Profit and Loss Questions Answers

• 22. A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%

  1. Rs 8.81
  2. Rs 9.81
  3. Rs 10.81
  4. Rs 11.81

  Answer And Explanation

  Answer: Option D

  Explanation:

  85 : 9 = 105 : x
  x= (9×105/85)
  = Rs 11.81

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• 23. If the manufacturer gains 10 %, the wholesale dealer 15 % and the retailer 25 %, then find the cost of production of a table if the retail price was Rs 1265

  1. Rs. 750
  2. Rs. 800
  3. Rs. 850
  4. Rs. 900

  Answer And Explanation

  Answer: Option B

  Explanation:

  Let the cost of Production = Rs. P
  Then, as per question,
  
  \begin{aligned}
  => \left( \frac{125}{100} *\frac{115}{100}*\frac{110}{100} * P \right) = 1265\\
  => \frac{253}{160}P = 1265 \\
  => P = 800
  \end{aligned}

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• 24. A producer of tea blends two varieties of tea from two tea gardens one costing Rs 18 per kg and another Rs 20 per kg in the ratio 5 : 3. If he sells the blended variety at Rs 21 per kg, then his gain percent is

  1. 12%
  2. 13%
  3. 14%
  4. 15%

  Answer And Explanation

  Answer: Option A

  Explanation:

  Suppose he bought 5 kg and 3 kg of tea.
  Cost Price = Rs. (5 x 18 + 3 x 20) = Rs. 150.
  Selling price = Rs. (8 x 21) = Rs. 168.
  Profit = 168 - 150 = 18
  
  So, Profit % = (18/150) * 100 = 12%

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• 25. A material is purchased for Rs. 600. If one fourth of the material is sold at a loss of 20% and the remaining at a gain of 10%, Find out the overall gain or loss percentage

  1. \begin{aligned} 4\frac{1}{2} \end{aligned}
  2. \begin{aligned} 3\frac{1}{2} \end{aligned}
  3. \begin{aligned} 2\frac{1}{2} \end{aligned}
  4. \begin{aligned} 1\frac{1}{2} \end{aligned}

  Answer And Explanation

  Answer: Option C

  Explanation:

  We need to get the Total selling price to solve this question. Because after getting selling price we can get profit or loss, then we can calculate profit% or loss%
  
  So lets solve this:
  
  Price Received by selling one fourth of the material at a loss of 20% =
  (1/4) * 600 * (80/100) = Rs. 120
  
  Price Received by remaining material at a gain of 10% =
  (3/4) * 600 * (110/100) = Rs. 495 [Note: 1-(1/4) = 3/4]
  
  Total Selling Price = 120 + 465 = Rs. 615
  
  Profit = 615 - 600 = 15
  
  \begin{aligned}
  Profit\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\
  = \left( \frac{15}{600} * 100 \right)\% \\
  = \frac{5}{2}\% = 2\frac{1}{2}\%
  \end{aligned}

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• 26. 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

  1. 4%
  2. 5%
  3. 6%
  4. 7%

  Answer And Explanation

  Answer: Option D

  Explanation:

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

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• 27. A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain is.

  1. 20%
  2. 21%
  3. 22%
  4. 23%

  Answer And Explanation

  Answer: Option B

  Explanation:

  \begin{aligned}
  Gain\% = \\ \left( \frac{(100 + \text{common gain}\%)^2}{100} - 100 \right)\% \\
  = \left( \frac{(100 + 10)^2}{100} - 100 \right)\% \\
  = \left( \frac{12100 - 10000}{100}\right)\% \\
  = 21\%
  
  \end{aligned}

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• 28. The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs 3. The ratio of two selling prices is

  1. 51:52
  2. 52:53
  3. 53:54
  4. 54:55

  Answer And Explanation

  Answer: Option B

  Explanation:

  Let the Cost price of article is Rs. x
  
  Required ratio =
  \begin{aligned}
  \frac{104\% \text{ of } x}{106\% \text{ of } x} \\
  = \frac{104}{106} = \frac{52}{53} = 52:53
  \end{aligned}

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