PROFIT AND LOSS EXAMPLE QUESTIONS PART 1

1.	PROFIT AND LOSS EXAMPLE QUESTIONS PART 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% 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 % = 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 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.
	A. 66 2 3 B. 100 C. 105 1 3 D. 120 Answer: Option B 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% 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.  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 Answer: Option C 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
	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 D. Data inadequate Answer: Option A Explanation: Let C.P. be Rs. x. Then, 1920 - x x 100 = x - 1280 x 100 x x  1920 - x = x - 1280  2x = 3200  x = 1600  Required S.P. = 125% of Rs. 1600 = Rs. 125 x 1600 = Rs 2000. 100

6. 

 

7.	A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?
	A. Rs. 18.20 B. Rs. 70 C. Rs. 72 D. Rs. 88.25 Answer: Option C Explanation: C.P. = Rs. 100 x 392 = Rs. 1000 x 392 = Rs. 320 122.5 1225  Profit = Rs. (392 - 320) = Rs. 72.

 

8.	A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?
	A. Rs. 1090 B. Rs. 1160 C. Rs. 1190 D. Rs. 1202 Answer: Option C Explanation: S.P. = 85% of Rs. 1400 = Rs. 85 x 1400 = Rs. 1190 100

 

9.	Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?
	A. 3.5 B. 4.5 C. 5.6 D. 6.5 Answer: Option C Explanation: Cost Price of 1 toy = Rs. 375 = Rs. 31.25 12 Selling Price of 1 toy = Rs. 33 So, Gain = Rs. (33 - 31.25) = Rs. 1.75  Profit % = 1.75 x 100 % = 28 % = 5.6% 31.25 5

 

10.	Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:
	A. 30% B. 33 1 % 3 C. 35% D. 44% Answer: Option D Explanation: Suppose, number of articles bought = L.C.M. of 6 and 5 = 30. C.P. of 30 articles = Rs. 5 x 30 = Rs. 25. 6   S.P. of 30 articles = Rs. 6 x 30 = Rs. 36. 5    Gain % = 11 x 100 % = 44%. 25

 

 

11.  If the cost price of 50 articles is equal to the selling price of 40 articles, then the gain or loss percent is?

·        A. 20% loss

·        B. 20% profit

·        C. 10% profit

·        D. 25% loss

·        E. None of these

Answer & Explanation

Answer: Option E

Explanation:

Given that, cost price of 50 article is equal to selling price of 40 articles.                      

Let cost price of one article = Rs. 1

Selling price of 40 articles = Rs. 50

But Cost price of 40 articles = Rs. 40

Therefore, the trader made profit.\Percentage of profit = 10/40 * 100 = 25%

 

12.	When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?
	A. Rs. 21,000 B. Rs. 22,500 C. Rs. 25,300 D. Rs. 25,800 Answer: Option C Explanation: 85 : 18700 = 115 : x  x = 18700 x 115 = 25300. 85 Hence, S.P. = Rs. 25,300.

 

13.	100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is:
	A. 14 2 % gain 7 B. 15% gain C. 14 2 % loss 7 D. 15 % loss Answer: Option A Explanation: C.P. of 1 orange = Rs. 350 = Rs. 3.50 100   S.P. of 1 orange = Rs. 48 = Rs. 4 12    Gain% = 0.50 x 100 % = 100 % = 14 2 % 3.50 7 7

 

14.	A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is:
	A. 5 15 % loss 17 B. 5 15 % gain 17 C. 6 2 % gain 3 D. None of these Answer: Option B Explanation: C.P. of 1st transistor = Rs. 100 x 840 = Rs. 700. 120   C.P. of 2nd transistor = Rs. 100 x 960 = Rs. 1000 96 So, total C.P. = Rs. (700 + 1000) = Rs. 1700. Total S.P. = Rs. (840 + 960) = Rs. 1800.  Gain % = 100 x 100 % = 5 15 % 1700 17

 

15.	A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:
	A. No profit, no loss B. 5% C. 8% D. 10% E. None of these Answer: Option B Explanation: C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600. S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.  Gain = 80 x 100 % = 5%. 1600

 

16.	A shopkeeper sells some articles at the profit of 25% on the original price. What is the exact amount of profit? To find the answer, which of the following information given in Statements I and II is/are necessary? I.  Sale price of the article  II.  Number of articles sold
	A. Only I is necessary B. Only II is necessary C. Either I or II is necessary D. Both I and II are necessary E. None of these Answer: Option D Explanation: Gain = 25% of C.P. In order to find gain, we must know the sale price of each article and the number of articles sold.  Correct answer is (D).

