Profit and Loss Questions Answers

• 15. A shopkeeper sold an article for Rs 2564.36. Approximately what was his profit percent if the cost price of the article was Rs 2400

  1. 4%
  2. 5%
  3. 6%
  4. 7%

  Answer :

  Option D

  Explanation:

  Gain % = (164.36*100/2400) = 6.84 % = 7% approx

• 16. A TV is purchased at Rs. 5000 and sold at Rs. 4000, find the lost percent.
  

  1. 10%
  2. 20%
  3. 25%
  4. 28%

  Answer :

  Option B

  Explanation:

  We know, C.P. = 5000
  S.P. = 4000
  Loss = 5000 - 4000 = 1000
  \begin{aligned}
  Loss\% = \left( \frac{Loss}{Cost} * 100 \right)\% \\
  = \left( \frac{1000}{5000} * 100 \right)\% = 20\%
  \end{aligned}

• 17. 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

  1. 70%
  2. 80%
  3. 90%
  4. None of above

  Answer :

  Option A

  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
  
  Required percentage = (295/420) * 100
  = 70%(approx)

• 18. A man bought an article and sold it at a gain of 5 %. If he had bought it at 5% less and sold it for Re 1 less, he would have made a profit of 10%. The C.P. of the article was

  1. Rs 100
  2. Rs 150
  3. Rs 200
  4. Rs 250

  Answer :

  Option C

  Explanation:

  Let original Cost price is x
  Its Selling price = 105/100 * x = 21x/20
  New Cost price = 95/100 * x = 19x/20
  New Selling price = 110/100 * 19x/20 = 209x/200
  [(21x/20) - (209x/200)] = 1
  
  => x = 200

• 19. A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%

  1. Rs 8.81
  2. Rs 9.81
  3. Rs 10.81
  4. Rs 11.81

  Answer :

  Option D

  Explanation:

  85 : 9 = 105 : x
  x= (9×105/85)
  = Rs 11.81

• 20. Akhil purchased 70kg vegetable at Rs. 420, then sold them at the rate of Rs. 6.50 per kg, find the profit percent.

  1. \begin{aligned} 8\frac{1}{3}\% \end{aligned}
  2. \begin{aligned} 7\frac{1}{3}\% \end{aligned}
  3. \begin{aligned} 6\frac{1}{3}\% \end{aligned}
  4. \begin{aligned} 5\frac{1}{3}\% \end{aligned}

  Answer :

  Option A

  Explanation:

  Please note in this type of questions, get the value of 1 kg to solve this question, lets solve it.
  
  C.P. of 1 Kg = 420/70 = Rs. 6
  Selling Price = 6.50
  Gain = Rs. 0.50
  
  \begin{aligned}
  Gain\% = \frac{.50}{6}*100 \\
  = 8\frac{1}{3}\%
  \end{aligned}

• 21. A man buys an article for Rs. 27.50 and sells it for Rs 28.60. Find his gain percent

  1. 1%
  2. 2%
  3. 3%
  4. 4%
  5. Only assumption I is implicit
  6. Only assumption II is implicit
  7. Either I or II is implicit
  8. Neither I nor II is implicit
  9. Both I and II are implicit

  Answer :

  Option E

  Explanation:

  So we have C.P. = 27.50
  S.P. = 28.60
  
  Gain = 28.60 - 27.50 = Rs. 1.10
  
  \begin{aligned}
  Gain\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\
  = \left( \frac{1.10}{27.50} * 100 \right)\% = 4\%
  \end{aligned}