Profit And Loss Questions And Answers PDF

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Profit And Loss Problems with Solutions PDF

P, Q and R are partners and invest in a business. P invests 1/6^th of the total investment and Q invests 2/5^th of the total investment. What is the ratio of profit of P, Q and R respectively?

1. 12 : 5 : 13
2. 5 : 3 : 2
3. 5 : 12 : 13
4. 10 : 3 : 4
5. None of the above/More than one of the above.

Solution

P invests 1/6^th of the total investment.

Q invests 2/5^th of the total investment.

Taking L.C.M = 6, 5

L.C.M = 30

Let the total investment be Rs. 30.

P invests 1/6th of the total investment = 30/6 = Rs. 5

Q invests 2/5th of the total investment = (2/5) × 30 = Rs. 12

Thus R invests = Rs 30 – (Rs. 12 + Rs. 5)

⇒ 30 – 17

⇒ Rs. 13

Thus ratio of the profit of P, Q and R respectively is 5 : 12 : 13.

Hence, the correct answer is “5 : 12 : 13”.

Question 2:

Hitesh sold an article at the profit of 15% and while weighing used a weight of 920 grams in place of 1 kg. Find out his actual total profit%?

1. 35%
2. 25%
3. 30%
4. 40%

Solution;

GIVEN:

Profit % = 15%

Hitesh uses 920 grams instead of 1 kg

FORMULA USED:

Actual Profit% = (Actual profit/CP) × 100

CALCULATION:

Let the cost of 1 kg is = Rs. 100

Hitesh sold articles at the profit of 15%

So, selling price = Rs. 115

But he weighs only 920 gm which cost = Rs. 92

So, Actual profit = 115 – 92 = 23∴ Actual Profit % = 23/92 × 100 = 25%

Question 3:

On selling an article for Rs. 800, the loss is 1/8 of the profit which is received on selling the article for Rs. 890. Find the cost price of the article.

1. Rs. 800
2. Rs. 820
3. Rs. 830
4. Rs. 810

Solution;

Given:

On selling an article for Rs. 800, the loss is 1/8 of the profit which is received on selling the article for Rs. 890.

Calculation:

Let the cost price of the article be ‘x’

⇒ (x – 800) = (1/8)(890 – x)

⇒ 8x – 6400 = 890 – x

⇒ 9x = 7290

⇒ x = 810∴ Cost price of the article = Rs. 810

Question 4

The price of a VCR is marked at ₹15,000. If successive discounts of 20%, 15% and 10 % are allowed, then at what price does a customer buy it?

1. ₹10,180
2. ₹11,080
3. ₹9,180
4. ₹10,200
5. Not attempted

Solution;

Given:

The price of a VCR is marked at ₹15,000.

Successive discounts of 20%, 15% and 10 % are allowed

Concept used:

Selling price = Marked Price – Marked Price × Discount%

Final discount percentage after two successive discounts of A% and B% = (�+�−��100)%

Calculation:

Price becomes after 20% discount

⇒ 15000 – 15000 × 20% = ₹12000

Price becomes after 15% discount

⇒ 12000 – 12000 × 15% = ₹10200

The final price that the customer pays after the last 10% discount

⇒ 10200 – 10200 × 10% = ₹9180

Question 5:

If on a marked price, the difference of selling prices with a discount of 30% and two successive discounts of 20% and 10% is Rs.72, then the marked price is:

1. Rs.4,000
2. Rs.3,800
3. Rs.3,600
4. Rs.3,400
5. Not attempted

Given:

Normal discount = 30%

Two successive discounts = 20% and 10%

Difference in amount of normal and successive discount = Rs. 72

Formula used:

Successive discount formula = D₁ + D₂ – (D₁ × D₂)/100

SP = [MP × (100 – D)/100]

Here,

D1 and D2 are two discounts

Calculation:

Substituting the values in formula we get,

Successive discount = 20 + 10 – (20 × 10)/100

⇒ (30 – 2)%

⇒ 28%

Normal discount = 30%

Difference in discount% = Difference in discount amount

⇒ (30 – 28)% = 72

⇒ 2% = 72

⇒ 1% = 36

⇒ 100% = 3600

Question 6:

A shopkeeper earns a profit of 25 percent on selling a radio at 15 percent discount on the Printed price. Finds the ratio of the Printed price and the cost price of the radio.

