Mathematical Aptitude MCQ - Profit and Loss

6 Romit sold his old TV and earned a profit of 10%. If he could have managed to sell it for `8100 more, then his profit would have been be 37%. Find the price at which he bought the TV?

1st profit = 10%
If Romit sells TV for `8100 more, then profit = 37%
S.P. = (100 + Profit%)% of C.P.
∴ SP1 + 8100 = SP2
∴ (110)% C.P. + 8100 = (137)% C.P.
∴ 27% of C.P. = 8100
∴ C.P. = (8100 X 100)/27 = Rs 30000

7 A man bought a horse for a certain sum and sold it at a loss of 8% on his outlay. If he had received `1800 more, then he would have gained 141/2 % on his outlay. What did the horse cost?

C.P. = (Difference in S.P.) ÷ (% Difference in profit) C.P. of the horse = 1800 × 100/14.5–(–8) = 1800 × 100/22.5 ⇒ C.P. = 8000.

8 A man purchases two pens for Rs 740. He sells one at 12 % profit and the other at 8% loss. Then he neither gains nor loses. Find the cost price of each pen (in Rs).

C.P. of 2 pens = 740. Let C.P. of 1st pen be x and C.P. of 2nd pen be y.
Since there is no profit and loss in the whole transaction, so 12% of x = 8% of y
⇒ x : y = 2 : 3
Hence the cost of first pen = (2/3) × 740 = Rs 296 and that of the second pen = (3/5) × 740 = Rs 444.

9 A dealer paid a car manufacturer Rs 1,35,000 for a car. What should be the selling price of the car, if after allowing a buyer 10 % discount on the selling price, he made a profit of 8% on his outlay?

Profit and loss formula is given by, Let S.P. of the car = x
Discount of 10%.
Profit = 8%.
∴ ((90/100)x – 135000/135000) × 100 = 8
⇒ (90/100)x – 135000 = 8 × 1350 ⇒ (90/100)x
⇒ x = 162000

10 A man sells an article at a profit of 8%. If the cost price were 10% less and the selling price Rs 18 less, then his profit would have been 15%. Find the cost price of the article.

Let C.P. of the article = 100
∴ Old S.P. = 108. New C.P. = 90. As the profit is 15%, so the new S.P. = 90 × 115/100 = 103.5. The difference in the two selling prices = 108 – 103.5 = Rs 4.5 If difference in S.P. is 4.5 then C.P. = 100. If difference in S.P. is 18, then C.P. = (100/4.5) × 18 = Rs 400.

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