Profit And Loss - Study Mode

[#336] A shopkeeper sold an article offering a discount of 5% and earned a profit of 23.5% . What would have been the percentage of profit earned if no discount was offered ?
Correct Answer

(C) 30%

Explanation

Solution: Let cost price be Rs. 100 Then, Selling Price = Rs. 123.50 Let marked price be Rs. x Then, $$eqalign{
& frac{{95}}{{100}}x = 123.50 cr
& Rightarrow x = { ext{Rs}}{ ext{.}}left( {frac{{12350}}{{95}}}
ight) cr
& Rightarrow x = { ext{Rs}}{ ext{.130}} cr} $$ Now, selling price = Rs. 130 Cost price = Rs. 100 ∴ Profit % = 30%

[#337] A dishonest shopkeeper professes to sell goods at his cost price but uses a false weight of 950 gms, for each kilogram. His gain percentage is = ?
Correct Answer

(D) $$frac{{100}}{{19}}\% $$

Explanation

Solution: In this type of question we can find the profit % by $$eqalign{
& { ext{ = }}frac{{{ ext{Less quantity}}}}{{{ ext{Quantity given to customer}}}} cr
& { ext{According to the question,}} cr
& { ext{Less quantity}} = left( {1000 - 950}
ight) cr
& ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, = 50 cr
& { ext{Quantity given to customer}} = 950 cr
& { ext{Profit }}\% = frac{{50}}{{950}} imes 100 cr
& ,,,,,,,,,,,,,,,,,,,,,,, = frac{{100}}{{19}}\% cr} $$

[#338] The selling price of 6 bananas is equal to the cost price of 8 bananas. Then the percentage of profit is = ?
Correct Answer

(B) $$33frac{1}{3}$$%

Explanation

Solution: 6 selling price = 8 cost price $$eqalign{
& frac{{{ ext{SP}}}}{{{ ext{CP}}}} = left. {frac{4}{3}}
ight)1 o { ext{Profit}} cr
& { ext{Profit}} = { ext{1}} cr
& { ext{Profit }}\% = frac{1}{3} imes 100 cr
& ,,,,,,,,,,,,,,,,,,,,,,, = 33frac{1}{3}\% cr} $$

[#339] A fan listed at Rs. 150 with a discount of 20%. What additional discount must be offered to the customer to bring the net price to Rs. 108 ?
Correct Answer

(D) None of these

Explanation

Solution: Selling price after given 20% discount $$eqalign{
& = 150 imes frac{{left( {100 - 20}
ight)}}{{100}} cr
& = 120 cr
& { ext{So,}} cr
& Rightarrow 120 imes frac{x}{{100}} = 108 cr
& Rightarrow x = 90 cr} $$ ∴ Required additional discount = (100 - 90)% = 10%

[#340] A merchant marks his goods at 25% above the cost price. Due to a slump in the market, his cost reduces by 5%. He thus offers a discount of 8% due to which the sales go up by 25%. Compute the change in the merchant's profit = ?
Correct Answer

(D) Unchanged

Explanation

Solution: Let the cost price of each article be Rs. 100 and the number of pieces sold be x Then, original selling price = Rs. 125 Original profit = Rs. [(125 - 100)x] = Rs. 25x $$eqalign{
& { ext{New selling price}} cr
& = 92\% { ext{ of Rs}}{ ext{. 125}} cr
& = { ext{Rs}}{ ext{.}}left( {frac{{92}}{{100}} imes 125}
ight) cr
& { ext{Rs}}{ ext{.}} = { ext{115}} cr} $$ Number of articles sold now = 1.25x New profit = Rs. [1.25x (115 - 95)] = Rs. 25x Hence, the profit remains unchanged.