 

17.	A shopkeeper sells some toys at Rs. 250 each. What percent profit does he make? To find the answer, which of the following information given in Statements I and II is/are necessary? I.  Number of toys sold.  II.  Cost price of each toy.
	A. Only I is necessary B. Only II is necessary C. Both I and II are necessary D. Either I or II ins necessary E. None of these Answer: Option B Explanation: S.P. = Rs. 250 each. To find gain percent, we must know the C.P. of each.  Correct answer is (B).

 

18.

A man mixes two types of rice (X and Y) and sells the mixture at the rate of Rs. 17 per kg. Find his profit percentage. I.  The rate of X is Rs. 20 per kg.  II.  The rate of Y is Rs. 13 per kg.

A. I alone sufficient while II alone not sufficient to answer B. II alone sufficient while I alone not sufficient to answer C. Either I or II alone sufficient to answer D. Both I and II are not sufficient to answer E. Both I and II are necessary to answer Answer: Option D Explanation: The ratio, in which X and Y are mixed, is not given. So, both I and II together cannot give the answer.  Correct answer is (D).

 

 

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19.

By selling a product with 20% profit, how much profit was earned? I.  The difference between cost and selling price is Rs. 40.  II.  The selling price is 120 percent of the cost price.

A. I alone sufficient while II alone not sufficient to answer B. II alone sufficient while I alone not sufficient to answer C. Either I or II alone sufficient to answer D. Both I and II are not sufficient to answer E. Both I and II are necessary to answer Answer: Option A Explanation: Gain = 20% I. Profit = (S.P.) - (C.P.) = Rs. 40. Thus, I give the answer. But, II does not give the answer.    Correct answer is (A).

 

20.

By selling an article what is the profit percent gained? I.  5% discount is given on list price. II.  If discount is not given, 20% profit is gained.  III.  The cost price of the articles is Rs. 5000.

A. Only I and II B. Only II and III C. Only I and III D. All I, II and III E. None of these Answer: Option A Explanation:  I. Let the list price be Rs. x. Then, S.P. = 95% of Rs. x = Rs. x x 95 = Rs. 19x 100 20 II. When S.P. = Rs. x and gain = 20%. Then, C.P. = Rs. 100 x x = Rs. 5x 120 6    Gain = 19x - 5x = 57x - 50x = 7x 20 6 60 60    Gain % = 7x x 6 x 100 % = 14%. 60 5x Thus, I and II only give the answer.  Correct answer is (A).

 

 

21. What was the percentage of discount given? I.  23.5% profit was earned by selling an almirah for Rs. 12,350.  II.  If there were no discount, the earned profit would have been 30%.  III.  The cost price of the almirah was Rs. 10,000.

A. Only I and II B. Only II and III C. Only I and III D. Any two of the three E. None of these Answer: Option E Explanation:   I. S.P. = Rs. 12350, Gain = 23.5%  C.P. = Rs. 100 x 12350 = Rs. 10,000. 123.5  II. M.P. = 130% of C.P. = 130% of Rs. 10,000 = Rs. 13,000. From I and II, discount = Rs. (13000 - 12350) = Rs. 650. Discount % = 650 x 100 % = 5%. 13000 Thus, I and II give the answer. II and III can not give the answer. Because we require profit percentage with discount and profit percentage without discount. So II and III are not sufficient. Since III gives C.P. = Rs. 10,000, I and III give the answer. Therefore, I and II [or] I and III give the answer.  Correct answer is (E).

 

22. What is the percent profit earned by the shopkeeper on selling the articles in his shop? I.  Labeled price of the articles sold was 130% of the cost price. II.  Cost price of each article was Rs. 550.  III.  A discount of 10% on labeled price was offered.

A. Only I B. Only II C. I and III D. All the three are required E. Question cannot be answer even with information in all the three statements. Answer: Option C Explanation:   I. Let C.P. be Rs. x. Then, M.P. = 130% of x = Rs. 13x . 10 III. S.P. = 90% of M.P. Thus, I and III give, S.P. = Rs. 90 x 13x = Rs. 117x 100 10 100   Gain = Rs. 117x - x = Rs. 17x 100 100 Thus, from I and III, gain % can be obtained. Clearly, II is redundant.

