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Mathematical Skills | Profit and Loss

Q. No. 1:	A house costs C rupees. Later it was sold for a profit of 25%. What is the capital gains tax if it is 50% of the profit?
A :	C/24
B :	C/8
C :	C/4
D :	C/2

Solution Answer: B CP of house = Rs C Profit =25% of C = C/4 Capital gain tax = 50% of C/4 = C/8

Q. No. 2:	A machine is sold at a profit of 10%. Had it been sold for Rs 40 less, there would have been a loss of 10%. What was the cost price?
A :	Rs 200
B :	Rs 225
C :	Rs 250
D :	Rs 175

Solution Answer: A Let the cost price of machine be Rs 100 SP of machine at a profit of 10% = Rs 110 SP of machine at a loss of 10% = Rs 90 If SP is Rs 20 less, then CP = Rs 100 If SP is Rs 40 less, then CP = 100/20 * 40 = Rs 200

Q. No. 3:	If the cost of 12 pencils is equal to the selling price of 10 pencils, the profit percent in the transaction is
A :	16%
B :	18%
C :	20%
D :	25%

Solution Answer: C Let CP of 12 pencils = SP of 10 pencils = Re 1 Then CP of 1 pencil = Rs 1/12 and SP of 1 pencil = Rs 1/10 Profit = 1/10 - 1/12 = Rs 1/60 % profit = (1/60)/(1/12) * 100 = 20%

Q. No. 4:	Two motor cars were sold for Rs 9,900 each, gaining 10% on one and losing 10% on the other. The gain or loss percent in the whole transaction is
A :	neither loss no gain
B :	1% gain
C :	100/99 % profit
D :	1% loss

Solution Answer: D In such transaction where SP is same and also gain % and loss % is same there is always a loss and such loss % => (common gain or loss % / 10)² = (10/10)² = 1% loss

Q. No. 5:	The retail price of a water geyser is Rs 1265. If the manufacturer gains 10%, the wholesale dealer gains 15% and the retailer gains 25%, then the cost of the product is
A :	Rs 800
B :	Rs 900
C :	Rs 700
D :	Rs 600

Solution Answer: A Let CP of geyser be Rs x then, x1.11.15*1.25 = Rs 1265 => x= Rs 800.

Q. No. 6:	A trader wants 10% profit on the selling price of a product whereas his expenses amount to 15% on sales. What should his rate of mark up be on an article of Rs 9?
A :	20%
B :	25%
C :	30%
D :	33.33%

Solution Answer: D Let the SP of an article be Rs x. Expenses = 15% of x = 0.15x Profit = 10% of x = 0.10x CP = Rs 9 (given) 9 + 0.15x+0.10x = x => x= 12 % increase for make up price = (12-9)/9 * 100 = 100/3= 33.33%

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Profit and Loss