Looking for help on finding Profit and Loss Concepts? Then, you have come the right way. Here let us observe some fully solved example problems on calculating profit or loss. You can find step by step solutions to all the Profit and Loss Questions available here. Try Practicing from the Profit and Loss Problems and get acquainted with the concepts better. Learn various methods for Calculating Profit and Loss and solve related problems easily. Assess your preparation standards on the concept and concentrate on the areas you are lagging in accordingly.<\/p>\n
Question 1:<\/strong> Solution:<\/p>\n We need to find out the profit % when the given commission is reduced by 25 percent. =(\\(\\frac { 2175 }{109 } \\)*\\(\\frac { 109 }{6000 } \\)*100)%<\/p>\n = 36.25 % Solution: \\(\\frac { 86 }{ 100 } \\)*\\(\\frac { (100 \u2013 P) }{ 100 } \\)*200 = 125<\/p>\n 100-P = \\(\\frac {(125*100*100) }{ 200*86 } \\) Solution: = \\(\\frac { 120 }{ 100 } \\)*X =\\(\\frac { 3 }{ 4 } \\)*X = \\(\\frac { 15x }{ 16 } \\)<\/p>\n As given the article is sold at $ 11.50 less \\(\\frac { 6x }{5 } \\) –\\(\\frac { 15x }{ 16 } \\) = 11.50 Solution: = (\\(\\frac {3x}{ 16 } \\)*\\(\\frac {1}{ x } \\)*100)%<\/p>\n = 18.75%. Solution: = (\\(\\frac {18 }{ 10 } \\))2<\/sup><\/p>\n = (\\(\\frac {324 }{ 100 } \\))<\/p>\n = 3.24% Solution: = $ 80 per lit. Question 7:<\/strong> Solution: =$ \\(\\frac { 100 + 18 }{ 100 } \\)*50= $ 59. C.P. = \\(\\frac { 100 – Loss% }{ 100 } \\)*S.P.<\/p>\n = $ \\(\\frac { 100 – 14 }{ 100 } \\)*51<\/p>\n = $ 43.86.<\/p>\n Must Read:<\/p>\n Nr7 Screener<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Looking for help on finding Profit and Loss Concepts? Then, you have come the right way. Here let us observe some fully solved example problems on calculating profit or loss. You can find step by step solutions to all the Profit and Loss Questions available here. Try Practicing from the Profit and Loss Problems and … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[5],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/posts\/42746"}],"collection":[{"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/comments?post=42746"}],"version-history":[{"count":3,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/posts\/42746\/revisions"}],"predecessor-version":[{"id":92898,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/posts\/42746\/revisions\/92898"}],"wp:attachment":[{"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/media?parent=42746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/categories?post=42746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bigideasmathanswers.com\/wp-json\/wp\/v2\/tags?post=42746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nIf a manufacturer allows 40% commission on the retail price of his product, he earns a profit of 9%. What would be his profit percent if the commission is reduced by 25 percent?<\/strong><\/p>\n
\nGiven data:
\nAccording to the question consider
\nCost price (C.P.) of the product = $ 100
\nThen, a commission of the product = $ 40
\nTherefore selling price (S.P.) = $ (cost price (C.P.) \u2013 commission)
\n= $ (100 \u2013 40)
\n= $ 60
\nGiven that profit = 9%
\nTherefore Cost price (C.P.) = \\(\\frac { 100 }{ 100+gain%} \\)* S.P
\nSo,
\nC.P. = $ \\(\\frac { 100 }{ 100+9 } \\)* 60
\n= $ \\(\\frac { 6000 }{109 } \\)
\nNow new commission = $ 15
\nTherefore new selling price (S.P.) = $ 100 – 15
\n= $ 75
\nGain = S.P. \u2013 C.P.
\n= $ (75 \u2013 \\(\\frac { 6000 }{109 } \\))
\n= $ \\(\\frac { 2175 }{109 } \\)
\nGain% = (\\(\\frac { Profit }{C.P. } \\)*100)%<\/p>\n
\nHence, gain % is 36.25.
\nQuestion 2:<\/strong>
\nAfter getting two successive discounts, a pant with the least price of $ 200 is available at $ 125. If the second discount is 14%, find the first discount.<\/strong><\/p>\n
\nLet the first discount be \u2018P%\u2019
\nThen, 86% of (100 \u2013 P) % of 200 = 125<\/p>\n
\n100 \u2013 P = 72.67
\nP = 100 \u2013 72.67
\nP = 27.32%
\nTherefore, first discount price of pant is 27.32%.
