Exercise :: Profit and Loss - General Questions
| 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: |
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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.
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%| 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: |
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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).
125x = 2000
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2000 - 100x = 25x| 3. | If selling price is doubled, the profit triples. Find the profit percent. |
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Answer: Option B Explanation: Let C.P. be Rs. x and S.P. be Rs. y. Then, 3(y - x) = (2y - x) Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.
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| 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? |
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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.
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| 5. | A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%? |
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Answer: Option C Explanation: C.P. of 6 toffees = Re. 1
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