1 Aravind buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, what is his gain percent?
A. 12% B. 10% C. 44.7% D. 5.45 %
Answer : Option D
Explanation :
Cost Price (CP) = 4700 + 800 = Rs. 5500
Selling Price (SP) = Rs. 5800.
Gain = (SP) - (CP) = 5800 - 5500= Rs. 300.
Gain%
= (GainCP)×100
= (300÷5500)×100
= 300÷55
= 60÷11
= 5.45
2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find out the value of x
A. 15 B. 25 C. 18 D. 16
Answer : Option D
Explanation :
Let the Cost Price (CP) of one article = 1
=> CP of x articles = x ------------------------------( 1)
CP of 20 articles = 20
Given that cost price of 20 articles is the same as the selling price of x articles
=> Selling price (SP) of x articles = 20--------------( 2)
Given that Profit = 25%
(SP-CP)÷CP
=25÷100=1/4------------( 3)
Substituting equations 1 and 2 in equation 3,
⇒(20-x) ÷x = 1/4
⇒80-4x=x
⇒ 5x=80
⇒ x=80÷5
=16
3. If selling price is doubled, the profit triples. What is the profit percent?
A. 100 B. 105.33 C. 66.66 D. 120
Answer : Option A
Explanation :
Let the CP = x , SP = y
profit = SP –CP = y-x
If SP is doubled, SP = 2y
Now Profit = SP –CP = 2y - x
Given that If selling price is doubled, the profit triples
⇒2y–x=3(y-x)
⇒2y–x=3y-3x
⇒y=2x
⇒Profit%=(Profit÷CP)×100
=((y-x)÷x)×100
=((2x–x)÷x)×100
=(x÷x)×100=100%
4. In a shop, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, find out approximately what percentage of the selling price is the profit?
A. 250% B. 100% C. 70% D. 30%
Answer : Option C
Explanation :
Let the CP = 100
Profit=(320÷100)×100
=320
SP=CP+Profit=100+320=420
If the cost increases by 25%,
New CP=(125÷100)×100=125
Selling Price is constant, hence New SP=420
Profit=SP–CP=420–125=295
Required Percentage =(295÷420)×100
=2950÷42
=70(approximately)
5 sebastian bought bananas at 6 for a rupee. How many for a rupee must he sell to gain 20%?
A. 3 B. 4 C. 5 D. 6
Answer : Option C
Explanation :
CP of 6 bananas = 1
Gain = 20%
SP of 6 bananas=1×(120÷100)
=12÷10
⇒The number of bananas he should sell for Rs.1 for
a gain of 20%
=(10÷12)×6
=10÷2=5
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