Question 1

1. A dishonest dealer marks up his goods by 20% and gives a discount of 10% to the customer. Beside this, he also cheats his supplier by 20% and his customer by 10% through faulty balances. Find his overall profit percentage.

A) 35%B) 44%C) 50%D) 40%

Answer

✓ Correct Answer: Option B

Explanation: Let the standard weight be 1000 g and Cost Price (CP) be ₹1 per gram. 1. Cheating supplier by 20%: He gets 1200 g for the price of 1000 g. So, CP of 1200 g = ₹1000. 2. Markup and Discount: $MP = 1.20 \times CP$, $SP = 0.90 \times MP = 0.90 \times 1.20 = 1.08$ per gram. 3. Cheating customer by 10%: He sells 900 g but charges for 1000 g. Total SP for 1000 units charged = $1000 \times 1.08 = ₹1080$. But he only gave 900 g. In the first step, we found CP of 1200 g is ₹1000. So, CP of 900 g = $\left(\frac{1000}{1200}\right) \times 900 = ₹750$. Profit Percentage = $\left(\frac{1080 - 750}{750}\right) \times 100 = \left(\frac{330}{750}\right) \times 100 = 44%$.

Question 2

2. If the cost price of 18 articles is equal to the selling price of 12 articles, what is the profit percentage?

Question 3

3. A man sells two chairs at ₹1200 each. On one he gains 20% and on the other he loses 20%. Find his net gain or loss in the whole transaction.

A) Loss of ₹100B) Gain of ₹100C) No profit, no lossD) Loss of 4% of ₹2400

Answer

✓ Correct Answer: Option A

Explanation: When two items are sold at the same SP, one at x% gain and another at x% loss, there is always a loss of $\left(\frac{x^2}{100}\right)%$. Percentage Loss = $\left(\frac{20^2}{100}\right) = 4%$. Total SP = 1200 + 1200 = ₹2400. Total $CP = \frac{100}{100 - Loss%} \times SP = \frac{100}{96} \times 2400 = ₹2500$. Net Loss = CP - SP = 2500 - 2400 = ₹100.

Question 4

4. A trader marks his goods such that even after allowing a discount of 12.5%, he makes a profit of 15%. If the cost price of the article is ₹420, find the marked price.

A) ₹520B) ₹540C) ₹560D) ₹552

Answer

✓ Correct Answer: Option D

Explanation: We know that $\frac{MP}{CP} = \frac{100 + Profit%}{100 - Discount%}$. $\frac{MP}{420} = \frac{100 + 15}{100 - 12.5} = \frac{115}{87.5}$. $MP = \frac{115 \times 420}{87.5} = \frac{115 \times 4200}{875}$. Dividing by 25: $\frac{115 \times 168}{35}$. Dividing by 7: $\frac{115 \times 24}{5} = 23 \times 24 = ₹552$.

Question 5

5. By selling 33 meters of cloth, a person gains the cost price of 11 meters. Find the gain percentage.

A) 25%B) 50%C) $33\frac{1}{3}\%$D) 20%

Answer

✓ Correct Answer: Option C

Explanation: Gain = SP of 33m - CP of 33m. Given: Gain = CP of 11m. CP of 11 = SP of 33 - CP of 33. CP of 44 = SP of 33. Gain Percentage = $\frac{44-33}{33} \times 100 = \frac{11}{33} \times 100 = 33\frac{1}{3}%$.

Question 6

6. A reduction of 20% in the price of sugar enables a housewife to buy 5 kg more for ₹600. Find the reduced price per kg.

A) ₹30B) ₹24C) ₹20D) ₹36

Answer

✓ Correct Answer: Option B

Explanation: Reduction in price = 20% of 600 = ₹120. This ₹120 allows buying 5 kg more. So, Reduced Price = $\frac{120}{5} = ₹24$ per kg.

Question 7

7. A manufacturer sells an article to a wholesale dealer at a profit of 10%. The wholesaler sells it to a shopkeeper at 20% profit. The shopkeeper sells it to a customer for ₹56,100 at a loss of 15%. Find the cost price for the manufacturer.

