AMCAT Quantitative Ability: Profit & Loss 2

Question 1

A trader sells an article at a loss of 15%. If the selling price had been Rs 60 more, there would have been a gain of 10%. Find the cost price.

Accepted Answer

Rs 240

Answer

1.1C − 0.85C = 60 → 0.25C = 60 → C = Rs 240.

Question 2

By selling 20 items, a vendor gains the cost price of 5 items. What is his profit percentage?

Accepted Answer

25%

Answer

Profit = 5 CP on total cost of 20 CP. Profit% = 5/20 × 100 = 25%.

Question 3

An article is sold at 20% profit. If its cost price is increased by 10% but the selling price remains the same, what is the new profit percentage?

Accepted Answer

9.1%

Answer

Let CP=100. SP=120. New CP=110. Profit=10. Profit%=10/110×100=9.09%.

Question 4

A merchant marks his goods 30% above cost and allows a 10% discount. His profit percentage is:

Accepted Answer

17%

Answer

Let CP=100. MP=130. SP=130×0.9=117. Profit=17%.

Question 5

Two articles are sold at Rs 1200 each. On one there is a 20% profit and on the other a 20% loss. Net result is:

Accepted Answer

4% loss

Answer

CP1=1200/1.2=1000. CP2=1200/0.8=1500. Total CP=2500. Total SP=2400. Loss=100. Loss%=4%.

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