Exercise : Profit Loss - General Questions
✔ Profit Loss -
General Questions
1.
Find the profit or loss if the Cost Price (CP) is $500 and the Selling Price (SP) is $650.
View Answer
Answer: Option A
Explanation:
Explanation:
Profit is calculated as \(SP - CP\). In this case, \(650 - 500 = 150\). Since SP is greater than CP, it is a profit.
2.
Calculate the profit percentage if the Cost Price (CP) is $1,200 and the Selling Price (SP) is $1,500.
View Answer
Answer: Option B
Explanation:
Explanation:
Profit = \(1,500 - 1,200 = 300\). Profit percentage = \(\frac{\text{Profit}}{CP} \times 100 = \frac{300}{1200} \times 100 = 25\%\).
3.
An article bought for $80 is sold at a loss of 10%. Find the Selling Price (SP).
View Answer
Answer: Option B
Explanation:
Explanation:
SP = \(CP \times (1 - \text{Loss Percentage}) = 80 \times 0.90 = 72\).
4.
Selling an item for $450 yields a 25% profit. Find the Cost Price (CP).
View Answer
Answer: Option B
Explanation:
Explanation:
\(CP = \frac{SP}{1 + \text{Profit Percentage}} = \frac{450}{1.25} = 360\).
5.
A man loses 20% by selling a toy for $48. What was the Cost Price (CP)?
View Answer
Answer: Option B
Explanation:
Explanation:
\(CP = \frac{SP}{1 - \text{Loss Percentage}} = \frac{48}{0.80} = 60\).
6.
The ratio of Cost Price (CP) to Selling Price (SP) is 5:6. Find the profit percentage.
View Answer
Answer: Option B
Explanation:
Explanation:
Let CP = 5 and SP = 6. Profit = \(6 - 5 = 1\). Profit % = \(\frac{1}{5} \times 100 = 20\%\).
7.
By selling 33 meters of cloth, a man gains the Cost Price (CP) of 11 meters. Find the gain percentage.
View Answer
Answer: Option B
Explanation:
Explanation:
Gain % = \(\frac{\text{Gain in units}}{\text{Total units sold}} \times 100 = \frac{11}{33} \times 100 = 33.33\%\).
8.
If the Cost Price (CP) of 15 articles is equal to the Selling Price (SP) of 12 articles, find the gain percentage.
View Answer
Answer: Option B
Explanation:
Explanation:
\(15CP = 12SP \implies \frac{SP}{CP} = \frac{15}{12} = \frac{5}{4}\). Gain = \(\frac{5-4}{4} \times 100 = 25\%\).
9.
An item was sold at a 10% loss. Had it been sold for $9 more, there would have been a 5% gain. Find the Cost Price (CP).
View Answer
Answer: Option B
Explanation:
Explanation:
The difference between a 10% loss and a 5% gain is \(5\% - (-10\%) = 15\%\). Thus, \(15\% \text{ of } CP = 9 \implies CP = \frac{9 \times 100}{15} = 60\).
10.
A fruit seller buys lemons at 2 for $1 and sells them at 5 for $3. Find his gain percentage.
View Answer
Answer: Option C
Explanation:
Explanation:
CP of 10 lemons = \(5. SP of 10 lemons = \)6. Gain = \(\frac{6-5}{5} \times 100 = 20\%\).