Profit and Loss

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# Profit and Loss

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A shopkeeper buys an article at ` 12000 and spends 10% of cost price as a transport. He marked price 20% above the price at which he buy and sells at mark marked price, find his profit percent.

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Selling price = 1.2 x 12000 = 14400

Cost price = 1.1 x 12000 = 13200

Profit = 14400 - 13200 =1200

Profit % = (1200/13200) x 100 =300/33 =100/11 = 9  1/11 %

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A dishonest dealer claims to sell a product at its cost price . He uses a counterfeit weight which is 20% less than the real weight . Further he added 20% impurities to the product . Find the net profit percentage of the dealer !

Hello Tarishi ,

Assume 100g costs 100 and adds 20% impurity

100g will become 120g

now instead of using 100 gm weigh he is using 80 gm weight

so 100g weight using counterfeit weight becomes (120/ 80 ) x 100 = 150 .

Hence profit percentage => 50%

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Dev bought 100 kg rice for RS 1100 and sold it at a loss of as much money as he received for 20kg of rice. At what price did he sell the rice?

Hello Richa

We know ,

Selling Price = Cost Price - Loss

Hence , SP of 100 kg = CP of 100 kg - SP of 20 kg

SP of 120 kg = CP of 100 kg

SP : CP = 10 : 12

Hence SP of 100 kg rice = 10 x 1100/12

or Rs  55/6 per kg

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let diameter of can be 10 and h be 1

earlier

v= 10*10*1= 100kg

now,

v=9*9*1 =81 kg

now let 1 kg = 1 rs.

earlier we were selling 100kg for 100rs

now we will sell 81 kg for 100 rs

means c.p =81

s.p =100

profit % =(19/81)*100 =23.47 (aprox)

earlier we were having zero profit now 23.47 so change =23.47

The previous profit percentage is not known, so we cannot calculate the increase in profit percentage.

Hence , Option D

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A dishonest shopkeeper cheats at the time of purchasing by 20% and at the time of selling by 35% using wrong weights and sells at the cost price.find his profit %

Is it 84.6% ?

Make a cheating of 20% while buying item means while buying he brought item worth Rs 120 in Rs. 100

Now at the time of selling he cheats 35% . So he sells item worth Rs 120 in price of 120 x (100/65) =Rs  184.6

hence profit percentage becomes : 84.6% .

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One year payment to a servant is rs. 200 and one shirt. The servant leaves after 9 months and recieves Rs. 120 and a shirt. find the price of the shirt.

a. 80

b. 100

c. 120

d. Can't be determined

Let the price of the shirt be x .

Total yearly income = 200 + x.

Monthly = (200 + x)/12

9 months income  = [(200 + x)/12] ×  9

Now ,
120 + x = [(200 + x)/12] × 9

x = 120 .

Alternate Approach :

Loss of ₹80  in 3 months so in  12 months => ₹320

Contract is 200 + shirt.

So Shirt = 320 - 200 = ₹120

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Deb ought 100kg of rice for Rs. 1100 and sold it at a loss of as much money as he received for 20kg of rice. At what price did he sell the rice?

a. 10.20

b. 10

c. 9.16

d. 9

Same question has been posted earlier... Got the solution...thanks!

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PFA the solution

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Let label price be 100

Trader gets 19% discount so c.p for him =81

Apply m.p/c.p= (100+profit)/(100-discount)

Profit= 20% discount=10%

M.p/81= 120/90

M.p= 108

So 8% above label price option b is correct

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Send another image rs. Are not visible

PFA. Please provide the solution for the same.

find the solution in discussion of 22nd question

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Please provide the solution for question 24 and question 27.

24th

previously scale was 100( assumed value) now it becomes 125 let price of 1 unit =1rs

he is giving 125 unit and getting the price for 100 unit { cp for him=125,sp=100}

loss=(25/125)*100=20%          (it can be treated as discount)

he gives discount 10%

successive discount of 20% and 10% =28%

apply mp/cp=(100+profit)/(100-discount)

let cp=100x

mp/100x=108/72

mp=150x

so 50% above cp

Solution to the 27th Question :

let 100 items cost 100

Rajesh will take away 110 items

Hence , CP of Rakesh => 110

Marked price for Rajesh : 100 x 121/90

SP : 100 x 121 /90 x 90/100 = 121

Percentage profit : ( 121 - 110)/110 x 100 = 10%

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When a producer allows 36% commission on the retail price of his product  he earns a profit of 8.8% . What would be his profit % if the commission is reduced by 24% ?

This post was modified 6 years ago by Richa Malhotra

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yes sir , could you give the explanation as well ?

Treat commission as the discount he will give and apply mp/cp= (100+profit)/(100-discount)

In first case p=8.08 and commission is 36

Mp/cp= 108.8/64

In 2nd case commission reduces by 24 means it becomes 12 and ratio of mp/cp remains same so

108.8/64=(100+new profit)/88

100+ new profit=149.6

New profit= 49.6

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