Profit and Loss Formulas, Shortcuts, Examples, Questions

Profit and Loss - Shortcuts and Formulas

Cost Price (C.P): Price at which an article is purchased, is called its cost price.
Selling Price (S.P): Price at which an article is sold, is called its selling prices.
Loss: If S.P. is less than C.P., the seller is said to have incurred a loss.
Profit or Gain: If S.P. is greater than C.P., the seller is said to have a profit or gain.

If the Selling Price is is more than the Cost Price we can Make Profit. or If the Cost Price is more than the Selling Price then we will end up with Loss.
Profit = Selling Price (S.P) - Cost Price (C.P)

Percentage of Profit / Loss is calculated on the cost price by the following formula

Profit Percent = (Profit / Cost Price) X 100
Loss = Cost Price (C.P) - Selling Price (S.P)
Loss Per Cent = (Loss / Cost Price) X 100

Note :
1. Profit Or Loss Per Cent is always calculated on C.P and not in S.P
2. Overhead expenses like Packaging, Transportation etc. are always added to the cost price to get the total C.P. and then profit per cent or loss per cent is calculated on this total cost price.
3. When the C.P and the S.P are given for different number of articles, first of all find C.P and S.P of equal number of articles and then only calculate profit per cent or loss per cent.

Marked Price and Discount: When we go to a shop, we find price tags attached to the goods. The original price written on the price tag is called the "Marked Price". Sometimes, a reduction or concession is given on some Goods. We call this reduction as "Discount" . In Business, Discount is to attract the customers. More the sale, More the Profit . Discount is given directly in terms of Money or in terms of other attractive articles. Direct discount is given on the labelled price. Which is much more than the actual cost price the seller has to pay. It is calculated in percentage. Seller gets profit even after giving discount to you.

The discount is always calculated on the Marked Price

Profit and Loss Formulas

Gain = (S.P.) - (C.P.)
Loss = (C.P.) - (S.P.)
Loss or gain is always reckoned on C.P.
Gain Percentage: Gain% = $\left [ \frac{(Gain\times 100 )}{CP} \right ]$
Loss Percentage: Loss% = $\left [ \frac{(Loss\times 100 )}{CP} \right ]$
Selling Price: SP = $\left [ \frac{(100 + Gain \% )}{100}\times C.P \right ]$
Selling Price: SP = $\left [ \frac{(100 - Loss \% )}{100}\times C.P \right ]$
Cost Price: CP = $\left [ \frac{(100 )}{100 + Gain \%}\times S.P \right ]$
Cost Price: CP = $\left [ \frac{(100 )}{100 - Loss \%}\times S.P \right ]$
If an article is sold at a loss of say, 35% then S.P. = 65% of C.P.

Profit and Loss Questions from Previous Year Exam

IBPS Questions related to profit and loss.

Question 1 of 38

1. Question
A man sold 250 chairs and had a gain equal to selling price of 50 chairs. His profit percent is.
- 5 %
- 25 %
- 10 %
- 50 %
Correct

sell price of 200 chairs = cost price of 250 chairs

let cost price of each chair is Rs 1

cost price of 200 chairs = 200

sell price of 200 chairs = 250

gain % = $\frac{50}{200}\times 100$ = 25%

(since; gain = sp of 250 chairs - cost price of 250chairs hence sp of 250 chairs - cost price of 250 chairs = SP of 50 chairs)

Incorrect

sell price of 200 chairs = cost price of 250 chairs

let cost price of each chair is Rs 1

cost price of 200 chairs = 200

sell price of 200 chairs = 250

gain % = $\frac{50}{200}\times 100$ = 25%

(since; gain = sp of 250 chairs - cost price of 250chairs hence sp of 250 chairs - cost price of 250 chairs = SP of 50 chairs)
Question 2 of 38

2. Question
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%?
- Rs. 21,000
- Rs. 22,500
- Rs. 25,300
- Rs. 25,800
Correct

85 : 18700 = 115 : x

$\Rightarrow x=\left(\frac{18700\times 115}{85}\right)$ = 25300.

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

Incorrect

85 : 18700 = 115 : x

$\Rightarrow x=\left(\frac{18700\times 115}{85}\right)$ = 25300.

