Profit and Loss Quiz-1

Let the marked price of the article be x.

First a 20% discount was offered, on which another 25% discount was offered.

So, 75% of 80% of x = 3600

\frac {75}{100}\times  \frac {80}{100} \times x = 3600

x = 6000.

So the article was marked at Rs. 6000.

Cost price of the article = [\frac{100}{(100+80)}]\times 3600 = Rs. 2000.

It is important to note here that this DOES NOT equal to a 45% discount on the whole. When different discounts are applied successively, they CANNOT be added.

We have to calculate: , \frac {(average CP – average SP)}{average SP}\times 100
Here, the selling price is equal in all three cases. Since the maximum number of calculations are
associated with the SP, we assume it to be 100. This gives us an average SP of 100 for the three articles.
Then, the first article will be sold at 111.11, the second at 83.33 and the third at 133.33. (The student is
advised to be fluent at these calculations)

Further, the CP of the three articles is 111.11 + 83.33 + 133.33
= 327.77.
The average CP of the three articles is \frac{327.77}{3} = 109.2566.
Hence, \frac {(average CP – average SP)}{average SP}\times 100 = 9.2566%. higher

cost = 700

material:labour:overheads = 3:2:2

cost of product includes cost of material, labour & indirect expenses.

\frac{700}{7x} = 100

cost of material = 3x =3 x 100 =300

cost of labour. = 2x= 2 x 100 =200

cost of overheads = 2x =2 x 100 =200

profit = cost of labour x  20%

profit = 200 x 20% = 40

so marked price = cost of production +profit.

marked price = 700+40 = 740

The costs in 1983 were 400 and 200 respectively. An increase of 30% in labor results in an increase of Rs 120. An increase of 10% in overheads results in an increase of Rs. 20.
Total Increase = 120 + 20 = 140.

New cost = 400 +200 + 140 = 740

Ramu's Discount

8% on 8000 = 640

5% on 12000 = 600

3% on 16000 = 480

Total is 1720 on 36000

Final Sp for Ramu = (36000-1720) = 34280

Shyamu's Discount

7% on 12000 = 840

6% on 8000 = 480

5% on 16000 = 800

Total is 2120 on 36000

Final Sp for Shyamu = (36000-2120) = 33880

Cp for both is 36000×\frac{100}{125} = 28800

Ramu has greater profit

Profit % for Ramu =\frac {(34280-28800)}{28800}\times 100 = 19%

Ramu's Discount

8% on 8000 = 640

4% on 12000 = 480

1% on 16000 = 160

Total is 1280 on 36000

Final Sp for Ramu = (36000-1280) = 34720

Profit = 34720 - 28800 = 5920

If the cost price is Rs.100, then to get a profit of 20%, the selling price
should be Rs.120.
If 120kg is to be sold, and the dealer gives only 100kg, to get a profit of 20%.
How many grams he has to give instead of one kilogram(1000 gm).
120 gm ------ 100 gm
1000 gm ------ ?
1000\times\frac{100}{120} GRAMS

= \frac{2500}{3}

= 833\frac{1}{3} GRAMS

15 CP = 18 SP

18 --- 3 CP loss

100 --- ?

Then

\frac{3}{18}\times 100

=> 16\frac{2}{3} % loss

That means, on selling per 11 articles he profits 2.
on selling 100 articles he profits

\frac {2}{11}\times 100

= aprox 18

CP = (Difference in SP) ÷ (% Difference in profit)
= \frac{600}{(5-(-11))} \times 100
= \frac{600}{16}\times 100 = Rs 3750