Mathematical Aptitude - Profit and Loss

1. An umbrella was sold at a profit of 20%. What is the selling price of the umbrella if the shopkeeper procured it at a cost of Rs 180?

  • Option : B
  • Explanation : Substituting values in the formula above, we get:
    Selling price = [(100 + 20)/100] × 180
    Selling price = 12 × 18
    Selling price = 216
    Therefore, the selling price of this umbrella is Rs 216.
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2. Ram buys some paper wind fans at 4 per rupee. He then buys the same number of paper wind fans from another shop at 5 per rupee. He puts them all together and sells them at 4 per rupee. Will he make a profit or incur a loss? How much?

  • Option :
  • Explanation : 1 wind fan C.P. in 1st shop = Rs 1/4 and 1 wind fan C.P. in 2nd shop = Rs 1/5
    On mixing these 2 wind fans, the cost price of these 2 will be = 1/4 + 1/5 = Rs 9/20
    So, C.P. of 1 wind fan = (9/20)/2 = Rs 9/40.
    Actual price at which 1 wind fan is sold after combining = Rs 1/4
    S.P. – C.P. = 1/4 - 9/40 = 1/40 = Tt is positive; so it is profit
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3. Romit sold his old TV and earned a profit of 10%. If he could have managed to sell it for `8100 more, then his profit would have been be 37%. Find the price at which he bought the TV?

  • Option : A
  • Explanation : 1st profit = 10%
    If Romit sells TV for `8100 more, then profit = 37%
    S.P. = (100 + Profit%)% of C.P.
    ∴ SP1 + 8100 = SP2
    ∴ (110)% C.P. + 8100 = (137)% C.P.
    ∴ 27% of C.P. = 8100
    ∴ C.P. = (8100 X 100)/27 = Rs 30000
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4. A man bought a horse for a certain sum and sold it at a loss of 8% on his outlay. If he had received `1800 more, then he would have gained 141/2 % on his outlay. What did the horse cost?

  • Option : D
  • Explanation : C.P. = (Difference in S.P.) ÷ (% Difference in profit) C.P. of the horse = 1800 × 100/14.5–(–8) = 1800 × 100/22.5 ⇒ C.P. = 8000.
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5. A man purchases two pens for Rs 740. He sells one at 12 % profit and the other at 8% loss. Then he neither gains nor loses. Find the cost price of each pen (in Rs).

  • Option : B
  • Explanation : C.P. of 2 pens = 740. Let C.P. of 1st pen be x and C.P. of 2nd pen be y.
    Since there is no profit and loss in the whole transaction, so 12% of x = 8% of y
    ⇒ x : y = 2 : 3
    Hence the cost of first pen = (2/3) × 740 = Rs 296 and that of the second pen = (3/5) × 740 = Rs 444.
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