Profit, Loss & Averages Questions for TISSNET 2022 – Download PDF

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Question 1: 17 articles were bought for Rs. 3,910 and sold for Rs. 4,590. How much was the approximate profit percentage per article ?

a) 17%

b) 12%

c) 9%

d) 21%

e) 25%

Question 2: The cost price of an article is Rs. 390. If it is to be sold at a profit of 3.12 per cent, how much would be its approximate selling price ?

a) Rs. 410

b) Rs. 402

c) Rs. 417

d) Rs. 420

e) Rs. 442

Question 3: The cost price of an article is Rs.1700. If it was sold at a price of Rs.2006, what was the percentage profit on the transaction?

a) 18

b) 12

c) 10

d) 15

e) 20

Question 4: 21 articles were bought for 6531 and sold for Rs.9954. How much was the approximate profit percentage per article?

a) 56%

b) 43%

c) 52%

d) 49%

e) 61%

Question 5: A person sells half of his goods at 20% profit and remaining half at 30% profit. What is his overall gain per cent in the whole transaction ?

a) 30%

b) 25%

c) 50%

d) 35%

e) None of these

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Question 6: Meera purchased 23 bracelets at the rate of Rs. 160 per bracelet. At what rate per bracelet should she sell the bracelets so that profit earned is 15% ?

a) 184

b) 186

c) 192

d) 198

e) None of these

Question 7: A shopkeeper sold 8 chairs at a profit of 20% and 6 chairs at a profit of 10%. Had he sold all the 14 chairs at a profit of 12%, his profit would have been reduced by 442. What is the cost price of each chair? (cost of each chair is same)

a) Rs. 750

b) Rs. 775

c) Rs. 825

d) Rs. 850

e) Rs. 900

Question 8: The price of an article is first increased by 20% and later on decreased by 25% due to reduction in sales. Find the net percentage change in final price of article.

a) 20%

b) 18%

c) 38%

d) 10%

e) None of these

Question 9: A profit of 8% is made by selling a shirt after offering a discount of 12%. If the marked price of the shirt is Rs.1,080/-, find its cost price.

a) Rs.890/-

b) Rs. 780/-

c) Rs.880/-

d) Rs.900/-

e) None of these

Question 10: A profit of 25% is earned on goods when a discount of 20% is allowed on the marked price. What profit percentage will be earned when a discount of 10% is allowed on the marked price?

a) $45\frac{9}{11}$

b) $42\frac{3}{4}$

c) $40\frac{5}{8}$

d) $37\frac{2}{3}$

e) None of these

Question 11: A shopkeeper sold an article for Rs.1,380 at a loss of 8%. At what price should it be sold to gaina profit of 8% ?

a) Rs.1,560/­

b) Rs.1,620/­

c) Rs.1,680/­

d) Rs.1,740/­

e) None of these

Question 12: The cost price of item B is Rs. 150/- more than the cost price of item A. Item A was sold at a profit of 10% and item B was sold at a loss of 20%. If the respective ratio of selling prices of items A and B is 11 : 12, what is the cost price of item B?

a) Rs. 450/-

b) Rs. 420/-

c) Rs. 400/-

d) Rs. 350/-

e) Rs. 480/-

Question 13: Mr. Bagdi purchased an Air Con ditioner for Rs. 12.000 and sold it for Rs. 15,000. What was the profit percentage ?

a) 25

b) 35

c) 20

d) 15

e) None of these

Question 14: Kiran sold an item for 28,160 and Incurred a loss of 15°4). At what price should she have sold the item to have Oiled a profit of 25% ?

a) 12,200

b) 12,300

c) 13,000

d) Cannot he determined

e) None of these

Question 15: Savita sold an item for 6,500 and incurred a loss of 20%. At what price should she have sold the item to have gained a profit of 20%?

a) 10,375

b) 9,750

c) 8,125

d) Cannot be determined

e) None of these

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Answers & Solutions:

1) Answer (A)

Cost price of 1 article = Rs. $\frac{3910}{17}$ = Rs. 230

Selling price of 1 article = Rs. $\frac{4590}{17}$ = Rs. 270

Profit % = $\frac{270 – 230}{230} * 100$

= 17.39% $\approx$ 17%

2) Answer (B)

Profit obtained in selling the article at 3.12%

= $\frac{3.12}{100} * 390 \approx$ Rs. 12

=> Selling price = 390 + 12 = Rs. 402

3) Answer (A)

Profit = S.P. – C.P. = 2006 – 1700

= Rs. 306

=> Profit % = $\frac{306}{1700} * 100$

= 18%

4) Answer (C)

