CP & SP SET 6

Q.1 If selling price of an article is   of its cost price, the percentage profit in the transaction is
A)  %
B) 98 %
C) 33  %
D) None of these
Ans. C

S.P. = 4/3 C.P. 
Profit = S.P. ??C.P. =   C.P. – C.P. =  
%profit =   x 100 = 33 %

Q.2 By selling a doll at $342, Mac lost 5%.At what price should he have sold it to gain 5%?

A) $378
B) $380
C) $410
D) $462

Ans. A

If cost price of the doll is x, 0.95 x = 342
? x =   = $360
Now to gain 5%, new selling price = 1.05 x 360 = $378
Q.3 If a dealer were to diminish the selling price of his wares by 10% he would double his sale making the same profit as before . In what ratio his profit diminsh if he were to increase his selling price by 10% and thereby half his sale

A) 20 % 

B) 25 %

C) 30 %

D) 35 %

Ans. B

Let CP of each article be ‘x’, SP of each article be ‘y’ and nos. of articles sold be ‘z’.
therefore, profit = z*(y-x)

case 1: 
Profit (P1) = z*(y-x) = 2z*(0.9y – x)
solving for x and y we get:
x = 0.8y ……………eq.1

therefore P1 = 0.2yz….eq.2

case 2:
Profit P2 =  0.5z*(1.1y – x) ……….eq.3
putting eq.1 in eq.3 we get:
P2 = 0.15yz

therefore ratio of diminishing profit = (P1 – P2)/P1 = 1/4 or 25% 🙂 

Ratio of diminishing profit: 1/4. % of diminishing profit = 25%

Q.4 How much percent must be added to the cost price of goods so that a profit of 20% must be made after giving a discount of 10% from the market price?

A) 33 1/3

B) 32 1/3

C) 33 ½

D) 32 ½

Ans. A

Let Mp= 100 Rs
Sp after 10% discount = 100*90/100=90
to have profit of 20%.
120% CP=selling price
CP=SP/120*100=90/120*100=75Rs
MP is 25Rs more than Cp
percentage added amount =25/75*100=33 1/3%

Q.5 A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:
A) No profit & No loss
B) 5 % 
C) 8 %
D) 10 %
Ans. B
 
Explanation:
C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.
S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.
  Gain = 80 x 100 % = 5%.
1600