Profit and loss | Set-2

Question 1: The cost price of 12 books is equal to the selling price of 10 books. The gain percent is :
Solution : Given 12 CP = 10 SP
CP/SP = 10/12 = 5/6
Profit = SP – CP
=> 6 – 5 = 1
Profit (%) = profit/CP x 100
=> 1/5 x 100
=> 20 %

Question 2: If the loss% on article is 15%. Then the ratio of cost price and selling price will be
Solution : Loss % = 15 %
= 15/100
= 3/20
Loss= 3 and CP = 20
SP = CP – L
= 20 – 3 = 17
CP : SP = 20 : 17

Question 3: Ram goes from place P to Q to buy an article costing 20% less at Q. Although he spends Rs 200 on travelling, still he gains Rs 200 compared to buying at P. His profit percent is:
Solution : Let the price at P = 100a
then price at Q = 80a (20% less)
Acc. to question
100a – (80a + 200) = 200
20a = 400
a = 20
Price at P = 100×20 = 2000
Price at Q including travelling = 80×20 + 200 = 1800
Profit (%) = [(2000 – 1800) / 2000]x100
=200/20 = 10%
Hence, his profit is 10%.

Question 4: The price of a TV and a refrigerator set are in ratio 3:5. If the refrigerator cost Rs 4400 more than the TV set, then the price of the TV is
Solution : Acc. to question
TV/Ref. = 3/5
Difference in ratio = 2
2 -> 4400
1 -> 2200
The price of the TV = 3×2200 = Rs 6600

Question 5: A house and a shop were sold for Rs. 1 lakh each. In this transaction, the house sale resulted into 20% loss whereas the shop sale into 20% profit. The entire transaction resulted in:
Solution : Acc. to question

         House           Shop
CP        10             10       
          |-20%            |+20%
SP        8              12

Make SP equal

CP        10x12              10x8        -> 200
          |-20%              |+20%           |-8  
SP        8x12               12x8        -> 192

Given that
192 -> 2 lakh
1 -> 1/96
8 unit -> 8/96 -> 1/12 lakh
Hence, in entire transaction loss is 1/12 lakh.

Question 6: A shopkeeper sells a chair at a profit of 20%. If he had bought the table at 10% less cost and sold for Rs 60 more, he would have gained 40%. The cost price of the chair is:
Solution : Let 100 units is the CP of chair.
Sells at profit 20% than SP = 120
If buys 10% less and sells at 40% profit than SP = 126

           
                  -10%
   (CP)100 ______________(New CP)90                     
        |+20%                      |+40%
   (SP)120               (New SP)126

So, difference in SP and New SP is given 60
126 – 120 = 6
6 -> 60
1 -> 10
100 -> 1000
Hence, the cost price of chair is Rs 1000.

Question 7: By selling a bicycle of Rs 3360 a shopkeeper gain 12%. If the profit is reduced to 8%, then the selling price will be
Solution :SP of bicycle = Rs 3360
Profit % = 12 %
CP = (SP/100+P)x100
CP = (3360/112) x 100
New profit% = 8%
New SP = CPx(100+P%)/100
= (3360/112)x100x(108/100)
= 3240
Hence, the selling price of bicycle is Rs 3240.

Question 8: A man purchased an article of Rs 2500 and sold it at 40% above the cost price. If he has to pay Rs 250 as tax on it his net profit percentage will be:
Solution : CP = 2500
P =40%
Profit = CPx25/100
= 2500×40/100
= 1000
Net profit = profit – tax
= 1000 – 250 = 750
Net profit % = 750/2500 x 100
=30%
Hence, net profit percent is 30%.

Question 9: A sells an item to B at a profit of 25%. B sells it to C at a profit of 20%. If C pays Rs 900 for it, the cost price of the bicycle for A is :
Solution : Acc. to question

     A                 B                 C
    100___25% profit____ 125____20% profit___150

Now, 150 unit -> 900
1 unit -> 6
100 unit -> 600
Hence, the cost price of the bicycle is 600.

Question 10: A increase of 20% in the price of apple enabled a purchaser to obtain 4 apple less of Rs 72. The price of 16 apple before increase was
Solution :
Acc. to question

Price         5         20% increase        6
Commodity     6         1 unit less         5 
              |x4          |              |x4
         24 apples       4 apples    20 apples

He purchased 24 apples of Rs 72 before increase of price and 4 less apples after increase.
24 apples = Rs 72
1 apple = Rs 3
16 apples = Rs 48

Question 11: Shyam buys some chocolates at 2 for a rupee and sells them at 5 for a rupee. His loss percent is:
Solution : Acc. to question

          Chocolates          Price
CP           2x5=10            1x5=5
                                  loss 3
SP           5x2=10            1x2=2

make chocolates same and we loss Rs 3 here.
So, Loss% = 3/5 x 100
= 60%

Question 12: By selling 100 oranges, a shopkeeper gains the selling price of 20 oranges. His gain percent is:
Solution : Let SP of 1 orange is Rs 1.
SP of 100 orange is Rs 100.
CP of 1 orange is Rs a.
CP of 100 orange is Rs 100a.
Acc . to question
Gain=SP -CP
20 = 100 – 100a
a = 80/100 = 4/5
CP of 1 orange = 4/5
CP of 100 orange = 100×4/5= 80
SP of 100 orange = Rs 100
gain% = 20/80 x 100 = 25%
Hence, his gain percent is 25%.

Question 13: A dealer makes a profit of 20% even after giving a 10% discount on the advertised price of a scooter.If he makes a profit of Rs 7200 on the sale of the scooter, the advertise price was
Solution : Let cost price and Marked price of scooter is 10 units.
10_{profit 20%} —> 12
10_{discount 10%} —> 9
Acc. to question

         CP        SP        MP
         10x9      12x9        
                   9x12         10x12
Total    90        108       120

Make SP equal
Now, profit = SP – CP
= 108 – 90 = 18
18 unit -> 7200
1 unit -> 400
120 -> 48000
Hence, the marked price of scooter was Rs 48000.

Question 14: A shopkeeper allows a discount of 22% on the marked price. How much above the cost price must he mark his goods as to gain 17%?
Solution : Acc. to question

     CP                MP
100 - discount  :  100 + profit
  100 - 22      :   100 + 17
    78          :     117
    2           :      3

3-2 = 1
Raised% = 1/2 x 100
= 50%
Hence, he has to mark his goods 50% above of CP.