Practice Questions for Arithmetic - Profit & Loss

1. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

By selling a TV Trolley for Rs 1800 a carpenter loses 10%. Find his cost price

(a)
Rs. 1600
(b)
Rs. 1608
(c)
Rs. 2100
(d)
None of these

2. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

SP of an article is Rs. 80 and loss is 20%. Find the cost price

(a)
Rs. 48
(b)
Rs. 12
(c)
Rs. 100
(d)
None of these

3. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

By selling a watch for Rs 480 a man gains 20%. Find what would have been his profit or loss percent of he had sold it for Rs. 320

(a)
Profit 10%
(b)
Loss 10%
(c)
Loss 20%
(d)
None of these

4. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

By selling oranges for 10 a Re. a man loses 10%. How many for a Re. he should sell the oranges to gain 80%?

(a)
9
(b)
7
(c)
12
(d)
None of these

5. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A fruit seller buys some mangoes at a rate of 20 for Rs. 3 and sells them at rate of 25 for Rs 4. Find his gain or loss%

(a)
6.66% profit
(b)
1% loss
(c)
1.23% loss
(d)
None of these

6. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

Two articles are sold at Rs. 1000 each. One at a profit of 30%, while other at a loss of 30%. Find real profit or loss%.

(a)
9% gain
(b)
9% loss
(c)
No profit no loss
(d)
None of these

Answer: Option B

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Explanation :

Here selling price of both articles is same i.e., Rs. 1000.
Total Selling Price = Rs. 2000.

One article is sold at 30% profit, hence its cost price = $\frac{1000}{1.3}$
Second article is sold at 30% loss, hence its cost price = $\frac{1000}{0.7}$
Total Cost Price = $\frac{1000}{1.3}$ + $\frac{1000}{0.7}$ = $\frac{2000}{0.91}$

∴ Required profit/loss % = $[\frac{SP}{CP} - 1] \times 100 %$
= $[\frac{2000}{2000 / 0.91} - 1] \times 100 %$
= [0.91 - 1] × 100%
= -9%

⇒ A loss of 9%.

Alternately,
If two articles are sold at same price such that one is sold at P% profit and another is sold at P% loss, overall there will be a loss of $\frac{P^{2}}{100} %$

Here, overall loss = $\frac{30^{2}}{100} %$ = 9%

Hence, option (b).

Note: You may be tempted to give answer as no profit no loss. That would have been true had the cost price of two articles were same. Here selling price of the two articles is same.

7. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A man bought 2 oranges for Rs. 5 and sells at a rate of 3 for Rs. 7. His real loss % is

(a)
$6 \frac{2}{3} %$
(b)
$7 \frac{1}{7} %$
(c)
$7 \frac{2}{7} %$
(d)
None of these

Answer: Option A

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Explanation :

Let no. of oranges = 6

CP of 2 = 5
∴ CP of 6 = 15

SP of 3 = 7
SP of 6 = 14

∴ Loss% = 1/15 × 100 = $6 \frac{2}{3} %$

Hence, option (a).

8. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

If selling price of 8 articles is equal to cost price of 10 articles. Find real profit or loss

(a)
20% profit
(b)
25% profit
(c)
30% profit
(d)
None of these

9. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

If selling price of 10 articles is equal to cost price of 8 articles. Find real profit or loss%

(a)
10% loss
(b)
20% loss
(c)
30% loss
(d)
None of these

10. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

By selling 45m of cloth a merchant gains the cost price of 15m. Find his real profit or loss%

(a)
20% profit
(b)
40% profit
(c)
33.33% profit
(d)
None of these

11. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

By selling 33 meters of a cloth, a merchant gains the selling price of 11 meters. Find his real profit or loss%

(a)
20% profit
(b)
50% profit
(c)
60% profit
(d)
None of these

12. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A man sold a watch for Rs 75 and got a profit percentage equals to cost price. Find Cost Price of the watch.

(a)
Rs. 50
(b)
Rs. 60
(c)
Rs. 90
(d)
None of these

13. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A man bought goods for Rs. 800 and sold half at a gain of 5%. Find at what % gain, he must sell the remaining so as to gain 20% on the whole?

(a)
25%
(b)
30%
(c)
40%
(d)
None of these

14. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A boy buys eggs at 18 for Rs. 16 and sells them at 22 for Rs. 20. Find his gain or loss percent?

(a)
$7 \frac{1}{11} %$
(b)
$2 \frac{3}{11} %$
(c)
$2 \frac{5}{11} %$
(d)
$7 \frac{2}{11} %$

Answer: Option B

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Explanation :

CP : 18 eggs for Rs. 16

⇒ 1 egg for Rs. 16/18

SP : 22 egg for Rs. 20

⇒ 1 egg for Rs. 20/22

= $[(\frac{20}{22} - \frac{16}{18}) / (\frac{16}{18})] \times 100$

= $[(\frac{180 - 176}{198}) / (\frac{16}{18})] \times 100$

= $\frac{4}{198} \times \frac{18}{16} \times 100$ = $\frac{1}{44} \times 100$ = $2 \frac{3}{11}$

Hence, option (b).

15. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A man buys milk at Rs. 2.40/litre. He adds one third water to it and sells the mixture at RS. 2.88/litre. Find his gain%?

(a)
50%
(b)
40%
(c)
35%
(d)
60%

16. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A buys an article and sells it to B at a profit of 10%, B sells it to C gaining 20%. If C gives Rs. 924, what did A give?

(a)
Rs. 725
(b)
Rs. 700
(c)
Rs. 650
(d)
Rs. 750

17. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A shopkeeper sold an article at a gain of 25%. If he had paid Rs. 1.75 less for it and sold it at the same price he would have made a gain of 60%. Find the cost price?

(a)
Rs. 17.50
(b)
Rs. 9.25
(c)
Rs. 12.50
(d)
Rs. 8

Answer: Option D

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Explanation :

Let CP = Rs. x and SP = Rs. 1.25 x

But it is given that, $\frac{1.25 x - (x - 1.75)}{x - 1.75}$ = 0.6

⇒ 0.25 x + 1.75 = 0.6 x – 1.05

⇒ x = Rs. 8

Hence, option (d).

18. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

I bought two buffaloes for Rs. 1200 and sold one to lose 5% and the other to gain 7% and on the whole I neither lost nor gained. What did each cost?

(a)
Rs. 400, Rs. 800
(b)
Rs. 600, Rs. 600
(c)
Rs. 700, Rs. 500
(d)
Rs. 900, Rs. 300

19. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A man buys apples at a certain price per dozen and sells them at eight times per hundred. What does he Gain or Loss %?

(a)
4% loss
(b)
4% gain
(c)
$6 \frac{1}{4}$ % loss
(d)
$6 \frac{1}{4}$ % gain

20. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

Arun sold an article to Babu at a profit of 10%. Babu sold it to Chander for Rs. 60.50 and also gained 10%. What did Arun pay for it?

(a)
Rs. 45.45
(b)
Rs. 55.00
(c)
Rs. 50.0
(d)
Rs. 56.50

21. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

The manufacturer of a machine sells it to a wholesaler at a profit of 20%. The wholesaler, in turn, sells it to a retailer at a gain of 10%. The retailer sells it to a customer for Rs. 1452 at a gain of 10%. The cost price of the machine for the manufacturer is:

(a)
Rs. 870
(b)
Rs. 1000
(c)
Rs. 1050
(d)
Rs. 1200

22. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A manufacturer sells goods to a dealer at 10% profit and the dealer to his customer at 12.5% profit. How much does a customer pay above the original cost of goods purchased by him for Rs. 990?

(a)
Rs. 150
(b)
Rs. 175
(c)
Rs. 190
(d)
Rs. 210

23. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

What percent profit is made by selling an article at a certain price if by selling it at half that price there would be a loss at 12.5%?

(a)
50%
(b)
37.5%
(c)
60%
(d)
75%

Answer: Option D

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Explanation :

Let CP = Rs. x and SP = y

Then,

If SP_new = 0.5 y, Loss% = (x - 0.5y)/x = 0.125 or x – 0.5y = 0.125x

or 0.875 x = 0.5 y ⇒ y = 0.875/0.5 x = 1.75 x

But when, CP = x, SP = y, profit % = (y - x)/x × 100

= $\frac{1.75 x - x}{x} \times 100$ = $\frac{0.75 x}{x} \times 100$ = 75%

Hence, option (d).

24. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

Oranges are bought at 11 for a rupee and an equal number more at 9 for a rupee. If they are sold at 10 for a rupee what is the gain or loss percent?

(a)
no loss, no gain
(b)
10% loss
(c)
1% loss
(d)
5% gain

Answer: Option C

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Explanation :

If x be the number of oranges at each of the prices, then,

Total purchase = x/11 + x/9 = (9x + 11x)/99 = 20x/99

Sales revenue = 2x/10 = x/5

% gain = $\frac{\frac{x}{5} - \frac{20 x}{99}}{\frac{20 x}{99}} \times 100$ = $\frac{\frac{99 x - 100 x}{495}}{\frac{20 x}{99}} \times 100$ = $\frac{- x}{495} \times \frac{99}{20 x} \times 100$ = -1 or 1% loss.

Hence, option (c).

25. CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

A person sold 480 meters of cloth for Rs. 225 gaining thereby the cost of 72 meters. Find his gain percent?

(a)
20%
(b)
18%
(c)
15%
(d)
12%

CRE 1 - Profit & Loss | Arithmetic - Profit & Loss

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