Profit and Loss Questions

A seller sells 12 chairs at a profit of 12% and 4 chairs at a loss of 3%. If his total profit is ` 1650, the cost price of each chair is:

• ` 1490

• ` 1250

• ` 1100

• ` 1380

Answer explanation

Let the cost price of each chair be x. Profit from 12 chairs = 12% of 12x = 1.44x. Loss from 4 chairs = 3% of 4x = 0.12x. Total profit: 1.44x - 0.12x = 1.32x = 1650. Thus, x = 1250.

2/3 part of an item sold at a profit of 6% and the remaining part was sold at a loss of 3%. If the total profit is ` 540, then what was the total cost of the item?

• `17, 000

• `18, 000

• `16, 500

• `18, 500

Answer explanation

Let the total cost be x. Profit from 2/3 at 6% = 0.06 * (2/3)x = 0.04x. Loss from 1/3 at 3% = 0.03 * (1/3)x = 0.01x. Total profit = 0.04x - 0.01x = 0.03x. Setting 0.03x = 540 gives x = 18000.

Sharad bought two bags for ` 900. He sold one of them at a profit of 25% and other at a loss of 25%. If the selling price both the bags is same, then the cost prices of both the bags are:

• ` 437.5 and ` 462.5

• ` 330 and ` 570

• ` 347.5 and ` 552.5

• ` 337.5 and ` 562.5

Answer explanation

Let the cost prices of the bags be x and y. Then, x + y = 900. Selling price of first bag = 1.25x, second bag = 0.75y. Since selling prices are equal, 1.25x = 0.75y. Solving these equations gives x = 337.5 and y = 562.5.

The difference between a loss of 13% and a profit of 15% was ` 63. The cost price of the item is:

• 225

• 207

• 198

• 243

Answer explanation

Let the cost price be x. Loss of 13% = 0.13x and profit of 15% = 0.15x. The difference is 0.15x + 0.13x = 0.28x. Given 0.28x = 63, we find x = 63 / 0.28 = 225. Thus, the cost price is 225.

A mobile, when sold at a profit of 6% then earns ` 870 more than when it is sold at a loss of 6%. What is the cost price of the mobile phone?

• ` 6000

• ` 7000

• ` 6265

• ` 7250

Answer explanation

Let the cost price be x. Selling at 6% profit gives 1.06x, and at 6% loss gives 0.94x. The difference is 1.06x - 0.94x = 0.12x = 870. Solving for x gives x = 7250. Thus, the cost price is ` 7250.

If an item is sold at 13% loss and 14% profit, then the difference between both the prices is ` 162. What is the cost price of the item?

• ` 625

• ` 620

• ` 600

• ` 640

Answer explanation

Let the cost price be x. Selling price at 13% loss = 0.87x, and at 14% profit = 1.14x. The difference is 1.14x - 0.87x = 0.27x = 162. Thus, x = 162 / 0.27 = 600. Therefore, the cost price is ` 600.

An item was sold at a loss of 12%. If it was sold for ` 49 more, then there would be a profit of 2%. The cost price of the item is `……..

• 325

• 300

• 375

• 350

Answer explanation

Let the cost price be x. Selling at a loss of 12% gives selling price as 0.88x. Selling for `49 more gives a profit of 2%, so selling price is 1.02x. Thus, 1.02x - 0.88x = 49, leading to x = 350.

Spoorti had sold a pair of shoes at a profit of 17% for ` 2,223. What was the cost price of the shoes?

• ` 1,905

• ` 1,870

• ` 1,880

• ` 1,900

Answer explanation

To find the cost price (CP), use the formula: Selling Price (SP) = CP + Profit. Here, Profit = 17% of CP. Let CP = x. Then, 2223 = x + 0.17x => 2223 = 1.17x => x = 1900. Thus, the cost price is ` 1,900.

A person buys two watches for ` 480. He sells one of them at 15% loss and the other at 19% profit. After that he comes to know, that he has sold both the watches at the same price. Find the cost price of both the watches.

• `280, 200

• `270, 190

• `285, 200

• `280, 205

Answer explanation

Let the cost prices of the watches be x and y. We have x + y = 480. Selling at 15% loss and 19% profit gives us equations: 0.85x = 1.19y. Solving these, we find x = 280 and y = 200, confirming the correct choice.

A shopkeeper marked the price of a new item as ` 1280. If he gets a profit of 20% even after giving a discount of 10%, then find the cost price of the item.

• `1120

• `960

• `1000

• `940

Answer explanation

The marked price is 1280. After a 10% discount, the selling price is 1152. To achieve a 20% profit, the cost price must be 960 (since 1152 is 120% of the cost price). Thus, the cost price is `960.