 

23.  A man buys an article for Rs. 27.50 and sells it for Rs 28.60. Find      his gain percent

A.             1%

B.    2%

C.    3%

D.   4%

Answer: Option D

Explanation:

So we have C.P. = 27.50
S.P. = 28.60

Gain = 28.60 - 27.50 = Rs. 1.10

Gain%=(GainCost∗100)%=(1.1027.50∗100)%=4%

 

24.  A TV is purchased at Rs. 5000 and sold at Rs. 4000, find the lost percent.

A.             10%

B.    20%

C.    25%

D.   28%

Answer: Option B

Explanation:

We know, C.P. = 5000
S.P. = 4000
Loss = 5000 - 4000 = 1000

Loss%=(LossCost∗100)%=(10005000∗100)%=20%

 

 

25.  In terms of percentage profit, which among following the best transaction.

A.             C.P. 36, Profit 17

B.    C.P. 50, Profit 24

C.    C.P. 40, Profit 19

D.   C.P. 60, Profit 29

 Answer And Explanation

Answer: Option D

Explanation:

Hint: Calculate profit percent as

Profit% = (profit/cost) * 100

 

 

26.  A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.

A.             Rs.1200

B.    Rs.1230

C.    Rs.1260

D.   Rs.1290

 Answer And Explanation

Answer: Option C

Explanation:

Let the new S.P. be x, then.
(100 - loss%):(1st S.P.) = (100 + gain%):(2nd S.P.)

=>(951140=105x)=>x=1260

 

27.  A book was sold for Rs 27.50 with a profit of 10%. If it were sold for Rs. 25.75, then would have been percentage of profit and loss ?

A.             2% Profit

B.    3% Profit

C.    2% Loss

D.   3% Loss

 Answer And Explanation

Answer: Option B

Explanation:

Please remember

S.P.=(100+gain%100∗C.P)So, C.P. = (100110∗25.75)When S.P. = 25.75 then Profit=25.75−25=Re.0.75Profit%=0.7525∗100=3%

 

 

28.  If the cost price is 25% of selling price. Then what is the profit percent.

A.             150%

B.    200%

C.    300%

D.   350%

 Answer And Explanation

Answer: Option C

Explanation:

Let the S.P = 100
then C.P. = 25

Profit = 75

Profit% = 75/25 * 100 = 3005

29.  The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find out the value of x

A.              13

B.     14

C.     15

D.    16

 Answer And Explanation

Answer: Option D

Explanation:

Let the Cost Price of one article = Rs. 1
CP of x articles = Rs. x
CP of 20 articles = 20
Selling price of x articles = 20

Profit = 25% [Given]

⇒(SP−CP/CP)=25/100=1/4

⇒(20−x)x=1/4

⇒80−4x=x

⇒5x=80

⇒x=80/5=16

 

30.  A man buys an item at Rs. 1200 and sells it at the loss of 20 percent. Then what is the selling price of that item

A.             Rs. 660

B.    Rs. 760

C.    Rs. 860

D.   Rs. 960

 Answer And Explanation

Answer: Option D

Explanation:

Here always remember, when ever x% loss,
it means S.P. = (100 - x)% of C.P
when ever x% profit,
it means S.P. = (100 + x)% of C.P

So here will be (100 - x)% of C.P.
= 80% of 1200
= 80/100 * 1200
= 960

 

31.  Sahil purchased a machine at Rs 10000, then got it repaired at Rs 5000, then gave its transportation charges Rs 1000. Then he sold it with 50% of profit. At what price he actually sold it.

A.             Rs. 22000

B.    Rs. 24000

C.    Rs. 26000

D.   Rs. 28000

 Answer And Explanation

Answer: Option B

Explanation:

Question seems a bit tricky, but it is very simple.
Just calculate all Cost price, then get 150% of CP.