A) ₹45,000B) ₹48,000C) ₹52,000D) ₹50,000

Answer

✓ Correct Answer: Option D

Explanation: Let the initial CP be x. $x \times (1.10) \times (1.20) \times (0.85) = 56100$. $x \times 1.1 \times 1.2 \times 0.85 = 56100$. $x \times (1.122) = 56100$. $x = \frac{56100}{1.122} = 50,000$. Therefore, CP = ₹50,000.

Question 8

8. A person bought some oranges at the rate of 5 for ₹1 and the same number at the rate of 4 for ₹1. He sold them at the rate of 9 for ₹2. During the whole transaction, he incurred a loss of ₹3. Find the total number of oranges he bought.

A) 1080B) 540C) 2160D) 480

Answer

✓ Correct Answer: Option A

Explanation: Let the number of oranges bought at each rate be LCM(5, 4, 9) = 180. CP of 180 oranges at 5 for ₹1 = ₹36. CP of 180 oranges at 4 for ₹1 = ₹45. Total CP for 360 oranges = 36 + 45 = ₹81. SP of 360 oranges at 9 for $₹2 = (360/9) \times 2 = ₹80$. Loss = 81 - 80 = ₹1 for 360 oranges. Actual loss is ₹3, so total oranges $= 360 \times 3 = 1080$.

Question 9

9. If a merchant offers a discount of 40% on the marked price of his goods and still manages to make a profit of 20%, then what is the percentage by which the marked price is more than the cost price?

A) 60%B) 80%C) 100%D) 120%

Answer

✓ Correct Answer: Option C

Explanation: Let CP = 100. Profit = 20% ⇒ SP = 120. Discount = 40% on MP. $0.60 \times MP = 120 ⇒ MP = \frac{120}{0.6} = 200$. Markup Amount = MP - CP = 200 - 100 = 100. Markup Percentage = $\left(\frac{100}{100}\right) \times 100 = 100%$.

Question 10

10. An item is sold at a loss of 10%. Had it been sold for ₹90 more, there would have been a gain of 5%. Find the CP of the item.

A) ₹500B) ₹600C) ₹800D) ₹750

Answer

✓ Correct Answer: Option B

Explanation: Difference in percentage = 5% - (-10%) = 15%. This 15% difference is caused by ₹90. 15% of CP = 90. $CP = \frac{90 \times 100}{15} = 6 \times 100 = ₹600$.

Accepted Answer

✓ Correct Answer: Option C

Explanation: Let CP of 1 article be x and SP of 1 article be y. Given: $18x = 12y ⇒ \frac{y}{x} = \frac{18}{12} = \frac{3}{2}$. Profit = SP - CP = 3 - 2 = 1 unit. Profit Percentage = $\left(\frac{1}{2}\right) \times 100 = 50%$.

Competitive Exams : Quantitative Aptitude - Profit/Loss (Set 6)

1. A dishonest dealer marks up his goods by 20% and gives a discount of 10% to the customer. Beside this, he also cheats his supplier by 20% and his customer by 10% through faulty balances. Find his overall profit percentage.

2. If the cost price of 18 articles is equal to the selling price of 12 articles, what is the profit percentage?

3. A man sells two chairs at ₹1200 each. On one he gains 20% and on the other he loses 20%. Find his net gain or loss in the whole transaction.

4. A trader marks his goods such that even after allowing a discount of 12.5%, he makes a profit of 15%. If the cost price of the article is ₹420, find the marked price.

5. By selling 33 meters of cloth, a person gains the cost price of 11 meters. Find the gain percentage.

6. A reduction of 20% in the price of sugar enables a housewife to buy 5 kg more for ₹600. Find the reduced price per kg.

7. A manufacturer sells an article to a wholesale dealer at a profit of 10%. The wholesaler sells it to a shopkeeper at 20% profit. The shopkeeper sells it to a customer for ₹56,100 at a loss of 15%. Find the cost price for the manufacturer.

8. A person bought some oranges at the rate of 5 for ₹1 and the same number at the rate of 4 for ₹1. He sold them at the rate of 9 for ₹2. During the whole transaction, he incurred a loss of ₹3. Find the total number of oranges he bought.

9. If a merchant offers a discount of 40% on the marked price of his goods and still manages to make a profit of 20%, then what is the percentage by which the marked price is more than the cost price?

10. An item is sold at a loss of 10%. Had it been sold for ₹90 more, there would have been a gain of 5%. Find the CP of the item.