Profit and Loss
- A man bought a certain quantity of rice at the rate of $ 650 per quintal. 20% of the rice was spoiled. At what rate should he sell the remaining rice to gain 20% on the outlay?
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Let 10 quintals of rice be bought.
C.P. of rice = $ 650 per quintal
∴ Actual C.P. of 10 quintals of rice = 650 × 10 = $ 6500
On 20% gain ,∴ Required S.P = 6500 × 120 = $ 7800 100
If 20% of the rice was spoiled , then remaining quantity of rice = 10 - 2 = 8 quintals
Correct Option: D
Let 10 quintals of rice be bought.
C.P. of rice = $ 650 per quintal
∴ Actual C.P. of 10 quintals of rice = 650 × 10 = $ 6500
On 20% gain ,∴ Required S.P = 6500 × 120 = $ 7800 100
If 20% of the rice was spoiled , then remaining quantity of rice = 10 - 2 = 8 quintals∴ Rate of selling = 7800 = $ 975 8
- Joseph’s salary is reduced by 10%. In order to have his salary back to his original amount, it must be raised by
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As per the given question ,
Required percent increase = 10 × 100 % 100 - 10
Correct Option: B
As per the given question ,
Required percent increase = 10 × 100 % 100 - 10 Required percent increase = 10 × 100 = 11 1 % 90 9
- A person sells a table at a profit of 10%. If he had bought the table at 5% less cost and sold for $ 80 more, he would have gained 20%. The cost price of the table is
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Suppose CP of table be y .
SP at a profit of 10% = y × 110 = 11y 100 10 CP at 5% less = y × 95 = 19y 100 20
According to question ,19y × 120 = 11y + 80 20 100 10 ⇒ 57y - 11y = 80 50 10
Correct Option: C
Suppose CP of table be y .
SP at a profit of 10% = y × 110 = 11y 100 10 CP at 5% less = y × 95 = 19y 100 20
According to question ,19y × 120 = 11y + 80 20 100 10 ⇒ 57y - 11y = 80 50 10 ⇒ 2y = 80 50 ⇒ y = 80 × 50 = $ 2000 2
- A merchant fixes the sale price of his goods at 15% above the cost price. He sells his goods at 12% less than the fixed price. His percentage of profit is :
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Let the cost price be $ 100.
According to question ,
∴ Marked price = $ (100 + 15% of 100) = $ 115
The goods are sold at the discount of 12%.
∴ S.P. = (115 – 12% of 115) = (115 – 13.80) = $ 101.20
Profit = (101.20 – 100) = $ 1.20∴ Profit % = 1.20 × 100 = 1.2% 100
Correct Option: B
Let the cost price be $ 100.
According to question ,
∴ Marked price = $ (100 + 15% of 100) = $ 115
The goods are sold at the discount of 12%.
∴ S.P. = (115 – 12% of 115) = (115 – 13.80) = $ 101.20
Profit = (101.20 – 100) = $ 1.20∴ Profit % = 1.20 × 100 = 1.2% 100 Profit % = 1 2 = 1 1 % 10 5
- The price of a jewel, passing through three hands, rises on the whole by 65%. If the first and the second sellers earned 20% and 25% profit respectively, the profit earned by the third seller is
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Let the C.P. of the jewel be $ 100
S.P. for the first person = $ 120S.P. for the second person = $ 120 × 125 = $ 150 100
Now, let the profit earned by the third person be y%
∴ 150 of ( 100 + y )% = 165∴ 150 × 100 + y = 165 100
Correct Option: C
Let the C.P. of the jewel be $ 100
S.P. for the first person = $ 120S.P. for the second person = $ 120 × 125 = $ 150 100
Now, let the profit earned by the third person be y%
∴ 150 of ( 100 + y )% = 165∴ 150 × 100 + y = 165 100 ⇒ 100 + y = 165 × 10 = 110 15
⇒ y = 110 – 100 = 10%