Exercise: Profit And Loss

Questions for: Profit And Loss

A shopkeeper sells some toys at Rs. 250 each. What percent profit does he make? To find the answer, which of the following information given in Statements I and II is/are necessary?

I. 

Number of toys sold.

 II. 

Cost price of each toy.

A:
Only I is necessary
B:
Only II is necessary
C:
Both I and II are necessary
D:
Either I or II ins necessary
Answer: B

S.P. = Rs. 250 each.

To find gain percent, we must know the C.P. of each.

Correct answer is (B).

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A shopkeeper sells some articles at the profit of 25% on the original price. What is the exact amount of profit? To find the answer, which of the following information given in Statements I and II is/are necessary?

I. 

Sale price of the article

 II. 

Number of articles sold

A:
Only I is necessary
B:
Only II is necessary
C:
Either I or II is necessary
D:
Both I and II are necessary
Answer: D

Gain = 25% of C.P.

In order to find gain, we must know the sale price of each article and the number of articles sold.

Correct answer is (D).

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A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:
A:
No profit, no loss
B:
5%
C:
8%
D:
10%
Answer: B

C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.

S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.

Gain = 80 x 100 % = 5%.
1600

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A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is:
A:
5 15 % loss
17
B:
5 15 % gain
17
C:
6 2 % gain
3
D:
None of these
Answer: B

C.P. of 1st transistor = Rs. 100 x 840 = Rs. 700.
120

C.P. of 2nd transistor = Rs. 100 x 960 = Rs. 1000
96

So, total C.P. = Rs. (700 + 1000) = Rs. 1700.

Total S.P. = Rs. (840 + 960) = Rs. 1800.

Gain % = 100 x 100 % = 5 15 %
1700 17

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100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is:
A:
14 2 % gain
7
B:
15% gain
C:
14 2 % loss
7
D:
15 % loss
Answer: A

C.P. of 1 orange = Rs. 350 = Rs. 3.50
100

S.P. of 1 orange = Rs. 48 = Rs. 4
12

Gain% = 0.50 x 100 % = 100 % = 14 2 %
3.50 7 7

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