Exercise : Profit Loss - General Questions
✔ Profit Loss -
General Questions
21.
A person sold 2/3 of his stock at a 20% profit and the rest at a 14% profit. Find his overall profit percentage.
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Answer: Option C
Explanation:
Explanation:
Overall Profit % = \((\frac{2}{3} \times 20) + (\frac{1}{3} \times 14) = \frac{40+14}{3} = 18\%\).
22.
A shopkeeper cheats 10% while buying and 10% while selling using false weights. Find his total gain percentage.
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Answer: Option B
Explanation:
Explanation:
Total Gain % = \(x + y + \frac{xy}{100} = 10 + 10 + \frac{10 \times 10}{100} = 21\%\).
23.
Two items are sold for $990 each. One is sold at a 10% profit and the other at a 10% loss. Find the total gain or loss in dollars.
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Answer: Option B
Explanation:
Explanation:
There is always a loss of \(\frac{10^2}{100} = 1\%\). Total SP = \(1980\). \(0.99 \times \text{Total CP} = 1980 \implies \text{Total CP} = 2000\). Loss = \(2000 - 1980 = 20\).
24.
A manufacturer sells to a wholesaler at 10% profit, the wholesaler to a retailer at 20% profit, and the retailer to a customer at 25% profit. If the customer pays $1,650, find the manufacturer's Cost Price (CP).
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Answer: Option A
Explanation:
Explanation:
\(CP \times 1.1 \times 1.2 \times 1.25 = 1650 \implies CP \times 1.65 = 1650 \implies CP = 1000\).
25.
The profit earned by selling an article for $832 is equal to the loss incurred when it is sold for $448. What should be the Selling Price (SP) for a 10% profit?
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Answer: Option B
Explanation:
Explanation:
\(CP = \frac{832 + 448}{2} = 640\). New SP for 10% profit = \(640 \times 1.1 = 704\).