MeritTrac Profit and Loss Questions and Answers Quiz-1

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.

S.P. of x articles = Rs. 20.

Profit = Rs. (20 - x).

((20 - x)/x)* 100 = 25

2000 - 100x = 25x

125x = 2000

x = 16.

Video solution:

Let the S.P = 100
then C.P. = 25

Profit = 75

Profit% = 75/25 * 100 = 300%

Let the Cost price of the Chair is X.
SP = X - 25% of X
720 = 0.75X
X = 960.
CP = Rs. 960.
So, To gain 25%, SP would be
= 960 + 25% of 960 =Rs. 1200.

Short-cut
CP of chair = (100/75)*720 = Rs. 960;
To gain 25%, SP = (125/100)*960 = Rs. 1200.

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 % =1.75/31.25x 100% = 28/5% = 5.6%

Marked Price = 2000.
SP after first Discount of 20% = 2000 - 20% of 2000 = 1600.
SP after second Discount of 10% = 1600 - 10% of 1600 = 1440.
Now, the final selling price at cash = 1440 - 5% of 1440 = Rs. 1368.

Let the price of shirt and trouser be Rs. 100 and Rs. 200 respectively.
Then, price of set of shirt and trouser = Rs. 300.

After giving 30% discount on the set,
Selling Price = 300 - 30% of 300 = 210.
Total Discount on Set = 90.
And Discount on shirt is 20% alone,
SP of shirt alone = 100 - 40% of 100 = 60.
Rs. 40 is the discount on shirt then Rs. 50 must be
the discount on the trouser.
So, discount on trouser = (50*100)/200 = 25%.

Use Formula,
Equivalent Discount = (A + B) - (AB/100) where A = First Discount,
B =Second Discount.
Equivalent Discount = (20 + 10) - (20*10)/100
Equivalent Discount = 30 - 2 = 28%.

To get 20 % profit on whole,

1000(CP)==20%(gain)==>1200(SP).
Total Profit = 1200 - 1000 = Rs. 200.
400 ==10%(gain)==>440.
He gets Rs. 40 profit on 400 hundred. Rest Profit = 200 - 40 = 160.
Then he must get Rs. 160 as profit on Rs. 600;

Hence, % profit = 160*100/600 = 26.66%.