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Profit and Loss

Profit and Loss - Important Points


6.

A trader mixes 26 kg of sugar at Rs. 20 per kg with 30 kg of sugar 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%

Discuss Work Space

Answer: option b

Explanation:

C.P. of 56 kg rice = Rs. (26*20 + 30*36)
                            = Rs. (520 + 1080) 
                            = Rs. 1600
S.P. of 56 kg rice = Rs. (56*30) = Rs. 1680

Profit % = (80/1600)*100 = 5%


7.

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

A. 16

B. 18

C. 20

D. 22

Discuss Work Space

Answer: option b

Explanation:

SP of 1 toffee = 40/45 = 8/9
CP of 1 toffee*80% = 8/9 (due to 20% loss)
CP of 1 toffee     = (8/9)*(5/4)
CP of 1 toffee     = 10/9
SP of 1 toffee(for 20% gain) = 120% of (10/9)
                             = (6/5)*(10/9)
                             = 60/45 = 4/3
Number of toffees for Rs 24 = 24/(SP of 1 toffee)
                            = 24/(4/3)
                            = 18


8.

A man buys oranges at Rs 50 a dozen and an equal number at Rs 40 a dozen. He sells them at Rs 55 a dozen and makes a profit of Rs 500. How many oranges does he buy?

A. 30 dozens

B. 40 dozens

C. 50 dozens

D. 60 dozens

Discuss Work Space

Answer: option c

Explanation:

Cost Price of 2 dozen oranges Rs. (50 + 40) = Rs. 90
Selling price of 2 dozen oranges = Rs. 110
For profit of Rs 20, oranges bought = 2 dozen
SO, for profit of Rs. 500, oranges bought = (2/20) * 500 dozens = 50 dozens


9.

A person incurs a loss of 5% by selling a watch for Rs. 1140. At what price should he sell to earn 5% profit.

A. Rs.1200

B. Rs.1230

C. Rs.1260

D. Rs.1290

Discuss Work Space

Answer: option c

Explanation:

5% loss means the watch was sold at 95% of CP
  95% of CP = SP
(95/100)*CP = 1140
         CP = (1140 * 100)/95
            = 1200

Now, SP for 5% gain = CP*(105/100)
               = (1200*105)/100
               = 1260


10.

Due to reduction of 25% in price of lemons, a customer can purchase 4 lemons more for Rs. 16. what is original price of a lemon?

A. Re 1

B. Rs 1.33

C. Rs 1.5

D. Rs 1.6

Discuss Work Space

Answer: option b

Explanation:

Let x number of lemons were purchased earlier with Rs. 16.
Now, x + 4 lemons for Rs. 16.
Expenditure = Price * Consumption
          16 = p*x
          16 = (3/4)p*(x + 4)  [(3/4)p due to 25% reduction in p]
         p*x = (3/4)p*(x + 4)
           x = (3/4)*(x + 4)
           x = 3x/4 + 3
         x/4 = 3
           x = 12
Original Price = 16/12 = Rs. 1.33