B

  Explanation:

  Let the C.P. = x,
  Then S.P. = (120/100)x = 6x/5
  New S.P. = 2(6x/5) = 12x/5
  
  Profit = 12x/5 - x = 7x/5
  
  Profit% = (Profit/C.P.) * 100
  => (7x/5) * (1/x) * 100 = 140 %
  
  

• 13. A plot is sold for Rs. 18,700 with a loss of 15%. At what price it should be sold to get profit of 15%.

  1. Rs 25300
  2. Rs 22300
  3. Rs 24300
  4. Rs 21300

  Answer :

  Option A

  Explanation:

  This type of question can be easily and quickly solved as following:
  
  Let at Rs x it can earn 15% pr0fit
  85:18700 = 115:x [as, loss = 100 -15, Profit = 100 +15]
  
  x = (18700*115)/85
  = Rs.25300
  

• 14. A man buys an item at Rs. 1200 and sells it at the loss of 20 percent. Then what is the selling price of that item

  1. Rs. 660
  2. Rs. 760
  3. Rs. 860
  4. Rs. 960

  Answer :

  Option D

  Explanation:

  Here always remember, when ever x% loss,
  it means S.P. = (100 - x)% of C.P
  when ever x% profit,
  it means S.P. = (100 + x)% of C.P
  
  So here will be (100 - x)% of C.P.
  = 80% of 1200
  = 80/100 * 1200
  = 960