\nQuestion 3:<\/strong>
\nA women sells an article at a profit of 20%. If he had bought it at 15% less and sold it for $ 11.50 less, he would have gained 25%. Find the cost price of the article.<\/strong><\/p>\n
\nGiven data:
\nConsider cost price (C.P.) of article be \u2018X\u2019
\nFirst selling price of article \u2018X\u2019 = 120% of \u2018X\u2019<\/p>\n
\n= \\(\\frac { 6 }{ 5 } \\)*X
\nCost price of article for \u2018X\u2019 at 75% = 75% of \u2018X\u2019
\n=\\(\\frac { 75 }{ 100 } \\)*X<\/p>\n
\nSecond selling price of article \u2018X\u2019 = 125% of 3\/4 * X
\n= \\(\\frac { 125 }{ 100 } \\)*\\(\\frac { 3x }{ 4 } \\)<\/p>\n
\nTherefore, selling prices are equalized to a reduced price<\/p>\n
\n\\(\\frac { 21x }{80 } \\) = 11.50
\nX = $ 43.8
\nAlmost equal to $ 44
\nHence, the cost price of an article is given as $ 44.
\nQuestion 4:<\/strong>
\nA dealer sold three \u2013 fourth of his articles at a gain of 25% and the remaining at cost price. Find the profit earned by him in the whole transaction.<\/strong><\/p>\n
\nA dealer sold his \u00be th quantity with a gain of 25% and the remaining \u00bc that its cost price.
\nGiven data:
\nConsider cost price (C.P.) of whole articles be \u2018X\u2019
\nCost price (C.P.) of \\(\\frac { 3}{ 4} \\)th quantity = $ \\(\\frac { 3x}{ 4} \\)
\nCost price (C.P.) of \\(\\frac { 1}{ 4} \\)th quantity = $ \\(\\frac { x}{ 4} \\)
\nTotal selling price (S.P.) = $ ((125% of \\(\\frac { 3x}{ 4} \\)) + \\(\\frac { x}{ 4} \\))
\n= $ (\\(\\frac { 15x}{ 16} \\) + \\(\\frac { x}{ 4} \\))
\n= $ (\\(\\frac { 19x}{ 16} \\))
\nProfit \/ Gain = S.P. \u2013 C.P.
\n= $ (\\(\\frac { 19x}{ 16} \\) \u2013 x)
\n= $ \\(\\frac { 3x}{ 16} \\).
\nGain % = (\\(\\frac { gain}{ C.P. } \\)*100)%<\/p>\n
\nHence, the gain % of the article is 18.75%.
\nQuestion 5:<\/strong>
\nA man sold two flats for $ 775,000 each. On one he gains 18% while on the other he losses 18%. How much does he gain or lose in the whole transaction?<\/strong><\/p>\n
\nIn this problem he gets an equal amount of profit and loss such cases there is always a loss. Therefore the selling price (S.P.) is immaterial.
\nLoss % = (\\(\\frac {common loss and gain %}{ 10 } \\))2<\/sup><\/p>\n
\nThe total loss incurred by the person is 3.24%.
\nQuestion 6:<\/strong>
\nPure petrol costs $ 100 per lit. After adulterating it with kerosene costing $ 50 per lit, a shopkeeper sells the mixture at the rate of $ 96 per lit, thereby making a profit of 20%. In what ratio does he mix the two?<\/strong><\/p>\n
\nHere, we have two different cost prices for different mixtures and one selling price (S.P.).
\nGiven data:
\nCost price (C.P.) of petrol = $ 100 per lit
\nCost price (C.P.) of kerosene = $ 50 per lit
\nSelling price (S.P.) of mixture = $ 96 per lit
\nAs we have two cost prices,
\nMean cost price = $(\\(\\frac {100 }{ 120 } \\))* 96)<\/p>\n
\nSince they asked us to find a ratio it is easy to find out by the allegation rule
\nCost price (C.P.) of a unit Cost price (C.P.) of a unit quantity of $ X item quantity of $ Y item
\nMean cost
\n$ M
\n(M \u2013 Y) (X \u2013 M)
\nSimilarly using this concept here,
\nCost price (C.P.) of a unit Cost price (C.P.) of a unit quantity of $ 100 item quantity of $ 50 item
\nMean cost
\n$ 80
\n(80 \u2013 50) (100 \u2013 80)
\nTherefore, required ratio = 30 : 20
\n= 3 : 2.<\/p>\n
\nFind cost price (C.P.), when<\/strong>
\n1. Selling price (S.P.) = $ 50, Gain = 18%<\/strong>
\n2. Selling price (S.P.) = $ 51, Loss = 14%<\/strong><\/p>\n
\nHere, we need to find cost price (C.P.) using below formulae
\n1. Given data
\nSelling price (S.P.) = $ 50 & Gain = 18%
\nC.P. = \\(\\frac { 100 + Gain%) }{ 100 } \\)*S.P.<\/p>\n
\n2. Given data
\nSelling price (S.P.) = $ 51, Loss = 14%<\/p>\n