MATHS (SOLVED IN STEPS) PROFIT AND LOSS - (Page -4)

16. By selling an item for Rs.15, a trader loses one sixteenth of what it costs him. The cost price of the item is

A. Rs.14 B. Rs.15 C. Rs.16 D. Rs.17

Answer : Option C

Explanation :

SP=15

Loss=CP÷16

Loss=CP-SP=CP-15

⇒(CP÷16)=CP-15

⇒(15 CP÷16)=15

⇒(CP÷16)=1

⇒CP=16

17. A fruit seller sells apples at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%?

A. 11.32 B. 11 C. 12 D. 11.81

Answer : Option D

Explanation :

SP=9

Loss=20%

CP={100÷ (100-Loss%)}×SP={100÷ (10020)}×9={100÷80}×9=(5÷4)×9

To make a profit of 5%,

SP={(100+Gain%)÷100}×CP=[(100+5)

÷100]×CP

=(105÷100)×((5÷4)×9)=

=((21÷20)×(5÷4)×9)= 11.81

18. A trader gives 12% additional discount on the discounted price, after giving an initial discount of 20% on the labeled price of an item. The final sale price of the item is Rs.704. Find out the labeled price?

A. 1000 B. 2000 C. 1200 D. 920

Answer : Option A

Explanation :

Let the labeled price=x

SP=704

Initial Discount=20%

Price after initial discount=x×(80÷100)

Additional discount=12%

Price after additional discount=x×(80÷100)×(88÷100)

But Price after additional discount=SP=704

⇒x×(80÷100)×(88÷100)=704

⇒x×(4÷5)×(22÷25)=704

⇒x=704×(25÷22)×(5÷4)= 1000

19. John purchased a machine for Rs. 80,000. After spending Rs.5000 on repair and Rs.1000 on transport he sold it with 25% profit. What price did he sell the machine?

A. Rs.107000 B. Rs.107500 C. Rs.108500 D. None of these

Answer : Option B

Explanation :

CP=80,000+5000+1000=86000

Profit=25%

SP=[(100+Gain%)÷100]×CP

=[(100+25)÷100]×86000

=(125÷100)×86000

=(5÷4)×86000=5×21500=107500

20. A shopkeeper sells his goods at cost price but uses a weight of 800 gm instead of kilogram weight. What is his profit percentage?

A. 18% B. 40% C. 25% D. 20%

Answer : Option C

Explanation :

If a trader professes to sell his goods at cost price, but uses false weights, then

Gain%=[(Error÷ (True Value-Error))×100]%

So here profit percentage=[(200÷ (1000200))×100]%

=[(200÷800)×100]%=25%
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