Profit and Loss Questions

Q.1) Marked price of a table is Rs 960. The shopkeeper offered the discount of 20% and gain 28%. If no discount is allowed, find his gain percentage?

a) 62%

b) 60%

c) 43%

d) 20%

e) 40%

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MP= Rs960 discount= 20%

SP= 960×80/100=768

CP= 768×100/128=600

Required %=(960-600)/600= 60%

Q.2) GRT offers the following discount scheme for buyers on a gold coin

Scheme 1-two successive discount of 12%

Scheme 2-a discount of 14% followed by a discount of 11%

Scheme 3-two successive discount of 15% and 5%

Scheme 4- discount of 20%

Scheme 5- successive discount of 15% and 20%

The selling price will be minimum under which scheme?

a) Scheme 1

b) Scheme 2

c) Scheme 3

d) Scheme 4

e) Scheme 5

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Equivalent single discount for all schemes

scheme 1=12+12-(12×12/100)=22.56%

scheme 2=14+11-(14×11/100)=23.46%

scheme 3=15+5-(15×5/100)=19.25%

scheme 4=20%

scheme 5=15+20-(15×20/100)=32%

Q.3) In order that there may be a profit of 30% after allowing a discount of 20% on the marked price, The cost price of an article has to be increased by what percentage?

a) 62 %

b) 62%

c) 64 2/5%

d) 68 1/2%

e) 70 2/3%

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MP= Rs x

X×(100-20)/100=80/100 X=4/5 X

CP=4/5 X×100/130=8/13X

CP has to increased by

(X-8/13 X)/(8/13 X)×100=62 1/2%

Q.4) What is the maximum percentage discount (approximately) that a merchant can offer on his marked price, so that he ends up selling at no profit or loss, if he initially marked his goods up by 40%?

a) 60%

b) 28.5%

c) 33.4%

d) 43.90%

e) 50%

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Let cost price = Rs 100

An marked price= Rs 100+40=Rs 140

Required discount be x%





Q.5) A Shopkeeper sells laptops at the rate of Rs 457 each and earns the commission of 4%. He also sells Mobile phones at the rate of Rs 80 each and earns a commission of 20%. How much amount of commission will he earn in two weeks if he sells 10 laptops and 6 mobile phones per day?

a) Rs 270.0

b) Rs 298.7

c) Rs 382.1

d) Rs 399.8

e) None of these

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SP of laptop= Rs 457

Commission on one laptop=(4×457)/100

Commission on 10 laptops=(4×457×10)/100=Rs 182.80

SP of mobile= Rs 80

Commission on one mobile=(8×20)/100

Commission on 6 mobiles=(8×20×6)/100=Rs 96.00

Total commission on one day= (Rs 182.8+96) = 278.80

The amount of commission will he earn in two weeks = 278.8 ×14 = Rs.3903.2

Q.6) When a producer allows 36% commission on the retail price of his product he earns a profit of 8.8%. What would be his profit percent if the commission is reduced by 12%?

a) 48.1%

b) 49.6%

c) 47.23%

d) 50.28%

e) Can’t b determined

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Let retail price= Rs 100

Commission= Rs 36


Profit= 8.8%

CP=100/108.8×64=Rs  1000/17

New commission= RS 12

New SP=100-12=Rs 88


gain %=496/17×17/1000×100=49.6%

Q.7) Chandru likes Diary milk chocolate very much so he bought some number of chocolate at Rs 4 and the same number of chocolate at Rs 5. He mixes them and sells them at Rs 4. What is his gain or loss percent?

a) 12 1/9%

b) 12 2/9%

c) 11 1/9%

d) 10 1/9%

e) None of these

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CP of 1 chocolate for 1st rate=Rs  1/4

CP of 1 chocolate for 2st rate=Rs  1/5

CP of 2 chocolate after mixing =  1/4+1/5=9/20

CP of 1 chocolate after mixing =  9/(20×2)=Rs  9/40

SP of 1 chocolate after mixing= Rs  1/4


gain %=1/40×40/9×100=11 1/9%

Q.8) Selma buys a note book for Rs 150. If the over head expenses be 12% of the cost price, at what price should it be sold to gain 10 % (in Rs)?

a) 184.8

b) 185.8

c) 187.8

d) 188.8

e) None of these

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Total CP = (CP+ overhead expenses)

=150+12% of 150=Rs 168

Gain= 10%

SP=110/100×168=Rs 184.80

Q.9)  Vijay sells a book at the rate of Rs 300 each which includes a profit of 20%. What amount of profit will he earn in 18 days, if he sells seven books per day (in Rs)?

a) 6500

b) 6300

c) 7600

d) 6800

e) 7300

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Cost Price of One Book= 300(100/120) =300×5/6=Rs.250

Total amount of CP= 18×7×250=Rs 31500

Total amount of SP = 18×7 ×300 = 37800

Required profit = 37800- 31500 = Rs.6300

Q.10) The profit earned by selling an article for Rs 1632 is equal to the loss incurred when the same article is sold for Rs 128 what should be the sale price for making 50% of profit (in Rs)?

a) 1320

b) 1300

c) 1220

d) 1420

e) 1230

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CP=Rs x



X=Rs 880

SP= 150% of 880=Rs 1320

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