Hence, S.P. = Rs. 25,300
Question 3 of 38

3. Question
A man buys an article for Rs. 27.50 and sells it for Rs 28.60. Find his gain percent
- 1%
- 2%
- 3%
- 4%
Correct

C.P of an article= 27.50

S.P of an article = 28.60

gain= SP- CP

28.60 - 27.50= 1.10

Gain% = $\left(\frac{Gain}{Cost}\times 100 \right)$ %

$\frac{1.10}{27.50}\times 100$ % = 4 %

Incorrect

C.P of an article= 27.50

S.P of an article = 28.60

gain= SP- CP

28.60 - 27.50= 1.10

Gain% = $\left(\frac{Gain}{Cost}\times 100 \right)$ %

$\frac{1.10}{27.50}\times 100$ % = 4 %
Question 4 of 38

4. Question
If by selling 110 mangoes, the C.P. of 120 mangoes is realised, the gain percentage is :
- 9 .011 %
- 9 .0101%
- 9.1010 %
- 9.0011 %
Correct

Let C.P. of each mango be Rs. 1.

C.P. of 110 mangoes = Rs. 110;

By selling 110 mangoes, the C.P. of 120 mangoes is realised, therefore

S.P. of 110 mangoes = Rs. 120.

Gain = $\frac{10}{110}\times 100=\frac{100}{11}$ = 9 .0101%

Incorrect

Let C.P. of each mango be Rs. 1.

C.P. of 110 mangoes = Rs. 110;

By selling 110 mangoes, the C.P. of 120 mangoes is realised, therefore

S.P. of 110 mangoes = Rs. 120.

Gain = $\frac{10}{110}\times 100=\frac{100}{11}$ = 9 .0101%
Question 5 of 38

5. Question
A merchant who marked his goods up by 50% subsequently offered a discount of 20%. What is the percentage profit that the merchant make after offering the discount?
- 50%
- 10%
- 15%
- 17.33%
- 20%
Correct

Let cost price = 100

The merchant marks his goods up by 50%.

Therefore, his quoted price = cost price + mark up

= 100 + 50% of 100 = 100 + 50 = 150

Now, the merchant offers a discount of 20% on his quoted price

Therefore, amount of discount = 20% of 150 = 20% of 150 = 30

Therefore, he finally sells it for 150 - 30 = 120.

We assumed his cost to be 100 and he sold it finally for 120.

Therefore, his net profit = 20 on his cost of 100

Hence, his % profit = $\frac{20}{100}\times 100$ = 20%.

Incorrect

Let cost price = 100

The merchant marks his goods up by 50%.

Therefore, his quoted price = cost price + mark up

= 100 + 50% of 100 = 100 + 50 = 150

Now, the merchant offers a discount of 20% on his quoted price

Therefore, amount of discount = 20% of 150 = 20% of 150 = 30

Therefore, he finally sells it for 150 - 30 = 120.

We assumed his cost to be 100 and he sold it finally for 120.

Therefore, his net profit = 20 on his cost of 100

Hence, his % profit = $\frac{20}{100}\times 100$ = 20%.
Question 6 of 38

6. Question
By selling 45 lemons for Rs 40, a man loses 20 %. How many should he sell for Rs 24 to gain. 20 % in the transaction ?
- 16
- 20
- 22
- 18
Correct

Let S.P. of 45 lemons is Rs 40

And he sell them of 20 % loss

Therefore cp of 45 lemon = $\frac{100}{80}\times 40$

CP of 1 lemon = $\frac{50}{45}=\frac{10}{9}$

sp of new transaction = 24

But we want gain of 20 %

Therefore cp = $\frac{100}{120}\times 24$

The cp of 1 lemon = $\frac{9}{10}\times 20$ = 18

Incorrect

Let S.P. of 45 lemons is Rs 40

And he sell them of 20 % loss

Therefore cp of 45 lemon = $\frac{100}{80}\times 40$

CP of 1 lemon = $\frac{50}{45}=\frac{10}{9}$

sp of new transaction = 24

But we want gain of 20 %

Therefore cp = $\frac{100}{120}\times 24$

The cp of 1 lemon = $\frac{9}{10}\times 20$ = 18
Question 7 of 38

7. Question
The ratio of the cost price and the selling price is 4 : 5. The profit percent is :
- 10%
- 20%
- 25%
- 30%
Correct

The S.P and C.P is 5 and 4

Gain= S.P - C.P= 5 - 4 = 1

Gain%= $\left ( \frac{1}{4}\times 100 \right )$ % = 25%

Incorrect

The S.P and C.P is 5 and 4

Gain= S.P - C.P= 5 - 4 = 1

Gain%= $\left ( \frac{1}{4}\times 100 \right )$ % = 25%
Question 8 of 38

8. Question
A man buys an article for 10% less than its value and sells it for 10% more than its value. His gain or loss percent is :
- no profit, no loss
- 20% profit
- less than 20% profit
- more than 20% profit
Correct

Let the value of the article be Rs. 100.

