Quiz: Profit and Loss Set 10

• A person saves 20 percent of his income. If the income of that person increased by 16 percent and he decided to save 25 percent, then find the percent increase in his saving as compared to previous one.
a) 40%
b) 45%
c) 50%
d) 55%
e) None of these

Explanation :
Let initial income = 100 so his saving is rupees = 20.
Now his income is 116 and he save = 116*25/100 = 29
So % increase in saving = (9/20)*100 = 45
• A person sell two horses for rupees 480 each. On the first horse he gains 25 percent and on the second horse he losses 25 percent. Find the percent gain or loss in the transaction.
a) loss 6.75%
b) gain 6.75%
c) loss 6.25%
d) gain 6.25%
e) None of these

Explanation :
sol=> When same quantity is sell at same price and percent gain and loss is same then there is always loss occurred. To calculate the loss percent = ((common loss or gain)/10)^2
i.e. (25/10)^2 = 6.25% loss
• P calculates his profit percent on selling price while Q calculates his profit percent on cost price. They notice that difference between their profits is 1000 rupees. If selling price of both P and Q are same and P gets 40% profit and Q gets 60% profit. Then find their selling price
a) 7750
b) 8750
c) 9750
d) 1050
e) None of these

Explanation :
Let selling price  = SP and cost price of A = CP1 and that of Q = CP2.
For P, % profit = (SP – CP1)/SP = 40/100. We get CP1 = (3/5)*SP
For Q, % profit = (SP – CP2)/CP2 = 60/100. We get CP2 = (5/7)*SP
Now, CP2 – CP1 = 1000. Solve this and we get SP = 8750
• A dealer sells a goat for rupees 600 and there by gains 20 percent. He sells another goat at 5 percent loss and on the whole there is no loss no profit. Find the cost price of the second goat
a) 1000
b) 2000
c) 3000
d) 4000
e) None of these

Explanation :
600 = (120/100)*cp
so cp of first goat = 500. So in the first deal he gains 100 rupees.
But on selling second horse he losses 5 percent, means (5/100)*CP = 100
So cp of second goat = 2000
• If a discount of 10 percent is given on the marked price of the article then the seller gains 20 percent profit. Find the percent profit if the article is sold at 20 percent discount.
a) 10/3 %
b) 20/3 %
c) 25/3 %
d) 40/3 %
e) None of these

Explanation :
Let marked price = 100
90 = (120/100)*cp, cp = 75
Now discount = 20% so, SP = 80
% profit = [(80 – 75)/75]*100 = 20/3
• What will be the profit percentage after selling an article at certain price if there is a loss of 40 percent when the same article is sold at 2/5 of the earlier selling price ?
a) 20%
b) 40%
c) 50%
d) 90%
e) None of these

Explanation :
CP = 2/3 of Sp
SP = (100+p)/100 of cp
CP = 2/3[(100+p)/100] cp
P = 50
Solve both equation, we will get P = 50
• By selling 22 meters of cloth a shopkeeper gains cost price of 4 meter cloth. Find the percent profit/loss occurred by the shopkeeper.
a) profit 200/9 %
b) loss 200/11 %
c) profit 200/11 %
d) loss 200/11 %
e) None of these

Answer – c) profit 200/11 %
Explanation :
SP (22) – CP (22) = CP (4)
so, SP of 22 meter cloth = CP of 26 meter cloth
Let cost price of 1 meter cloth is re 1
Then CP = 22 and selling price = 26, then % profit = (4/22)*100 = 200/11 %
• Rohit bought an article at 25 percent discount on labelled price. He again sells the article at 20 percent on labelled price. Find the percent profit earned by rohit in whole transaction
a) 30%
b) 40%
c) 50%
d) 60%
e) None of these

Explanation :
Let labelled price is 100. Rohit bought it for 75 after getting 25% discount.
Now he sells the article at (120/100)*100 = 120. So % profit he earns = (45/75)*100 =60
• A toys manufacturing company declares 20 percent discount for whole sale buyers. A trader bought toys for rupees 4000 after getting the discount. Now he sells the toys at 15 percent profit on the original price of the company. What is the selling price of the toys?
a) 4750
b) 5740
c) 5750
d) 6750
e) None of these

Explanation :
Let original price of toys be M,
(80/100)*M = 4000, M = 5000
Now to gain 15% on the original price, the trader will sell the toys at (115/100)*5000 = 5750 rupees
• Raman buys some apples at the rate of four for a rupee and same numbers of oranges at three for a rupee. To make a profit of 25%, Raman should sell a 6 apples for.
a) 3.75
b) 4.75
c) 5.75
d) 6.75
e) None of these