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Profit & 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:


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 % =300x 100%= 55%
550011






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:

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 - xx 100 = 25
x

 2000 - 100x = 25x
125x = 2000
 x = 16.



3. 
If selling price is doubled, the profit triples. Find the profit percent.


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 % =xx 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?





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 =295x 100%=1475% = 70% (approximately).
42021





5. 
A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?


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 x5= 5.
6







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