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

77 15391
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

250 8951
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

96 8921
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

92 8182
Q:

If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425, what is the greatest possible profit that might be made in selling eight books ?

A) 600 B) 1200
C) 1800 D) none of these
 
Answer & Explanation Answer: C) 1800

Explanation:

Least Cost Price = Rs. (200 * 8) = Rs. 1600.

Greatest Selling Price = Rs. (425 * 8) = Rs. 3400.

Required profit = Rs. (3400 - 1600) = Rs. 1800.

Report Error

View Answer Workspace Report Error Discuss

137 6355