Profit and loss - Solved examples
Profit and loss - Solved examples
Introduction
On the Nithra Jobs site, we have given the sums based on profit and loss along with solutions for clear understanding. Profit and loss problems are a crucial part of competitive exams. A strong understanding of profit and loss calculations is essential for success in business, finance, and accounting. In this article, we have given examples of profit and loss sums for competitive exams. Refer this given link to know about the profit and loss formulas.
6. An article is sold for Rs. 2400 at a profit of 25%. What would have been the actual profit or loss if it had been sold at Rs 1800?
Answer: 6.25%
Explanation:
Cost price = Rs. 2400 at a profit of 25%
Gain = (100 + 25)%
= 125% of Rs. 2400
Cost price = 2400 * 100 / 125
= 2400 * 4 / 5
= 480 * 4
Cost price = Rs. 1920
Selling price = Rs. 1800
Loss = Cost price - Selling price
= 1920 - 1800
Loss = Rs. 120
Loss percentage = (Loss * 100) / C.P
= 120 * 100 / 1920
=1200 / 192
= 6.25%
Loss percentage = 6.25%
7. A man buys a cycle for Rs. 1500 and sells it at a loss of 25%. What is the selling price of the cycle and also how much he lost?
Answer: Rs. 375
Explanation:
Cost price = Rs. 1500
Selling price = loss of 25%
= ( 100 - 25 ) %
= 75 % of Rs. 1500
= (75 / 100) * 1500
Selling price = Rs. 1125
Loss = (Cost price - Selling price)
= Rs. 1500 - Rs. 1125
= Rs. 375
Loss = Rs. 375
8. A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain is?
Answer: 22.22%
Explanation:
Let's assume that the shopkeeper buys and sells goods worth Rs. 100. Since he cheats by 10%,
Actually goods worth = Rs. 90 (i.e. 10% less than the actual cost).
He sells them for = Rs. 110 (i.e. 10% more than the actual cost).
Cost price = Rs. 90
Selling price = Rs. 110.
Profit = Selling price - Cost price
= Rs. 110 - Rs. 90
Profit = Rs. 20
Profit percentage = (Profit / Cost price) x 100
= (20 / 90) x 100
= 22.22%
Total gain = 22.22%
9. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. Find his profit percent.
Answer: 5 %
Explanation:
Cost Price of 26 kg of rice = ( 26 * 20 )
= Rs. 520
Cost Price of 30 kg of rice = ( 30 * 36 )
= Rs. 1080
Cost Price of 56 kg rice = Rs. ( 520 + 1080 )
= Rs. 1600
Selling Price of 56 kg rice = Rs. ( 56 * 30 )
= Rs. 1680
Gain = Selling Price - Cost Price
= 1680 - 1600
= 80
Gain % = ( Gain * 100 ) / Cost Price
= ( 80 * 100 ) / 1600
= ( 8000 / 1600 )
= ( 80 / 16 )
= 5 %
Profit percent = 5 %
10. Vimal bought paper sheets for Rs. 7200 and spent Rs. 200 on transport. Paying Rs. 600, he had 330 boxes made, which he sold at Rs 28 each. Find his profit percentage.
Answer: 15.5 %
Explanation:
Total investments ( Cost Price ) = ( 7200 + 200 + 600 )
= Rs. 8000
Total receipt ( Selling price ) = ( 330 * 28 )
= Rs. 9240
Gain = Selling Price - Cost Price Gain = ( 9240 - 8000 )
= Rs. 1240
Gain % = ( Gain * 100 ) / Cost Price
= ( 1240 * 100 ) / 8000
= ( 124000 / 8000 )
= ( 124 / 8 )
= 15.5 %
Profit percentage = 15.5 %
Conclusion
I hope these examples help you understand how to solve profit and loss sums for competitive exams. Here are some tricks to solve profit and loss questions quickly in upcoming exams. Practice profit and loss questions with solutions that are given and become familiar with profit and loss formulas and tricks which will be the key to achieving success in real-world also.
Get your job immediately