# Practice Set For Profit and Loss

__Practice Questions for Profit and Loss :__

__Practice Questions for Profit and Loss :__

**Q.1** **Sathish bought a second-hand bike and spent Rs.3000 on its repair and spare parts. Then he sold it to Rajesh at a profit of 15 % and then Rajesh sold it to Suresh at a loss of 10 %. Suresh finally sold it for Rs.22770 at a profit of 10%. How much amount did Sathish initially pay for the bike? **

A.Rs. 21000

B.Rs. 17000

C.Rs. 23000

D.Rs. 19000

E. None of these

**Answer: B**

Let Sathish pay for the bike be Rs. x,

(x + 3000)X(115/100)X(90/100)X(110/100) =

22770

(x + 3000) = (22770X100X100X100)/(115X90X110)

(x + 3000) = 20000

x = 17000

The initial amount paid by Sathish = Rs. 17000

**Q.2 A shopkeeper marks the price of the article as is 20% above its cost price and also offers a 10% discount. Find the profit percentage?**

A.10%

B. 8%

C.12%

D.14%

E. None of these

**Answer: B**

CP = x

SP = x * 120/100 * 90/100

= 1.08x

Profit = 1.08x – x

= 0.08x

Profit percentage = 0.08x/x * 100

= 8%

**Q.3** **The shopkeeper sold article A at a 20% loss and the cost price of article A is Rs.4500. With that amount, he bought article B and sold it at a profit of 30%. What is the overall profit or loss in the whole transaction?**

A. Rs.120

B. Rs.150

C. Rs.180

D. Rs.200

E. None of these

**Answer: C**

CP of article A=Rs. 4500

SP of article A=80/100 * 4500=Rs.3600

CP of article B=Rs. 3600

SP of article B=3600 * 130/100=Rs.4680

Total CP=4500 + 3600=Rs.8100

Total SP=3600 + 4680=Rs. 8280

Profit=8280 – 8100=Rs.180

**Q.4** **A shopkeeper offers two successive discounts of 20% and 15% respectively for the laptop while he gets 20% profit. If the selling price of the laptop is Rs.34000, what is the discount amount?**

A.Rs.12000

B.Rs.14000

C.Rs.16000

D.Rs.18000

E. None of these

**Answer: C**

SP = 34000

MP X 80/100 X 85/100 = 34000

MP = 50000

Discount = 50000 – 34000 = 16000

**Q.5** **A shopkeeper bought two articles A and B such that he had a Profit of 15% and 20% on selling articles A and B respectively. The selling price of articles A and B is Rs.230 and Rs.420 respectively. At what price must that items be ****sold together in order to gain 30%?**

A. Rs.686

B. Rs.695

C. Rs.700

D. Rs.740

E. None of these

**Answer: E**

SP of A = 230

Profit% on A = 15%

CP of A = 230 X 100/115 = 200

SP of B = 420

Profit% on B = 20%

CP of B = 420 X 100/120 = 350

Total CP = 200 + 350 = 550

Now, to earn a total profit of 30% on both item

together, selling price = 130% of 550

= Rs.715

**Q.6** **What is the value of y, if an article is sold after allowing two successive discounts of y% and 5% and per cent profit earned after selling the article is y%. The cost price and Marked price of the article are Rs.2850 and Rs.5000 Respectively.**

A.15

B.20

C.25

D.30

E.35

**Answer: C**

CP = 2850 MP = 5000

Profit = y% Successive

discounts = y%, 5%

((100 – y)/100) X ((100 -5)/100) * 5000

= ((100+y)/100) X 2850 [(100 – y)/100] X 95/100 X 5000

= (100 + y)/100 X 2850

(100 – y) = (100+y) X 3/5

500 – 5y = 300 + 3y

8y = 200

y = 25

**Q.7 The shopkeeper marked 20% above the cost price of the article and also he gives 15% of the discount to his favourite customer. The customer sold that article to his friend in the amount of Rs.5896. If the cost price of the article is Rs.4800, then what is the profit gained by the customer?**

