# Profit and Loss

Profit and Loss - Important Points

1. | If selling price is doubled, the profit triples. Find the initial profit percent ? |
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A. 100%

B. 200%

C. 300%

D. 400%

View Answer Discuss Work SpaceAnswer: option a

Explanation:

** CP SP Profit**

100 x x - 100

100 2x 2x - 100

Given, 2x - 100 = 3(x - 100)

= 3x - 300

x = 200

Initial Profit % = (200 - 100)/100*100 = 100%

2. | If the cost price of 12 articles is equal to the selling price of 8 articles, the gain percent is ? |
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A. 12%

B. 30%

C. 50%

D. 60%

View Answer Discuss Work SpaceAnswer: option c

Explanation:

CP*12 = SP*8

SP/CP = 12/8 = 3/2

Profit % = (SP - CP)/CP*100

= (SP/CP)-1 * 100

= (3/2 - 1) *100 = 50%

3. | The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is: |
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A. 15

B. 16

C. 18

D. 25

View Answer Discuss Work SpaceAnswer: option b

Explanation:

CP*20 = SP*x

Profit % = (SP - CP)/CP*100

= [(SP/CP) - 1] * 100

= (20/x - 1) *100 = 25%

20/x - 1 = 1/4

20/x = 5/4

x = 16

4. | A Shopkeeper sells two articles at Rs. 2000 each, making a profit of 20% on the first article and a loss of 20% on the other. Find the net Profit or loss that he makes? |
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A. 4% Profit

B. 4% Loss

C. No Profit no Loss

D. 2% Loss

View Answer Discuss Work SpaceAnswer: option b

Explanation:

SP of first article = Rs.2000

Profit = 20%

CP * 120% = SP

CP = SP/120% = 2000/(120/100)

= 5000/3

SP of Second Article = Rs. 2000

Loss = 20%

CP*80% = SP

CP = SP/80% = 2000/(80/100)

= 2500

CP of both article = 5000/3 + 2500

= 2500*(5/3)

Loss = 2500*(5/3) - 4000 = 500/3

% Loss = [(500/3)/2500*(5/3)]*100

= 4%

Alternatively, There will always be a loss if two articles are sold at the same price, one with x% profit and other with x% loss-

Loss% = (x / 10)^2 = (20/2)^2 = 4%

5. | What profit percent is made by selling an article at a certain price, if by selling at 2/3rd of that price, there would be a loss of 20% ? |
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A. 30%

B. 25%

C. 15%

D. 20%

View Answer Discuss Work SpaceAnswer: option d

Explanation:

Assuming CP2 = 100 and SP2 = 80, there is a loss of 20%.

SP2 = 2/3 of SP1

=> SP1 = 120

**CP SP Profit%**

100 120 +20

100 80 -20

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