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%
 Rs 8.81
 Rs 9.81
 Rs 10.81
 Rs 11.81
Answer And Explanation
Answer: Option D
Explanation:
85 : 9 = 105 : x
x= (9×105/85)
= Rs 11.81 
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
 Rs. 750
 Rs. 800
 Rs. 850
 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} 
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
 12%
 13%
 14%
 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% 
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
 \begin{aligned} 4\frac{1}{2} \end{aligned}
 \begin{aligned} 3\frac{1}{2} \end{aligned}
 \begin{aligned} 2\frac{1}{2} \end{aligned}
 \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} 
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
 4%
 5%
 6%
 7%
Answer And Explanation
Answer: Option D
Explanation:
Gain % = (164.36*100/2400) = 6.84 % = 7% approx

27. A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain is.
 20%
 21%
 22%
 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} 
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
 51:52
 52:53
 53:54
 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}