Profit and Loss with Explanation

Q1. By selling an item at a certain price, a merchant gains 20%. If he sells it at the double price, then the profit percentage will be?

Answer- Option D

Explanation-

Let C.P. of an item be Rs. x
Then, S.P. = Rs. (120% of x) =

Rs.

6x 5

New S.P. =

2

6x 5

=

Rs.

12x 5

Profit = Rs.

12x 5

-

x

=

Rs.

7x 5

Profit % =

7x 5

*

1 x

*

100

%

=

140%

Q2. The profit earned by selling 18 bicycles for Rs. 16,800 is equal to the cost price of 3 bicycles. What is the cost price of a bicycle?

Answer- Option A

Explanation-

(S.P. of 18 bicycles) - (C.P. of 18 bicycles) = (C.P. of 3 bicycles)
(C.P. of 18 bicycles) + (C.P. of 3 bicycles) = (S.P. of 18 bicycles)
(C.P. of 21 bicycles) = Rs. 16800
(C.P. of 1 bicycle) =

Rs.

16800 21

= Rs. 800

Q3. A fruit seller sold mangoes at a rate of 12 for Rs. 57 and bought at a rate of 8 for Rs. 34. In order to get a net profit of Rs. 45, how many mangoes should be sold?

Answer- Option C

Explanation-

C.P. of 1 mango = Rs.

34 8

=

Rs. 4.25

S.P. of 1 mango = Rs.

57 12

=

Rs. 4.75

Profit on each mango = Rs. 0.50
Number of mangoes required =

45 0.50

=

90

Q4. A retailer sold furniture at a discount of 5% and obtained a profit of 23.5%. What would be the profit percentage earned if no discount was offered?

Answer- Option B

Explanation-

Suppose C.P. of a furniture be Rs. 100. Then, S.P. = Rs. 123.50
Let marked price be Rs. x

95x 100

=

Rs. 123.50

x = Rs. 130
Now, S.P. = Rs. 130 and C.P. = Rs. 100
Profit % = 30%

Q5. Govind purchased 20 kg of pulses at a rate of Rs. 14.25 per kg and 30 kg of pulses at a rate of Rs. 11.50 per kg. He decided to mix the two and sold the mixture.To make a profit of 30%, what price per kg should he sell the mixture?

Answer- Option D

Explanation-

C.P. of 50 kg pulses = Rs. (20 x 14.25 + 30 x 11.50) = Rs. 630
S.P. of 50 kg pulses = 130% of Rs. 630 = Rs.

130 100

x 630 =

Rs. 819

S.P. per kg = Rs.

819 50

= Rs. 16.38

Q6. P sells a bike to Q at a profit of 20%. Q decides to sell it to R at a profit of 25%. If R pays Rs. 255 for it, find the cost price of the bike for P?

Answer- Option C

Explanation-

125% of 120% of A = 225

125 100

x

120 100

x A = 225

A =

225 x

2 3

=

150

Q7. A shopkeeper bought a bag full of toys at a rate of 7 for Rs. 9 and sold all of them at a rate of 8 for Rs.11. In this entire process, he gained Rs. 10. Can you find how many toys are there in the bag?

Answer- Option B

Explanation-

C.P. of a toy = Rs.

9 7

S.P. of a toy = Rs.

11 8

Profit =

11 8

-

9 7

=

5 56

Let number of toys be x

5x 56

=

10

x = 112