Profit And Loss - Study Mode
[#176] A shopkeeper calculate percentage profit on the buying price and another on the selling price. What will be their difference in profits if both claim a profit of 20% on goods sold for Rs. 3000?
Correct Answer
(B) Rs. 100
Explanation
Solution: For 20% profit on selling price means $$frac{1}{5}$$ of 3000 i.e. Rs. 600 Now, let the CP = Rs. 100, Then, SP with 20% profit = Rs. 120 For 20% profit on selling price means cost is 100 + profit is 20 = selling price is 120. Means selling price is 120% of cost price. Now selling price is 120% ie 3000 then find 100% amount which will be cost. Cost = $$frac{{3000}}{{120}}\% $$ = $$frac{{3000}}{{frac{6}{5}}}$$ Because, 120% = $$frac{6}{5}$$ = 3000 x $$frac{5}{6}$$ = 2500 Cost is 2500 Thus profit is 20% i.e. $$frac{1}{5}$$ x 2500 = 500Thus, Difference is 600 - 500 = Rs.100
[#177] A pharmaceutical company made 3000 strips of tablets at a cost of Rs. 4800. The company gave away 1000 strips of tablets to doctors as free samples. A discount of 25% was allowed on the printed price. Find the ratio profit if the price is raised from Rs. 3.25 to Rs. 4.25 per strip and if at the latter price, samples to doctors were done away with. (New profit / Old profit).
Correct Answer
(B) 63.5
Explanation
Solution: Total sales revenue (Old) = 2000 × 3.25 × 0.75 = 4875 [0.75 as 25% discount was allowed] Profit old = Total sales revenue - 4800 = 4875 - 4800 = 75 Total sales revenue (New) = 3000 × 4.25 × 0.75 = 9562.5 [New price is calculated on doctors samples as well.] Profit new = 9562.5 - 4800 = 4762.5 Ratio, $$frac{{{ ext{Profi}}{{ ext{t}}_{{ ext{new}}}}}}{{{ ext{Profi}}{{ ext{t}}_{{ ext{old}}}}}} = frac{{4762.5}}{{75}} = 63.5$$
[#178] An article costing Rs. 20 was marked 25% above the cost price. After two successive discounts of the same percentage, the customer now pays Rs. 20.25. What would be the percentage change in profit had the price been increased by the same percentage twice successively instead reducing it?
Correct Answer
(D) 4000%
Explanation
Solution: The successive discounts must have been of 10% each As 20 (CP) == 25%↑ ⇒ 25(MP) == 10↓ ⇒ 22.5 == 10%↓ ⇒ 20.25(SP) Profit = 20.25 - 20 = 0.25 Increased percentage if price have been increased twice successively instead of reducing it, 20(MP) == 10%↑ ⇒ 27.5 == 10%↑ ⇒ 30.25 Profit = 30.25 - 20 = 10.25. Profit Change = 10.25 - 0.25 = 10 Percentage Profit change, = $$frac{{10 imes 100}}{{0.25}}$$ = 4000%
[#179] A pen company produces very fine quality of writing pens. Company knows that on average 10% of the produced pens are always defective so are rejected before packing. Company promises to deliver 7200 pens to its wholesaler at Rs. 10 each. It estimates the overall profit on all the manufactured pens to be 25%. What is the manufactured cost of each pen?
Correct Answer
(B) Rs. 7.2
Explanation
Solution: The company is able to deliver 90% of the manufactured pens. Means to produce 7200 pens they must have to produce 8000 pens as 10% are defectives. So, let K be the manufacturing price of each pen. Total income (including 25% profit) = 8000 × K × 1.25 This same income is obtained by selling 90% manufactured pens at Rs. 10 which is equal to 7200 × 10 Thus, 8000 × K × 1.25 = 7200 × 10 K = Rs. 7.2 [90% of 8000 = 7200]
[#180] A company charges a fixed rental of Rs. 350 per month. It allows 200 calls free per month. Each call is charge at Rs. 1.4 when the number of calls exceed 200 per month and it charges Rs. 1.6 when the number of calls exceeds 400 per month and so on. A customer made 150 calls in February and 250 calls in march. By how much percent each call is cheaper in March than each call in February.
Correct Answer
(A) 28%
Explanation
Solution: $$eqalign{
& { ext{Charge per call in February}} cr
& = frac{{350}}{{150}} = frac{7}{3} = 2.33 cr
& { ext{Charge per call in March}} cr
& = frac{{ {350 + left( {50 imes 1.4}
ight)} }}{{250}} cr
& = frac{{420}}{{250}} = frac{{42}}{{25}} = 1.68 cr
& \% { ext{ Cheaper call rate in March}}. cr
& = {frac{{ {2.33 - 1.68} }}{{2.33}}} imes 100 cr
& = 28\% cr} $$