Practice Questions for Arithmetic - Profit & Loss

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

On selling 15 mangoes, a fruit-seller gains a profit equal to the selling price of 3 mangoes. What is his profit percentage?

(a)
10%
(b)
16%
(c)
20%
(d)
25%

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

By selling 12 articles, a shopkeeper gains a profit equal to the cost price of 2 articles. What is his profit percentage?

(a)
16.66%
(b)
17.14%
(c)
18.28%
(d)
20.33%
(e)
None of these

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

The percentage of profit made when an article is sold for Rs. 81 is thrice as when it is sold for Rs. 67. The cost price of the article is

(a)
Rs. 51
(b)
Rs. 60
(c)
Rs. 57
(d)
Rs. 49

Answer: Option B

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Explanation :

Let C.P. of the article be Rs. x.

% profit when the article is sold for Rs. 81 = $\frac{81 - x}{x}$ × 100 …(1)

In addition, when the article is sold for Rs. 67,

% profit = $\frac{67 - x}{x}$ × 100 …(2)

From (1) and (2):

$\frac{81 - x}{x}$ × 100 = 3 $(\frac{67 - x}{x})$ × 100

⇒ 81 – x = 201 – 3x

⇒ 2x = 120

⇒ x = 60

Thus, the cost price of the article is Rs. 60

Hence, option (b).

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

A sold a watch to B at a gain of 25% and B sold it to C at a gain of 20%. If C paid Rs. 1,800 for it, the price paid by A is

(a)
Rs. 1,200
(b)
Rs. 1,000
(c)
Rs. 1,500
(d)
None of these

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

Ghalib purchased a second hand car worth Rs. 18 lakh and spend Rs. 2 lakh for its maintenance during the first year. At the end of the year he sold it for Rs. 15 lakh. If depreciation is 20% of the total cost price (purchase price + maintenance) find his profit/loss percentage.

(a)
6.25%
(b)
5%
(c)
6%
(d)
None of these

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

A sweet seller declares that he sells sweets at the cost price. However, he uses a weight of 800 gm for 1 kg. His profit percentage is

(a)
15%
(b)
25%
(c)
20%
(d)
18%

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

A trading concern in the first year made a profit of Rs. 46,320 on a turnover of Rs. 9,00,200 and in the second year a loss of Rs. 3,390 was sustained on a turnover of Rs. 7,70,000, while in the third year a profit of Rs. 33,624 was made on a turnover of Rs. 8,24,000. What was the average profit per cent on the three years turnover?

(a)
2.5%
(b)
2.63%
(c)
3.07%
(d)
None of these

Answer: Option C

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Explanation :

Calculate total turnover of 3 years

i.e. 9,00,200 + 7,70,000 + 8,24,000 = Rs. 24,94,200

Calculate total profit for 3 years

46320 – 3290 + 33624 = Rs. 76,554.

∴ Avg. profit % over 3 years turnover = $\frac{76554}{2494200}$ × 100 = 3.07%

Hence, option (c).

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

A manufacturer estimates that on inspection 10% of the articles he produces will be rejected. He accepts an order to supply 18,000 articles at Rs. 12.50 each. He estimates the profit on his outlay including the manufacturing of rejected articles, to be 25%. Find the cost of manufacturing each article.

(a)
Rs. 12
(b)
Rs. 11
(c)
Rs. 10
(d)
Rs. 9

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

A tradesman fixed his selling price of goods at 40% above the cost price. He sells half the stock at this price, one-quarter of this stock at a discount of 20% on the original selling price and rest at a discount of 10% on the original selling price. Find the gain% altogether.

(a)
25%
(b)
29.5%
(c)
32.5%
(d)
None of these

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

A dishonest dealer marks up the price of his goods by 20% and then gives discount of 10% to the customer. He also uses a 900 gm weight instead of 1 kg weight. Find his profit% due to these maneuvers.

(a)
8%
(b)
12%
(c)
20%
(d)
None of these

Answer: Option C

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Explanation :

Assume CP as Rs. 1/gm

∴ SP = 1 × 1.2 × 0.9 = Rs. 1.08/gm

He buys 900 gms and while selling quotes it as 1000 gms.

⇒ Total cost price = 900 × 1 = Rs. 900

⇒ Total selling price = 1000 × 1.08 = Rs. 1080

∴ Profit% = $\frac{1080 - 900}{900}$ × 100 = 20%

Hence, option (c).

PE 1 - Profit & Loss | Arithmetic - Profit & Loss

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