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PROFIT n LOSS + CI/SI

1. Harry, a milkman, buys pure milk and adds some water in it before selling. He sells the mixture at a price 10% less than the price of pure milk and makes a profit of 10%. Find the quantity (in litres) of water that he adds to every two litres of pure milk. a. 4/9 b. 2/11 c. 4/11 d. None of these

2. A shopkeeper allows two successive discounts of 10% and 20%... if he sells an article for Rs. 540, the marked price of the article is: a. 750 b. 720 c. 800 d. 810

3. A trader buys a full bottle 900 ml of branded honey for Rs.270. Due to increase in its demand, the company decreased the quantity per bottle by 1/9th keeping the cost per bottle unchanged, whereas the trader increased the selling price of the bottle by 25%. If on every mi the profit was 20% previously, find the profit percentage after the change in demand. a. 50% b. 75% c. 72% d. 64%

4. Shopkeeper fixes the price of his goods 25% above the cost price & allows 12.5% discount on it. His profit percentage is? a. 9.37% b. 11.25% c. 10.5% d. 8.75%

5. By selling 9 articles for a rupee a man incurred a loss of 4%, to make it a gain of 44% the no of articles to be sold for a rupee is? a. 6 b. 7 c. 5 d. 4

6. The cost of 20 oranges and 1 kg of apple is Rs. 60 while their selling price is Rs. 72. The cost of 10 apples and 1 kg of orange is Rs. 50 while their selling price is Rs. 60. Given that the profit percent on the sale of two fruits are different, then the sum of the selling price of 5 oranges and 3 apples and the cost price of 6 kg oranges and 5 kg apples is: a. 318 b. 375 c. 350 d. 324

7. SPs of two articles are same. One is sold at a loss of 20% and another one at a profit of 20%. What is the net loss/profit in the whole transaction? a. 4%loss b. 4%profit c. 3.33%loss d. 3.33% profit

8. Google sold Idea I to Microsoft and Idea II to Yahoo at the same price with profit percentage of 20% and 30% respectively. If the sum of developing Idea I & II is 25,000, what is the developing cost of Idea I? a. 12000 b. 12500 c. 13000 d. 12800

9. A shopkeeper marks up his goods by 40% and gives a discount of 10%. Apart from this, he uses a faulty balance also, which reads 1000gm for 800gm. What is the net profit percentage? a. 60% b. 57.5% c. 71.4% d. 62.5%

10. A shopkeeper sells his goods at its CP only. But he still manages to gain a profit of 40% because he has manipulated his weights. Find how many grams he is actually selling at the place of 1000gm. a. 714gm b. 707gm c. 666gm d. 728gm

11. When an article is sold at 20% discount, SP is Rs.24. What will be the SP when the SP when the discount is 30%? a. 24 b. 22.5 c. 21 d. 20

12. An apple tree gives 200 apples in the first year of accounting, 260 in the second year, 312 in the third year and 343 in the fourth. Find the average growth in the number of apples produced? a. 17% b. 12% c. 16% d. 19%

13. Find the total time needed by a sum to double at 8% per annum compounded annually and then for that sum to double up as simple interest at 8% per annum? a. 24.5% b. 21.5% c. 18.7% d. 19%

14. Robert had Rs.1000 which was divided into two parts. One of the parts was invested in plan A and the other in plan B. Plan A offered interest of 10% compounded annually for 3 years while plan B offered simple interest at the rate of 10% p.a. for 4 years. What was the ratio of

investments in plan A and plan B, if Robert obtained equal amount from both the plans in the end? a. 1.05 : 1 b. 13:11 c.2:3 d. 2:5 e. 1:2

15. A man purchased 129kgs of sugar and was forced to sell it a loss equal to the selling price of 30kg of sugar. If he purchased each kilo of sugar at Rs. 15, then at what price did he sell each kilogram? a. 11.5 b. 13.7 c. 14.28 d. 12.1

SOLUTIONS
1. Suppose he had 100 litres for 100 rupees but he meant to sell at cost 90 and still got 10% profit so, he sold at 110 means he had 100*110/90 = 122 2/9 liters he added 22 2/9 to 100 liters 200/9 to 100 liters. So, 4/9 to 2 liters. 2. Let the marked price be 100. So after first discount the price would be 90 and after second it would be 72. Hence the marked price is (100/72)*SP. Therefore, MP = 540*100/72 = 750 3. Selling price of bottle initially = 270*1.2 = 324 SP of new bottle = 324*1.25 = 405 Cost per ml = 270/800 SP per ml = 405/800 Profit percent = 50

4. Let the CP be 100 => SP = 125. He gives a discount of 12.5%. Therefore new SP = 125 (125*12.5/100) = 125-15.625 = 109.375. Therefore a total profit of 9.375 %

5. Let CP of 9 articles = Rs. 100 Loss =Rs. 4 => SP=Rs. 96 Required SP =144 SP/CP =1.5 No. of new pencils =9/1.5 =6.

6. Ratio will be same as profit % is different So, 20*5/6 oranges = 1kg Since, 5/6 kg = 10 apples 1kg = 12 apples Now, 20 oranges and 12 apples -> CP is 60 and SP is 72 And 6/5 kg oranges and 1 kg apple -> CP is 50 and SP is 60 6 oranges and 3 apples -> CP = 15 and SP = 18 6 kg oranges and 5 kg apple -> CP = 250 and SP = 300 Total = 300 + 18 = 318

7. Let the SP = 100. CP of the articles would be 125 and 83.33

Total CP = 208.33 Since CP > SP, there is a loss Loss % = (208.33 - 200/208.33) = 4%

8. The ratio of developing cost of Idea I and II = 130:120 So, developing the cost of Idea I = 130/250*25000 = 13000 9. Let us assume his CP/1000gm = Rs. 100 So, his SP/kg (800gm) = Rs. 126 So, his CP/800gm = Rs. 80 So, profit = Rs. 46 Profit = 46/80*100 = 57.5%

10. To earn a profit of 40%, shopkeeper needs to make 1.4 kg out of 1kg. So, he is selling 1000/1.4gms = 714gm 11. 20% discount = 0.8 of MP = Rs. 24 So, MP = Rs. 30 SP when discount is 30% = Rs. 21 12. 200(1+r/100)3 = 343 r = 19%

13. Let n be the number of number of years. (1+8/100)n = 2 nlog1.08 = log2 n(log 27 + log 4 - log 100) = 0.301 n = 0.301/(3*0.477 + 2*0.301 - 2) = 9.12 years 9.12 + 12.5 = 21.62 IMPORTANT CONCEPT: When the amount doubles at r > 5%, the number of years is derived by using the formula n=72/r. This formula gives fairly accurate results

14. Let the money invested in CI be x and the money in SI be 1000-x.

1.331x = 1000-x X = 512 and 1000-x = 488 Ratio = 1.05:1

15. CP =15 per kg Let SP be x per kg Since, Total CP =15*129 And Total SP = x*129 Loss = CP - SP = 15*129 -x*129 = 30x x= 15*129/159=12.17