MATHS SOLVED IN STEPS: Profit and Loss - 02

16.  Aravind buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, what is his gain percent?

A. 12%     B. 10%      C. 44.7%      D. 5.45 %

Answer : Option D

Explanation :

Cost Price (CP) = 4700 + 800 = Rs. 5500

Selling Price (SP) = Rs. 5800.

Gain = (SP) - (CP) = 5800 - 5500= Rs. 300.

Gain%

= (GainCP)×100

= (300÷5500)×100

= 300÷55

= 60÷11

= 5.45

17. 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. 15 B. 25 C. 18 D. 16

Answer : Option D

Explanation :

Let the Cost Price (CP) of one article = 1

=> CP of x articles = x ------------------------------( 1)

CP of 20 articles = 20

Given that cost price of 20 articles is the same as the selling price of x articles

=> Selling price (SP) of x articles = 20--------------( 2)

Given that Profit = 25%

(SP-CP)÷CP

=25÷100=1/4------------( 3)

Substituting equations 1 and 2 in equation 3,

⇒(20-x) ÷x  =  1/4

⇒80-4x=x

⇒ 5x=80

⇒ x=80÷5

=16

18. If selling price is doubled, the profit triples. What is the profit percent?

A. 100 B. 105.33 C. 66.66 D. 120

Answer : Option A

Explanation :

Let the CP = x , SP = y

profit = SP –CP = y-x

If SP is doubled, SP = 2y

Now Profit = SP –CP = 2y - x

Given that If selling price is doubled, the profit triples

⇒2y–x=3(y-x)

⇒2y–x=3y-3x

⇒y=2x

⇒Profit%=(Profit÷CP)×100

=((y-x)÷x)×100

=((2x–x)÷x)×100

=(x÷x)×100=100%

19. In a shop, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, find out approximately what percentage of the selling price is the profit?

A. 250% B. 100% C. 70% D. 30%

Answer : Option C

Explanation :

Let the CP = 100

Profit=(320÷100)×100

=320

SP=CP+Profit=100+320=420

If the cost increases by 25%,

New CP=(125÷100)×100=125

Selling Price is constant, hence New SP=420

Profit=SP–CP=420–125=295

Required Percentage =(295÷420)×100

                                  =2950÷42

                                   =70(approximately)

20. sebastian bought bananas 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 :

CP of 6 bananas = 1

Gain = 20%

SP of 6 bananas=1×(120÷100)

=12÷10

⇒The number of bananas he should sell for Rs.1 for

a gain of 20%

=(10÷12)×6

=10÷2=5

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* MATHS (SOLVED IN STEPS ==> Ratio and Proportion
* MATHS (SOLVED IN STEPS ==> Progressions
* MATHS (SOLVED IN STEPS ==> Percentage
* MATHS (SOLVED IN STEPS ==> Surds and Indices
* MATHS (SOLVED IN STEPS ==> Calendar
* MATHS (SOLVED IN STEPS ==> Square and cube
* MATHS (SOLVED IN STEPS ==> Simplification
* MATHS (SOLVED IN STEPS ==> Problems on Average
* MATHS (SOLVED IN STEPS ==> HCF & LCM 
* MATHS (SOLVED IN STEPS ==> Profit and Loss
* MATHS (SOLVED IN STEPS ==> Problems on Trains 
* MATHS (SOLVED IN STEPS ==> Problems on Age 
* MATHS (SOLVED IN STEPS ==> Pipe and Cisterns
* MATHS (SOLVED IN STEPS ==> ODD MAN
* MATHS (SOLVED IN STEPS ==> TIME & WORK

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