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Profit and Loss Questions Answers

Q1 :

Ram buys 4 horses and 9 cows for Rs. 13400, If he sells the horses at 10% profit and the cows at 20% profit, then he earns a total profit of Rs. 1,880. The cost of a horse is

A
  

Rs. 2500

B
  

Rs. 3000

C
  

Rs. 2000

D
  

Rs. 1000

View Answer
Correct Answer: C

Rs. 2000

Description:

Let xx be the cost of a horse and y be the cost of a cow. Then 4x+9y=134004x + 9y = 13400

Also, 10100×4x+20100×9y=1880text{Also, } frac{10}{100} times 4x + frac{20}{100} times 9y = 1880

Solving, we get
x=2000 and y=600x = 2000 text{ and } y =600
Q2 :

A shopkeeper bought oranges at the rate of 7 for 10 rupees and sold them at a profit of 40 percent. How many oranges would he sell for 10 rupees?

A
  

8

B
  

7

C
  

6

D
  

5

View Answer
Correct Answer: D

5

Description:

C.P. of one orange Rs. 17frac{1}{7}

S.P. of one orange =14% of Rs. 17= Rs. 15= 14% text{ of Rs. } frac{1}{7} = text{ Rs. } frac{1}{5}

therefore He must sell 5 oranges for a rupee.
 

Q3 :

How many kg. of salt at 42 P per kg must a man mix with 25 kg of salt at 24 P per kg so that he may, on selling the mixture at 40 P per kg, gain 25% on the outlay?

A
  

45

B
  

16

C
  

20

D
  

35

View Answer
Correct Answer: C

20

Description:

125%  C.P. = 40 P

or C.P.  = 40 ×100125=32Ptimes frac{100}{125} = 32 text{P}

=45×25kg=20 kg=frac{4}{5} times 25 text{kg} = 20 text{ kg}

Q4 :

A man bought a cycle for Rs. 200. For how much should he sell it so as to gain 10%.

A
  

Rs. 210

B
  

Rs. 220

C
  

Rs. 230

D
  

Rs. 240

View Answer
Correct Answer: B

Rs. 220

Description:

Cost Price = Rs. 200
10% profit of Cost price = Rs. 20
Finally, sell price is Rs. 200 + Rs. 20 = Rs. 220

Q5 :

A shopkeeper buys a tin for Rs. 50 and sells it for Rs. 46. Find his loss or gain percent.

A
  

4% gain

B
  

4% loss

C
  

8% gain

D
  

8% loss

View Answer
Correct Answer: D

8% loss

Description:

=4×10050=8%= frac{4 times 100}{50} = 8%

Q6 :

A dishonest dealer professes to sell his goods at C.P. but he uses a weight of 900 grams for the Kg weight. Find his gain percent.

A
  

40%40%

B
  

10%10%

C
  

9111%9frac{1}{11}%

D
  

1119%11frac{1}{9}%

View Answer
Correct Answer: D

1119%11frac{1}{9}%

Description:

On every 900 grams, his gain is 100 grams

Gain%=100900×100=1119%therefore text{Gain}% = frac{100}{900} times 100 = 11frac{1}{9}%

Q7 :

What is the cost of coco when an additional profit of 212%2frac{1}{2}% raises the prices by 9 p. per kg?

A
  

Rs. 3.20

B
  

Rs. 3.60

C
  

Rs. 3.45

D
  

Rs. 3.65

View Answer
Correct Answer: B

Rs. 3.60

Description:

212%2frac{1}{2}% of C.P. = 9 P

C.P. = Rs. 3.60

Q8 :

A man buys two goats at Rs. 120. He sells one at 25% gain and the other at 25% loss. Does he gain or loss?

A
  

no loss, no gain

B
  

gain 6.29%

C
  

loss 6.25%

D
  

1% loss

View Answer
Correct Answer: A

no loss, no gain

Description:

In such cases there is no loss no gain

Q9 :

I sold a book at a profit of 12%. Had I sold it for 18 P more, 18% would have been gained. Find the cost price.

A
  

Rs. 12

B
  

Rs. 9

C
  

Rs. 6

D
  

Rs. 3

View Answer
Correct Answer: D

Rs. 3

Description:

6% of C.P.=18 P6% text{ of C.P.} = 18 text{ P}

 C.P. =18×1006 P = Rs.=3therefore text{ C.P. } = frac{18 times 100}{6} text{ P } = text{ Rs.} = 3

Q10 :

By selling potatoes at Rs. 5.08 per kg a man lost 7%. At what price should he have sold it to gain 7%?

A
  

Rs. 6.42

B
  

Rs. 6.32

C
  

Rs. 6.22

D
  

Rs. 6.12

View Answer
Correct Answer: A

Rs. 6.42

Description:

93% of C.I. = Rs. 5.0893% text{ of C.I. } = text{ Rs. } 5.08

107% of C.P.=5.5893×107= Rs. 6.42107% text{ of C.P.} = frac{5.58}{93} times 107 = text{ Rs. } 6.42

 

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