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Profit & Loss Questions and Answers

Important Instructions
101.

Some articles were bought at 6 articles for\( Rs. 5\) and sold at 5 articles for \(Rs. 6.\) Gain percent is:

Answer: D

Suppose, number of articles bought \(= L.C.M.\) of \(6\) and \(5 = 30.\)

Cost Price of \(= Rs. (\frac{5}{6} \times 30) = Rs. 25.\)

Selling Price of \(30\) articales \(= Rs. (\frac{6}{5} \times 30) = Rs. 36.\)

\(\therefore\) Gain % \(= (\frac{11}{25} \times 100)\) % \(= 44\) %.

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102.

Profit earned by an organisation is distributed among officers and clerks in the ratio of 5 : 3. If the number of officers is 55 and the number of clerks is 70 and the amount received by each officer is Rs12,000, what was the total amount of profit earned?

Answer: C

The total amount distributed among 55 officers \(= Rs. 55 \times 1200 = Rs. 6,60,000.\)

Their ratio \(5:3\)

Total profit \(= 6,60,000 + 396000 = Rs 10,56,000.\)

 

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103.

Sam purchased \(20 dozens\) of toys at the rate of \(Rs. 375\) per dozen. He sold each one of them at the rate of \(Rs. 33.\) What was his percentage profit?

Answer: C

Cost Price of \(1\) toy \(= Rs. (\frac{375}{12}) = Rs. 31.25\)

Selling Price of \(1\) toy \(= Rs. 33\)

So. Gain \(= Rs. (33 - 31.25) = Rs. 1.75\)

\(\therefore\) Profit % \(= (\frac{1.75}{31.25} \times 100)\) % \(= \frac{28}{5}\) % \(= 5.6\) %

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104.

If selling price is doubled, the profit triples. Find the profit percent.

Answer: B

Cost price be \(Rs. x\) and Selling price be \(Rs. y.\)

Then, \(3(y - x) = (2y - x) \)

\(\Rightarrow y = 2x\)

Profit \(= Rs. (y - x) = Rs. (2x - x) = Rs. x.\)

\(\therefore\) Profit % \(= (\frac{x}{x} \times 100)\) % \(= 100\) %

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105.

\(Two \) Mangoes, \(three \) grapes and \(four \) apples cost \(Rs. 15.\) \(Three\) Mangoes, \(two\) grapes and \(one\) apple cost \(Rs. 10.\) I bought \(3\) Mangoes, \(3\) grapes and \(3\) apples. How much did I pay?

Answer: B

Mango \(= X;\) Grape \(= Y;\) Apple \(= Z;\)

\(2X + 3Y + 4Z= 15 - 1\)

\(3X + 2Y + Z = 10 - 2\)

Adding (1) and (2) \(5X + 5Y + 5Z = 25\)

Clearly, \(X + Y + Z = 5\)

So cost of \(3\) Mangoes, \(3\) Grapes and \(3\) Apples will be \(3X + 3Y + 3Z \) \(i.e, 15\)

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