Profit and Loss Questions

Q:

A milkman purchases the milk at Rs. x per litre and sells it at Rs. 2x per litre still he mixes 2 litres water with every 6 litres of pure milk. What is the profit percentage?

A) 116% B) 166.66%
C) 60% D) 100%
 
Answer & Explanation Answer: B) 166.66%

Explanation:

Let the cost price of 1 litre pure milk be Re.1, then 

\inline \begin{Bmatrix} 6 & litres(milk) & \rightarrow & CP=Rs.6\\ 2 & litres(water) & \rightarrow & CP=Rs.0 \end{Bmatrix}\rightarrow CP=Rs.6 only

and 8 litre mixture  \rightarrow SP \rightarrow 8 x 2 = Rs.16

Profit %= %

Report Error

View Answer Workspace Report Error Discuss

118 17797
Q:

A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:

A) No profit, no loss B) 5%
C) 8% D) 10%
 
Answer & Explanation Answer: B) 5%

Explanation:

C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.

S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.

Gain ={\color{Black} \left ( \frac{80}{1600} \times 100\right ) }% = 5%

Report Error

View Answer Workspace Report Error Discuss

111 15086
Q:

By selling 45 lemons for Rs 40, a man loses 20 %. How many should he sell for Rs 24 to gain 20 % in the transaction ?

A) 16 B) 18
C) 20 D) 22
 
Answer & Explanation Answer: B) 18

Explanation:

Let S.P. of 45 lemons be Rs. x.

Then, 80 : 40 = 120 : x or   x = = 60

For Rs.60, lemons sold = 45

For Rs.24, lemons sold  == 18.

Report Error

View Answer Workspace Report Error Discuss

124 14354
Q:

A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain is.

A) 20% B) 21%
C) 22% D) 23%
 
Answer & Explanation Answer: B) 21%

Explanation:

Gain % = \inline \fn_jvn {\color{Black} (\frac{(100+common\; gain\; percent)^{2}}{100}-100)}%

            = \inline \fn_jvn {\color{Black} (\frac{(100+10)^{2}}{100}-100)}%

            = \inline \fn_jvn {\color{Black} (\frac{12100-10000}{100})}%

            = 21%

Report Error

View Answer Workspace Report Error Discuss

60 11216
Q:

The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

A) 15 B) 16
C) 18 D) 25
 
Answer & Explanation Answer: B) 16

Explanation:

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.

S.P. of x articles = Rs. 20.

Profit = Rs. (20 - x).

{\color{Black} \therefore \left ( \frac{20-x}{x}\times 100=25 \right )}

2000 - 100x = 25x

125x=2000

x=16

Report Error

View Answer Workspace Report Error Discuss

264 10948