Profit And Loss - Study Mode

[#121] By selling 12 kg of potatoes for 63, a shopkeeper gains 5%. What does his gain or loss percent by selling. 50 kg of the same potatoes for 247.50 ?
Correct Answer

(B) 1% loss

Explanation

Solution: Selling price of 1 potatoes $$eqalign{
& = { ext{Rs}}{ ext{.}}frac{{63}}{{12}} cr
& = { ext{Rs}}{ ext{.}}frac{{21}}{4} cr
& { ext{CP}} imes frac{{left( {100 + { ext{P}}}
ight)}}{{100}} = { ext{SP}} cr
& { ext{CP}} imes frac{{105}}{{100}} = frac{{21}}{4}{ ext{ }} cr
& { ext{CP}} = { ext{Rs}}{ ext{. 5}} cr} $$ Gain or loss percent by selling 50 kg of the same potatoes for Rs. 247.50 Cost price of 50 kg potatoes = 50 × 5 = Rs. 250 Loss = 250 - 247.50 = Rs. 2.50 $$eqalign{
& { ext{Loss }}\% = frac{{2.50}}{{250}} imes 100 cr
& ,,,,,,,,,,,,,,,,,,,, = 1\% cr} $$

[#122] If on a marked price, the difference of selling prices with a discount of 30% and two successive discounts of 20% and 10% is Rs. 72, then the marked price in Rs. is
Correct Answer

(D) 3600

Explanation

Solution: Let the M.P. be Rs. x Then, (90% of 80% of x) - (70% of x) = 72 $$eqalign{
& Rightarrow left( {frac{{90}}{{100}} imes frac{{80}}{{100}} imes x}
ight) - left( {frac{{70}}{{100}} imes x}
ight) = 72 cr
& Rightarrow frac{{72}}{{100}}x - frac{{70}}{{100}}x = 72 cr
& Rightarrow frac{2}{{100}}x = 72 cr
& Rightarrow x = left( {frac{{72 imes 100}}{2}}
ight) cr
& ,,,,,,,,,,,,,, = 3600 cr} $$

[#123] An article is listed at Rs. 900 and two successive discounts of 8% and 8% are given on it. How much would the seller gain or lose, if he gives a single discounts of 16%, instead of two discounts?
Correct Answer

(B) Loss of Rs. 5.76

Explanation

Solution: $$eqalign{
& { ext{Loss}} = { ext{Rs}}.left[ {left( {92\% { ext{ of }}92\% { ext{ of }}900}
ight)} - {left( {84\% { ext{ of }}900}
ight)}
ight] cr
& = { ext{Rs}}.left[ {left( {frac{{92}}{{100}} imes frac{{92}}{{100}} imes 900}
ight) - left( {frac{{84}}{{100}} imes 900}
ight)}
ight] cr
& = { ext{Rs}}.left( {761.76 - 756}
ight) = { ext{Rs}}.5.76 cr
& = { ext{Loss of Rs}}{ ext{. }}5.76 cr} $$

[#124] A dishonest dealer sells a product at 11% loss on cost price, but uses 22% less weight. What is his percentage profit or loss?
Correct Answer

(B) 14.1% gain

Explanation

Solution: Let cost price = 100 × weight 78 = 7800 Sale price = 89 × weight 100 = 8900 Profit % = $$frac{{1100}}{{7800}}$$ xa0× 100 = 14.1% gain

[#125] Apples were purchased at 100 for Rs. 350 and sold at Rs. 48 a dozen. What is the profit or loss percentage?
Correct Answer

(A) Profit $$14frac{2}{7}\% $$

Explanation

Solution: $$eqalign{
& { ext{Cost Price}} = frac{{350}}{{100}} = 3.50 cr
& { ext{Sale Price}} = frac{{48}}{{12}} = 4 cr
& { ext{Profit}} = 0.50 cr
& { ext{Profit }}\% = frac{{0.50}}{{3.50}} imes 100 = frac{{100}}{7} = 14frac{2}{7}\% cr} $$