www.prep4paper.com Profit and Loss
1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the
scooter for Rs. 5800, his gain percent is:
4
A. 4 %
7
5
B. 5 %
11
C. 10%
D. 12%
Answer: Option B
Explanation:
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.
Selling Price (S.P.) = Rs. 5800.
Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.
Gain % = %=5
2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%,
then the value of x is:
A. 15
B. 16
C. 18
D. 25
Answer: Option B
Explanation:
Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.
S.P. of x articles = Rs. 20.
Profit = Rs. (20 - x).
20 - x
x 100 = 25
x
2000 - 100x = 25x
125x = 2000
x = 16.
3. If selling price is doubled, the profit triples. Find the profit percent.
2
A. 66
3
B. 100
1
C. 105
3
D. 120
Answer: Option B
Explanation:
Let C.P. be Rs. x and S.P. be Rs. y.
1
, www.prep4paper.com Profit and Loss
Then, 3(y - x) = (2y - x) y = 2x.
Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.
Gain % = % = 100%
4. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling
price remains constant, approximately what percentage of the selling price is the profit?
A. 30%
B. 70%
C. 100%
D. 250%
Answer: Option B
Explanation:
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420.
Profit = Rs. (420 - 125) = Rs. 295.
1475
Required percentage = % = % = 70% (approximately).
21
5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
A. 3
B. 4
C. 5
D. 6
Answer: Option C
Explanation:
C.P. of 6 toffees = Re. 1
6
S.P. of 6 toffees = 120% of Re. 1 = Rs.
5
6
For Rs. , toffees sold = 6.
5
5
For Re. 1, toffees sold = 6x = 5.
6
6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage
loss incurred by selling the same article for Rs. 1280. At what price should the article be sold
to make 25% profit?
A. Rs. 2000
B. Rs. 2200
C. Rs. 2400
2
1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the
scooter for Rs. 5800, his gain percent is:
4
A. 4 %
7
5
B. 5 %
11
C. 10%
D. 12%
Answer: Option B
Explanation:
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.
Selling Price (S.P.) = Rs. 5800.
Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.
Gain % = %=5
2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%,
then the value of x is:
A. 15
B. 16
C. 18
D. 25
Answer: Option B
Explanation:
Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.
S.P. of x articles = Rs. 20.
Profit = Rs. (20 - x).
20 - x
x 100 = 25
x
2000 - 100x = 25x
125x = 2000
x = 16.
3. If selling price is doubled, the profit triples. Find the profit percent.
2
A. 66
3
B. 100
1
C. 105
3
D. 120
Answer: Option B
Explanation:
Let C.P. be Rs. x and S.P. be Rs. y.
1
, www.prep4paper.com Profit and Loss
Then, 3(y - x) = (2y - x) y = 2x.
Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.
Gain % = % = 100%
4. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling
price remains constant, approximately what percentage of the selling price is the profit?
A. 30%
B. 70%
C. 100%
D. 250%
Answer: Option B
Explanation:
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420.
Profit = Rs. (420 - 125) = Rs. 295.
1475
Required percentage = % = % = 70% (approximately).
21
5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
A. 3
B. 4
C. 5
D. 6
Answer: Option C
Explanation:
C.P. of 6 toffees = Re. 1
6
S.P. of 6 toffees = 120% of Re. 1 = Rs.
5
6
For Rs. , toffees sold = 6.
5
5
For Re. 1, toffees sold = 6x = 5.
6
6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage
loss incurred by selling the same article for Rs. 1280. At what price should the article be sold
to make 25% profit?
A. Rs. 2000
B. Rs. 2200
C. Rs. 2400
2
