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
Answer: Option D
Explanation :
SP = 1800 = 90% of CP = 90/100 × CP.
⇒ CP = 1800 × 100/90 = Rs. 2000.
Hence, option (d).
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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
Answer: Option C
Explanation :
CP = 80 × 100/80 = 100 Rs.
Hence, option (c).
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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
Answer: Option C
Explanation :
Selling Price of a watch = Rs. 480
Profit = 20%
Hence, SP = CP(1 + P/100)
⇒ 480 = CP(1 + 20/100)
⇒ Cost Price of the watch = Rs. 400
Now, If the selling price of the watch is Rs. 320
Then, Loss % = (400 - 320) × 100/400
⇒ Loss % = 20%
Hence, option (c).
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By selling oranges for 10 a Rs a man loses 10%. How many for a Rs. he should sell the oranges to gain 80%?
- (a)
9
- (b)
7
- (c)
12
- (d)
None of these
Answer: Option D
Explanation :
Selling price of 1 orange = Rs. 1/10
Loss % = 10%
Now, SP = CP(1 - L/100)
⇒ 1/10 = CP(1 - 10/100)
Therefore, Cost Price of 1 orange = Rs. 1/9
Now, if he had to gain 80% then,
SP = 1/9(1 + 80/100)
⇒ SP = 1/9 × 18/10
⇒ SP = Rs. 1/5
Hence, he should sell 5 oranges for a Rs. to gain 80%.
Hence, option (d).
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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
Answer: Option A
Explanation :
Let number of mangoes = 100
CP of 20 = 3 Rs.
∴ CP of 100 = 15 Rs
SP of 25 = 4 Rs
∴ SP of 100 = 16 Rs
∴ Profit =1/15 × 100 = 6.66%
Hence, option (a).
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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
Explanation :
Net percentage change = 30 - 30 - (30 × 30)/100
⇒ Net change = -302/100
⇒ There is a real loss of 9%.
Option B is the correct answer.
Hence, option (b).
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A man bought 2 oranges for Rs. 5 and sells at a rate of 3 for Rs. 7. His real loss % is
- (a)
- (b)
- (c)
- (d)
None of these
Answer: Option A
Explanation :
Let no. of orange = 6
CP of 2 = 5
∴ CP of 6 = 15
SP of 3 = 7
SP of 6 = 14
∴ Loss% = 1/15 × 100 =
Hence, option (a).
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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
Answer: Option B
Explanation :
SP of 8 = CP of 10 = CP of 8 + CP of 2
∴ Profit% =2/8 × 100 = 25%
Hence, option (b).
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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
Answer: Option B
Explanation :
SP of 10 = CP of 8 = CP of 10 – CP of 2
∴ loss % = 2/10 × 100 = 20%
Hence, option (b).
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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
Answer: Option C
Explanation :
SP of 45m - CP of 45m = CP of 15m
⇒ SP of 45m = CP of 45m + CP of 15m
⇒ Gain % = 15 × 100/45
Therefore, profit % = 33.33%
Hence, option C is the correct answer.
Hence, option (c).
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By selling 33m of a merchant gains the selling price of 11m. Find his real profit or loss%
- (a)
20% profit
- (b)
50% profit
- (c)
60% profit
- (d)
None of these
Answer: Option B
Explanation :
Selling Price = Cost Price + Profit
SP of 33 = CP of 33 + SP of 11
SP of 22 = CP of 33
∴ Profit% = 11/22 × 100 = 50%
Hence, option B is the correct answer.
Hence, option (b).
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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
Answer: Option A
Explanation :
Let the cost price be Rs. x
Hence, P% = x%
SP = CP(1 + P/100)
⇒ 75 = x(1 + x/100)
⇒ x = 50
Hence, cost price of the watch is Rs. 50
Hence, option (a).
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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
Answer: Option D
Explanation :
SP of 1st half = 400 × 105/100 = Rs. 420
SP of whole = 800 × 120/100 = Rs. 960
Therefore, Second half he should sell at = (540 – 400) × 100/400 = 140 × 100/400 = 35% profit.
