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Profit and Loss Questions

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A milkman bought 15 kg of milk and mixed 3 kg of water in it. If the price per kg of the mixture becomes Rs. 22, what is cost price of the milk per kg?


ARs. 28.00

BRs. 26.40

CRs. 24.00

DRs. 22.60

Answer: Option B

Explanation:

Cost of 1 kg of mixture = Rs. 22
Cost of (15 + 3) kg of mixture = (18 * Rs 22) = Rs. 396
As water is free so Rs. 396 is the actual cost of 15 kg of milk
so cost of 1 kg of milk = (396 /15) = Rs. 26.40

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The cost of two articles are in the ratio 3 : 5. If there is 30% loss on the first article and 20% gain on the second article, what is overall percentage of loss or gain?


Aa gain 2.25%

Ba loss 1.25%

Ca loss 2%

Da loss 2.25%

ENone of these

Answer: Option B

Explanation:

1st Article
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CP = Rs. 3;
Loss of 30% so Loss = 3 x 30/100 = 0.9
SP = Rs. 2.1
2nd Article
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CP = Rs. 5;
gain of 20% so Gain = 5 x 20/100 = 1
SP = Rs. 6

Total CP = Rs.(3 + 5) = Rs. 8
Total SP = Rs.(2.1 + 6) = Rs. 8.1
CP < SP so He is making gain .
Gain = Rs. (8.1 - 8) = Rs. 0.1

Gain % = (0.1 x 100)/8 = 10/8 = 1.25%

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A person bought 8 quintal of rice for certain rupees. He sold 3 quintal of rice at 10% profit. After a week, he sold 3 quintal of rice with neither profit nor loss and 2 quintal at 5% loss. In this transaction, what is the profit?


A10%

B20%

C25%

D2.50%

ENone of these

Answer: Option D

Explanation:

Let's assume cost price for 1 Quintal = Rs.100
Total CP = Rs. 8 x 100 = Rs. 800
SP of first 3 kg = Rs. 3 x 110 = Rs. 330
SP of next 3 kg = Rs. 3 x 100 = Rs. 300
SP of 2 kg = Rs. 2 x 95 = Rs. 190
Total SP = Rs. 820
Profit = Rs. 20
Profit% = (20/800) * 100% = 2.5%

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A person sold an article for Rs. 136 and made a loss of 15%. If he sold it for Rs. x, he would have made a profit of 15%. Which one of the following is correct?


A190 < x < 200

B180 < x < 190

C170 < x < 180

D160 < x < 170

Answer: Option B

Explanation:

CP = (100 x 136)/85 = 160
Now new SP at 15% profit = (160 x 115)/100 = 184
Clearly, 180 < x < 190

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A man sold two watches, each for Rs. 495. If he gained 10% on one watch and suffered a loss of 10% on the other, then what is the loss or gain percentage in the transaction?


A1% gain

B1% loss

C2 % loss

D2% gain

ENo gain no loss

Answer: Option B

Explanation:

In such type of Questions, there will be always a Loss
Formula Used: Loss% = ((common Loss and Gain)/10)2
= (10 /10)2 = 1 % loss

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On selling an article for Rs. 240, a trader loses 4 %. In order to gain 10 %, he must sell the article for


ARs. 275

BRs. 280

CRs. 285

DRs. 300

Answer: Option A

Explanation:

Given S.P. = Rs. 240; and Loss = 4 %
? 96 % of C.P. = Rs. 240
? C.P. = (240 x 100)/96 = Rs. 250
10% profit on C.P. = Rs. 25
so S.P. with 10 % profit = 250 + 25 = Rs. 275

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A man bought a number of oranges at 3 for a rupee and an equal number at 2 for a rupee. At what price per dozen, should he sell all to make a profit of 20 %?


ARs. 4

BRs. 5

CRs. 7

DRs. 6

Answer: Option D

Explanation:

If 3 Orange for a rupee
so 12 Orange (1 dozen) for Rs. 4 => Rs. 4 per dozen
If 2 Orange for a rupee
so 12 Orange (1 dozen) for Rs. 6 => Rs. 6 per dozen

Cost price for 2 dozens = Rs. 10 or Rs. 5 per dozen
? To gain 20% = (120 x 5)/100 = Rs. 6 per dozen.
so he must sell them for Rs. 6 per dozen to gain 20% .

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A trader sells two cycles at Rs. 1,188 each and gains 10 % on the first and loses 10 % on the second. What is the profit or loss percent on the whole?


A1 % loss

B1 % gain

C2 % loss

DNo loss or gain

Answer: Option A

Explanation:

In such type of Questions, there will be always a Loss
Formula Used: Loss% = ((common Loss and Gain)/10)2
= (10 /10)2 = 1 % loss

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A milk vendor bought 28 liters of milk at the cost of Rs. 8.50 per liter. After adding some water, he sold the mixture at the same price. If he gains 12.5%, how much water did he add?


A5.5 liters

B4.5 liters

C3.5 liters

D2.5 liters

Answer: Option C

Explanation:

If the milk vendor wants to gain 100% of CP, he must add 28 liters of water
Similarly if the milk vendor wants to gain 12.5 %, he has to add water 12.5% of 28 ltr.
=> water to be added = 12.5 % of 28 = 3.5 liters

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Ram mixed 24 kg of butter at Rs. 150 per kg with 36 kg butter at the rate of Rs. 125 per kg. At what price per kg should he sell the mixture to make a profit of 40% in the transaction?


ARs. 135

BRs. 162

CRs. 189

DRs. 198

ENone of these

Answer: Option C

Explanation:

CP per kg of mixture = [24(150) + 36(125)]/(24 + 36) = Rs. 135
SP = CP[(100 + profit%)/100]
= 135 * [(100 + 40)/100] = Rs. 189.

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