The man buys for 10% less than its value, therfore he buys for Rs. 90.

The man sells for 10% more than its value, therfore he sells for Rs. 110.

Obviously, he makes gain and the gain = 110 - 90 = 20

In percentage, Gain = $\frac{20}{90}\times 100=\frac{200}{9}$ = 22.22 %

Thus, he makes more than 20% profit.

Incorrect

Let the value of the article be Rs. 100.

The man buys for 10% less than its value, therfore he buys for Rs. 90.

The man sells for 10% more than its value, therfore he sells for Rs. 110.

Obviously, he makes gain and the gain = 110 - 90 = 20

In percentage, Gain = $\frac{20}{90}\times 100=\frac{200}{9}$ = 22.22 %

Thus, he makes more than 20% profit.
Question 9 of 38

9. Question
A TV is purchased at Rs. 5000 and sold at Rs. 4000, find the lost percent.
- 10%
- 20%
- 25%
- 28%
Correct

The C.P and S.P is 5000 and 4000.

loss= CP-SP

loss= $\left(\frac{loss}{cost}\times 100\right)$ %

loss= $\left(\frac{1000}{5000}\times 100\right)$ %= 20 %

Incorrect

The C.P and S.P is 5000 and 4000.

loss= CP-SP

loss= $\left(\frac{loss}{cost}\times 100\right)$ %

loss= $\left(\frac{1000}{5000}\times 100\right)$ %= 20 %
Question 10 of 38

10. Question
Vikash bought a suitcase with 15% discount on the labelled price. He said the suitcase for Rs.2880 with 20% profit on the labelled price. At what price did he buy the suitcase?
- Rs.2040
- Rs.2400
- Rs. 2604
- Rs. 2640
Correct

Let the labelled price be Rs.x. Then, 120% of x = 2880

Therefore x = $2880\times \frac{100}{120}$ = 2400.

= 85% of Rs.2400 = Rs $\frac{85}{100\times 2400}$ = Rs.2040.

Incorrect

Let the labelled price be Rs.x. Then, 120% of x = 2880

Therefore x = $2880\times \frac{100}{120}$ = 2400.

= 85% of Rs.2400 = Rs $\frac{85}{100\times 2400}$ = Rs.2040.
Question 11 of 38

11. Question
A man sells two houses at the rate of Rs. 1.995 lakh each. On one he gains 5% and on the other, he loses 5%. His gain or loss percent in the whole transaction Is :
- 0.25% loss
- 2.5% loss
- 0.25% gain
- 25% loss
Correct

Incorrect

Loss%= $\left(\frac{Comman\: gain\: or\: loss}{10}\right)^{2}=\left(\frac{5}{10}\right)^{2}$ % = 0.25%.
Question 12 of 38

12. Question
A sells an article which costs him Rs. 400 to B at a profit of 20%. B then sells it to C, making a profit of 10% on the price he paid to A. How much does C pay B?
- Rs. 472
- Rs. 476
- Rs. 528
- Rs. 532
Correct

20% profit on 400 = $\frac{20}{100}\times 400$ = 80

Thus A sells the article for 480 Rs. to B.

10% profit on 480 = $\frac{20}{100}\times 480$ = 48

Thus B sells the article for 528 Rs. to C. (48 Rs profit on 480 Rs - (480 + 48)) = 528

Incorrect

20% profit on 400 = $\frac{20}{100}\times 400$ = 80

Thus A sells the article for 480 Rs. to B.