Hence, option (d).
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A boy buys eggs at 18 for Rs. 16 and sells them at 22 for Rs. 20. Find his gain or loss percent?
- (a)
- (b)
- (c)
- (d)
Answer: Option B
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
=
=
= = =
Hence, option (b).
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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%
Answer: Option D
Explanation :
Recognize, for every 3 litre of milk purchased, 4 litres of mixture is sold.
CP for 3 litres milk = 3 × Rs. 2.40 = Rs. 7.20
SP for 4 litres mixture = 4 × Rs. 2.88 = Rs. 11.52
∴ Profit% = (11.52 - 7.20)/7.20 = 0.6 = 60%
Hence, option (d).
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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
Answer: Option B
Explanation :
Let cost price of A be (CP)A, of B be (CP)B and that of C be (CP)C.
Similarly, selling prices be designed as (SP)A ; (SP)B and (SP)C
If (CP)A = x
Then, (CP)B = (SP)A = 1.1 x
(CP)C = (SP)B = (1.2) (1.1) x = Rs. 924 ⇒ x = Rs. 700
Hence, option (b).
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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
Explanation :
Let CP = Rs. x and SP = Rs. 1.25 x
But it is given that, = 0.6
⇒ 0.25 x + 1.75 = 0.6 x – 1.05
⇒ x = Rs. 8
Hence, option (d).
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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
Answer: Option C
Explanation :
Let the CP’s of buffaloes be Rs. x and (1200 – x).
Then, it is given that 0.95 x + 1.07 (1200 – x) = 1200
⇒ 0.12x = 84
⇒ x = 700
∴ Cost of other buffalo = Rs. 500
Hence, option (c).
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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)
% loss
- (d)
% gain
Answer: Option A
Explanation :
Easiest way to solve such problems is to assume some simple values
Let 120 apples be purchased at Rs. 12/dozen
Thus, total cost of purchase = Rs. 12 × 10 dozen = Rs. 120
Now, SP = Rs. 96 apples/100
⇒ 96/100 × 120 = SP for 120 apples = Rs. 115.20
∴ Loss% = 4.8/120 × 100 = 4%
Hence, option (a).
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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
Answer: Option C
Explanation :
Let the (CP)Arun = x
Then, (SP)Arun = (CP)Babu = 1.1 x
(SP)Babu = (CP)Chander = Rs. 60.5 = (1.1) (1.1)x
⇒ x = 60.5/1.12 = Rs. 50
Hence, option (c).
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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
Answer: Option B
Explanation :
Let the manufacturers cost price be m. Then,
(SP)manufacturer = (CP)wholesaler = 1.2 m
(SP)wholesaler = (CP)retailer = (1.1) (1.2) m
(CP)retailer = (CP)customer = (1.1) (1.1) (1.2) m = Rs. 1452
⇒ 1.452m = 1452
m = 1452/1.452 = 1000
Hence, option (b).
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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
Answer: Option C
Explanation :
Let Manufacturer’s price be M. Then,
(SP)manufacturer = (CP)dealer = 1.1 m
(SP)dealer = (CP)customer = (1.125) (1.1) m
i.e. (1.125) (1.1) m = 990 ⇒ m = 800
∴ customer paid Rs. (990 – 800) = Rs. 190 above the manufacturer’s prize.
Hence, option (c).
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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
Explanation :
Let CP = Rs. x and SP = y
Then,
If SPnew = 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
= = = 75%
Hence, option (d).
Video Solution:
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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
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 = = = = -1 or 1% loss.
Hence, option (c).
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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%
Answer: Option C
Explanation :
Compute selling price of 1 m cloth = Rs. 225/480 = Rs. 15/32
Let CP of 1 m cloth be x. Hence, CP of 480 m = 480 x
Then gain = 72x
gain % = (72x)/(480x) × 100 = 15%
Hence, option (c).
Video Solution:
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