Profit and Loss
Profit and Loss - Important Points
| 1. | If selling price is doubled, the profit triples. Find the initial profit percent ? |
|---|
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 ? |
|---|
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: |
|---|
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? |
|---|
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% ? |
|---|
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
Profit and Loss Questions and Answers FAQ
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