Profit and Loss


  1. If the cost price of 20 articles is equal to the selling price of 15 articles, find the profit per cent.











  1. View Hint View Answer Discuss in Forum

    Given that, a = 20 and b = 15
    According to the formula,
    Profit %= [(a - b) / b] x 100 %

    Correct Option: B

    Given that, a = 20 and b = 15
    According to the formula,
    Profit %= [(a - b) / b] x 100 %
    = (5/15) x 100% = 100/3 %
    = 331/3%


  1. A dishonest dealer professes to sell his goods at cost price but he uses a weight of 920 g for 1 kg weight. Find his gain per cent











  1. View Hint View Answer Discuss in Forum

    According to the formula,
    Gain% = [Error / (True value - Error)] x 100%
    = [80/(100 - 80)] x 100%

    Correct Option: B

    According to the formula,
    Gain% = [Error / (True value - Error)] x 100%
    = [80/(100 - 80)] x 100%
    = (80/920) x 100%
    = 816/23 %



  1. A dealer sells goods at 4% loss on cost price but he uses 28 g instead of 32 g. What is his per cent profit or loss ?











  1. View Hint View Answer Discuss in Forum

    Given that, a = 4%, b = 28 g and c = 32 g
    Required profit = [(100 - a) x (c/b) -100] %
    =[(100 - 4) x (32/28) - 100] %
    = [96 x (32/28) - 100]%

    Correct Option: A

    Given that, a = 4%, b = 28 g and c = 32 g
    Required profit = [(100 - a) x (c/b) -100] %
    =[(100 - 4) x (32/28) - 100] %
    = [96 x (32/28) - 100]%
    = [(96 x 8)/7 - 100]%
    = (768 - 700)/7 %
    = 68/7 %
    = 95/7 % gain
    + ve sign shows that profit is earned here.


  1. A dealer bought 80 cricket bats for ₹ 50 each. He sells 20 of them at a gain of 5%. What must be the gain percentage of the remaining bats, so as to get 10% gain on the whole ?









  1. View Hint View Answer Discuss in Forum

    Let required percentage profit = N%
    According to the question,
    10% of (80 x 50) = 5% of (20 x 50) + N% of (60 x 50)

    Correct Option: C

    Let required percentage profit = N%
    According to the question,
    10% of (80 x 50) = 5% of (20 x 50) + N% of (60 x 50)
    ⇒ (80 x 50 x 10)/100 = [(20 x 50 x 5)/100] + (60 x 50 x N)/100
    ⇒ 80 = 10 + 6N
    ⇒ N = 70/6 = 112/3%



  1. A furniture seller sells two tables ₹ 1500 each. He earned a profit of 20% on one table and suffered a loss of 20% on the another table. Net profit or loss in this deal is











  1. View Hint View Answer Discuss in Forum

    Required loss = (a/10)2 %

    Correct Option: A

    Required loss = (a/10)2%
    = (20/10)2% = 4%
    Thus, seller gets 4% loss in the deal.