10% profit on 480 = $\frac{20}{100}\times 480$ = 48

Thus B sells the article for 528 Rs. to C. (48 Rs profit on 480 Rs - (480 + 48)) = 528
Question 13 of 38

13. Question
The list price of an article is Rs. 920. The selling price after two consecutive discounts is Rs. 742.90. If first discount is 15% then what will be the rate of second?
- 3%
- 5%
- 8%
- 12%
Correct

The C.P and S.P is 920 and 742.90

loss= CP-SP= 920-742.90= 117.1

$\left ( \frac{loss}{cost}\times 100 \right )$ %

$\left ( \frac{117.1}{920}\times 100 \right )$ % = $\approx$ 20 %

1st Discount is 15% and total discount is 20%

2nd discount = total - 1st discount= 5%

Incorrect

The C.P and S.P is 920 and 742.90

loss= CP-SP= 920-742.90= 117.1

$\left ( \frac{loss}{cost}\times 100 \right )$ %

$\left ( \frac{117.1}{920}\times 100 \right )$ % = $\approx$ 20 %

1st Discount is 15% and total discount is 20%

2nd discount = total - 1st discount= 5%
Question 14 of 38

14. Question
Jacob bought a scooter for a certain sum of money. He spent 10% of the cost on repairs and sold the scooter for a profit of Rs. 1100. How much did he spend on repairs if he made a profit of 20% ?
- Rs. 400
- Rs. 440
- Rs. 500
- Rs. 550
Correct

Let the price at which Jacobs bought the scooter (C.P) be Rs. 100. He spent Rs. 10 on repairs, so that makes the total cost to be Rs. 110.

He sold the scooter at a 20% profit, and 20% of 110 is 22, so he sold the scooter at a profit of Rs. 22.

Now, when the CP is Rs. 100, the profit is Rs. 22. When the profit is Rs. 1100, the CP is

CP = $\frac{1100\times 100}{22}$ = Rs5,000

Therefore, he spent Rs. 500 on repairs. It is assumed that the cost of the repairs is added to the original cost price of the scooter and the profit percentage is calculated on this price and not the original cost price.

Incorrect

Let the price at which Jacobs bought the scooter (C.P) be Rs. 100. He spent Rs. 10 on repairs, so that makes the total cost to be Rs. 110.

He sold the scooter at a 20% profit, and 20% of 110 is 22, so he sold the scooter at a profit of Rs. 22.

Now, when the CP is Rs. 100, the profit is Rs. 22. When the profit is Rs. 1100, the CP is

CP = $\frac{1100\times 100}{22}$ = Rs5,000

Therefore, he spent Rs. 500 on repairs. It is assumed that the cost of the repairs is added to the original cost price of the scooter and the profit percentage is calculated on this price and not the original cost price.
Question 15 of 38

15. Question
A fruit seller purchases oranges at the rate of 3 for Rs 5 and selIs them at 2 for Rs 4. His profit in the transaction is:
- 10 %
- 20 %
- 15 %
- 25 %
Correct

Let number of iranges = LCM of 2,3,4,5 = 60

cost price of 60 oranges = $\frac{5}{3}\times 60$ = 100

sell price of 60 oranges = $\frac{4}{2}\times 60$ = 120

profit % = 120 - 100 % = 20%

Incorrect

Let number of iranges = LCM of 2,3,4,5 = 60

cost price of 60 oranges = $\frac{5}{3}\times 60$ = 100

sell price of 60 oranges = $\frac{4}{2}\times 60$ = 120

profit % = 120 - 100 % = 20%
Question 16 of 38

16. Question
A book was sold for Rs 27.50 with a profit of 10%. If it were sold for Rs. 25.75, then would have been percentage of profit and loss ?
- 2% Profit
- 3% Profit
- 2% Loss
- 3% Loss
Correct

SP= 27.50 and profit is 10%

CP = $\left[\frac{100}{100+gain}\right]\times SP$

CP = $\left[\frac{100}{100+10}\right]\times27.50=25$

This is the Cost price= Rs 25

If it were sold for Rs. 25.75 then SP= 25.75 and CP= 25

Gain= 25.75- 25= 0.75

Gain = $\left(\frac{Gain}{Cost\, price}\times100\right)$

Gain = $\left(\frac{0.75}{25}\times100\right)$ = 3%

Incorrect

SP= 27.50 and profit is 10%

CP = $\left[\frac{100}{100+gain}\right]\times SP$

CP = $\left[\frac{100}{100+10}\right]\times27.50=25$

This is the Cost price= Rs 25

If it were sold for Rs. 25.75 then SP= 25.75 and CP= 25

Gain= 25.75- 25= 0.75

Gain = $\left(\frac{Gain}{Cost\, price}\times100\right)$

Gain = $\left(\frac{0.75}{25}\times100\right)$ = 3%
Question 17 of 38

17. Question
A Girl buys a Parker pen for Rs. 50 and sells it for Rs. 45. Find her loss.
- Rs 5
- Rs 1 5
- Rs 25
- Rs 10
Correct

Cost price(CP) of a parker pen = Rs. 50 and Selling Price (SP) of a parker pen = Rs. 45.

