Q.1. A dealer paid a car manufacturer Rs. 1,35,000 for a car. What should be the selling price of the car, if after allowing a buyer 10 % discount on the selling price, he made a profit of 8 % on his outlay?
Sol : Option C
profit and loss formula
Let SP of the car = x.
Discount of 10%. Profit = 8%.
∴ ((90/100)x - 135000/135000)×100 = 8
⇒ (90/100)x - 135000 = 8×1350 ⇒ (90/100)x ⇒ x = 162000
Q.2. A merchant supplied a dealer with goods at a profit of 10 %. The dealer however became bankrupt and could pay only 72 p. in the rupee. How much percent did the merchant lose?
A. 20.8 %
B. 15.6 %
C. 25.4 %
D. 16.50 %
E. 17%
Sol : Option A
CP = 100. Profit = 10%. SP = 110. The dealer could pay only 72 paisa in the rupee. ∴Net amount paid to merchant by the dealer would be = 0.72 × 110 = Rs 79.2. Now as the merchant has sold Rs. 100 item to the dealer at Rs. 79.2, hence the net loss to the merchant would be = 100 – 79.2 = 20.8%.
Q.3. A man purchases two pens for Rs. 740. He sells one at 12 % profit and the other at a 8 % loss. Then he neither gains nor loses. Find the cost price of each pen (in Rs.).
A. 324, 416
B. 296, 444
C. 288, 452
D. 365, 375
E. 272, 468
Sol : Option B
CP of 2 pens = 740. Let CP of 1st pen is x and CP of 2nd pen is y.
Since there is no profit and loss in the whole transaction, so 12% of x = 8% of y
⇒x: y = 2: 3
Hence the cost of first pen = (2/3)×740 = Rs296 and that of the second pen = (3/5)×740 = Rs444
Q.4. A man sells a TV set for Rs. 4,800 and makes a profit of 20 %. He sells another TV at a loss of 16 %. If on the whole, he neither gains nor loses, find the selling price of the second TV set.
A. Rs. 3,800
B. Rs. 4,400
C. Rs. 4,200
D. Rs. 4,600
E. Rs. 3,500
Sol : Option C
SP of first TV = Rs. 4800, the CP of first TV = 4800 × 100/120 = Rs 4000, so the profit earned is Rs. 800. Now he must get a loss of Rs. 800 by selling second TV as he neither gaining nor losing on the whole. Now Rs. 800 must be 16% of the CP of the second TV i.e. 800 × 100/16 = Rs. 5000, but the question is asking the SP of the second TV, which will be 5000 – 800 = Rs. 4200.
Q.5. Parveen bought 80 kg of rice for Rs. 760 and sold it at a loss of as much money as he received for 15 kg rice. At which price did he sell the rice?
A. Rs. 9 / kg
B. Rs. 8 / kg
C. Rs. 8.5 / kg
D. Rs. 10 / kg
E. Rs. 10.6 / kg
Sol : Option B
Let the SP per kg be Rs. x. Total sales = Rs 80x and total loss will be 15x
(i.e. the selling price of 15 kg.). Total Cost Price = Rs. 760.
Now SP + Loss = Cost Price ⇒ 80x + 15x = 760 ⇒ 95x = 760
⇒ x = 760/95 = Rs 8.
Q.6. After selling a watch, Mihir found that he had made a loss of 12 %. He also found that had he sold it for Rs. 45 more, he would have made a profit of 8 %. The actual initial loss was what percentage of the profit earned, had he sold the watch for 8 % profit?
A. 66.67 %
B. 145 %
C. 150 %
D. 160 %
E. 180%
Sol : Option C
As profit and loss are calculated of the same figure i.e. the cost price.
Hence you can straightaway find 12% is what percent of 8% i.e. 100 × 12/8 =150%.
Q.7. The profit earned when an article is sold for Rs. 1050 is 14 times the loss incurred when it is sold for Rs. 375. At what price should the article be sold if it is desired to make a profit of 20 %?
A. Rs. 410
B. Rs. 420
C. Rs. 504
D. Rs. 475
E. Rs. 495
Sol : Option C
If L represents the loss, then 14 L represents the profit and the sum of the two is difference of the two selling prices. Hence 15L = 1050 – 375 = Rs 675 ⇒ L = 675/15 = Rs45 Since the second SP = Rs 375, so the CP = 375 + 45 = 420. The SP to have 20% profit is 420 × 1.2 = Rs. 504
Q8. A man sells an article at a profit of 8 per cent. If the cost price were 10 per cent less and the selling price Rs. 18 less, his profit would have been 15 per cent. Find the cost price of the article.
A. Rs. 430
B. Rs. 450
C. Rs. 220
D. Rs. 380
E. Rs. 400
Sol : Option E
Let CP of the article = 100 ∴ Old SP = 108. New CP = 90. As the profit is 15%, so the new SP = 90 × 115/100 = 103.5. The difference in the two selling prices = 108 – 103.5 = Rs 4.5 If difference in SP is 4.5 then CP = 100, If difference in SP is 18 then CP = (100/4.5)×18 = Rs 400
Q9. A dishonest dealer professes to sell his goods at a profit of 15 percent and also weighs 833.33 grams in place of a kg. Find his actual gain percent.
A. 32 % gain
B. 38% gain
C. 42 % gain
D. No gain no loss
E. 40 % gain
Sol : Option B
Uses 833.33 gms instead of 1000 gms
∴ % profit = (1000-833.33/833.33) × 100 = 20%
Shopkeeper also states that he makes a gain of 15%. There will be a mutual impact of the two as well. So the formula that can be applied is x + y + xy/100. Applying that you get the answer as 20 + 15 + (20)(15)/100 = 38%
Q10. A tradesman sells his goods at a price 20 % above what they cost him. If his overhead expenses are Rs. 33,200 per annum, what must be his annual receipts on the goods sold, so that 10 % of his receipts may be net profit?
A. Rs. 4,32,000
B. Rs. 4,50,000
C. Rs. 4,98,000
D. Rs. 6,62,000
E. Rs. 5,41,000
Sol : Option C
Let CP = 100 ∴ SP = 120. 10% of 120 = 120 × (10/100) = Rs 12
∴ Real CP = 120 – 12 = 108. Here the difference between the CP and real CP can be taken as overheads = 108 – 100 = Rs 8. Now apply unitary method to find the answer i.e. If overheads is 8 then SP = 120
∴ If overheads is 33200, then SP = (120/8) × 33220 = Rs 498000