C.P. of 1 article = $\frac{6531}{21}$ = Rs. 311

S.P. of 1 article = $\frac{9954}{21}$ = Rs. 474

=> Profit on 1 article = S.P. – C.P. = 474 – 311

= Rs. 163

$\therefore$ Profit % = $\frac{163}{311} * 100$

= 52.4% $\approx$ 52%

5) Answer (B)

Let the person has 2 goods and cost price of each good = Rs. 100

=> Total C.P. = Rs. 200

S.P. of 1st good = $\frac{120}{100} \times 100$ = Rs. 120

S.P. of 2nd good = $\frac{130}{100} \times 100$ = Rs. 130

=> Total S.P. = 120 + 130 = Rs. 250

$\therefore$ Overall profit % = $\frac{250 – 200}{200} \times 100$ = 25 %

6) Answer (A)

C.P. of 1 bracelet = Rs. 160

S.P. of 1 bracelet after 15 % profit

= $\frac{115}{100} \times 160$

= Rs. 184

7) Answer (D)

Let C.P. of each chair = $100x$

Case 1 : 8 chairs sold at 20% profit

=> S.P. of 8 chairs = $8 \times \frac{120}{100} \times 100x = 960x$

6 chairs sold at 10% profit

=> S.P. of 6 chairs = $6 \times \frac{110}{100} \times 100x = 660x$

$\therefore$ Total S.P. of 14 chairs = $960x + 660x = 1620x$

Case 2 : 14 chairs sold at 12% profit

=> S.P. of 14 chairs = $14 \times \frac{112}{100} \times 100x = 1568x$

Acc. to ques,

=> $1620x – 1568x = 442$

=> $52x = 442$

=> $xx = \frac{442}{52} = 8.5$

$\therefore$ C.P. of 1 chair = $100 \times 8.5$ = Rs. 850

8) Answer (D)

Let the initial price of the article = Rs. $100x$

Price after 20% increase = $\frac{120}{100} \times 100x = 120x$

Price after 25% decrease = $\frac{75}{100} \times 120x$

= $90x$

$\therefore$ Net % change = $\frac{100x – 90x}{100x} \times 100$

= $10 \%$

9) Answer (C)

Let cost price = Rs. $100x$

=> Selling price = $100x + \frac{8}{100} \times 100x$

= $108x$

Now, after offering 12% discount, Marked price = $\frac{88}{100} \times 1080 = 108x$

=> $\frac{88}{10} = \frac{108x}{108}$

=> $x = \frac{88}{10} = 8.8$

$\therefore$ C.P. = 100 * 8.8 = Rs. 880

10) Answer (C)

Let the Marked Price = Rs. 100

=> Selling price = $\frac{80}{100} \times 100 = 80$

$\therefore$ Cost price = $\frac{100}{125} \times 80 = 64$

When discount of 10% is allowed

=> S.P. = $\frac{90}{100} \times 100 = 90$

$\therefore$ Required Profit % = $\frac{90 – 64}{64} \times 100$

= $\frac{325}{8} = 40\frac{5}{8} \%$

11) Answer (B)

Let cost price of the article = Rs. $100x$

Loss % = 8%

=> Selling price = $\frac{92}{100} \times 100x = 1380$

=> $x = \frac{1380}{92} = 15$

=> C.P. = $100 \times 15$ = Rs. $1,500$

Profit % = 8%

$\therefore$ Selling price = $\frac{108}{100} \times 1500$

= $108 \times 15$ = Rs. $1,620$

12) Answer (A)

CP of B = CP of A +150
SP of A = 1.10 $\times$ CP of A
SP of B = 0.8 $\times$ CP of B = 0.8 $\times$ (CP of A +150)
SP of A : SP of B = 11: 12
1.10 $\times$ CP of A : 0.8 $\times$ (CP of A +150) = 11:12
13.2 $\times$ CP of A = 8.8 $\times$ (CP of A +150)
13.2 $\times$ CP of A – 8.8 $\times$ CP of A = 1320
4.4 $\times$ CP of A = 1320
CP of A = 1320/4.4 = 300
CP of B = Rs. 450/-
Option A is the correct answer.

13) Answer (A)

CP of Air Conditioner = Rs 12000
SP of Air Conditioner = Rs 15000
Profit = Rs 3000
Profit % = 3000 $ \times \frac{100}{12000}$ = 25%

14) Answer (E)

Selling Price = Cost Price$\times$(1-$\frac{\text{Loss percentage}}{100}$)
28,160 = Cost Price$\times$(1-0.15)
28,160 = Cost Price$\times$(0.85)$\approx$33129
Selling Price for profit of 25% = Cost Price $\times$ (1+0.25) = 33129$\times$1.25 $\approx$ =41411
Hence Option E is the correct answer.

15) Answer (B)

C.P of article = 6500 * (100/80)

= Rs. 8125

S.P for a gain of 20% = (8125*120)/100 = Rs. 9750

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