A.Rs.800

B.Rs.2000

C.Rs.1000

D.Rs.1500

E. Cannot be determine

**Answer: C**

MP of the article=4800 X 120/100=Rs.5760

SP of the article =5760 X 85/100=Rs.4896

CP of article for Customer=Rs.4896

SP of the customer=Rs.5896 Profit=5896 – 4896=1000

**Q.8 By selling a laptop for Rs.12000, a shopkeeper gains 20%. If the profit is reduced to 15%, then find the selling price of the laptop?**

A.Rs.11500

B.Rs.13480

C.Rs.14560

D.Rs.23490

E. None of these

**Answer: A**

CP = SP X 100/(100 + P%)

= 12000 X 100/(100 + 20)

= Rs.10000

SP of laptop for 15% profit = CP X (100 +

P%)/100

= 10000 X (100 + 15)/100

= Rs.11500

**Q.9** **Praveen is a computer shop owner. He purchases the components of a desktop for Rs. 6200 and then he spends a further Rs. 2400 on labour charge to assemble the desktop. If he sells 18 desktops for Rs. 175000, then what is the approximate profit percentage?**

A.13%

B.11.5%

C.12.2%

D.14.35%

E. 8.9%

**Answer: A**

Total cost of one desktop

= Rs. (6200 + 2400)

= Rs.8600

Selling price of one desktop

= Rs. (175000/18)

= Rs.9722.2

Profit% = [(9722.2-8600)/8600] X 100

= 13%

(Approx)

**Q.10** **A man sold an article for Rs.7600 and incurred a loss. Had he sold the article for Rs.8350, his gain would have been equal to half of the amount of loss that he incurred. At what price should he sell the article to have a 20% profit?**

A. Rs.8560

B. Rs.7680

C. Rs.11240

D. Rs.9720

E. None of these

**Answer: D**

Loss = C.P – 7600

Profit = 8350 – CP

Profit = (1/2) X Loss 8350 – C.P

= (1/2) [C.P – 7600] 16700 – 2C.P

= C.P – 7600 3C.P

= 16700 + 7600

3C.P = 24300

C.P = Rs.8100

Selling price = 8100*(120/100)

= Rs.9720

**Q.11** **The selling price of 8 articles is equal to the cost price of 10 articles. What is the percentage profit in selling the articles?**

A. 15%

B. 12%

C. 20%

D. 25%

E. 28%

**Answer: D**

S.P of 8 articles = C.P of 10 articles

S.P of 1 article = C.P of (5/4) article

Let C.P of 1 article be Rs.4

S.P of 1 article = (5/4)X4 = Rs.5

So, percentage profit = ((5 – 4)/4)X100% = 25%

**Q.12** **The cost price of a water bottle is Rs.50. If the marked price is 20% above its cost price and the discount is 5%, find the total discount on selling 19 bottles.**

A. Rs.3

B. Rs.60

C. Rs.57

D. Rs.51

E. Rs.253

**Answer: C**

CP = 50

MP = 50 X 120/100 = 60

Discount = 60 X 5/100 = 3

Total discount = 3 X 19 = 57

**Q.13** **Ratio of the cost price to the marked price of the article is 4: 5. A shopkeeper offers a discount of 15% and the marked price of the article is Rs.720. What is the profit percentage of the article?**

A. 6.25%

B. 4.75%

C. 5.5%

D. 3.40%

E. None of these

**Answer: A**

CP = 4/5 X 720 = Rs.576

SP = 720 X 85/100 = Rs.612

Profit percentage = (612 – 576)/576 X 100

= 6.25%

**Q.14** **A fruit seller sold fruit at a loss of 5%. Had he sold it for Rs.20 more, he would have earned a profit of 5%. Find the cost of the fruit.**