Here, SP < CP

we have loss = Rs 50 - Rs 45 = Rs5

Incorrect

Cost price(CP) of a parker pen = Rs. 50 and Selling Price (SP) of a parker pen = Rs. 45.

Here, SP < CP

we have loss = Rs 50 - Rs 45 = Rs5
Question 18 of 38

18. Question
A Woman buys a toy for Rs. 25 and sells it for Rs. 30. Find her gain percent.
- 20%
- 15%
- 25%
- 12%
Correct

% Gain = $\frac{gain}{cp}\times100=\frac{5}{25}\times100$ = 20 %

Incorrect

% Gain = $\frac{gain}{cp}\times100=\frac{5}{25}\times100$ = 20 %
Question 19 of 38

19. Question
Some articles were bought at 6 for Rs. 5 and sold at 5 for Rs. 6. Gain percent is :
- 30%
- 33 %
- 35%
- 44%
Correct

CP= 6 article in Rs 5= $\frac{6}{5}$ = 0.83

SP= 5 article in Rs 6= $\frac{5}{6}$ = 1.2

Gain= SP- CP= 1.2 - 0.83 = 0.37

$\frac{0.37}{0.83}\times 100$ = 44%

Incorrect

CP= 6 article in Rs 5= $\frac{6}{5}$ = 0.83

SP= 5 article in Rs 6= $\frac{5}{6}$ = 1.2

Gain= SP- CP= 1.2 - 0.83 = 0.37

$\frac{0.37}{0.83}\times 100$ = 44%
Question 20 of 38

20. Question
A Girl buys a notebook for Rs. 25 and sells it for Rs. 20. Find her loss per cent.
- 25%
- 15%
- 5%
- 20%
Correct

$\frac{gain}{cp}\times 100$ = $\frac{5}{25}\times 100$ =20%

Incorrect

$\frac{gain}{cp}\times 100$ = $\frac{5}{25}\times 100$ =20%
Question 21 of 38

21. Question
The Profit earned by selling a painting for Rs. 600 is equal to the loss incurred when the same painting is sold for Rs. 400. What should be the sale price of the painting for making 25 per cent profit ?
- 234 Rs
- 423 Rs
- 525 Rs
- 625 Rs
Correct

Let the cost price be Rs x.

Now, according to the question ,

600-x= x-400

or,2x = 1000

∴ x = Rs 500.

Again, selling price of the painting for making 25% profit

$\frac{500\times 125}{100}$ = Rs 625

Incorrect

Let the cost price be Rs x.

Now, according to the question ,

600-x= x-400

or,2x = 1000

∴ x = Rs 500.

Again, selling price of the painting for making 25% profit

$\frac{500\times 125}{100}$ = Rs 625
Question 22 of 38

22. Question
A reduction of 20% in the price of rice enables a person to buy 2 kg more for Rs 30. Find the reduced and the original price per kg of rice.
- 2 kg
- 5 kg
- 10 kg
- none of these
Correct

The reduced price of rice = $\frac{30\times 20}{100\times 2}$ = Rs3 per kg

The original price of rice = $\frac{15}{4}$

Incorrect

The reduced price of rice = $\frac{30\times 20}{100\times 2}$ = Rs3 per kg

The original price of rice = $\frac{15}{4}$
Question 23 of 38

23. Question
A 10% hike in the price of pulses forces a person to purchase 2kg less for Rs 110 . Find the new and the original prices of the pulses.
- Rs 2 per kg
- Rs 8 per kg
- Rs 6 per kg
- Rs 5 per kg
Correct

The new price = $\frac{100\times 110}{100\times 2}$ = $\frac{11}{2}$

The original price = $\frac{10\times 110}{110\times 2}$ = Rs5 per kg

Incorrect

The new price = $\frac{100\times 110}{100\times 2}$ = $\frac{11}{2}$

The original price = $\frac{10\times 110}{110\times 2}$ = Rs5 per kg
Question 24 of 38

