# Profit and Loss

## Profit and Loss

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Question 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:

32/7% | |

60/11% | |

10% | |

12% |

Question 1 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 % =(300/5500)x 100% = 60/11 %

Question 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:

15 | |

16 | |

18 | |

25 |

Question 2 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
==> 2000 - 100x = 25x =>125x = 2000
x= 16.

Question 3 |

If selling price is doubled, the profit triples. Find the profit percent.

120 | |

100 | |

105 | |

120 |

Question 3 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%

Question 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?

30% | |

70% | |

100% | |

250% |

Question 4 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 = (295/420)*100% =1475/21% = 70% (approximately).

Question 5 |

A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

3 | |

4 | |

5 | |

6 |

Question 5 Explanation:

C.P. of 6 toffees = Re. 1
S.P. of 6 toffees = 120% of Re. 1 = Rs. 6/5
For Rs. 6/5 , toffees sold = 6.
For Re. 1, toffees sold =6 x(5/6)= 5

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