Profit and Loss

Profit and Loss

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  1. Ravi purchased a scooter at 11/13th of its marked price and sold it at 10% more than its marked price. His gain per cent is ?








  1. View Hint View Answer Discuss in Forum

    Let the MP of a scooter = ₹ P
    ∴ CP of a scooter= ₹ 11P/13, Gain = 10%
    SP = (110/100) x P= ₹ 11P/10
    Gain = SP - CP = (11P/10 - 11P/13) = (143P - 110P)/130 = ₹ 33P/130

    Correct Option: C

    Let the MP of a scooter = ₹ P
    ∴ CP of a scooter= ₹ 11P/13, Gain = 10%
    SP = (110/100) x P= ₹ 11P/10
    Gain = SP - CP = (11P/10 - 11P/13) = (143P - 110P)/130 = ₹ 33P/130
    Gain percentage = (33P/130) x (13/11P) x 100 % = 30%

  1. A trader allows a discount of 10% on the marked price of an article. How much percentage above the cost price the article be marked to make a profit of 17% ?








  1. View Hint View Answer Discuss in Forum

    Let the CP be ₹ 100 and let MP be ₹ x above ₹ 100.
    Then, MP = ₹ (100 + x) and discount =10%
    ∴ SP = [(90/100) x (100 + x)] = ₹ 177

    Correct Option: B

    Let the CP be ₹ 100 and let MP be ₹ x above ₹ 100.
    Then, MP = ₹ (100 + x) and discount =10%
    ∴ SP = [(90/100) x (100 + x)] = ₹ 177
    ⇒ x = 30
    So, cost should be labelled at 30% above CP.

  1. A shopkeeper marks his goods at such a price that he can deduct 20% for cash and yet make 20% profit. The marked price of an item which cost him ₹ 180 is ?








  1. View Hint View Answer Discuss in Forum

    CP = ₹ 180, gain = 20%
    ∴ SP = (120/100) x 180 = ₹ 216
    Let the MP be ₹ P.
    Then, 80% of P = 216

    Correct Option: A

    CP = ₹ 180, gain = 20%
    ∴ SP = (120/100) x 180 = ₹ 216
    Let the MP be ₹ P.
    Then, 80% of P = 216
    ∴ (80/100) x P = 216
    ⇒ P = (216 x 100)/80 = 270
    Thus, MP is ₹ 270.

  1. A trader fixed the price of an article in such a way that by giving a rebate of 10% on the price fixed, he made a profit of 15% . If the cost of the article is ₹ 72. The fixed price on it, is ?








  1. View Hint View Answer Discuss in Forum

    Let the fixed price of article = ₹P
    Then, Selling price = 90% of P = (90 x P)/100 = ₹ 9P/10
    Also, the selling price = 115% of 72 = ₹(115 x 72)/100
    ⇒ (115 x 72)/100 = 9P/10

    Correct Option: C

    Let the fixed price of article = ₹P
    Then, Selling price = 90% of P = (90 x P)/100 = ₹ 9P/10
    Also, the selling price = 115% of 72 = ₹(115 x 72)/100
    ⇒ (115 x 72)/100 = 9P/10
    ∴ P = ₹ 92

  1. A showroom owner sells a leather jacket for ₹ P and claims to make a profit of 10%. He plans to have stall in the trade fair and marks the same jacket at ₹ 2P, at the stall, he allows a discount of 20%. What will be the percentage profit that he will make at the trade fair ?








  1. View Hint View Answer Discuss in Forum

    SP at the stall at the trade fair = 2P - 20% of 2P = 8P/5
    CP of the jacket = (P x 100)/(100 + 10) = 10P/11
    ∴ profit = 8P/5 - 10/11 = 38P/55

    Correct Option: C

    SP at the stall at the trade fair = 2P - 20% of 2P = 8P/5
    CP of the jacket = (P x 100)/(100 + 10) = 10P/11
    ∴ profit = 8P/5 - 10/11 = 38P/55
    ∴ Profit per cent made at the trade fair = [(38P/55) / (10P/11)]x 100
    = (38/5) x (1/10) x 100
    = 76%