24. Question
An article when sold at a gain of 5% yields Rs 15 more than when sold at a loss of 5%. What is the C.P..
- Rs 64
- Rs 150
- Rs 80
- Rs 200
Correct

Let the CP is x then

$\left [\left(\frac{105x }{100}\right)-\left (\frac{95x}{100}\right)\right]$ = 15

$\Rightarrow \frac{105x-95x}{100}=15$

$\Rightarrow \frac{10x}{100}=15$

$\Rightarrow$ x = Rs150

Incorrect

Let the CP is x then

$\left [\left(\frac{105x }{100}\right)-\left (\frac{95x}{100}\right)\right]$ = 15

$\Rightarrow \frac{105x-95x}{100}=15$

$\Rightarrow \frac{10x}{100}=15$

$\Rightarrow$ x = Rs150
Question 25 of 38

25. Question
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 ?
- 30%
- 70%
- 100%
- 250%
Correct

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.

$\therefore$ Required percentage = $\left(\frac{295}{420}\times 100\right)$ = 70%

Incorrect

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.

$\therefore$ Required percentage = $\left(\frac{295}{420}\times 100\right)$ = 70%
Question 26 of 38

26. Question
A man buys a toy for Rs. 25 and sells it for Rs. 30. Find his profit
- Rs. 2
- Rs. 20
- Rs.1 2
- Rs.5
Correct

Selling price (SP) of a toy = Rs. 30 and Cost Price (CP) of a toy = Rs. 25.

Here, SP > CP

we have profit = Rs. 30 - Rs. 25 = Rs. 5.

Incorrect

Selling price (SP) of a toy = Rs. 30 and Cost Price (CP) of a toy = Rs. 25.

Here, SP > CP

we have profit = Rs. 30 - Rs. 25 = Rs. 5.
Question 27 of 38

27. Question
If the marked price of an article is Rs. 380 and a discount of 5% is given on it, what is the selling price?
- 161
- 361
- 261
- 156
Correct

S.P = 95% of Rs.380 = Rs. $\frac{95}{100}\times380$ = Rs361

Incorrect

S.P = 95% of Rs.380 = Rs. $\frac{95}{100}\times380$ = Rs361
Question 28 of 38

28. Question
A man sells to houses for Rs. 536850 each. On one he gains 5% and on the other he loses 5%. Find his gain or loss percent on the whole transaction.
- 0.5%
- 0.6%
- 0.2%
- o.25%
Correct

in such a problem selling price is immaterial.There is always a loss given by:

Loss % = $(\frac{5}{2})^{2}$ = $\frac{1}{4}$ =0.25%

Incorrect

in such a problem selling price is immaterial.There is always a loss given by:

Loss % = $(\frac{5}{2})^{2}$ = $\frac{1}{4}$ =0.25%
Question 29 of 38

29. Question
If the same price of 10 articles is the same as the cost price of 12 articles. Find gain percent.
- 15%
- 25%
- 10%
- 20%
Correct

Let C.P of each article be Rs. 1.

C.P of 10 articles = Rs. 10

S.P of the 10 articles = Rs. 12

∴ Gain = $\frac{2}{10}\times 100$ =20%

Incorrect

Let C.P of each article be Rs. 1.

C.P of 10 articles = Rs. 10

S.P of the 10 articles = Rs. 12

∴ Gain = $\frac{2}{10}\times 100$ =20%
Question 30 of 38

30. Question
A seller buys mangoes at Rs. 2 for 3 mangoes and trade them at a rupee each. To make a profit of Rs. 10, he must sell
- 10 mangoes
- 25mangoes
- 30 mangoes
- 35mangoes
Correct

Suppose he sells x mangoes, Then

$\frac{2}{3}\times x=\frac{2x}{3}$

and S.P = Rs. x

x = 30

Incorrect

Suppose he sells x mangoes, Then

$\frac{2}{3}\times x=\frac{2x}{3}$

and S.P = Rs. x

x = 30
Question 31 of 38

31. Question
A bicycle is sold at a gain of 15%. If it had been sold for Rs. 20 more, 20% would have been gained. The cost price of the bicycle is:
- 100
- 200
- 300
- 400
Correct

120% - 115% of x = 20

$\Rightarrow$ 5% of x = 20.

