Profit and Loss Questions Answers

• 22. If the cost price of 12 items is equal to the selling price of 16 items, the loss percent is

  1. 20%
  2. 25%
  3. 30%
  4. 35%

  Answer :

  Option B

  Explanation:

  Let the Cost Price of 1 item = Re. 1
  Cost Price of 16 items = 16
  Selling Price of 16 items = 12
  
  Loss = 16 - 12 = Rs 4
  
  Loss % = (4/16)* 100 = 25%

• 23. A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain is.

  1. 20%
  2. 21%
  3. 22%
  4. 23%

  Answer :

  Option B

  Explanation:

  \begin{aligned}
  Gain\% = \\ \left( \frac{(100 + \text{common gain}\%)^2}{100} - 100 \right)\% \\
  = \left( \frac{(100 + 10)^2}{100} - 100 \right)\% \\
  = \left( \frac{12100 - 10000}{100}\right)\% \\
  = 21\%
  
  \end{aligned}

• 24. A shopkeeper expects a gain of 45/2 % on his C.P. If his sale was Rs. 392, then find his profit.

  1. Rs. 70
  2. Rs. 72
  3. Rs. 74
  4. Rs. 76

  Answer :

  Option B

  Explanation:

  We Know,
  
  \begin{aligned}
  S.P. = \left( \frac{100+gain\%}{100} * C.P \right)\\
  => C.P. = \frac{100}{122.50}* 392 \\
  = 320 \\
  
  Profit = 392 -320 = Rs 72
  \end{aligned}

• 25. A producer of tea blends two varieties of tea from two tea gardens one costing Rs 18 per kg and another Rs 20 per kg in the ratio 5 : 3. If he sells the blended variety at Rs 21 per kg, then his gain percent is

  1. 12%
  2. 13%
  3. 14%
  4. 15%

  Answer :

  Option A

  Explanation:

  Suppose he bought 5 kg and 3 kg of tea.
  Cost Price = Rs. (5 x 18 + 3 x 20) = Rs. 150.
  Selling price = Rs. (8 x 21) = Rs. 168.
  Profit = 168 - 150 = 18
  
  So, Profit % = (18/150) * 100 = 12%

• 26. In terms of percentage profit, which among following the best transaction.

  1. C.P. 36, Profit 17
  2. C.P. 50, Profit 24
  3. C.P. 40, Profit 19
  4. C.P. 60, Profit 29

  Answer :

  Option D

  Explanation:

  Hint: Calculate profit percent as
  
  Profit% = (profit/cost) * 100

• 27. The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs 3. The ratio of two selling prices is

  1. 51:52
  2. 52:53
  3. 53:54
  4. 54:55

  Answer :

  Option B

  Explanation:

  Let the Cost price of article is Rs. x
  
  Required ratio =
  \begin{aligned}
  \frac{104\% \text{ of } x}{106\% \text{ of } x} \\
  = \frac{104}{106} = \frac{52}{53} = 52:53
  \end{aligned}

• 28. A shopkeeper sells a transistor at Rs. 840 at a gain of 20% and another for Rs. 960 at the loss of 4%. Find his total gain percent.

  1. \begin{aligned} 5\frac{12}{17}\% \end{aligned}
  2. \begin{aligned} 5\frac{13}{17}\% \end{aligned}
  3. \begin{aligned} 5\frac{14}{17}\% \end{aligned}
  4. \begin{aligned} 5\frac{15}{17}\% \end{aligned}

  Answer :

  Option D

  Explanation:

  In this type of question, we will first find total C.P. of items, then total S.P. of items, then we will get gain or loss. From which we can easily calculate its percentage.
  
  So lets solve it now.
  \begin{aligned}
  \text{So, C.P. of 1st transistor = }\\
  \left( \frac{100}{120} * 840 \right) = 700 \\
  
  \text{C.P. of 2nd transistor = }\\
  \left( \frac{100}{96} * 960 \right) = 1000 \\
  
  \text{Total C.P. = 1700 }\\
  \text{Total S.P. = 1800 }\\
  \text{Gain = 1800 - 1700 = 100}\\
  \text{Gain% = } \left( \frac{100}{1700} * 100 \right) \\
  = 5\frac{15}{17}\%
  \end{aligned}