A. Rs.100

B. Rs.200

C. Rs.150

D. Rs.250

E. None of these

**Answer: B**

Let the CP = x. Then SP = 95x/100 = 19x/20

19x/20+ 20 = 105x/100

=> x = Rs.200

**Q.15 A shopkeeper bought 60kg of apple at the rate of Rs.90 per kg. He sold 45% of the total quantity at the rate of Rs.100 per kg. At what price per kg (approximate value) should he sell the remaining quantity to make a 25% overall profit?**

A. Rs.123

B. Rs.139

C. Rs.137

D. Rs.143

E. Rs.113

**Answer: A**

CP=90X60

=Rs.5400

45% of 60kg

=60X45/100

=27kg

SP of 27kg

=27X100

=Rs.2700

25% of profit

=5400X125/100

=Rs.6750

Amount=6750-2700=4050

Remaining apple=60-27=33kg

Required amount=4050/33

=Rs.122.72

**Q.16 If the selling price of the mobile is Rs.6000 and the ratio of the marked to cost price of the mobile is 5: 3. If the shopkeeper offers a discount of 20% on the marked price of the mobile, then find the profit percentage of the mobile?**

A. 28.28%

B. 44.44%

C. 33.33%

D. 48.48%

E. 52.52%

**Answer: C**

SP of mobile = Rs.6000

MP of mobile = 5x

CP of mobile = 3x

5x X 80/100 = 6000

x = 1500

CP of mobile = 3 X 1500 = Rs.4500

Profit percentage = (6000 – 4500)/4500 X 100 =

33.33%

**Q.17 Ratio of the cost price of the mobile and the selling price of the laptop is 1:1 and the shopkeeper sold the mobile at a 10% loss and the laptop at a 20% profit. If the selling price of a mobile and laptop together is Rs.19000, what is the approximate total profit or loss?**

A. No gain no loss

B. Rs.555 loss

C. Rs.667 profit

D. Rs.480 loss

E. Rs.499 profit

**Answer: C**

CP of mobile = m

CP of laptop = l

SP of mobile = x

SP of laptop = y

x+ y = 19000

m = y

x = 90/100 X m

x = 90/100 X y

90/100 X y + y = 19000

190y/100 = 19000

y = 10000

x = 9000

m = 9000 X 100/90 = 10000

y = 120/100 X l

10000 = 120/100 X l

l = 1000000 / 120 = 50000/6

Total CP = 10000 + 50000/6 = Rs.18333.33

Profit = 19000 – 18333.33 = 666.667

**Q.18 The marked price of a computer is Rs.15000. If a shopkeeper earned a profit of 16 (2/3)% after giving a phone for purchasing the computer and the cost price is 12000, find the percentage of discount which is equal to the price of the phone.**

A. 8 (2/3)%

B. 7 (2/3)%

C. 6 (2/3)%

D. 6 (1/3)%

E. 9 (2/3)%

**Answer: C**

CP = 12000

MP = 15000

Profit = 12000 X 50/300 = 2000

Price of phone = 15000 – (12000 + 2000) =

1000

Discount = 1000

% Discount = (1000/15000) X 100 = 6 (2/3)%

**Q.19 Anmol sold an article marked at 20000 after giving four successive discounts of 10%, 15%, 20% and 25%. Instead, if he sold it at a 30% discount, find his net gain or loss in the Selling price.**

A. 4820 loss

B. 2410 gain

C. 4820 gain

D. 2410 loss

E. None of these

**Answer: C**

1st case:

SP = 20000 X 90/100 X 85/100 X80/100

X 75/100 = 9180

2nd case:

= SP = 20000 X 70/100 = 14000

Therefore, he would have gained = 4820

**Q.20 Rajesh bought 23kg of rice at 30 rupees per kg and 32 kg of rice at 35 rupees per kg. Now he sold the entire rice at 42 rupees per kg. Find the amount of loss/profit made by Rajesh.**

A. Rs.320 profit

B. Rs.410 profit

C. Rs.350 profit

D. Rs.500 profit

E. None of these

**Answer: D**

Total cost price

= 23X30 + 32X35

= 690 + 1120

= 1810

Total selling price

= 55X42

= 2310

Profit = 2310 – 1810 = Rs.500

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