Question Detail

Akhil purchased 70kg vegetable at Rs. 420, then sold them at the rate of Rs. 6.50 per kg, find the profit percent.

\begin{aligned} 8\frac{1}{3}\% \end{aligned}
\begin{aligned} 7\frac{1}{3}\% \end{aligned}
\begin{aligned} 6\frac{1}{3}\% \end{aligned}
\begin{aligned} 5\frac{1}{3}\% \end{aligned}

Answer: Option A

Explanation:

Please note in this type of questions, get the value of 1 kg to solve this question, lets solve it.

C.P. of 1 Kg = 420/70 = Rs. 6
Selling Price = 6.50
Gain = Rs. 0.50

\begin{aligned}
Gain\% = \frac{.50}{6}*100 \\
= 8\frac{1}{3}\%
\end{aligned}

1. A shopkeeper sold an article for Rs 2564.36. Approximately what was his profit percent if the cost price of the article was Rs 2400

Answer: Option D

Explanation:

Gain % = (164.36*100/2400) = 6.84 % = 7% approx

2. 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

\begin{aligned} \frac{6}{19}\% \end{aligned}
\begin{aligned} \frac{6}{17}\% \end{aligned}
\begin{aligned} 5\frac{5}{11}\% \end{aligned}
\begin{aligned} 3\frac{5}{11}\% \end{aligned}

Answer: Option C

Explanation:

Whenever we get this type of question, we should have formula in mind that,
Gain% = (gain/cost)*100

Cost = 4700 + 800 = Rs. 5500
S.P. = Rs. 5800

Profit = 5800 - 5500 = 300
\begin{aligned}
Gain\% = \frac{300}{5500}*100 \\
= 5\frac{5}{11}\%
\end{aligned}

3. 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.

130%
140%
150%
160%

Answer: Option B

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 %

4. A man buys an item at Rs. 1200 and sells it at the loss of 20 percent. Then what is the selling price of that item

Rs. 660
Rs. 760
Rs. 860
Rs. 960

Answer: Option D

Explanation:

Here always remember, when ever x% loss,
it means S.P. = (100 - x)% of C.P
when ever x% profit,
it means S.P. = (100 + x)% of C.P

So here will be (100 - x)% of C.P.
= 80% of 1200
= 80/100 * 1200
= 960

5. A shopkeeper expects a gain of 45/2 % on his C.P. If his sale was Rs. 392, then find his profit.

Rs. 70
Rs. 72
Rs. 74
Rs. 76

Answer: Option B

Explanation:

We Know,

\begin{aligned}
S.P. = \left( \frac{100+gain\%}{100} * C.P \right)\\
=> C.P. = \frac{100}{122.50}* 392 \\
= 320 \\

Profit = 392 -320 = Rs 72
\end{aligned}