### PROFIT AND LOSS QUIZ 001

- A shopkeeper allows 10% discount on goods when he sells without credit. Cost price of his goods is 80% of his selling price. If he sells his goods by cash then his profit percent is

**(a) 25**

(b) 35

(c) 68

(d) 85

(e) 15

Explanation:

S.p = 100 C.P = 80 Profit = 100-80 = 20 profit percent =20/80×100=25%

- ’Aman’ sold an article to ’Bijoy’ at a profit of 20%. ’Bijoy’ sold the same article to ’Chitra’ at a loss of 25% and ’Chitra’ sold the same article to ’Dev’ at a profit of 40%. If ’Dev’ paid Rs 252 for the article, then find how much did ’Aman’ pay for it?

(a) Rs 175

**(b) Rs 200 **

(c) Rs 180

(d) Rs 210

(e) None of these

Explanation:

Let the article costs ‘X’ to Aman

Cost price of Bijoy = 1.2X

Cost price of Chitra = 0.75(1.2X) = 0.9X

Cost price of Dev = 1.4(0.9X) = 1.26X = 252

Amount paid by Aman for the article = Rs 200

- Cost price of 12 apples is equal to the selling price of 9 apples and the discount on 10 apples is equal to the profit on 5 apples. What is the percentage point difference between the profit percentage and discount percentage?

(a) 1.5 %

(b) 1.75 %

**(c) 1.85 % **

(d) 2 %

(e) None of these

Explanation:

Cost price of 12 apples is equal to the selling price of 9 apples,

Let the C.P. of one apple = Re. 1

C.P. of 9 apples = Rs. 9

S.P. of 9 apples = Rs. 12

Profit % of 9 apples = 3/9 x 100 = 33.33 %

Profit % of 1apple = 33.33/9 = 3.703 %

Profit % of 5 apples = 3.703 x 5 = 18.51 %

Given, the discount on 10 apples is equal to the profit on 5 apples,

Discount on 10 apples = 18.51 %

Discount on 1 apple = 1.851 %

Therefore, Profit % of 1 apple – Discount on 1 apple = 3.703 – 1.851 = 1.85 %

- A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be.

(a) 1.3

(b) 1.4

(c) 1.5

(d) 1.6

(e) None of these

Explanation:

Let the C.P. = x,

Then S.P. = (120/100)x = 6x/5

New S.P. = 2(6x/5) = 12x/5

Profit = 12x/5 – x = 7x/5

Profit% = (Profit/C.P.) * 100

=> (7x/5) * (1/x) * 100 = 140 %

- A sells a set of books to B for Rs. 300 at a profit of 25%. B sells it to C at a loss of 10%.

price paid by A?

- ii) What was the price paid by C to B?

(a) 240, 260

(b) 250, 270

(c) 250, 260

**(d) 240, 270**

(e) None of these

Explanation:

i. Price paid by A (cost price paid by A) = [100/(100+25)]*300 = Rs. 240.

ii. Price paid by C (Selling price by B to C) = [(100-10)/100]*300 = Rs. 270.

- The sale price of an article including the sales tax is Rs. 616. The rate of sales tax is 10%. If the shopkeeper has made a profit of 12%, then the cost price of the article is:

**(a) 500**

(b) 560

(c) 340

(d) 780

(e) 800

Explanation:

110% of S.P. = 616

S.P. = (616 * 100)/110 = Rs. 560

C.P = (110 * 560)/112 = Rs. 500

- The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

**(a) Rs 2000**

(b) RS 5000

(c) Rs 5400

(d) Rs 6000

(e) Rs 7000

Explanation:

Let C.P. be Rs. x.

Then, (1920 – x)/x * 100 = (x – 1280)/x * 100

1920 – x = x – 1280

2x = 3200 => x = 1600

Required S.P. = 125 % of Rs. 1600 = 125/100 * 1600 = Rs. 2000.

- Virat and Dhoni wants to make 25% profit on selling good. Virat calculating it on cost price while Dhoni on the selling price, the difference in the profits earned by both being Rs. 100 and selling price being the same in both the cases. Find out the selling price of both goods?

(a) Rs.1500

(b) Rs.1600

(c) Rs.1200

**(d) Rs.2000**

(e) None of these

Explanation:

Profit = 25% = 1/4

Let CP of Virat’s article = 4x & Profit = x; SP = 4x + x = 5x

Let CP of Dhoni’s article = 4y = 5x —(1)[Selling price of Virat’s article = Cost Price of Dhoni’s article] x – y = 100—-(2)

y = 500

Selling price = 5x = 4y = 2000

- The price of the book is marked 20% above the C.P. If the marked price of the book is Rs. 180, then what is the cost of the paper used in a single copy of the book?

(a) Rs. 36

**(b) Rs. 37.50**

(c) Rs. 42

(d) Rs. 44.25

(e) None of the above

Explanation:

- A trader sells two bullocks for Rs. 8,400 each, neither losing nor gaining in total. If he sold one of the bullocks at a gain of 20%, the other is sold at a loss of

(a) 20%

(b) 18(2/9)%

**(c) 14(2/7)%**

(d) 21%

(e) None of these

Explanation:

S.P. of two bullock = 8400 + 8400 = 16800 Rs.

- Gopal goes from place A to B to buy an article costing 15% less at B. although he spends Rs. 150 on travelling, still he gains Rs. 150 compared to buying it at A. His profit percent is:

(a) 4.5

(b) 6

**(c) 7.5**

(d) 8

(e) None of these

Explanation:

Let CP = 2000

SP = 1700

so, after spend price = 1850

- A man bought a mobile and a laptop for Rs. 78000. He sold the mobile at a gain of 25% and the laptop at a loss of 15%, thereby gaining 5% on the whole. Find the cost price of mobile.

**(a) Rs. 39000**

(b) Rs. 34000

(c) Rs. 30000

(d) Rs. 38000

(e) Rs. 32000

Explanation:

- The percentage profit earned when a watch is sold for Rs. 546 is double the percentage profit earned when the same watch is sold for Rs. 483. If the marked price of the watch is 40% above the cost price, then what is the marked price of the watch?

**(a) Rs. 588**

(b) Rs 608

(c) Rs. 616

(d) Rs. 596

(e) Rs. 586

Explanation:

- 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

(a) 25

(b) 18

**(c) 16**

(d) 15

(e) None of these

Explanation:

- A watch dealer incurs an expense of Rs.150 for producing every watch. He also incurs an additional expenditure of Rs. 30,000, which is independent of the number of watches produced. If he is able to sell a watch during the season, he sells it for Rs. 250. If he fails to do so, he has to sell each watch for Rs. 100.If he produces 1500 watches, what is the number of watches that he must sell during the season in order to breakeven, given that he is able to sell all the watches produced?

(a) 580

(b) 620

(c) 650

**(d) 700**

(e) None of these

Explanation:

Total cost to produced 1500 watches = (1500 × 150 + 30000) = Rs. 2,55,000

Let he sells x watches during the season, therefore number of watches sold after the season =

(1500 – x)250 × x + (1500 – x) × 100 = 150x + 150000

Now, break-even is achieved if production cost is equal to the selling price.

150x + 150000 = 2,55,000

x = 700

- Published in PROFIT AND LOSS