Profit and Loss
- Richa purchased an article at (4 / 5) of its list price and sold it at 20% more than the list price. Richa’s profit percent was
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Let list price of article = $ 100
∴ CP for Richa = 100 × 4 = $ 80 5
∴ S.P. for Richa = $ 120
∴ Gain = 120 – 80 = $ 40
Correct Option: A
Let list price of article = $ 100
∴ CP for Richa = 100 × 4 = $ 80 5
∴ S.P. for Richa = $ 120
∴ Gain = 120 – 80 = $ 40∴ Gain percent = 40 × 100 = 50% 80
- A tradesman allows a discount of 15% on the marked price. How much above the cost price must he mark his goods as to gain 19%?
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Let the CP of the article be $ 100.
∴ SP on 19% gain = Rs. 119
If the marked price be y, then,85 × y = 119 100 ⇒ 85 × y = 119 100
Correct Option: B
Let the CP of the article be $ 100.
∴ SP on 19% gain = Rs. 119
If the marked price be y, then,85 × y = 119 100 ⇒ 85 × y = 119 100 ⇒ y = 119 × 100 = 140 85
Clearly, the marked price is 40% above the cost price.
- Rita bought a television set with 20% discount on the labelled price. She made a profit of $ 800 by selling it for $ 16,800. The labelled price of the set was
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Let the marked price of the television be $ y.
CP for Rita = $ (16800 – 800) = $ 16000
∴ ( 100 - 20 )% of y = 16000
⇒ 80% of y = 16000Correct Option: B
Let the marked price of the television be $ y.
CP for Rita = $ (16800 – 800) = $ 16000
∴ ( 100 - 20 )% of y = 16000
⇒ 80% of y = 16000⇒ y = 16000 × 100 = $ 20000 80
- The cost price of an article is $ 800. After allowing a discount of 10%, a gain of 12.5% was made. Then the marked price of the article is
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Given that , The cost price of an article = $ 800.
Let the marked price of the article be $ y∴ 90y = 800 × 112.5 100 100 ⇒ 9y = 900 10
Correct Option: A
Given that , The cost price of an article = $ 800.
Let the marked price of the article be $ y∴ 90y = 800 × 112.5 100 100 ⇒ 9y = 900 10 ⇒ y = 900 × 10 = $ 1000 9
- A shopkeeper allows 23% commission on his advertised price and still makes a profit of 10%. If he gains $ 56 on one item, his advertised price of the item, (in $) is
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Let the advertised price be y .
⇒ S.P. = 77y 100 ⇒ C.P. = 
77y - 56 
100 ∴ 77y - 5600 × 110 = 77y 100 100 100
Correct Option: D
Let the advertised price be y .
⇒ S.P. = 77y 100 ⇒ C.P. = 77y - 56 100 ∴ 77y - 5600 × 110 = 77y 100 100 100 ⇒ 77y - 5600 × 77y = 7y 100 110 10
⇒ 77y – 5600 = 70y
⇒ 7y = 5600
⇒ y = 800
