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Exercise : Profit and Loss - General Questions
- Profit and Loss - Formulas
- Profit and Loss - General Questions
- Profit and Loss - Data Sufficiency 1
- Profit and Loss - Data Sufficiency 2
- Profit and Loss - Data Sufficiency 3
- Profit and Loss - Data Sufficiency 4
1.
Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:
| 4 | 4 | % |
| 7 |
| 5 | 5 | % |
| 11 |
10%
12%
Answer: Option
Explanation:
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.
Selling Price (S.P.) = Rs. 5800.
Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.
| Gain % = |  | 300 | x 100 |  % | = 5 | 5 | % |
| 5500 | 11 |
2.
The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:
15
16
18
25
Answer: Option
Explanation:
Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.
S.P. of x articles = Rs. 20.
Profit = Rs. (20 - x).
 | | 20 - x | x 100 = 25 | |
| x |
2000 - 100x = 25x
125x = 2000
x = 16.
Video Explanation: https://youtu.be/sidqvjUoZxY
3.
If selling price is doubled, the profit triples. Find the profit percent.
Answer: Option
Explanation:
Let C.P. be Rs. x and S.P. be Rs. y.
Then, 3(y - x) = (2y - x) y = 2x.
Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.
| Profit % = | | x | x 100 | % = 100% |
| x |
Video Explanation: https://youtu.be/dPzF10mGsWE
4.
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%
Answer: Option
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 | x 100 | % | = | 1475 | % = 70% (approximately). |
| 420 | 21 |
Video Explanation: https://youtu.be/bQA8SB8ycbw
5.
A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
3
4
5
6
Answer: Option
Explanation:
C.P. of 6 toffees = Re. 1
| S.P. of 6 toffees = 120% of Re. 1 = Rs. | 6 |
| 5 |
| For Rs. | 6 | , toffees sold = 6. |
| 5 |
| For Re. 1, toffees sold = | | 6 x | 5 | | = 5. |
| 6 |
Video Explanation: https://youtu.be/7wKrnZ0LKA8
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