Profit and Loss Questions Answers

15. A shopkeeper sells a transistor at Rs. 840 at a gain of 20% and another for Rs. 960 at the loss of 4%. Find his total gain percent.
 \begin{aligned} 5\frac{12}{17}\% \end{aligned}
 \begin{aligned} 5\frac{13}{17}\% \end{aligned}
 \begin{aligned} 5\frac{14}{17}\% \end{aligned}
 \begin{aligned} 5\frac{15}{17}\% \end{aligned}
Answer And Explanation
Answer: Option D
Explanation:
In this type of question, we will first find total C.P. of items, then total S.P. of items, then we will get gain or loss. From which we can easily calculate its percentage.
So lets solve it now.
\begin{aligned}
\text{So, C.P. of 1st transistor = }\\
\left( \frac{100}{120} * 840 \right) = 700 \\
\text{C.P. of 2nd transistor = }\\
\left( \frac{100}{96} * 960 \right) = 1000 \\
\text{Total C.P. = 1700 }\\
\text{Total S.P. = 1800 }\\
\text{Gain = 1800  1700 = 100}\\
\text{Gain% = } \left( \frac{100}{1700} * 100 \right) \\
= 5\frac{15}{17}\%
\end{aligned} 
16. 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 And Explanation
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 %

17. If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is ?
 12%
 30%
 50%
 60%
Answer And Explanation
Answer: Option C
Explanation:
Friends, we know we will need gain amount to get gain percent, right. So lets get gain first.
Let the cost price of 1 pen is Re 1
Cost of 8 pens = Rs 8
Selling price of 8 pens = 12
Gain = 12  8 = 4
\begin{aligned}
Gain\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\
= \left( \frac{4}{8} * 100 \right)\% = 50\%
\end{aligned}

18. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25% then determine the value of x.
 14
 15
 16
 17
Answer And Explanation
Answer: Option C
Explanation:
Let the cost price 1 article = Re 1
Cost price of x articles = x
S.P of x articles = 20
Gain = 20 x
\begin{aligned}
=> 25 = \left( \frac{20x}{x} * 100 \right) \\
=> 2000  100x = 25 x \\
=> x = 16
\end{aligned}

19. 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
 70%
 80%
 90%
 None of above
Answer And Explanation
Answer: Option A
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 = (295/420) * 100
= 70%(approx) 
20. If the cost price of 12 items is equal to the selling price of 16 items, the loss percent is
 20%
 25%
 30%
 35%
Answer And Explanation
Answer: Option B
Explanation:
Let the Cost Price of 1 item = Re. 1
Cost Price of 16 items = 16
Selling Price of 16 items = 12
Loss = 16  12 = Rs 4
Loss % = (4/16)* 100 = 25% 
21. A man bought an article and sold it at a gain of 5 %. If he had bought it at 5% less and sold it for Re 1 less, he would have made a profit of 10%. The C.P. of the article was
 Rs 100
 Rs 150
 Rs 200
 Rs 250
Answer And Explanation
Answer: Option C
Explanation:
Let original Cost price is x
Its Selling price = 105/100 * x = 21x/20
New Cost price = 95/100 * x = 19x/20
New Selling price = 110/100 * 19x/20 = 209x/200
[(21x/20)  (209x/200)] = 1
=> x = 200