Wednesday, November 11, 2015

17 Questions of Profit and Loss Explained through Video

After having a look at the important concepts of profit and loss it becomes important to revise all of them by having a look at their practical application in questions. Below are some very common questions which we see in competitive exams. It is important that you view the solution of these questions properly and revise them again and again. Also it is advisable to solve questions from your book using the concepts I had taught here. Any doubt while solving them can be asked using the comment section below. Your suggestions are most welcome as it would help me to assess my efforts and improve them accordingly to suit your needs.

Question 1. By selling 9 items, a loss of selling price of 3 items is incurred. What is the percentage loss incurred in the transaction ?

Question 2. A dealer sells a set of furniture for Rs. 900, which is 80 % more than the price he paid for it. At what price he must sell the same set to make 120 % profit on the cost price ?

Question 3. The cost price of a commodity is Rs. 1,331. By selling it at a discount of Rs. 100, the dealer makes a profit of 9.09 %. If he decides not to give any discount, what will be the profit earned by him ?

Question 4. After allowing a discount of 11.11 %, a trader still makes a gain of 14.28 %. At how much percentage above the cost price does he mark his goods ?

Question 5. Armaan buys few apples at 15 for a rupee and the same number of apples at 20 a rupee. He mixes the two lots and sells them at 35 for 2 rupees. What is his gain or loss percentage ?

Question 6. A man buys oranges at the rate of 6 for Rs. 2 and sells the whole lot at the rate of 7 for Rs. 3. In this process he gained Rs. 20. How many oranges did he purchase ?

Question 7. Shyam buys 2 lots of mangoes. The first lot costs him Rs. 30 per dozen and the second lot Rs. 50 per dozen. He sold all the mangoes at Rs. 40 per dozen. Find his profit or loss percentage if he spent the same amount of money on each of the lots.

Question 8. A trader marked the price of his goods 20 % more than his cost price. He then sells 1/4th of his stock at a discount of 10 %, and half of the stock at the marked price, and the rest at a discount of 25 %. Find his profit percentage.

Question 9. A dishonest shopkeeper at the time of selling and purchasing, weighs 10 % less and 20 % more per kilogram respectively. Find the profit percentage earned by the shopkeeper by doing this cheating if he professes to sell at Cost Price ?

Question 10. A dishonest dealer mixes 1 kg of sand with 5 kg of rice and sells the entire mixture at 25 %  more than the cost price of rice, what is his net percentage profit in this transaction ?

Question 11. By selling toffees at 56 a rupee, a vendor loses 30 %. How many toffees for a rupee should he sell in order to gain 40 % ?

Question 12. Sanam buys two watches for Rs. 1000 each. He sells one at a profit of 10 % and the other at a loss of 10 %. What is the gain or loss percentage in the transaction ?

Question 13. A man sold two commodities for Rs. 1200 each, neither losing nor gaining in the deal. If he sold one commodity at a gain of 29 %, the other commodity would have been sold at a loss of ?

Question 14. The cost of manufacturing a commodity increased by 20 %. A trader who did not revise the selling price noted that there was a drop of Rs. 20 in his profit. What is the original cost price ?

Question 15. An apple vendor makes a profit of 20 % by selling apples at a certain price. If he charges 1.2 times higher per apple he would gain 40 %. Find the original price at which he sold an apple ?

Question 16. A toy and a softy were sold for Rs. 564, making a profit of 25 % on the toy and a profit of 20 % on the softy. By selling the toy and the softy for Rs. 563, the profit would be 20 % on the toy and 25 % on the softy. Find the ratio of difference and the sum of the cost prices of the toy and the softy ?

Question 17. A television set listed at Rs. 3200 is sold to a retailer at a successive discount of 25 % and 15 %. The retailer desires a profit of 20 % after allowing a discount of 10 % to the customer. At what price should he list the television set ?

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