Profit and loss Practice problems with shortcut tricks

Example 1:  A man purchase 11 pens for Rs 10 and sells 10 pens for RS 11. How much profit or loss he makes?

Suppose the person bought 11 x10=110 pen

CP of 110 pen= 10/11 x100= Rs 100

SP OF 110 pens= 11/10 x100= Rs 121

Profit= 121-100= Rs 21

So percentage profit= 21/100 *100= 21%

Example 2: `A dishonest dealer uses weight of 950 gm instead of 1 kg. Find his gain percentage?

Weight of 1 kg=1000gm so there is error of 50 gm.

In this case MF = Amount charged for (reading)/Actual sold

% gain= 50/950 *100

= 5.26%

Example 3: A bought a cycle for 1080 and then sold it to B for a loss of 20%. B spent  Rs 36 on improving the condition and sell at 205 gain. What amount he get?

A sold the cycle at 20 % loss i.e 1080 x 0.8= 864

B’s 20% profit is calculated on his total investment = 864+36= Rs 900

Rs 900X1.2= Rs 1080

Example 4:  A Seller uses 840 gm in place of 1 kg find his actual profit or loss when

  1. When he sells item on 4% loss
  2. When he sells item on 4% profit

a )  Suppose the cost price of 1000 gm is Rs 100 Then cp of 840 gm= 100*840/1000

Rs 84

Now SP IN Case a) SP= 100-4= Rs 96

Profit= SP-CP

= 96-84= rs 12

% profit= 12*100/84= 100/7%

b)

SP= 100+4= Rs 104

Profit= 104-84= Rs 20

% profit= 20*100/84= 23 17/21%

Example 5: A salesman sold one fourth of his stock at 50% profit and remaining at 80% profit. Find his net profit?

Lest say salesman invested Rs 100 stock. One fourth i.e rs 25 was sold 50% profit.

So he receives 25+ 50% of 25= Rs 37.5

Now remaining stock Rs 75 was sold at 80% profit so he receives = 75X1.8= Rs 135

So total amount he receives = 37.5+ Rs 135= Rs 172.5

So profit on Rs 100 investment would be 72.5%

Example 6: Anaya purchased toffees at Rs 10 per dozen and sells them at Rs 12 for every 10 toffees. Find her gain or loss?

So in this case cost price of toffee would be= 10/12Rs

SP=12/10Rs

MF=SP/CP

=144/100=1.44 SO Mf is more than 1 clearly there is gain of 44%

Example 7. Reeta purchased 8 oranges for a rupee, but sells only 6 for a rupee. Find her profit percentage?

Here cost price of 1 orange= 1/8

Sp= 1/6

So MF= 8/6=> 1.33

Profit percentage= 33.3%

Example 8: paresh sells 40 pencils and gain a selling price of 10 pencils, what is profit percentage?

Here selling price of 30 pencils= cost price of 40 pencils

Let cp of 40 pencils=Rs 1

SP OF 30 Pencils is also= Rs 1

So SP of 40 pencils= 1/30*40= 4/3

%profit=( 4/3-1)/1 *100

=33/3%

Example 9 A man bought a cycle for rs 560. Find how much shall he sell to get loss of 10%?

Here person is getting loss of 10% so clearly sp is less than CP

So by use of MF our calculating figure would be 100 and 90

So SP= 90/100 *560

=Rs 504

Example 10: A sells goods to B at profit of 20 % and B sells to C at a profit of 25%. If C pays 225 for it then what was cost price for A?

During both the transaction there is profit. So our calculating figure would be 120,125,100. Here clearly CP MUST Be less than SP.  So

CP =225* 100/120*100/125

=Rs150

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