Profit and Loss

(46) A pair of shoes was purchased for Rs. 2,800 and sold at a profit of 20%. What was the selling price of the shoes?

• (a) Rs. 3,000
• (b) Rs. 3,360
• (c) Rs. 3,200
• (d) Rs. 3,600

Answer

Correct Answer: (b) Rs. 3,360
The selling price (S.P.) can be calculated using the formula S.P. = C.P. \times (1 + \frac{Profit\%}{100}) . So, S.P. = 2800 \times (1 + \frac{20}{100}) = 2800 \times 1.20 = Rs. 3,360 .

(47) A watch store marked the price of a watch at Rs. 1,500 and offered a 25% discount on it. If a customer bought the watch, what was the amount paid by the customer after the discount?

• (a) Rs. 1,050
• (b) Rs. 1,125
• (c) Rs. 1,200
• (d) Rs. 1,350

Answer

Correct Answer: (b) Rs. 1,125
The amount paid by the customer after the discount can be calculated as Amount\text{ paid} = M.P. \times (1 - \frac{Discount\%}{100}) . So, Amount\text{ paid} = 1500 \times (1 - \frac{25}{100}) = 1500 \times 0.75 = Rs. 1,125 .

(48) A shopkeeper sold 80 calculators at a profit of 15% each. If the cost price of each calculator is Rs. 350, what was the total profit made on all calculators?

• (a) Rs. 3,000
• (b) Rs. 4,200
• (c) Rs. 3,600
• (d) Rs. 4,500

Answer

Correct Answer: (b) Rs. 4,200
The profit made on each calculator is Profit\text{ per calculator} = C.P. \times \frac{Profit\%}{100} = 350 \times \frac{15}{100} = Rs. 52.50 . Therefore, the total profit on 80 calculators is Total\text{ profit} = 80 \times 52.50 = Rs. 4,200 .

(49) A company bought 500 pens for Rs. 6,750 and sold them at Rs. 20 each. What was the percentage profit earned on each pen?

• (a) 33.33%
• (b) 50%
• (c) 25%
• (d) 40%

Answer

Correct Answer: (b) 50%
The percentage profit per pen can be calculated using the formula Profit\% = \frac{Profit}{C.P.} \times 100 . Each pen made a profit of Rs. 20 – Rs. 13.50 = Rs. 6.50, and the cost price (C.P.) of each pen was Rs. 13.50. Therefore, Profit\% = \frac{6.50}{13.50} \times 100 \approx 50\% .

(50) A refrigerator was sold at a loss of 12%. If the selling price was Rs. 32,560, what was the cost price of the refrigerator?

• (a) Rs. 36,950
• (b) Rs. 38,000
• (c) Rs. 37,000
• (d) Rs. 36,200

Answer

Correct Answer: (c) Rs. 37,000
The cost price (C.P.) can be calculated using the formula C.P. = \frac{S.P.}{(1 - \frac{Loss\%}{100})} . So, C.P. = \frac{32560}{(1 - \frac{12}{100})} = \frac{32560}{0.88} = Rs. 37,000 .