Profit & Loss Questions and Answers

Answer: C

The profit will be 23%.

Find the marked price from the first sale, then the new selling price:

\[ \begin{aligned} MP &= \frac{324}{0.72} = 450 \\ SP &= 450 \times 0.82 = 369 \\ \text{profit} &= \frac{369 - 300}{300} \times 100 = 23\% \end{aligned} \]

The present profit on ₹ 324 is 8%; cutting the discount by 10 percentage points raises the selling price by ₹ 45, which adds 15% of the cost price. 10% and 24% do not follow from these figures.

Answer: B

The overall profit is ₹ 3000.

\[ \begin{aligned} \text{MP} &= 24000 \times 1.25 = 30000 \\ \text{SP} &= 30000 \times 0.90 = 27000 \\ \text{Profit} &= 27000 - 24000 = 3000 \end{aligned} \]

The net effect is \(1.25 \times 0.9 = 1.125\), a 12.5% profit on 24,000. Taking the discount on the cost price instead, 24,000 × 1.25 - 2,400 = 27,600, gives a profit of 3,600, which is not offered; the listed distractors come from similar slips.

Answer: D

The shopkeeper's loss is 6 2/3 per cent. Suppose he claims to sell 1 kg for its cost price of 100 rupees reduced by 30 %, that is 70 rupees, but he actually gives only 750 g. The goods he gives cost \[0.75 \times 100 = 75\] rupees and he receives 70 rupees, so the loss is 5 rupees on 75. \[\frac{5}{75} \times 100 = 6\frac{2}{3}\ \%\] The options 5 per cent, 5 1/3 per cent and 6 per cent come from subtracting the percentages (30 and 25) wrongly or using 100 instead of 75 as the base.

Answer: A

Seema earns a profit of 251 rupees. She buys at a 32 % discount on 2800: \[2800 \times 0.68 = 1904\] She sells after a 15 % discount on the marked price, 2800 x 0.85 = 2380, and a further 225 rupees off for a credit card payment: \[2380 - 225 = 2155\] Profit: \[2155 - 1904 = 251\] The options 255, 261 and 265 would need a different discount or cost, and none of them follows from the printed figures.

Answer: B

The selling price should be Rs. 318. A sale at Rs. 282 with a loss of 6% means 282 is 94% of the cost price, so \[ CP = \frac{282}{0.94} = 300 \] To earn a profit of 6% the selling price must be \[ 300\times 1.06 = 318 \] Rs. 300 is the cost price itself, Rs. 208 and Rs. 420 are unrelated values, so only Rs. 318 is right.

Answer: C

The value of x is 200. The cost price of 232 books equals the selling price of x books. With a profit of 16% the selling price of one book is 1.16 times its cost price, so \[ 232\times CP = x\times 1.16\times CP \] \[ x = \frac{232}{1.16} = 200 \] Check: \(200\times 1.16 = 232\), so the selling price of 200 books equals the cost price of 232 books, which no other option satisfies.

In general, if n books cost the same as x books sell for at a profit of p percent, then x = n / (1 + p/100), here 232 / 1.16 = 200.

Answer: A

The final selling price is Rs. 2380. A discount of 30% leaves 70% of the price and a further discount of 15% leaves 85% of that: \[ 4000\times 0.70 = 2800 \] \[ 2800\times 0.85 = 2380 \] Adding the discounts to give 45% would give Rs. 2200, which is not offered, and Rs. 4370, Rs. 2880 and Rs. 2330 do not follow from successive discounts in this order. So Rs. 2380 is correct.

The single equivalent discount is 30 + 15 - (30 x 15)/100 = 40.5%, so the price is 4000 x 0.595 = 2380, which agrees.

Answer: B

The single equivalent discount is 46.45%. Successive discounts of 10%, 15% and 30% leave 90%, 85% and 70% of the marked price: \[ 0.90\times 0.85\times 0.70 = 0.5355 \] So the price after the three discounts is 53.55% of the marked price, and the single discount is \[ 100 - 53.55 = 46.45\% \] The sum 55% is not the answer, because each later discount applies to the reduced price. The other options 78.14%, 56.12% and 66.12% are not near the product.

Answer: B

The loss is the cost price minus the selling price. The mobile is worth 10,000 rupees (taken as its cost price) and is sold for 9,876 rupees.

\[ \text{Loss} = 10000 - 9876 = 124 \]

The loss is 124 rupees. The values 250, 315 and 425 are not equal to the difference and could only come from misreading the selling price. The answer is 124, option B.

Answer: B

The marked price is 300 rupees and the discount is 30 per cent, so the selling price is

\[ 300 \times 0.70 = 210 \]

She still makes a profit of 5 per cent, which means that the selling price is 105 per cent of the cost price.

\[ \text{CP} = \frac{210}{1.05} = 200 \]

So the cost price is 200 rupees. Taking 5 per cent of the marked price instead would give 195, which is not offered, so the intended reading is a profit on the cost. The answer is 200, option B.