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Profit and Loss Objective questions and answer

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1.) An article is sold at certain price. By selling it at 2/3 of its price one losses 10%, find the gain at original price?

A.      42%                       B. 57%

C.      68%                       D. None of these

View Answer

Answer: Option D


Let the original s.p be Rs x. then now S.P=Rs 2x/3, loss=10%

Now C.P=Rs 20x/27 * 27/20x * 100)% = 35%


2.)  A tradesman sold an article at a loss of 20%.if the selling price has been increased by Rs100, there would have been a gain of 5%.what was the cost price of the article?

A.      290                         B. 350

C.       400                        D. None of these

View Answer

Answer: Option C


Let C.P be Rs x. then (105% of x)-(80 % of x) =100 or 25% of x=100

--->> x/4 = 100 or x=400

---->> so, C.P = Rs 400


3.)  A man sells an article at a profit of 25%if he had bought it 20% less and sold it for Rs 10.50 less, he would have gained 30%find the cost price of the article.

A.       42                          B. 57

C.       50                          D. None of these

View Answer

Answer: Option C


Let the C.P be Rs x

1st S.P=125% of x =125x/100=5x/4; 2nd S.P=80% of x=80x/100=4x/5

2nd S.P=130% of 4x/5= (130/100*4x/5) =26x/25

=> 5x/4-26x/25=10.50

=> x= (10.50*100)/21=50

Hence C.P= Rs.50

4.) A man 2 flats for Rs 675958 each on one he gains 16% while on the other he losses 16%. How much does he gain/loss in the whole transaction?

A.     2.56 %                     B. 7.18%

C.      11.40%                   D. None of these

View Answer

Answer: Option A


In this case there will be always loss. The selling price is immaterial

Hence, loss % = (common loss and gain %) 2 /10= (16/10) %=( 64/25) %=2.56%

 5.) A man bought a horse and a car ridge for Rs 3000. He sold the horse at a gain of 20% and the carriage at a loss of 10%, thereby gaining 2% on the whole. Find the cost of the horse.

A.       42.60 %                       B. 57.18%

C.       68.40%                        D. None of these

View Answer

Answer: Option A


Let the C.P of the horse be Rs. x, then C.P of the carriage =Rs (3000-x)

20% of x-10% of (3000-x) =2% of 3000

==> x/5-(3000-x)/10=60=.2x-3000+x=600=.3x+3600=>x=1200

==> hence, C.P of the horse =Rs 1200

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