Profit and Loss

If the loss incurred in a transaction is 3/5th of the selling price, find the loss percent. A)29% B)33% C)37% D)37.5% Answer : Option D Explanation: Let the selling price be A. loss is 3A/5. Cost price = A + 3A/5 = 8A/5 Loss% = (3A/5) / (8A/5) * 100 = 37.5% A Boy buys an Book for Rs. 27.50 and sells it for Rs 28.60. Find his gain percent A)4% B)3% C)5% D)1% Answer : Option A Explanation: Here, C.P. = 27.50 S.P. = 28.60 Gain = 28.60 - 27.50 = Rs. 1.10 Gain%=(1.10/27.50x100)%=4% On selling 17 bags at Rs. 720, there is a loss equal to the cost price of 5 bags. The cost price of a bag is: A)Rs.40 B)Rs.60 C)Rs.50 D)Rs.30 Answer : Option B Explanation: [C.P. of 17 bags] - [S.P. of 17 bags] = [C.P. of 5 bags] C.P. of 12 bags = S.P. of 17 bags = Rs.720. C.P. of 1 ball = Rs.(720/12)= Rs. 60. A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle? A)Rs. 1190 B)Rs. 1160 C)Rs. 1200 D)Rs. 1090 Answer : Option A Explanation: S.P. = 85% of Rs. 1400 = Rs. (85/100 x 1400) = Rs. 1190 A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is: A)8% B)5% C)10% D)None of these Answer : Option B Explanation: C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600. S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680. Gain =(80/1680x100)%=5%

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