Profit and Loss
- A shopkeeper marks his goods at such a price that he can deduct 20% for cash and yet make 20% profit. The marked price of an item which cost him ₹ 180 is ?
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CP = ₹ 180, gain = 20%
∴ SP = (120/100) x 180 = ₹ 216
Let the MP be ₹ P.
Then, 80% of P = 216Correct Option: A
CP = ₹ 180, gain = 20%
∴ SP = (120/100) x 180 = ₹ 216
Let the MP be ₹ P.
Then, 80% of P = 216
∴ (80/100) x P = 216
⇒ P = (216 x 100)/80 = 270
Thus, MP is ₹ 270.
- A trader allows a discount of 10% on the marked price of an article. How much percentage above the cost price the article be marked to make a profit of 17% ?
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Let the CP be ₹ 100 and let MP be ₹ x above ₹ 100.
Then, MP = ₹ (100 + x) and discount =10%
∴ SP = [(90/100) x (100 + x)] = ₹ 177Correct Option: B
Let the CP be ₹ 100 and let MP be ₹ x above ₹ 100.
Then, MP = ₹ (100 + x) and discount =10%
∴ SP = [(90/100) x (100 + x)] = ₹ 177
⇒ x = 30
So, cost should be labelled at 30% above CP.
- Ravi purchased a scooter at 11/13th of its marked price and sold it at 10% more than its marked price. His gain per cent is ?
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Let the MP of a scooter = ₹ P
∴ CP of a scooter= ₹ 11P/13, Gain = 10%
SP = (110/100) x P= ₹ 11P/10
Gain = SP - CP = (11P/10 - 11P/13) = (143P - 110P)/130 = ₹ 33P/130Correct Option: C
Let the MP of a scooter = ₹ P
∴ CP of a scooter= ₹ 11P/13, Gain = 10%
SP = (110/100) x P= ₹ 11P/10
Gain = SP - CP = (11P/10 - 11P/13) = (143P - 110P)/130 = ₹ 33P/130
Gain percentage = (33P/130) x (13/11P) x 100 % = 30%
- A dealer buys an article marked at ₹ 40000 with 20% and 10% off. He spends ₹ 1200 on its repairs and sells it for ₹ 30000. What is his gain or loss per cent ?
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CP. = (80% of 90% of ₹40000) + ₹(1200)
Correct Option: C
CP. = (80% of 90% of ₹40000) + ₹(1200)
= [(80/100) x (90/100) x 40000] + 1200
= (28800 + 1200)
= ₹30000
∴ CP = ₹30000
So, no gain no loss in the transaction.
- A dishonest dealer professes to sell his goods at cost price. But he uses a false weight of 900 g per 1 kg weight. Find his gain percent ?
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Gain percentage = [Error/(True value - Error)] x 100 %
= [(100/(1000 - 100)] x 100 %Correct Option: A
Gain percentage = [Error/(True value - Error)] x 100 %
= [(100/(1000 - 100)] x 100 %
= (100/900) x 100 %
= 111/9%