Profit and Loss
- A bought an article, paying 5% less than the original price. A sold it with 20% profit on the price he had paid. What percent of profit did A earn on the original price?
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Here , a = 20% , b = 5%
We can find required profit % with the help of given formula ,Profit percent = 
a - b - a × b 
% 100 Profit percent = 20 - 5 - 20 × 5 % = 14 % 100
Second Method to find required answer
Let original price of article = $ 100
C.P. = $ 95
Correct Option: C
Here , a = 20% , b = 5%
We can find required profit % with the help of given formula ,Profit percent = a - b - a × b % 100 Profit percent = 20 - 5 - 20 × 5 % = 14 % 100
Second Method to find required answer
Let original price of article = $ 100
C.P. = $ 95S.P. = 95 × 120 = $ 114 100 ∴ Required gain percent = 14 × 100 = 14% 100
- A shopkeeper bought 200 articles, each costing the same. He sold 30% of the articles at 20% profit and remaining at 10% profit. If the total profit made by him is $ 2600, find the cost price of one article.
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Let C.P. of each article = $ 1
∴ Total C.P. = $ 200Total S.P. = 60 × 120 + 140 × 110 100 100
Correct Option: D
Let C.P. of each article = $ 1
∴ Total C.P. = $ 200Total S.P. = 60 × 120 + 140 × 110 100 100
Total S.P. = 72 + 154 = $ 226
Gain = Total S.P. - Total C.P. = 226 – 200 = $ 26
When gain = $ 26 , C.P. = $ 1
When gain = $ 2600, C.P. = $ 100
- A dishonest fruit vendor sells his goods at cost price but he uses a weight of 900 gm for a kg. weight. His gain percent is:
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Suppose Actual weight of article = 1000
False weight of article = 900
Gain = 1000 - 900 = 100Gain percent = 100 × 100 900 Gain percent = 100 = 11 1 % 9 9
Using the given formula :∴ Gain % = True weight - False weight × 100 % False weight
Correct Option: B
Suppose Actual weight of article = 1000
False weight of article = 900
Gain = 1000 - 900 = 100Gain percent = 100 × 100 900 Gain percent = 100 = 11 1 % 9 9
Using the given formula :∴ Gain % = True weight - False weight × 100 % False weight Gain percent = 1000 - 900 × 100 900 = 100 × 100% 900 Gain percent = 100 = 11 1 % 9 9
- From 2008 to 2009, the sales of a book decreased by 80%. If the sales in 2010 were the same as in 2008, by what percent did it increase from 2009 to 2010?
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Let number of books sold in 2008 = 100
If sales of a book decreased by 80% , then
Number of books sold in 2009 = 20
Number of books sold in 2010 = 100
Increase = 100 - 20 = 80∴ Required percentage increase = Increase × 100 Number of books sold in 2009
Correct Option: B
Let number of books sold in 2008 = 100
If sales of a book decreased by 80% , then
Number of books sold in 2009 = 20
Number of books sold in 2010 = 100
Increase = 100 - 20 = 80∴ Required percentage increase = Increase × 100 Number of books sold in 2009 Required percentage increase = 80 × 100 = $ 400% 20
- A merchant fixed the selling price of his articles at $ 700 after adding 40% profit to the cost price. As the sale was very low at this price level, he decided to fix the selling price at 10% profit. Find the new selling price.
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Here , Selling price of articles = $ 700
On 40% profit ,C.P. of the article = 700 × 100 = $ 500 140
Correct Option: B
Here , Selling price of articles = $ 700
On 40% profit ,C.P. of the article = 700 × 100 = $ 500 140 ∴ New selling price at 10% profit = 500 × 110 = $ 550 100
