MATHS (SOLVED IN STEPS) PROFIT AND LOSS - (Page -5)

21. An item was sold for Rs.27.50 with a profit of 10%. If it was sold for Rs.25.75, what would have been the percentage of profit or loss?

A. 3% B. 2% C. 4% D. 5%

Answer : Option A

Explanation :

SP = 27.5

Profit = 10%

CP=[100÷ (100+Profit%)]×SP

=[100÷(100+10)]×27.5

=2750÷110=25

If the item was sold for Rs.25.75,

Gain%=[(25.75-25) ÷25]×100=[0.75÷25]×100=3%

22. Prasanth bought a car and paid 10 % less than the original price. He sold it with 30% profit on the price he had paid. What percentage of profit did he earn on the original price?

A. 17% B. 16% C. 18% D. 14%

Answer : Option A

Explanation :

Let the original price=100

Then the price at which he purchased (CP) =90% of

100=90

Profit=30%

SP=((100+Profit%)÷100)×CP

=[(100+30)÷100]×90

=[130÷100]×90=13×9=117

Required %=[(117-100) ÷100]×100=17%

23. If a seller reduces the selling price of an item from Rs.400 to Rs.380, his loss increases by 2%. What is the cost price of the item?

A. 1000 B. 800 C. 1200 D. 1100

Answer : Option A

Explanation :

Initial Loss% = {[ CP-400] ÷CP}×100

If the SP is reduced from 400 to 380, Loss% = [ (CP380)÷CP]×100

It is given that If the SP is reduced from 400 to 380,

Loss% increases by 2

⇒[(CP-380)÷CP]×100- {[ CP-400] ÷CP}×100=2

⇒(CP-380)-(CP-400)=2×[CP÷100]

⇒20=2×[CP÷100]

⇒CP=(20×100)÷2=1000

24. If selling price of an article is Rs. 250, profit percentage is 25%. Find the ratio of the cost price and the selling price

A. 5: 3 B. 3 : 5 C. 4 : 5 D. 5 : 4

Answer : Option C

Explanation :

SP = 250

Profit = 25%

CP=[100÷ (100+Profit%)]×SP

=[100÷ (100+25)]×250==[100÷125]×250=200

Required Ratio = 200 : 250 = 4:5

25. Sunil purchases two books at Rs.300 each. He sold one book 10% gain and other at 10% loss. What is the total loss or gain in percentage?

A. 10% gain B. 1% loss C. No loss or no gain D. 1% gain

Answer : Option C

Explanation :

CP of two books = 300 + 300 = 600

SP of two books

= 300×(110÷100)+300×(90÷100)=(300÷100)×(110+90)=3×200=600

Total SP = Total CP

Hence No loss or no gain
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