C.P. = 10000 + 5000 + 1000 = 16000

150% of 16000 = 150/100 * 16000 = 24000

 

 

32.  A shopkeeper expects a gain of 45/2 % on his C.P. If his sale was Rs. 392, then find his profit.

A.             Rs. 70

B.    Rs. 72

C.    Rs. 74

D.   Rs. 76

 Answer And Explanation

Answer: Option B

Explanation:

We Know,

S.P.=(100+gain%100∗C.P)

=>C.P.=100122.50∗392=320

Profit=392−320

=Rs72

 

33.  A plot is sold for Rs. 18,700 with a loss of 15%. At what price it should be sold to get profit of 15%.

A.             Rs 25300

B.    Rs 22300

C.    Rs 24300

D.   Rs 21300

 Answer And Explanation

Answer: Option A

Explanation:

This type of question can be easily and quickly solved as following:

Let at Rs x it can earn 15% pr0fit
85:18700 = 115:x [as, loss = 100 -15, Profit = 100 +15]

x = (18700*115)/85
= Rs.25300

 

 

34.  A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be.

A.             130%

B.    140%

C.    150%

D.   160%

 Answer And Explanation

Answer: Option B

Explanation:

Let the C.P. = x,
Then S.P. = (120/100)x = 6x/5
New S.P. = 2(6x/5) = 12x/5

Profit = 12x/5 - x = 7x/5

Profit% = (Profit/C.P.) * 100
=> (7x/5) * (1/x) * 100 = 140 %

 

 

35.  If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is ?

A.             12%

B.    30%

C.    50%

D.   60%

 Answer And Explanation

Answer: Option C

Explanation:

Friends, we know we will need gain amount to get gain percent, right. So lets get gain first.

Let the cost price of 1 pen is Re 1
Cost of 8 pens = Rs 8
Selling price of 8 pens = 12
Gain = 12 - 8 = 4

Gain%=(Gain/Cost∗100)%=(4/8∗100)%=50%

 

36.  The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25% then determine the value of x.

A.             14

B.    15

C.    16

D.   17

 Answer And Explanation

Answer: Option C

Explanation:

Let the cost price 1 article = Re 1
Cost price of x articles = x
S.P of x articles = 20

Gain = 20 -x

=>25=(20−x/x∗100)

=>2000−100x=25x

=>x=16

 

37.  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.             70%

B.    80%

C.    90%

D.   None of above

 Answer And Explanation

Answer: Option A

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
= 70%(approx)

 

 

38.  If the cost price of 12 items is equal to the selling price of 16 items, the loss percent is

A.             20%

B.    25%

C.    30%

D.   35%

 Answer And Explanation

Answer: Option B

Explanation:

Let the Cost Price of 1 item = Re. 1
Cost Price of 16 items = 16
Selling Price of 16 items = 12

Loss = 16 - 12 = Rs 4

Loss % = (4/16)* 100 = 25%

 

 

39.  A man bought an article and sold it at a gain of 5 %. If he had bought it at 5% less and sold it for Re 1 less, he would have made a profit of 10%. The C.P. of the article was

A.             Rs 100

B.    Rs 150

C.    Rs 200

D.   Rs 250

 Answer And Explanation

Answer: Option C

Explanation:

Let original Cost price is x
Its Selling price = 105/100 * x = 21x/20
New Cost price = 95/100 * x = 19x/20
New Selling price = 110/100 * 19x/20 = 209x/200
[(21x/20) - (209x/200)] = 1

=> x = 200

 

 

40.  A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%

A.             Rs 8.81

B.    Rs 9.81

C.    Rs 10.81

D.   Rs 11.81

 Answer And Explanation

Answer: Option D

Explanation:

85 : 9 = 105 : x
x= (9×105/85)
= Rs 11.81

 

41.  If the manufacturer gains 10 %, the wholesale dealer 15 % and the retailer 25 %, then find the cost of production of a table if the retail price was Rs 1265

A.             Rs. 750

B.    Rs. 800

C.    Rs. 850

D.   Rs. 900

 Answer And Explanation

Answer: Option B

Explanation:

Let the cost of Production = Rs. P
Then, as per question,

=>(125/100∗115/100∗/∗P)=1265

=>253/160P=1265

=>P=800

 

42.  A producer of tea blends two varieties of tea from two tea gardens one costing Rs 18 per kg and another Rs 20 per kg in the ratio 5 : 3. If he sells the blended variety at Rs 21 per kg, then his gain percent is

A.             12%

B.    13%

C.    14%

D.   15%

 Answer And Explanation

Answer: Option A

Explanation:

Suppose he bought 5 kg and 3 kg of tea.
Cost Price = Rs. (5 x 18 + 3 x 20) = Rs. 150.
Selling price = Rs. (8 x 21) = Rs. 168.
Profit = 168 - 150 = 18

So, Profit % = (18/150) * 100 = 12%

 

 