$\Rightarrow$ x = $\frac{20\times 100}{5}$ = 400 Rs

Incorrect

120% - 115% of x = 20

$\Rightarrow$ 5% of x = 20.

$\Rightarrow$ x = $\frac{20\times 100}{5}$ = 400 Rs
Question 32 of 38

32. Question
A corruptible monger progresses to trade his goods at cost price but uses a weight of 960g for 1kg. obtain his gain percent.
- $\frac{25}{6}$
- $\frac{2}{6}$
- $\frac{22}{5}$
- $\frac{27}{6}$
Correct

Gain % = $\frac{40}{960}\times100=\frac{25}{6}$

Incorrect

Gain % = $\frac{40}{960}\times100=\frac{25}{6}$
Question 33 of 38

33. Question
A vendor lists his articles 20% above cost price and allows a discount of 10% on cash payment.His gain percent is
- 4%
- 8%
- 5%
- 6%
Correct

Let C.P. = Rs. 100. Then, marked price = Rs. 120.

∴ S.P. = 90% of Rs. 120 = Rs. 108

∴ Gain % = 8%

Incorrect

Let C.P. = Rs. 100. Then, marked price = Rs. 120.

∴ S.P. = 90% of Rs. 120 = Rs. 108

∴ Gain % = 8%
Question 34 of 38

34. Question
A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.
- Rs.1200
- Rs.1230
- Rs.1260
- Rs.1290
Correct

Selling price= 1140

loss=15%

$SP =\frac{100}{100-loss}\times CP$

$SP =\frac{100}{95}\times 1140=1200$

Then CP is 1200 and SP is 1140

then Loss= 5%

price should the watch be sold to earn 5% profit.

Then the SP will Rs 1260

Incorrect

Selling price= 1140

loss=15%

$SP =\frac{100}{100-loss}\times CP$

$SP =\frac{100}{95}\times 1140=1200$

Then CP is 1200 and SP is 1140

then Loss= 5%

price should the watch be sold to earn 5% profit.

Then the SP will Rs 1260
Question 35 of 38

35. Question
Syam buys 10 apples for Rs 1. At what price should he sell a dozen apples if he wishes to make a profit of 25%?
- Rs 0.125
- Rs 1.25
- Rs 0.25
- Rs 1.5
- Rs 1.8
Correct

Incorrect

He cost price of 1 apple = 1/10 th of a dollar or Rs 0.10.

As Syam wishes to make a profit of 25%, his selling price per apple will be 0.10 + 25% of 0.10 = Rs 0.125.

If the selling price of 1 apple is Rs 0.125, then the selling price of a dozen apples = 12 $\times$ 0.125

= Rs 1.5
Question 36 of 38

36. Question
A sells a bicycle to B at a profit of 20%. B Sells it to C at a profit of 25%. If C pays Rs. 225 for it, the cost price of the bicycle for A is :
- Rs. 110
- Rs. 120
- Rs. 125
- Rs. 150
Correct

Incorrect

125% of 120% of A= 225

$\Rightarrow \frac{125}{100}\times \frac{120}{100}\times A=225$

$A=\left ( 225\times \frac{2}{3} \right )=Rs\, 150$
Question 37 of 38

37. Question
An article was sold for Rs. 144. If the percentage of profit was numerically equal to the cost price, the cost of the article was :
- Rs. 72
- Rs. 80
- Rs. 90
- Rs. 100
Correct

Incorrect

Let C.P. = Rs. x, Profit% = x% and S.P. = Rs. 144.

$\therefore \left [ \frac{100}{100+x}\times 144 \right ]\Rightarrow x^{2}+100x=14400$

$\therefore x^{2}+180x-80x-14400=0$

$\Rightarrow \left ( x+180 \right )\left ( x-80 \right )=0\Rightarrow x=80$
Question 38 of 38

38. Question
A vendor loses the selling price of 4 oranges on selling 36 oranges, His loss percent is :
- 10%
- 11 1/9 %
- 12 1/2 %
- None of these
Correct

Incorrect

(C.P. of 36 mangoes) - (S.P. of 36 mangoes) - Loss =

(S.P. of 4 mangoes)

S.P. of 40 mangoes = C.P. of 36 mangoes

Let C.P. of each mango be Re. 1.

C.P. of 40 mangoes = Rs. 40; S.P. of 40 mangoes = Rs. 36

Loss% =(4/40)x 100 % = 10%.