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

Q:

If the selling price of a mat is five times the discount offered and if the percentage of discount is equal to the percentage profit, find the ratio of the discount offered to the cost price.

A) 6:31	B) 11:30
C) 7:30	D) 31:6

Answer & Explanation Answer: C) 7:30

Explanation:

Since S.P. = 5 (M.P. - S.P.) => 5 M.P. = 6 S.P.
M.P. = (6/5) S.P.
Since the percentage discount = Percentage profit,
$\frac{\frac{6}{5} S . P - S . P}{\frac{6}{5} S . P} \times 100 = \frac{S . P - C . P}{C . P} \times 100$
Therefore, 1/6 = (S.P/C.P) – 1 => S.P = (7/6) C.P
M.P = 6/5 S.P = 6/5 x 7/6 C.P = 7/5 C.P
Therefore, Ratio of discount to C.P
= (M.P – S.P)/C.P = [{(7/5)C.P - (7/6)C.P} / C.P.]
= 7/30

Therefore, the ratio is 7 : 30

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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) 2%	B) 4%
C) 3%	D) 2.5%

Answer & Explanation Answer: B) 4%

Explanation:

SP of first article = 1000

Profit = 20%

CP = $\frac{100}{100 + P} \times S P$ = 5000/6 = 2500/3

SP of second article = 1000

Loss = 20%

CP = $\frac{100}{100 - L} \times S P$ = 5000/4 = 1250

Total SP = 2000

Total CP = $\frac{2500}{3}$ + 1250 = 6250/3

CP is more than SP, he makes a loss.

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

Loss Percent = $\frac{\frac{250}{3}}{\frac{6250}{3}} \times 100$ = 4%

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Q:

In a certain Business, the profit is 220% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit ?

A) 61%	B) 75%
C) 55%	D) 81%

Answer & Explanation Answer: A) 61%

Explanation:

Let C.P.= Rs. 100.

Then, Profit = Rs.220,

S.P. = Rs.320.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs.320.

Profit = Rs. (320 - 125) = Rs. 195

Required percentage = $\frac{195}{320} \times 100$ == 60.9 =~ 61%

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Q:

A trader mixes 36 kg of rice at Rs. 20 per kg with 14 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) 25%	B) 21.14%
C) 22.54%	D) 27.32%

Answer & Explanation Answer: C) 22.54%

Explanation:

C.P. of 50 kg rice = Rs. (36 x 20 + 14 x 36) = Rs. (720 + 504) = Rs.1224.

S.P. of 56 kg rice = Rs. (50 x 30) = Rs.1500.

Profit = 1500 - 1224 = Rs.276

Profit % = $\frac{P r o f i t}{C . P} \times 100$ = $\frac{276}{1224} \times 100$ = 22.54%.

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Q:

The cost price of 40 Magazines is the same as the selling price of 'P' articles. If the profit is 25%, then the value of 'P' is:

A) 32	B) 40
C) 16	D) 30

Answer & Explanation Answer: A) 32

Explanation:

Let C.P. of each Magazine be Rs. 1

C.P. of P articles = Rs. P.

S.P. of P articles = Rs. 40.

Profit = Rs. (40 - P)

Now, Gain% = $\frac{P r o f i t}{C . P} \times 100$ = $\frac{40 - P}{P} \times 100$

Here $\frac{40 - P}{P} \times 100$ = 25

-->P = 32.

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Q:

If the cost price of a certain object doubles, then the loss gets tripled of what it was initially. The initial loss % was ?

A) 0 %	B) 25 %
C) 75 %	D) 50 %

Answer & Explanation Answer: D) 50 %

Explanation:

Let the cost price be x and selling price be y.
Loss = x – y

When the cost price doubles, the loss gets tripled.
So it becomes like this, 2x – y = 3(x-y)

=> x = 2y

Loss % = (loss/ C.P) x 100 = [(2y-y)/2y] x 100= 50 %

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Q:

The profit earned by selling an article for Rs.753 is equal to the loss incurred when the same article is sold for Rs.455.What should be the sale price for making 50% profit ?

A) Rs.855	B) Rs.955
C) Rs.906	D) Rs.896

Answer & Explanation Answer: C) Rs.906

Explanation:

Let C.P =Rs. x

Then as given, (753 - x ) = (x - 455)

=>2x = 1208 => x = 604

There fore S.P= 150% of 604 => Rs. $\frac{150}{100} \times 604$ = Rs.906

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Q:

A women goes to market with Rs.500 to buy oranges.the prices of the oranges have decreased by 10% so he could buy 2kg more with the amount she had.What was the original price of the oranges ?

A) 22.77	B) 25.77
C) 27.77	D) 29.77

Answer & Explanation Answer: C) 27.77

Explanation:

If the price of the oranges decreases by 10%, the woman would save 10% of the money that is Rs.50 to buy the same amount as before.Now in Rs. 50 she can buy 2 kg more, therefore the current price of 1 kg of oranges is Rs25.Now, this current price is after 10% reduction.

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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