Profit & Loss — Set #1 | Practice

{"setId":"6cce2565-0cfe-4819-88d6-3e9b5d77ee73","setTitle":"Profit and Loss – UPSC CSAT","topicName":"Profit & Loss","topicSlug":"profit-loss","setNumber":1,"totalQuestions":10,"questions":[{"id":"6f7576a4-e3cb-4b0f-9359-24e80984f651","order":1,"statement":"A man purchased a book at 4/5th of its selling price and sold it at 10% more than its selling price. Find his gain percent.","options":{"A":"35%","B":"33.3%","C":"45%","D":"37.5%"},"correctOption":"D","solution":"Let selling price = x. Cost price = 4x/5. New selling price = 110% of x = 11x/10. Gain = 11x/10 - 4x/5 = 3x/10. Gain% = (3x/10)/(4x/5) × 100 = 37.5%."},{"id":"c4b0842a-06c0-4cf7-a303-a59869daa63e","order":2,"statement":"A shopkeeper sold two clock sets for ₹888 each, gaining 10% on one, and lossing 10% on the other. Find his gain or loss percentage.","options":{"A":"5%","B":"10%","C":"2%","D":"1%"},"correctOption":"D","solution":"When selling price of two articles is the same and gain%=loss%=x%, there is always a net loss of (x²/100)%. Here x=10, so loss% = (10²/100)% = 1%."},{"id":"ca7ca793-9c88-4c58-852a-2660c98ef51f","order":3,"statement":"Mohan purchased some lemons at the rate of 3 lemons for Rs. 2. He sold all the lemons and earned 25% profit. At what rate did he sell all the lemon?","options":{"A":"4 for Rs. 3","B":"5 for Rs. 4","C":"6 for Rs. 5","D":"7 for Rs. 6"},"correctOption":"C","solution":"Cost price of 3 lemons = Rs.2. Selling price of 3 lemons at 25% profit = 1.25×2 = Rs.2.50. So he sold 3 lemons for Rs.2.50, which is equivalent to 6 lemons for Rs.5."},{"id":"cfb4599c-c80e-4b57-8dd9-9de107c4e6e1","order":4,"statement":"Shyam bought 800 pens at the rate of ₹3.75 per dozen. He sold 450 pens at the rate of 2 pens for ₹1 and the remaining pens at the rate of 5 pens for ₹2. Find the gain percentage of Shyam.","options":{"A":"35%","B":"44%","C":"42%","D":"46%"},"correctOption":"D","solution":"Cost price of 800 pens = (3.75/12)×800 = ₹250. Selling price = (1/2)×450 + (2/5)×350 = 225+140 = ₹365. Gain = 365-250 = ₹115. Gain% = (115/250)×100 = 46%."},{"id":"f32709d9-5989-4f30-9e18-e71c60473c4a","order":5,"statement":"By selling 90 meters of cloth, Punit gains as much as selling price of 30 meters of cloth. Find the gain percent.","options":{"A":"12.5%","B":"33.33%","C":"50%","D":"66.67%"},"correctOption":"C","solution":"Let CP and SP be per meter values. Given 90×SP=90×CP+30×SP, so 60SP=90CP, giving SP/CP=3/2. Gain% = [(SP-CP)/CP]×100 = [(3-2)/2]×100 = 50%."},{"id":"22e9e26a-a0f4-4151-93e2-5037fda290a3","order":6,"statement":"After selling 36 Tennis balls at Rs. 7236; loss happens equal to cost price of 4 tennis balls. What is the cost price of 36 tennis balls?","options":{"A":"8000","B":"8140.5","C":"8200","D":"8400"},"correctOption":"B","solution":"Let cost price of one ball = x. Total CP of 36 balls = 36x, loss = 4x. Given 4x=36x-7236, so 32x=7236, giving x=7236/32. Total CP = 36×(7236/32) = Rs. 8140.5."},{"id":"bd7178ab-0a24-4e88-a4f3-95c09a59efe4","order":7,"statement":"The profit earned by selling an article for Rs. 630 is double the loss incurred when the article is sold for Rs. 420. What should be the selling price (in Rs) of the article for making 40 percent profit?","options":{"A":"686","B":"690","C":"726","D":"710"},"correctOption":"A","solution":"Given (630-CP) = 2×(CP-420). Solving: 630-CP=2CP-840, so 1470=3CP, giving CP=490. Selling price for 40% profit = 1.4×490 = Rs. 686."},{"id":"7205478d-a655-49cf-9451-09306c8f4b33","order":8,"statement":"If 40 Radios are bought for Rs 24,640. How many Radios must be sold for Rs. 24,640 to earn a 25% profit?","options":{"A":"32","B":"33","C":"34","D":"36"},"correctOption":"A","solution":"Price of one radio = 24640/40 = 616. After 25% profit, selling price per radio = 616×1.25 = 770. Number of radios sold for Rs.24640 at this price = 24640/770 = 32."},{"id":"61f2bd8c-9b0d-436c-8d9d-cdf82ed9f7e0","order":9,"statement":"Rama sold a mobile for Rs. 15,000, at 35% profit. At what price should he selll it to have a 10%?","options":{"A":"Rs. 15,000","B":"Rs. 10,000","C":"Rs. 17,000","D":"Rs. 14,000"},"correctOption":"B","solution":"CP of mobile = (SP×100)/(100+profit) = (15000×100)/135 = 100000/9. For a 10% loss, new SP = CP×90/100 = (100000/9)×(90/100) = Rs. 10,000."},{"id":"bef28358-9b1c-4b0e-ae2a-ac592938f497","order":10,"statement":"Shreya sold her watch for Rs. 960 and incurred 40% loss. In order to obtain a profit of 30%. What should be the selling price of the watch?","options":{"A":"Rs. 2,200","B":"Rs. 2,180","C":"Rs. 2,080","D":"Rs. 2,240"},"correctOption":"C","solution":"Selling price = 60% of CP, so 0.6×CP=960, giving CP=Rs.1,600. For a 30% profit, SP=1.3×1600=Rs.2,080."}]}