# 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:
A.
4     4     %
7
B.
5     5     %
11
C.     10%    D.     12%

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 % =         300     x 100     %     = 5     5     %
5500     11

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

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.
A.
66     2
3
B.     100
C.
105     1
3
D.     120

Explanation:

Let C.P. be Rs. x and S.P. be Rs. y.

Then, 3(y – x) = (2y – x)    y = 2x.

Profit = Rs. (y – x) = Rs. (2x – x) = Rs. x.

Profit % =         x     x 100     % = 100%
x

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%

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.

Required percentage =         295     x 100     %     =     1475     % = 70% (approximately).
420     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

Explanation:

C.P. of 6 toffees = Re. 1

S.P. of 6 toffees = 120% of Re. 1 = Rs.     6
5

For Rs.     6     , toffees sold = 6.
5

For Re. 1, toffees sold =         6 x     5         = 5.
6