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Which among following options are true relating to this question :

Ram sold a card and makes 20% profit out of it, how much profit he actually earned ?

1. Difference between cost price of card and selling price of card is Rs. 40.
2. Selling price of card is 120% of cost price of card.

  • Either 1 and 2 are sufficient to answer
  • Either 1 and 2 are not sufficient to answer
  • 1 is sufficient to answer alone, 2 is not sufficient to answer
  • 2 is sufficient to answer alone, 1 is not sufficient to answer

Answer: Option C

Explanation:

From the question it is clear that, Gain is 20%
From 1, it is clear that S.P. - C.P. = 40, so it is sufficient to get answer.
While 2 is not sufficient to get answer.

Similar Questions :

1. 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}

2. 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: 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}

3. 100 oranges are bought at the rate of Rs. 350 and sold at the rate of 48 per dozen. The percentage of profit is

  • \begin{aligned} 12\frac{2}{7} \% \end{aligned}
  • \begin{aligned} 13\frac{2}{7} \% \end{aligned}
  • \begin{aligned} 14\frac{2}{7} \%\end{aligned}
  • \begin{aligned} 15\frac{2}{7} \% \end{aligned}

Answer: Option C

Explanation:

So before solving this question we will get the C.P. and S.P. of 1 article to get the gain percent.

C.P. of 1 orange = 350/100 = Rs 3.50
S.P. of one orange = 48/12 = Rs 4 [note: divided by 12 as 1 dozen contains 12 items]
Gain = 4 - 3.50 = Rs 0.50
\begin{aligned}
Gain\% = \frac{0.50}{3.50}*100 \\
= \frac{100}{7}\%
= 14\frac{2}{7}\%
\end{aligned}

4. A man buys an article for Rs. 27.50 and sells it for Rs 28.60. Find his gain percent

  • 1%
  • 2%
  • 3%
  • 4%

Answer: Option D

Explanation:

So we have C.P. = 27.50
S.P. = 28.60

Gain = 28.60 - 27.50 = Rs. 1.10

\begin{aligned}
Gain\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\
= \left( \frac{1.10}{27.50} * 100 \right)\% = 4\%
\end{aligned}

5. 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}

Read more from - Profit and Loss Questions Answers