The ratio of selling price to the cost price is 21 | Profit and Loss Questions & Answers

Q:

A retailer buys product from a shopkeeper at discount of 40% on the list price (marked price) and sells them to the customer at a discount of 25% on the list price.What is his profit percentage ?

A) 10%	B) 15%
C) 20%	D) 25%

Answer & Explanation Answer: D) 25%

Explanation:

Let the list price be Rs.100.

Therefore, the retailer is buying the products at Rs.60 and selling it to the customer at Rs.75, earning a profit of Rs.15.

Therefore, his percentage is = $\frac{15}{60} x 100$ = 25%

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Q:

A shopkeeper sells one-third of his goods at a profit of 10%, another one-third at a profit of 20%, and the rest at a loss of 6%.What is his overall profit percentage ?

A) 6%	B) 8%
C) 10%	D) 12%

Answer & Explanation Answer: B) 8%

Explanation:

Let the shopkeeper buy 300g for Rs.300. Now he sells 100g for Rs.110, another 100g for Rs120, and the rest 100g for Rs94.

Therefore, the total amount he receives = Rs.110 + Rs.120 + Rs.94 = 324.

Therefore, the shopkeeper spends Rs.300 and gets back Rs.324.

Therefore, his profit percentage = $\frac{24}{300} x 100$ % = 8%

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Q:

By selling an article at Rs.800, a shopkeeper makes a profit of 25%.At what price should he sell the article so as to make a loss of 25%?

A) Rs.720	B) Rs.640
C) Rs.540	D) Rs.480

Answer & Explanation Answer: D) Rs.480

Explanation:

SP = Rs.800 ; Profit = 25%

$C P = S P x \frac{100}{100 + P %} = 800 x \frac{100}{100 + 25} = 640$

Now, CP = Rs.640

Loss = 25% = 25% of Rs.640 = Rs.160

Thus, SP = CP - Loss = Rs.640 - Rs.160 = Rs.480

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Q:

A Shopkeeper sells two articles at Rs.1000 each, making a profit of 20% on the first article and a loss of 20% on the second article. Find the net Profit or loss that he makes?

A) 4%	B) 5%
C) 6%	D) 8%

Answer & Explanation Answer: A) 4%

Explanation:

SP of first article = Rs.1000

Profit = 20%

$C P = S P x \frac{100}{100 + P %} = R s . \frac{2500}{3}$

SP of Second Article = Rs.1000

Loss = 20%

$C P = S P x \frac{100}{100 - L %} = R s . 1250$

So, Total SP = Rs.2000; Total CP = Rs.6250/3

As the CP is more than SP, he makes a loss.

Loss = CP - SP = (6250/3) - 2000 = Rs.(250/3)

So, Loss Percent = Lossx100/CP = 4%

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Q:

A milkman has 20 liters of milk. If he mixes 5 liters of water, which is freely available, in 20 liters of pure milk. If the cost of pure milk is Rs. 18 per litre, then the profit of the milkman, when he sells all the mixture at cost price, is:

A) 20%	B) 25%
C) 33.33%	D) 18%

Answer & Explanation Answer: B) 25%

Explanation:

When the water is freely available and all the water is sold at the price of the milk, then the water gives the profit on the cost of 20 litres of milk.

Since, the profit % = $\frac{P r o f i t}{C o s t P r i c e} x 100$

Therefore, profit percentage = $\frac{5}{20} x 100$ = 25%

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Q:

A car mechanic purchased four old cars for Rs. 1 lakh. He spent total 2 lakh in the maintenance and repairing of these four cars. what is the average sale price of the rest three cars to get 50% total profit if he has already sold one of the four cars at Rs. 1.2 lakh?

A) 1.5 lakh	B) 1.1 lakh
C) 1.2 lakh	D) 1.65 lakh

Answer & Explanation Answer: B) 1.1 lakh

Explanation:

Total cost of 4 cars = 1+2 = 3 lakh

Total S.P of 4 cars = 3 x 1.5 = 4.5 lakh ( $S i n c e S . P = \frac{(100 + G a i n %)}{100} x C . P$ )

S.P of 1 car = 1.2 lakh

S.P of rest 3 cars = 4.5 - 1.2 = 3.3 lakh

Average S.P of all the 3 cars = 1.1 lakh

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Q:

A, B and C invest in the ratio of 3 : 4: 5. The percentage of return on their investments are in the ratio of 6 : 5 : 4. Find the total earnings, If B earns Rs. 250 more than A :

A) Rs. 6000	B) Rs. 7250
C) Rs. 5000	D) None of these

Answer & Explanation Answer: B) Rs. 7250

Explanation:

A B C

investment 3x 4x 5x

Rate of return 6y% 5y% 4y%

Return $\frac{18 x y}{100} \frac{20 x y}{100} \frac{20 x y}{100}$

Total = (18+20+20) = $\frac{58 x y}{100}$

B's earnings - A's earnings = $\frac{2 x y}{100}$ = 250

Total earning = $\frac{58 x y}{100}$ = 7250

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Q:

Rahul went to purchase a Nokia mobile handset, the shopkeeper told him to pay 20% tax if he asked the bill. Rahul manages to get the discount of 5% on the actual saleprice of the mobile and he paid the shopkeeper Rs. 3325 without tax. Besides he manages to avoid to pay 20% tax on the already discounted price, what is the amount of discount that he has gotten?

A) 750	B) 375
C) 875	D) 525

Answer & Explanation Answer: C) 875

Explanation:

CP = 100, SP (with tax) =120

New SP = 100 - 5 = 95

Effective discount = 120 - 95 = 25

So, at SP of 95 ----> discount = 25

and at SP of 3325 -----> discount = $\frac{25}{95} \times 3325 = 875$

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A) 35.75	B) 21.75
C) 27.75	D) 31.25

The ratio of selling price to the cost price is 21 : 16. What is the profit percentage?

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