Problems on profit and loss: 21) The marked price of a radio is Rs 480. The owner allows a discount of 10% and still earns the profit of 8%. If no discount is allowed, find his gain percent?

25% 12% 15% 20% View Answer

Answer: D

Explanation:

Marked price= 480 The shopkeeper allows a discount of 10%, so, the Selling price will be= 480 * 90/100 = 432.

And the profit is 8%.

Apply formula:

C.P = (100/ (100 + p %))* S.P

C.P = (100/108) * 432 C.P = 400

If the discount is not allowed: Let Profit= P%

S.P = Marked price = 480, and C.P = 400 Profit = S.P – C.P

Now, apply formula:

P% = (Profit/C.P) * 100

So, gain % = ((480-400)/ 400) * 100 = 80/4 = 20%

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22) 5% more is gained by selling a cow for Rs 1010 than by selling it for Rs 1000. What is the C.P of the cow?

Rs 100 Rs 150 Rs 200 Rs 250 View Answer

Answer: C

Explanation:

ATQ, the difference between profit % = 5 The difference between S.P = 10

Apply formula:

C.P = (100* Difference between S.P)/ (% difference in profit)

Hence, the C.P = (100 * 10)/ 5 = 200.

The difference between profit = 5% Let the C.P = x And S.P2= 1010, S.P1 = 1000

i.e., P2 % – P1% = 5……………………………………………. (i)

Apply formula of percent

P% = (Profit/C.P) * 100

And profit = S.P – C.P.

Now according to equation (i)

((S.P 2- x)/ x)*100 – ((S.P 1- x)/ x)*100 = 5

((1010- x)/ x)*100 – ((1000- x)/ x)*100 = 5

Or, take (100/x) as common from the whole equation.

i.e., (100/x) [(1010-x) – (1000-x)] = 5

(100/x) [1010 – x – 1000 + x] = 5

Or, (100/x) * 10 = 5

Or, 5x = 1000 Hence, x = 200, or C.P = Rs 200.

23) A dishonest milkman sells milk at cost price, but he mixes water and earns 16(2/3) % profit. Find the ratio of mixture and milk in the mixture.

7: 5 7: 6 7: 7 7: 8 View Answer

Answer: D

Explanation:

Solution 1:

Let C.P of 1-litre milk = 10 Brought milk = x liters Then C.P = 10x Let water mixed in milk = y liter Then quantity of mixture = (x+y) liter

Mixture is sold on C.P Then S.P = 10(x + y) = 10x + 10y

The profit = S.P- C.P = (10x + 10y) – 10x = 10y Profit % = (10y/10x)*100 = 16(2/3) %

Or, y/x = (50/3)*(1/100) Or, y/x = (50/300) Or, y/x = (1/6) So, mixture = x+y = 6+1 = 7 Then, (mixture/milk) = 7/6 or 7:6

Apply formula:

Solution 2:

16(2/3) % profit = (50/3)*(1/100) = 1/6 i.e., +1>water 6> milk That means if the total mixture is 6+1 = 7 Then milk = 6 Mixture: milk = 7: 6

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24) Ayaan bought 30 kg of rice at the rate of Rs 9.50/ kg and 40 kg rice at the rate of Rs 8.50/kg and mixed them. He sold the mixture at the rate of Rs. 8.90/kg. Find his total profit or loss in the transaction.

Rs 2 loss Rs 5 profit Rs 2 profit Rs 7 loss View Answer

Answer: A

Explanation:

The total cost price = 30* 9.5 + 40* 8.5 = 625 The total selling price = 8.9(30+40) = 623

cost price> selling price = Loss Hence, the total loss in this transaction = 625-623= Rs 2

25) If a retail seller buys 30 pencils at the marked price of 27 pens, find the profit percent.

11(1/9)% 9(1/11)% 10% 20% View Answer

Answer: A

Explanation:

ATQ, if the retailer seller purchase 27 pens, he have gained 3 pens extra i.e., profit = 3 pens, and C.P = 27Apply profit % formula:

P% = (profit/C.P) * 100

P% = (3/27) * 100 = 100/9 So, the Profit % = 11(1/9) %.