43.  A shopkeeper sold an article for Rs 2564.36. Approximately what was his profit percent if the cost price of the article was Rs 2400

A.             4%

B.    5%

C.    6%

D.   7%

 Answer And Explanation

Answer: Option D

Explanation:

Gain % = (164.36*100/2400) = 6.84 % = 7% approx

 

 

44.  The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs 3. The ratio of two selling prices is

A.             51:52

B.    52:53

C.    53:54

D.   54:55

 Answer And Explanation

Answer: Option B

Explanation:

Let the Cost price of article is Rs. x

Required ratio =

104% of x106% of x=104/106=52/53=52:53

 

 

45.  A pair of articles was bought for Rs. 37.40 at a discount of 15%. What must be the marked price of each of the articles ?

A.             Rs15

B.    Rs 20

C.    Rs 22

D.   Rs 25

 Answer And Explanation

Answer: Option C

Explanation:

As question states that rate was of pair of articles,

So rate of One article = 37.40/2 = Rs. 18.70

Let Marked price = Rs X
then 85% of X = 18.70

=> X = 1870/85 = 22

 

 

46.  A shopkeeper fixes the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is

A.             18%

B.    20%

C.    22%

D.   24%

 Answer And Explanation

Answer: Option B

Explanation:

Let the cost price = Rs 100
then, Marked price = Rs 135

Required gain = 8%,
So Selling price = Rs 108
Discount = 135 - 108 = 27

Discount% = (27/135)*100 = 20%

 

 

47.  Which among following options are true relating to this question :

Ram sold a card and makes 20% profit out of it, how much profit he actually earned ?

1. Difference between cost price of card and selling price of card is Rs. 40.
2. Selling price of card is 120% of cost price of card.

A.             Either 1 and 2 are sufficient to answer

B.    Either 1 and 2 are not sufficient to answer

C.    1 is sufficient to answer alone, 2 is not sufficient to answer

D.   2 is sufficient to answer alone, 1 is not sufficient to answer

 Answer And Explanation

Answer: Option C

Explanation:

From the question it is clear that, Gain is 20%
From 1, it is clear that S.P. - C.P. = 40, so it is sufficient to get answer.
While 2 is not sufficient to get answer.

 

 

48.  A dealer paid a car manufacturer Rs. 1,35,000 for a car. What should be the selling price of the car, if after allowing a buyer 10 % discount on the selling price, he made a profit of 8 % on his outlay?

A. Rs. 150,000

B. Rs. 1,60,000

C. Rs. 1,62,000

D. Rs. 1,52,500

E. Rs. 1,40,000

Answer & Explanation

Sol : Option C
profit and loss formula
Let SP of the car = x.
Discount of 10%. Profit = 8%.
∴ ((90/100)x - 135000/135000)×100 = 8
⇒ (90/100)x - 135000 = 8×1350 ⇒ (90/100)x ⇒ x = 162000

 

 

 

 

49.  A man purchases two pens for Rs. 740. He sells one at 12 % profit and the other at a 8 % loss. Then he neither gains nor loses. Find the cost price of each pen (in Rs.).

A. 324, 416

B. 296, 444

C. 288, 452

D. 365, 375

E. 272, 468

Answer & Explanation

Sol : Option B
CP of 2 pens = 740. Let CP of 1^st pen is x and CP of 2^nd pen is y.
Since there is no profit and loss in the whole transaction, so 12% of x = 8% of y
⇒x: y = 2: 3
Hence the cost of first pen = (2/3)×740 = Rs296 and that of the second pen = (3/5)×740 = Rs444

 

 

50.  A man sells a TV set for Rs. 4,800 and makes a profit of 20 %. He sells another TV at a loss of 16 %. If on the whole, he neither gains nor loses, find the selling price of the second TV set.

A. Rs. 3,800

B. Rs. 4,400

C. Rs. 4,200

D. Rs. 4,600

E. Rs. 3,500

Answer & Explanation

Sol : Option C
SP of first TV = Rs. 4800, the CP of first TV = 4800 × 100/120 = Rs 4000, so the profit earned is Rs. 800. Now he must get a loss of Rs. 800 by selling second TV as he neither gaining nor losing on the whole. Now Rs. 800 must be 16% of the CP of the second TV i.e. 800 × 100/16 = Rs. 5000, but the question is asking the SP of the second TV, which will be 5000 – 800 = Rs. 4200.