Wells Fargo Profit and Loss Problems with Solutions Quiz-1

Solution : CP for each pen = 10 / 20 = Rs. 0.50
SP for each pen = 10 / 15 = Rs. 2 / 3
Profit = SP – CP = Rs. (2 / 3) – 0.50 = Rs. 1 / 6
Therefore, profit percent = [ (1/6) / (0.50) ] x 100 = 33.334%

Solution : Let the cost price of the article be Rs. C
=> SP = CP – Loss
=> 1805 = C – 0.05 C
=> 0.95 C = 1805
=> C = 1900
Therefore, to gain 5 %, SP = 1900 + (0.05 x 1900) = 1900 + 95 = Rs. 1995

Solution : Let the selling price of the article be Rs. S
=> Cost price of the article = 67 % of S = 0.67 S
=> Profit = SP – CP = 0.33 S
Therefore, profit percent = (0.33 S / 0.67 S) x 100 = 49.25 %

Solution : We are given that the shopkeeper bought 80 Kg at Rs. 13.50 per KG and 120 KG at Rs. 16 per KG.
=> Total cost price = (80 x 13.50) + (120 x 16) = 1080 + 1920 = Rs. 3000 and total rice = 80 + 120 = 200 KG
Now, total selling price = Total cost price + 16 % of total cost price
=> Total selling price = 3000 + (0.16 x 3000) = Rs. 3480
Thus, selling price per KG = 3480 / 200 = Rs. 17.40

Solution : Profit percent = [ (True Value – Given Value) / Given Value ] x 100 %
Here, True Value = 1 KG = 1000 gm
Given Value = 750 gm
Therefore, profit percent = [ (1000 – 750) / 750 ] x 100 = (250 / 750) x 100 = 33.334 %

Solution : We know that if two articles are sold at the same selling price, one at a gain of A% and one at the loss of A%, then the seller always incurs a loss of (A / 10)2.
=> Loss percent = (10 / 10)2 = 1 %

Solution : Let the marked price of the shirt be Rs. 1000
=> Price after first discount = Rs. 1000 – 20 % of Rs. 1000 = Rs. 1000 – 200 = Rs. 800
=> Price after second discount = Rs. 800 – 10 % of Rs. 800 = Rs. 800 – 80 = Rs. 720
=> Price after cash discount = Rs. 720 – 5 % of Rs. 720 = Rs. 720 – 36 = Rs. 684
Therefore, total discount = Rs. 1000 – 684 = Rs. 316
=> Overall discount percent = (316 / 1000) x 100 = 31.60 %

Solution : Let the cost price of the article be Rs. 100
=> Selling price of the article = Rs. 100 + 33% of CP = Rs. 133
Let the marked price be Rs. M
=> Selling price = Marked Price – Discount
=> 133 = M – 0.05 M
=> 133 = 0.95 M
=> M = 140
=> M – CP = 140 – 100 = 40
Therefore, percent of CP above which the article should be marked = (40 / 100) x 100 = 40 %

Cost price of the bag is Rs 27.50 and Selling price is Rs 28.90. So, Peter gains Rs (28.90 - 27.50) = Rs 1.40. Percentage of gain = (1.40/27.50 × 100)% = 140/27.5 % = 5.09 %

Answer: Option C

CostPrice of 1toy=Rs.(375/12)=Rs.31.25

SellingPrice of 1toy=Rs.33 .

So,Gain=Rs.(33−31.25)=Rs.1.75

∴Profit%=(1.75/31.25×100)%=28/5%=5.6%