Profit and Loss
- If the cost price of 20 articles is equal to the selling price of 15 articles, find the profit per cent.
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Given that, a = 20 and b = 15
According to the formula,
Profit %= [(a - b) / b] x 100 %Correct Option: B
Given that, a = 20 and b = 15
According to the formula,
Profit %= [(a - b) / b] x 100 %
= (5/15) x 100% = 100/3 %
= 331/3%
- A dishonest dealer professes to sell his goods at cost price but he uses a weight of 920 g for 1 kg weight. Find his gain per cent
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According to the formula,
Gain% = [Error / (True value - Error)] x 100%
= [80/(100 - 80)] x 100%Correct Option: B
According to the formula,
Gain% = [Error / (True value - Error)] x 100%
= [80/(100 - 80)] x 100%
= (80/920) x 100%
= 816/23 %
- A dealer sells goods at 4% loss on cost price but he uses 28 g instead of 32 g. What is his per cent profit or loss ?
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Given that, a = 4%, b = 28 g and c = 32 g
Required profit = [(100 - a) x (c/b) -100] %
=[(100 - 4) x (32/28) - 100] %
= [96 x (32/28) - 100]%Correct Option: A
Given that, a = 4%, b = 28 g and c = 32 g
Required profit = [(100 - a) x (c/b) -100] %
=[(100 - 4) x (32/28) - 100] %
= [96 x (32/28) - 100]%
= [(96 x 8)/7 - 100]%
= (768 - 700)/7 %
= 68/7 %
= 95/7 % gain
+ ve sign shows that profit is earned here.
- A dealer bought 80 cricket bats for ₹ 50 each. He sells 20 of them at a gain of 5%. What must be the gain percentage of the remaining bats, so as to get 10% gain on the whole ?
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Let required percentage profit = N%
According to the question,
10% of (80 x 50) = 5% of (20 x 50) + N% of (60 x 50)Correct Option: C
Let required percentage profit = N%
According to the question,
10% of (80 x 50) = 5% of (20 x 50) + N% of (60 x 50)
⇒ (80 x 50 x 10)/100 = [(20 x 50 x 5)/100] + (60 x 50 x N)/100
⇒ 80 = 10 + 6N
⇒ N = 70/6 = 112/3%
- A furniture seller sells two tables ₹ 1500 each. He earned a profit of 20% on one table and suffered a loss of 20% on the another table. Net profit or loss in this deal is
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Required loss = (a/10)2 %
Correct Option: A
Required loss = (a/10)2%
= (20/10)2% = 4%
Thus, seller gets 4% loss in the deal.