1. 17 : 25
2. 25 : 27
3. 27 : 25
4. 25 : 17
5. None

Given:

Profit = 25 Percent

Discount = 15 Percent

Formula:

MP/CP = (100 + Profit %)/(100 – Discount %)

MP = Printed Price

CP = Cost Price

Calculation:

We know that –

MP/CP = (100 + Profit %)/(100 – Discount %)   ………. (1)

Put all given values in equation (1) then we gets

MP/CP = (100 + 25)/(100 – 15)

⇒ 125/85

⇒ 25/17

Question 7:

A shopkeeper normally makes a profit of 20% in a certain transaction; he weights 900 g instead of 1 kg, due to an issue with the weighing machine. If he charges 10% less than what he normally charges, what is his actual profit or loss percentage?

1. 20%
2. 28%
3. 25%
4. 30%

Given:

A shopkeeper normally makes a profit of 20% in a certain transaction,

He weights 900 g instead of 1 kg, due to an issue with the weighing machine.

He charges 10% less than what he normally charges.

Formula used:

SP = 100−��������100×��

Calculations:

Let the cost price of 1 Kg of goods = Rs. 100

So, the selling price of 1 Kg of goods = 100 × 120/100 = Rs. 120

Cost price of 900 grams of goods = Rs. 90

According to question,

Shopkeeper charges 10% less what he normally charges

So, the new selling price = old selling price × (100 – 10)/100

⇒ New selling price = 120 × 90100 =Rs. 108

So, profit = Rs. (108 – 90) = Rs. 18

So, profit % = (1890) × 100 = 20%

Question 8:

Two successive discounts of 40% and 20%, respectively, on the marked price of an article are equal to single discount of Rs 988. The marked price (in Rs) of the article is:

1. 1,900
2. 2,200
3. 2,470
4. 2,070

Given:

Two discounts = 40% and 20%

Formula:

Two discounts a% and b%

Total discount = (�+�)−��100

Discount amount = (marked price) × (discount %)/100

Calculation:

Single discount percentage = (40+20)−40×20100 = 52%

⇒ 52 = 988/marked price × 100

⇒ Marked price = 1900

Question 9:

Sulekha bought 36 kg of sugar for Rs. 1,040. She sold it at a profit equal to the selling price of 10 kg of it. What is the selling price (in Rs.) for 5 kg of sugar ?

1. 200
2. 215
3. 220
4. 235

Given:

Cost price of 36 kg sugar = Rs.1040

Formula used:

Profit = Selling price – Cost price

Calculation:

CP of 1 kg sugar = Rs.1040/36 

According to the question, 

SP × 10 = SP × 36 – CP × 36

⇒ CP × 36 = 26 × SP

⇒ 1040/ 36 × 36 = 26 × SP 

⇒ 1040 = 26 × SP

⇒ SP = 1040/26 = 40

Now, SP of 5 kg of sugar = 40 × 5 = Rs. 200

Question 10:

Amar sells his TV at a rate of Rs. 1540 and bears a loss of 30%. At what rate should he sell his TV so that he gains a profit of 30%?

1. Rs. 2920
2. Rs. 2480
3. Rs. 2680
4. Rs. 2860

GIVEN:

SP = Rs. 1540 when loss = 30%

CONCEPT:
Basic profit and loss concept.

FORMULA USED:

SP = CP × (1 – Loss %/100)

SP = CP × (1 + Profit %/100)

CALCULATION:

Cost price of TV = 1540/(1 – 30/100)

= 1540/0.7 = Rs. 2200

Hence,Selling price when profit is 30% = 2200 × (1 + 30/100) = Rs. 2860

Language	English
No. of Pages	43
PDF Size	2 MB
Category	Education
Source/Credits	smartkeeda.com

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Profit and Loss Questions PDF Free Download