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Questions for Practice on Profit and Loss for Quantitative Techniques

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Questions for Practice on Profit and Loss for Quantitative Techniques

Questions for Practice on Profit and Loss for Quantitative Techniques

Questions for Practice on Profit and Loss for Quantitative Techniques

  • Aarush​​ buys a Bluetooth speaker for Rs. 6500 and sells it at a loss of 15%. Calculate the selling price of the Bluetooth speaker?

  • If a shopkeeper bought a commodity for Rs. 500, at what price should he sell​​ it as to make a profit of 35%?

  • If​​ Suresh buys​​ a truck for Rs. 50000 and spends 20000 on its repair and sells it for Rs.​​ Rs. 53900. Find out the loss percent.

  • If by selling 50 pencils for Rs. 60, a man loses 25%.​​ At what price these 50 pencils should be sold to gain 20% profit?

  • If ​​ pens were bought at the rate of 3​​ pens​​ for Rs. 4 and then sold at the rate of ​​ 4​​ pens​​ at Rs. 3, calculate the profit or loss percentage

  • Rahul mixes 25 kgs of sugar at Rs. 30 per kg with 45 kg of sugar at Rs 40 per kg and sells the​​ mixture​​ at Rs. 35 per kg. Find the loss percentage.

  • If the​​ marked price​​ of a shirt at shop A is Rs. 4000​​ and the​​ discount offered on it by A is 20 %.​​ On shop B, the same shirt is available at the discount of 35%. If the selling price of the shirt is same at both the shops, what is the marked​​ price at shop B.

  • Khushi sells two cups at Rs. 700 each. On one she gains 20% and on the other, she loses 20%. Find the whole gain or less percent.

  • If the selling price of the table lamp is Rs. 3000 and has been sold at 15%​​ discount. Find the marked price of the lamp.

DO IT​​ YOURSELF!

If Suruchi​​ is selling a phone at Rs. 55000 inclusive of 18% sales tax and the profit percent is 20%. Find the cost price of the phone.

 

 

Answers with explanation

  • Cost Price of Bluetooth speaker ​​ = ​​ Rs. 6500

Loss percentage = 15%

Selling price = Cost price – loss

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =  ​​​​ 6500 – (15/100)*6500

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =  ​​​​ 6500 – 975

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = ​​ Rs. 5525

 

  • Cost price of the commodity = Rs. 500

Desired profit percentage = 35%

Selling price = Cost Price + Profit​​ 

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 500 + (35/100)* 500

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =  ​​​​ 500 + 175

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 675

  • Total price incurred on truck = Cost Price of the truck​​ 

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 50000+ 20000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 70000

Selling Price of the truck = Rs. 53900

Loss = S.P. – C.P.

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 70000- 53900

 ​​ ​​ ​​ ​​ ​​ ​​​​ ​​ = Rs. 16100

Loss percentage = (16100/ 70000) *100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 23%

  • Let the Cost Price of 50 pencils be x

Cost Price of 50 pencils = Selling price + loss

x = 60 + (25/100)*x

x = 60 + x/4

x-x/4 = 60

x = (60*4)/3

 ​​ ​​​​ = Rs. 80

Selling price to gain 20% profit = 80+ (20/100)*80

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 80 + 16

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 96

 

  • Let the no. of articles bought be LCM of ​​ 3 and 4 = 12

Cost Price of 12 article = (4/3)*12 = Rs. 16

Selling Price of 12 article = (3/4) *12 = Rs. 9

Loss percentage = (7/16)*100 = 43.75%

 

  • Cost Price of 70 kgs of rice = Rs. (25*30+ 45*40)

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 750+ 1800

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 2550

Selling Price of 70 kg rice = 70* 35

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =​​ Rs. 2450

 

Loss percent = [(2550-2450)/ 2550] * 100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 3.9%

 

  • Selling Price by shop A = ​​ 4000- (20/100)*4000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 4000- 800

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 3200

Selling price by A = Selling price by shop B

Therefore,​​ 

3200 = Marked Price – discount

3200 = Marked price – (35/100) * marked price

Marked Price = Rs. 4923(approx.)

  • Let the Cost price of the first cup on which she gains 20% ​​ be x

Selling Price of first cup = x + (20/100)* x

 ​​ ​​ ​​ ​​ ​​​​ 700 = x +x/5

 ​​ ​​ ​​ ​​ ​​ ​​​​ x = (700*5)/6

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 583 (approx.)

Let the Cost price of the first cup on which she loses 20% ​​ be y

700 = y – (20/100)*y

700 =​​ ​​ y- y/5​​ 

y = (700*5)/ 4

 ​​ ​​​​ = ​​ Rs. 875

Total Cost price of two cups = 583+ 875 = Rs. 1458

Total Selling price of two cups = 700+700 = Rs. 1400

Loss Percentage = (58/ 1458)* 100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 3.9%

  • Let the marked price of the lamp be x.

Selling Price = Marked Price – Discount

3000 = x – (15/100)*x

x = (3000*20)/ 17

 ​​ ​​​​ = Rs. 3529 (approx.)

 

 

 

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