| 1. A book is sold at a profit of Rs. 50, which is 10% of its cost. If its CP is increased by 40% and it is still sold at a profit of 10%, the new profit will be: | Easy |
| A. Rs. 50 B. Rs. 70 C. Rs. 60 D. None of these |
View Answer
Answer: Option B
Explanation:
10% of CP = 50
Therefore, original cost of the book = 50/0.1 = 500
Now, revised cost = 1.4 * 500 = 700
Profit = 10% of CP = 0.1 * 700 = 70
| 2. By selling 300 apples, a seller gains the selling price of 50 apples. The gain of the seller is: | Easy |
| A. Rs. 50 B. 20% C. 25% D. None of these |
View Answer
Answer: Option B
Explanation:
Let SP of 1 apple = x
Total SP = 300x
Profit = 50x
CP = 300x – 50x = 250x
Percentage profit = (50x/250x) * 100 = 20%
| 3. A man buys a commodity X at 20 units for Rs. 500 and an equal number of commodity Y at 30 units for Rs. 600, and sells all of them at 50 for Rs. 1400. Find the approximate gain or loss per cent. | Medium |
| A. 24% B. 14% C. 20% D. None of these |
View Answer
Answer: Option A
Explanation:
The LCM of 20, 30 and 50 is 300.
CP of 300 units of X= Rs. (500/20) * 300 = Rs 7500
CP of 300 units of Y = Rs. (600/30) * 300 = Rs 6000
CP of all 600 units = 7500 + 6000 = Rs. 13500
SP of 600 units sold at 50 for Rs. 1400 = Rs. (1400/50) * 600 = Rs 16800
-> Profit = 16800 – 13500 = 3300
-> Profit percent = (3300/13500) * 100 = 24.4%
| 4. A man sells two items, X and Y, for Rs. 9100 each. He makes a profit of 30% on the cost price for X, but on Y, he incurs a loss of 30% of the cost price. What was his gain/loss in the transaction? | Medium |
| A. 9% loss B. 9% gain C. 7% loss D. None of these |
View Answer
Answer: Option A
Explanation:
CP of X = 9100/1.3 = Rs. 7000
CP of Y = 9100/0.7 = Rs. 13000
Total Cost = 20000
Total SP = 18200
Loss = 20000 – 18200 = Rs. 1800
Loss % = (1800/20000) * 100 = 9%
Alternatively
If two items are sold, each at Rs. x, one at a gain of P% and the other at a loss of P%, there is an overall loss of P2/100 % and the absolute value of the loss is (2P2x)/(1002-P2) Rs.
Here x = 9100, P = 30
Absolute value of loss = (2*302*9100)/(1002-302) = Rs. 1800 loss
Loss% = 302/100 = 9%
| 5. If a tradesman uses a false balance to defraud 5% when buying goods and another 5% when selling them, what profit percentage does he ultimately gain? | Difficult |
| A. 5% B. 10.52% C. 10% D. None of these |
View Answer
Answer: Option B
Explanation:
The tradesman buys 1.05 kg as 1 kg and sells 0.95 kg as 1 kg.
Therefore, he sells 1.05 kg as (1.05/0.95) kg = (21/19) kg.
Profit due to dishonesty = ((21/19) – 1) = 2/19 kg
Profit% = (2/19) *100% = 200/19% =10.52%
| 6. The cost price of 18 chairs equals the selling price of 15. Then the gain is: | Easy |
| A. 10% B. 15% C. 20% D. None of these |
View Answer
Answer: Option C
Explanation:
Let the CP of each chair be x, and the SP be y.
Given, 19x = 16y à y/x = 19/16.
Profit on 1 chair = (SP – CP) = y – x
Profit % = (Profit/CP) * 100 = ((y-x)/x) * 100 = ((y/x) – 1) * 100
Profit is ((18/15) – 1) * 100 = (3/15) * 100 = 20%
Alternatively
You are getting 3 chairs free for every 15 chairs i.e., a gain of 3 on 15 i.e., 20%
| 7. A person purchases 20 litres of milk at Rs. 4 per litre and dilutes it with water to increase the content to 22 litres. In order to earn a profit of 10%, he should sell the milk at: | Easy |
| A. Rs. 4 per litre B. Rs. 4.10 per litre C. Rs. 4.20 per litre D. Rs. 4.40 per litre |
View Answer
Answer: Option A
Explanation:
Cost of 20 litres of milk @ Rs. 4 per litre = Rs. 80
Profit wanted = 10% of 80 = Rs. 8
Total SP wanted = CP + Profit = 80+8 = Rs. 88
Quantity sold = 22 litres -> SP per kg = 88/22 = Rs. 4/litre.
Hence, option A
| 8. A person sells an item at a profit of 25%. Had he bought it at 25% less and sold it for Rs. 25 less, he would have gained 25%. The cost price of the item is: | Medium |
| A. Rs. 50 B. Rs. 75 C. Rs. 80 D. Rs. 100 |
View Answer
Answer: Option C
Explanation:
Let the CP of the item be x
He sold the item at a profit of 25%. Thus, SP = 1.25 * x = 1.25x
Had he purchased it for 0.75x (25% less) and sold it for (1.25x – 25),
then gain would be 25%
-> ((SP – CP)/CP) * 100 = 25 or -> ((SP – CP)/CP) = 25/100
-> (1.25x-25-0.75x)/0.75x = 25/100 = 1/4
-> 1.25x = 100
-> x= Rs. 80
Option C
| 9. A trader sells an article at a profit of Rs. 25. If the cost price is reduced by Rs. 25 and consequently the selling price is reduced by 25%, he still makes a profit of 25%. What is his initial cost price? | Medium |
| A. Rs. 110 B. Rs. 100 C. Rs. 90 D. None of these |
View Answer
Answer: Option A
Explanation:
Let CP = Rs. x
SP = x+25
CP is reduced by 25 New CP = CP1 = x – 25
New SP = SP1 = 0.75 (x+25)
Profit% = ((SP1 – CP1)/CP1) * 100 = 25
-> (0.75(x+25)-(x-25))/(x-25) = 25/100
-> [0.75x+18.75-x+25]100 = 25x-625
-> 75x+1875-100x+2500 = 25x-625
-> 50x = 5000
-> x = 100
| 10. If a trader initially makes a profit of 25% by selling a product at Rs. 47.5 per kg but then reduces the price to gain only Rs. 0.5 per kg, how many times must the sales increase to maintain the same profit level? | Difficult |
| A. 15 times B. 10 times C. 19 times D. None of these |
View Answer
Answer: Option C
Explanation:
Given, CP * 1.25 = Rs. 47.5
-> CP = 47.5/1.25 = Rs. 38/kg
Gain = SP – CP = 47.5 – 38 = Rs. 9.5 /kg
New gain = Rs. 0.5/ kg
Let previous sales be x kg à Profit = 9.5 x
Let new sale be y kg à Profit = 0.5 y
Therefore,
9.5x = 0.5y -> y/x = 0.5/0.5 = 19