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

Q:

A dealer sold two of his cattle for Rs. 500 each. On one of them he lost 10% on the other, he gained 10%. His gain or loss percent in the entire transaction was:

A) 10% loss	B) 1% loss
C) 1% gain	D) Neither loss nor profit

Answer & Explanation Answer: B) 1% loss

Explanation:

Loss%= (common gain or loss % / 10)² = (10/10)² % = 1%.

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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 possibleprofit that might be made in selling eight books.

A) 800	B) 1200
C) 1600	D) 1800

Answer & Explanation Answer: D) 1800

Explanation:

least cost price = 200*8 = 1600
greatest sold price = 425 * 8 = 3400
profit required = 3400- 1600 = 1800

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8 5627

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 = $\frac{40 \times 120}{80}$ = 60

For Rs.60, lemons sold = 45

For Rs.24, lemons sold = $\frac{45}{60} \times 24$ = 18.

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Q:

By mixing two qualities of pulses in the ratio 2: 3 and selling the mixture at the rate of Rs 22 per kilogram, a shopkeeper makes a profit of 10 %. If the cost of the smaller quantity be Rs 14 per kg, the cost per kg of the larger quantity is:

A) Rs 23	B) Rs 25
C) Rs 24	D) Nonof these

Answer & Explanation Answer: C) Rs 24

Explanation:

Cost Price of 5 kg = Rs.(14*2 + x*3) = (28 + 3x).

Sell price of 5 kg = Rs. (22x5) = Rs. 110.

[{110 - (28 + 3x)}/(28 + 3x) ]* 100 =10

[82-3x/28 + 3x]= 1 / 10

820 - 30x = 28 +3x

33x = 792

x = 24

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58 18959

Q:

The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs 3. The ratio of two selling prices is

A) 51:52	B) 52:53
C) 53:54	D) 54:55

Answer & Explanation Answer: B) 52:53

Explanation:

Let the Cost price of article is Rs. x

Required ratio = (104% of x) / (106% of x)

=104/106

=52/53 = 52:53

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39 22501

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 % = $(\frac{{(100 + c o m m o n g a i n %)}^{2}}{100} - 100)$ %

= $(\frac{{(100 + 10)}^{2}}{100} - 100)$

= 21%

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568 103458

Q:

A man bought an article and sold it at a gain of 5 %. If he had bought it at 5% less and sold it for Re 1 less, he would have made a profit of 10%. The C.P. of the article was

A) Rs 100	B) Rs 150
C) Rs 200	D) Rs 250

Answer & Explanation Answer: C) Rs 200

Explanation:

Let original Cost price is x
Its Selling price = (105/100) * x = 21x/20
New Cost price = (95/100) * x = 19x/20
New Selling price = (110/100 )* (19x/20 )= 209x/200
[(21x/20) - (209x/200)] = 1
=> x = 200

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102 23440

Q:

If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is ?

A) 12%	B) 30%
C) 50%	D) 60%

Answer & Explanation Answer: C) 50%

Explanation:

Friends, we know we will need gain amount to get gain percent, right. So lets get gain first.

Let the cost price of 1 pen is Re 1

Cost of 8 pens = Rs 8

Selling price of 8 pens = 12

Gain = 12 - 8 = 4

Gain% = $(\frac{g a i n}{\cos t} \times 100)$ % = $(\frac{4}{8} \times 100)$ % = 50%

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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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