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Doubts of Profit and Loss

In this forum, please discuss the questions appearing in the QA class sheets :especially the practice and the DS questions at the end of the sheet.

Doubts of Profit and Loss

Postby sadmin » Tue Feb 26, 2013 9:46 am

Dear ALL,
HERE is the link for the class sheet on Profit and Loss

best wishes
Manish
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Re: Doubts of Profit and Loss

Postby gaurav1399 » Thu Feb 28, 2013 12:16 pm

studentservices@pfindia.com
Sir I have doubt in the following questions:
5,8,18,19,24,25,27
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Re: Doubts of Profit and Loss

Postby sadmin » Thu Feb 28, 2013 12:18 pm

these questions are from the set of practice questions or from the set of main questions?
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Re: Doubts of Profit and Loss

Postby sadmin » Thu Feb 28, 2013 12:18 pm

sir my doubts are
practice section:5,8
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Re: Doubts of Profit and Loss

Postby sadmin » Thu Feb 28, 2013 12:20 pm

5. 30% loss on cost price is what percent loss on the
selling price ?

Solution
Assume - CP = Rs 100 loss = Rs 30
SP = CP-Loss = 100- 30 = Rs 70
Loss as a percent of sp = 30/70 x 100 = 42.8 %

8. By selling 36 bananas, a vender loses the selling price
of 4 bananas. Find his loss percent.

Solution

Total cost = Total Revenue + Total Loss

36CP = 36 SP + 4 SP
SP/CP = 9/10
On simplifying we have loss = 10 5

18. A man bought an article and sold it at a loss of 5% . If he
had bought it for 10% less and sold it for Rs. 15.30
more, he would have made a profit of 15% . Find the
cost price of the article.
Solution:
Let the initial CP = X then the initial SP = 0.95 X
next CP = 0.9 X ( 10% less) Next SP = 0.95X+15.3 (15.3 more than the previous one)

Profit % = [(0.95x+15.3)/0.9x -1]*100

Ans:Rs 180


19. A man sells his car for Rs. 5000 and loses somethings.
Had he sold it for Rs. 5600 his gain would have been
double the former loss . Find his cost price .

Solution

Let Cost price of the car = CP
CP- 5000 = loss
5600- CP = 2(loss)
Loss = Rs 200
Initial CP = 5000 + 200 = Rs 5200

23./Practice Questions On a certain commodity a manufacturer takes 20% profit,
whole seller 25% profit and a retailer 40% profit. If a
consumer purchased the article for Rs. 350, find out its
manufacturing cost.
(a) 150 (b) 3
2 166 © 2

Solution:

Let C be the cost of the manufacturer. If the manufacturer sells at 20% profit then he must sell at 1.2C; like wise if the wholeseller sells at 25% profit, he must sell at 1.25 x 1.2C - Thus the final price to the consumer should be 1.2 X 1.25X1.4 X C

1.2 X 1.25X1.4 X C = 350
CP = Rs 166.66

24. A radio is sold at a profit of 25%. Cost price and selling
price both are increased by Rs. 100. If the new profit is
at the rate of 20% , find the original cost of the radio.
(a) 400 (b) 421 © 415 (d) 408

23. A shopkeeper marks his goods in such a way that after
allowing a discount of 10%, he gains 26%. How much
percent above the cost price is the marked price ?

Solution

Let the CP = Rs 100
Profit = Rs 26 therefore SP= Rs 126
But this SP must have been reached after providing a discount of Rs 10%
Therefore the SP must be equal to 90% of the MP

90% OF MP = 126 OR MP = Rs 140
Thus the MP must be 40 % above the CP.

24. A merchant marked his goods at 40% above what he
had paid for them. He was able to sell half the goods at
their marked price, but to sell the remainder, he had to
allow a discount of 10%. Find his gain %.

Solution

Assume that the merchant bought 100 units of goods at RE 1 each.
Total cost of his purchase = Rs 100
MP = Rs 1.4
Revenue earned = 1.4 x 50 (half the goods at the marked price) + 1.26x 50 ( half the goods at 10% discounted price) = 70 + 63 = 133
Profit earned by the merchant = Rs 33 on 100 that is 33 %

25. A trader marks the price of the radio 40% above the cost
price and allows 10% discount for paying cash on the
spot. If he gains Rs. 65, what is the cost of the radio?
Solution
Assume the COST price of the radio = X
MP = 1.4 X
SP = 0.9 * 1.4X
Profit = 0.9*1.4X-X=65
X =65/0.26 = Rs 250

27. A person bought two clocks . The cost price of one of
them exceeds by 1/4th of the cost of other. He sold the
dearer one at a gain of 10% and the other at a gain of
7.5% and thus got Rs. 98 in all. Find the cost of each .
Solution
Assume the cost of cheaper clock = X
The cost of the dearer clock = X +X/4 = 5/4 X
SP of the dearer clock = 1.1 * 5/4 X
SP of the cheaper one = 1.075*X
Total Revenue on both the clocks = 1.1 * 5/4 X + 1.075*X = 98
or 2.45 X = 98 or X = Rs 40
Thus the price of the dearer clock = Rs 50
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Re: Doubts of Profit and Loss

Postby sadmin » Thu Feb 28, 2013 12:20 pm

5. The difference between the selling price of a clock at a
profit of 8% and 10% is Rs. 6. Find his gain percent.

Solutions

SP at a 8% gain = 1.08 CP and SP at a 10% gain = 1.10 CP

1.1CP - 1.08 CP = 6
0.02 CP = 6
CP =Rs300

8. A businessman sells 20% of his stock at 10% profit;
50% of the remainder, he sells at 10% loss. At what
percent profit, he must sell the remainder stock, so as
to get 5% profit on the total stock ?
Solution

Assume that the merchant bought 100 units at Re1 per unit
Cost of the merchant= Rs 100
Revenue = 20 * 1.2 + 40 *0.8 + 40 * x= 105

Note :the total revenue for 5 % gain must be Rs 105
x = 47/40 or x =1.175

THERE FORE THE remaining stock must be sold at a profit of 17.5 %
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