Profit And Loss - Study Mode

[#281] When an article was sold for Rs. 696, percent profit earned was P%. When the same article was sold for Rs. 841, percent profit earned was (p + 25%). What is the value of P?
Correct Answer

(D) 20%

Explanation

Solution: Sale price of an article is Rs. 696, when profit = P% Sale price of an article is Rs. 841, when profit = P + 25% Difference in selling price = Rs. (841 - 696) = Rs. 145 Difference of profit percentages = P + 25% - p = 25% ∴ Let the cost price of article be Rs. x, then, 25% of x = Rs. 145 $$eqalign{
& Rightarrow x imes frac{{25}}{{100}} = { ext{Rs}}.145 cr
& Rightarrow x = frac{{145 imes 100}}{{25}} cr
& Rightarrow { ext{Rs}}{ ext{. }}580 cr} $$ ∴ Profit = Sale Price - Cost Price = Rs. (696 - 580) = Rs. 116 $$eqalign{
& { ext{Profit}} = { ext{p}}\% cr
& herefore 580 imes frac{p}{{100}} = 116 cr
& Rightarrow { ext{p}} = frac{{116 imes 100}}{{580}} cr
& Rightarrow { ext{p}} = 20\% cr} $$

[#282] Raza purchased a bicycle for Rs. 6810. He had paid a VAT of 13.5%. The list price of the bicycle was = ?
Correct Answer

(D) Rs. 6000

Explanation

Solution: VAT % = 13.5% Cost price (including VAT) = Rs. 6810 $$eqalign{
& herefore { ext{List price}} = frac{{6810}}{{113.5}} imes 100 cr
& ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, = { ext{Rs}}{ ext{. }}6000 cr} $$

[#283] The ratio of cost price and selling price of an article is 20 : 21. The gain percent on it is = ?
Correct Answer

(B) 5

Explanation

Solution: According to the question, $$eqalign{
& frac{{{ ext{CP}}}}{{{ ext{SP}}}} = left. {frac{{20}}{{21}}}
ight) + 1 = { ext{Profit}} cr
& { ext{Profit }}\% = frac{1}{{20}} imes 100 cr
& ,,,,,,,,,,,,,,,,,,,,,, = 5\% cr} $$

[#284] Mr. Kapur purchased two toy cycles for Rs. 750 each. He sold these cycles, gaining 6% on one and losing 4% on the other. The gain or loss percent in the whole transaction is = ?
Correct Answer

(B) 1% gain

Explanation

Solution: $$eqalign{
& { ext{Total selling price}} cr
& = frac{{750 imes 100}}{{100}} + frac{{750 imes 96}}{{100}} cr
& = 795 + 720 cr
& = 1515 cr
& { ext{Profit}} = 1515 - 1500 cr
& ,,,,,,,,,,,,,,,, = { ext{Rs}}{ ext{. 15}} cr
& herefore { ext{Profit }}\% = frac{{15}}{{1500}} imes 100 cr
& ,,,,,,,,,,,,,,,,,,,,,,,,,,, = 1\% { ext{ gain}} cr} $$

[#285] The profit earned by a shopkeeper by selling a bucket at a gain of 8% is Rs. 28 more than when he sells it at a loss of 8%. The cost price (in Rupees) of the bucket is = ?
Correct Answer

(C) Rs. 175

Explanation

Solution: Let CP be 100 CP SP Case 1 → 100 108 Case 2 → 100 92 $$eqalign{
& Rightarrow left( {108 - 92}
ight){ ext{unit}} = { ext{Rs}}{ ext{.}},28 cr
& Rightarrow 16{ ext{unit}} = { ext{Rs}}{ ext{.}},28 cr
& Rightarrow 1{ ext{unit}} = frac{{28}}{{16}} cr
& herefore 100{ ext{unit}} = frac{{28}}{{16}} imes 100 cr
& ,,,,,,,,,,,,,,,,,,,,,,,,,,, = { ext{Rs}}{ ext{.}},175 cr
& { ext{Cost}},{ ext{Price}} = { ext{Rs}}{ ext{.}},175 cr} $$