!! Profit Loss tricky solution !! 12 good questions with tricky solution 1. A trader uses a 800gm weight instead of 1 kg. Find his profit %. Soln: (He is buying 800 gm but selling 1000 gm. So, CP is for 800 gm and SP is for 1000 gm.) SP/CP = 1000/800 = 1.25 => 25% profit. 2. A trader uses 1 kg weight for 800 gm and increases the price by 20%. Find his profit/loss %. Soln: 1 kg weight for 800 gm => loss (decrease) => 800/1000 = 0.8 20% increase in price => profit (increase) => 1.2 So, net effect = (0.8) X (1.2) = 0.96 => 4% loss. 3. A milk vendor mixes water to milk such that he gains 25%. Find the percentage of water in the mixture. Soln: To gain 25%, the volume has to be increased by 25%. So, for 1 lt of milk, 0.25 lt of water is added => total volume = 1.25 lt % of water = 0.25 / 1.25 X 100 = 20%. 4. A trader bought an item for Rs. 200. If he wants a profit of 22%, at what price must he sell it? Soln: CP=200, Profit = 22%. So, SP = 1.22CP = 1.22 X 200 = 244/-. 5. A person buys an item at Rs. 120 and sells to another at a profit of 25%. If the second person sells the item to another at Rs. 180, what is the profit % of the second person? Soln: SP of 1st person = CP of 2nd person = 1.25 X 120 = 150. SP of 2nd person = 180. Profit % = SP/CP = 180/150 = 1.2 => 20%. 6. A milk vendor mixes water to 20 lt of milk such that the ratio of milk and water is 4:3. He sold the mixture at Rs. 12 per liter but bought the milk at Rs. 10 per liter. Find the profit % of the vendor. Soln: milk : water = 4:3 => he bought 4 parts (milk) but sold 7 parts (mixture) CP = 10 and SP = 12. So, profit % = (SP/CP) X (SP/CP) = (7/4) X (12/10) = 2.1 => 110% gain. 7. A trader buys some apples at a price of 10 apples for Rs. 8 and sold them at a price of 8 apples for Rs. 10. Find his profit or loss %. Soln: He bought 10 apples for Rs. 8 and sold 8 apples for Rs. 10 => clearly got profit SP > CP => (SP/CP) X (SP/CP) = (10/8) X (10/8) = 100/64 = 1.5625 => 56.25 % gain. 8. A trader allows a discount of 25% on his articles but wants to gain 50% gain. How many times the CP should be marked on the items? Soln: CP applied with profit = MP applied with discount = SP 1.5CP = 0.75MP (since 50% gain and 25% discount) => MP = 2CP. 9. By selling an item at a price a trader gains 40%. What is the profit / loss % if the item is sold at half the price? Soln: SP =1.4CP => (SP/2) = 0.7CP => 30% loss. 10. A trader gets a profit of 25% on an article. If he buys the article at 10% lesser price and sells it for Rs. 2 less, he still gets 25% profit. Find the actual CP of the article. Soln: 25% gain => SP = 1.25CP…..1. Now, CP is 10% less => 0.9CP and SP is Rs. 2 less => (SP-2). Still, profit is 25% => (SP-2)=1.25(0.9CP) , where SP = 1.25CP (From 1) CP = Rs. 16. 11. A trader gets a discount of 20% from the dealer and marks it at 20% more price then the actual MP to the customer. Find his overall gain %. Soln: Let MP be the price on the item. Then, CP=0.8MP (20% discount) and SP = 1.2MP. So, gain => SP/CP = 1.2/0.8 = 1.5 => 50%. 12. A trader allows a discount of 20% to the customer after marking the item up by 25%. Find his gain/loss% if he is given a commission of 20% of the MP by the dealer. Soln: Trader’s SP = 0.8 X (1.25MP) = MP (since 20% discount on 25% raised price) Trader’s CP = 0.8 MP (20% commission) So, gain = SP/CP = MP/0.8MP = 1.25 => 25%.

Comments

Popular posts from this blog

Development Precedes Infrastructure: A Pragmatic Approach to India's Growth

Stay true to yourself. Don’t worry about what people think of you or about the way they try to make you feel. If people want to see you as a good person, they will. If they want to see you as a bad person, absolutely nothing you do will stop them. Ironically, the more you try to show them your good intentions, the more reason you give them to knock you down if they are commited to misunderstanding you. Keep your head up high and be confident in what you do. Be confident in your intentions and keep your eyes ahead instead of wasting your time on those who want to drag you back. Because you can’t change people’s views, you have to believe that true change for yourself comes from within you, not from anyone else.