CRE 1 - Profit & Loss | Arithmetic - Profit & Loss
A table was sold for Rs. 119 at a percentage of profit equal to the cost price of the table. The cost price of the table is :
- (a)
Rs. 49
- (b)
Rs. 100
- (c)
Rs. 70
- (d)
Rs. 89
Answer: Option C
Explanation :
Let CP be Rs. x.
Then, (119 - x)/x × 100 = x
⇒ x2 = 11900 - 100x
⇒ x2 + 100x - 11900 = 0
⇒ x = = = Rs. 70
(-ve value has no meaning, hence discarded)
Hence, option (c).
Workspace:
Mohan sells 2 cars for Rs. 20000 each, neither gaining nor losing in the deal. If he sells one car at a loss of 20%, then the other car must have sold at a gain of
- (a)
32%
- (b)
23.5%
- (c)
25%
- (d)
33.33%
- (e)
None of these
Answer: Option D
Explanation :
Cost price of the car sold at 20% loss = 100 × SP/80 =100 × 20000/80 = 25000.
Now he has incurred a loss of Rs. 5000 on this.
Now as on the whole there is "no" net loss hence he must have gained Rs. 5000 in the second.
Selling price of the second product = 20000. Profit = Rs. 5000.
So Cost Price of the second product = 20000 - 5000 = 15000.
Percentage Profit = 100 × 5000 / 15000 = 33.33%.
Hence, option (d).
Workspace:
Two houses were sold for Rs. 130000 each, one at a loss of 30% and the other at a gain of 30%. The entire transaction resulted in
- (a)
no loss, no gain
- (b)
loss of 10%
- (c)
gain of 12%
- (d)
gain of 20%
- (e)
None of these
Answer: Option E
Explanation :
Since the two houses are sold for 130000 each, Now use P + Q + PQ/100
We get 30 – 30 + (-30 × 30)/100 = -9%. So there will be a loss of 9%.
Hence, option (e).
Workspace:
If the cost price of 15 magazines is the same as the selling price of 25 magazines, the loss percentage is
- (a)
35%
- (b)
28%
- (c)
32%
- (d)
40%
- (e)
None of these
Answer: Option D
Explanation :
SP of 25 magazines = CP of 15 magazines
SP of 25 = CP of 25 – CP of 10
Loss = 10/25 × 100 = 40%
Hence, option (d).
Workspace:
Kamal loses the selling price of 5 oranges on selling 40 oranges. His loss percentage is
- (a)
17.5%
- (b)
11.11%
- (c)
17%
- (d)
None of these
Answer: Option B
Explanation :
Let the cost price and sellling price of each orange be C and S respectively.
Loss = SP of 5 oranges on selling 40 oranges
⇒ 40(C - S) = 5S
⇒ 40C = 45S
⇒ S : C = 40 : 45
∴ Loss = 5/45 × 100 = 11.11%
Hence, option (b).
Workspace:
A man who makes a profit of 25% by selling sugar at Rs. 4.25/kg., lowers his price so as to gain only 17 paise per kg., In what ratio must his sales be increased so that his total profit may be the same as before?
- (a)
1 : 6
- (b)
1 : 5
- (c)
1 : 4
- (d)
1 : 3
Answer: Option B
Explanation :
Let CP of sugar be Rs. x/kg.
Then, = 0.25
⇒ 4.25 - x = 0.25x
⇒ 1.25x = 4.25
∴ x = 3.4
Old profit = 4.25 – 3.4 = 0.85
New Profit = 0.17
Hence, 0.85 : 0.17 :: old sales : new sales.
⇒ Hence,
Hence, option (b).
Workspace:
Cost of 4 bag = Cost of 6 books. Cost of 4 books = Cost of 8 pencils. Cost of 4 pencils = Cost of 3 magazines. If the magazine costs Rs. 96, what is the cost of the bag?
- (a)
Rs. 216
- (b)
Rs. 144
- (c)
Rs. 168
- (d)
Rs. 318
- (e)
None of these
Answer: Option A
Explanation :
4 Bags = 6 books, 4 books = 8 pencils, 4 pencils = 3 magazines, Magazine = Rs. 96
Pencil = 3/4 × 96 = Rs. 72
Book = 8/4 × 72 = Rs. 144
Bag = 6/4 × 144 = Rs. 216
Hence, option (a).
Workspace:
If chairs bought at prices ranging from Rs. 400 to Rs. 700, are sold at prices ranging from Rs. 500 to Rs. 950, then what can be the maximum possible profit per chair?
- (a)
Rs. 450
- (b)
Rs. 550
- (c)
Rs. 600
- (d)
Cannot be determined
- (e)
None of these
Answer: Option B
Explanation :
The maximum profit will be when C.P. is minimum and S.P. is maximum.
So maximum profit per chair = 950 – 400 = Rs. 550.
Hence, option (b).
Workspace:
The selling price of 20 articles is the same as the cost price of 30 articles. What is the profit percentage?
- (a)
45
- (b)
40
- (c)
16.67
- (d)
55
- (e)
None of these
Answer: Option E
Explanation :
CP of 30 articles = SP of 20 articles
SP of 20 = CP of 20 + CP of 10. Now SP = CP + Profit
So profit = 10/20 × 100 = 50%
Hence, option (e).
Workspace:
If the selling price of an article is 7/5 times its cost price, then the profit percent is
- (a)
33.33
- (b)
30
- (c)
40
- (d)
45
- (e)
None of these
Answer: Option C
Explanation :
If S.P. is 7/5 times of C.P.,
SP = 7/5 CP = CP + 2/5 CP = CP + Profit.
So the profit will be 2/5 of C.P.
Therefore, Profit percentage = 2/5 × 100 = 40%
Hence, option (c).
Workspace:
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