Profit and Loss
- A, B and C invest $ 15000, $ 20000 and $ 25000 respectively in a business. The profit earned is $ 1200. Find the share of A in the profit.
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Given that , Total profit = $ 1200
Invested money by A = $ 15000
Invested money by B = $ 20000
And Invested money by C = $ 25000
This is a case of simple partnership
Sum of the ratios = 3 + 4 + 5 = 12Correct Option: A
Given that , Total profit = $ 1200
Invested money by A = $ 15000
Invested money by B = $ 20000
And Invested money by C = $ 25000
This is a case of simple partnership
Sum of the ratios = 3 + 4 + 5 = 12Share of A = 3 × 1200 = $ 300 12
- What percent above cost price should goods be marked for sale so that after allowing (25 / 2) % trade discount and 5% cash discount, a net gain of 33% may be earned?
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If the C.P. is $ 100, the cash selling price = $ 133.
Now, let invoice price (after allowing T.D.) be 100, cash discount = 5 %
∴ When,
∴ y = 133 × 100 = ₹ 140 95 Now, Trade discount = 12 1 % 2 ∴ Marked price 100 – 12 1 T.D. = 87 1 (Invoice price) 2 2
Correct Option: D
If the C.P. is $ 100, the cash selling price = $ 133.
Now, let invoice price (after allowing T.D.) be 100, cash discount = 5 %
∴ When,∴ y = 133 × 100 = ₹ 140 95 Now, Trade discount = 12 1 % 2 ∴ Marked price 100 – 12 1 T.D. = 87 1 (Invoice price) 2 2
When,
Thus, marked price should be 60% = (160 – 100) above cost.
- A man purchases some mangoes at the rate of 3 for $ 4 and the same quantity at 5 for $ 6. If he sells all the mangoes at the rate of 3 for $ 5, find his approximate gain or loss per cent.
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Suppose the man purchases 1 mango in each case.
∵ C.P. of 3 mangoes = $ 4∴ C.P. of 1 mango = $ 4 3
Again,
∵ C.P. of 5 mangoes = $ 6∴ C.P. of 1 mango = $ 6 5 ∴ C.P. of 2 (mixed) mangoes = 4 + 6 = 20 + 18 = $ 38 3 5 15 15 ∴ C.P. of 1 mango = 1 × 38 = $ 19 2 15 15
Now, ∵ S.P. of 3 mangoes = $ 5∴ S.P. of 1 mango = $ 5 3 ∴ Profit = 5 - 19 = $ 6 = $ 2 3 15 15 5 ∵ Profit on $ 19 = $ 2 15 5 ∴ Profit on $ 1 = 2 × 15 5 19
Correct Option: C
Suppose the man purchases 1 mango in each case.
∵ C.P. of 3 mangoes = $ 4∴ C.P. of 1 mango = $ 4 3
Again,
∵ C.P. of 5 mangoes = $ 6∴ C.P. of 1 mango = $ 6 5 ∴ C.P. of 2 (mixed) mangoes = 4 + 6 = 20 + 18 = $ 38 3 5 15 15 ∴ C.P. of 1 mango = 1 × 38 = $ 19 2 15 15
Now, ∵ S.P. of 3 mangoes = $ 5∴ S.P. of 1 mango = $ 5 3 ∴ Profit = 5 - 19 = $ 6 = $ 2 3 15 15 5 ∵ Profit on $ 19 = $ 2 15 5 ∴ Profit on $ 1 = 2 × 15 5 19 ∴ Profit on $ 100 = 2 × 15 × 100 = $ 31 11 5 9 19 Hence, profit % = 31 11 % or ≈ 32% 19
- A man buys some quantity of wheat for $ 2400. He sells one-third of it at a profit of 5%. At what per cent gain should he sell the remaining two-third so as to make an overall profit of 10% on the whole transaction?
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As per the given in question ,
C.P. of 1 rd of wheat = $ 2400 = $ 800 3 3 S.P. of 1 rd of wheat = 105 × 800 = $ 840 3 100
C.P. of total wheat = $ 2400Required S.P. of total wheat = $ 
110 × 2400 
= $ 2640 100 C.P. of remaining 2 rd of wheat = 2 × 2400 = $ 1600 3 3 Required S.P. of remaining 2 rd of wheat = $ 2640 – 840 = $ 1800 3
Correct Option: B
As per the given in question ,
C.P. of 1 rd of wheat = $ 2400 = $ 800 3 3 S.P. of 1 rd of wheat = 105 × 800 = $ 840 3 100
C.P. of total wheat = $ 2400Required S.P. of total wheat = $ 110 × 2400 = $ 2640 100 C.P. of remaining 2 rd of wheat = 2 × 2400 = $ 1600 3 3 Required S.P. of remaining 2 rd of wheat = $ 2640 – 840 = $ 1800 3 Profit % = S.P. - C.P. × 100 C.P. Therefore, required profit % = 1800 - 1600 × 100 1600 Required profit % = 25 % = 12 1 % = 12.5% 2 2
- A dealer sold two coolers at $ 2,970 each. On selling one cooler, he gained 10%, on selling the other he lost 10%. Find the dealer’s gain or loss per cent.
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Here , S P of one cooler = $ 2,970
Profit % = 10 %
Let C P of the cooler be p
Then, SP = CP + Profit⇒ 2970 = p + 10 p 100 ⇒ 2970 = 110 p 100 ⇒ 2970 × 100 = p 110
⇒ p = $ 2700
For 2nd cooler, S P = $ 2970
Loss = 10 %
Let CP = q, then
SP = CP – Loss = 29702970 = q - 10 q 100
Correct Option: A
Here , S P of one cooler = $ 2,970
Profit % = 10 %
Let C P of the cooler be p
Then, SP = CP + Profit⇒ 2970 = p + 10 p 100 ⇒ 2970 = 110 p 100 ⇒ 2970 × 100 = p 110
⇒ p = $ 2700
For 2nd cooler, S P = $ 2970
Loss = 10 %
Let CP = q, then
SP = CP – Loss = 29702970 = q - 10 q 100 ⇒ 90q = 2970 ⇒ q = $ 3300 100
∴ Total cost price for coolers = $ 2700 + 3300 = $ 6000
Total selling price for two coolers = $ 2970 + 2970 = $ 5940
Hence, Loss = $ 6000 – 5940 = $ 60& Loss % = 60 × 100 = 1% 6000
