# Profit & Loss practice set 1 for RRVUNL AE & JE,UPPCL AE,DMRC/NMRC,SSC JE,BSPHCL JE

__Profit & Loss Important formulas:__

**The price for which an article is purchased is called the Cost Price (C.P.)**

__Cost Price__:**The price at which an article is sold is called the Selling Price (S.P.)**

__Selling price__:**The price for which an article can be bought or sold i.e. the price at which the article is available to the market.**

__Market Price__:**The difference between the selling price and the cost price (when S.P. is more than C.P) is called the Profit.**

__Profit or Gain__:**The difference between the cost price and selling price (when C.P. is more than S.P.) is called the Loss.**

__Loss__:

__Important Point to be Remember__: The Loss or Gain is always Computation on the cost price only.
If,

**S.P**= Selling Price,**C.P**= Cost Price and**M.P**= Market Price,**Then the important formulas for profit & loss are as bellow:**

__Question No. 01__**A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is:**

(A) 5

^{15}*/*_{17}% loss
(B) 5

^{15}*/*_{17}% gain
(C) 6

^{2}*/*_{3}% gain
(D) None of
these

Answer:
Option

__Explanation:__
C.P. of 1

^{st}transistor = Rs. {(100/120) × 840} = Rs. 700
C.P. of 2

^{nd}transistor = Rs. {(100/96) × 960} = Rs. 1000
So, total
C.P. = Rs. (700 + 1000) = Rs. 1700

Total S.P. =
Rs. (840 + 960) = Rs. 1800

∴ Gain
% = {(100/1700) × 100} % = 5

^{15}*/*_{17}%

__Question No. 02__**In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?**

(A) 30%

(B) 70%

(C) 100%

(D) 250%

Answer:
Option B

__Explanation:__
Let C.P.=
Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420

New C.P. =
125% of Rs. 100 = Rs. 125

New S.P. =
Rs. 420

Profit = Rs.
(420 - 125) = Rs. 295

∴ Required
percentage = {(295/420) × 100} % = (1475/21) % = 70% (approximately).

__Question No. 03__**On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:**

(A) Rs. 45

(B) Rs. 50

(C) Rs. 55

(D) Rs. 60

Answer:
Option D

__Explanation:__
(C.P. of 17
balls) - (S.P. of 17 balls) = (C.P. of 5 balls)

=> C.P. of 12 balls = S.P. of 17 balls
= Rs.720

=> C.P.
of 1 ball = Rs. (720/12) = Rs. 60

__Question No. 04__**A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?**

(A) 3

(B) 4

(C) 5

(D) 6

Answer:
Option C

__Explanation:__
C.P. of 6 toffees
= Re. 1

S.P. of 6
toffees = 120% of Re. 1 = Rs. 6/5

For Rs. 6/5,
toffees sold = 6

For Rs. 1,
toffees sold = {6 × (5/6)} = 5

__Question No. 05__**A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?**

(A) Rs.
18.20

(B) Rs. 70

(C) Rs. 72

(D) Rs.
88.25

Answer:
Option C

__Explanation:__
C.P. = Rs.
{(100/122.5) × 392} = Rs. {(1000/1225) × 392} = Rs. 320

∴ Profit
= Rs. (392 - 320) = Rs. 72

__Question No. 06__**Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?**

(A) 3.5

(B) 4.5

(C) 5.6

(D) 6.5

Answer:
Option C

__Explanation:__
Cost Price
of 1 toy = Rs. (375/12) = Rs. 31.25

Selling
Price of 1 toy = Rs. 33

So, Gain =
Rs. (33 - 31.25) = Rs. 1.75

∴ Profit
% = {(1.75/31.25) × 100} % = (28/5) % = 5.6%

__Question No. 07__**When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?**

(A) Rs.
21,000

(B) Rs.
22,500

(C) Rs.
25,300

(D) Rs.
25,800

Answer:
Option C

__Explanation:__
Here, 85 :
18700 = 115 :

*x*
=>

*x*= (18700 × 115)/85 = 25300
Hence, S.P.
= Rs. 25,300.

__Question No. 08__**If selling price is doubled, the profit triples. Find the profit percent.**

(A) 66⅔

(B) 100

(C) 105

^{1}*/*_{3}
(D) 120

Answer:
Option B

__Explanation:__
Let C.P. be
Rs.

*x*and S.P. be Rs.*y*
Then, 3(

*y*-*x*) = (2*y*-*x*)
=>

*y*= 2*x*
Profit = Rs.
(

*y*-*x*) = Rs. (2*x*-*x*) = Rs.*x*
∴ Profit
% = {(

*x*/*x*) x 100} % = 100%

__Question No. 09__**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. 1090

(B) Rs. 1160

(C) Rs. 1190

(D) Rs. 1202

Answer:
Option C

__Explanation:__
S.P. = 85%
of Rs. 1400 = Rs. {(85/100) × 1400} = Rs. 1190

__Question No. 10__**100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is:**

(A) 14

^{2}*/*_{7}% gain
(B) 15 %
gain

(C) 14

^{2}*/*_{7}% loss
(D) 15 %
loss

Answer:
Option A

**Explanation:**
C.P. of 1
orange = Rs. (350/100) = Rs. 3.50

S.P. of 1
orange = Rs. (48/12) = Rs. 4

∴ Gain%
= {(0.50/3.50) × 100} % = (100/7) % = 14

^{2}*/*_{7}%**TO DOWNLOAD PDF CLICK HERE**

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