Profit and Loss

(6) A mobile phone is sold for Rs. 7200, resulting in a profit of 20%. What is the cost price of the mobile phone?

• (a) Rs. 6000
• (b) Rs. 6000
• (c) Rs. 8000
• (d) Rs. 7200

Answer

Correct Answer: (b) Rs. 6000
The cost price (C.P.) can be found using the formula C.P. = \frac{S.P.}{(1 + \frac{Profit\%}{100})} . Hence, C.P. = \frac{7200}{(1 + \frac{20}{100})} = \frac{7200}{1.20} = Rs. 6000 .

(7) A computer was purchased for Rs. 25,000 and sold at a loss of 12.5%. What was the selling price of the computer?

• (a) Rs. 22,000
• (b) Rs. 21,875
• (c) Rs. 21,875
• (d) Rs. 24,000

Answer

Correct Answer: (c) Rs. 21,875
The selling price (S.P.) can be calculated using the formula S.P. = C.P. \times (1 - \frac{Loss\%}{100}) . So, S.P. = 25000 \times (1 - \frac{12.5}{100}) = 25000 \times 0.875 = Rs. 21,875 .

(8) A trader marked the price of a watch at Rs. 3200 and sold it at a profit of 20%. What was the profit made on the watch?

• (a) Rs. 400
• (b) Rs. 400
• (c) Rs. 600
• (d) Rs. 800

Answer

Correct Answer: (b) Rs. 400
The profit made can be calculated using the formula Profit = S.P. - C.P. . First, calculate the cost price (C.P.) using the formula C.P. = \frac{M.P.}{(1 + \frac{Profit\%}{100})} . C.P. = \frac{3200}{(1 + \frac{20}{100})} = \frac{3200}{1.20} = Rs. 2667 . Then, calculate the profit: Profit = S.P. - C.P. = 3200 - 2667 = Rs. 400 .

(9) A pair of shoes is bought for Rs. 1200 and sold at a loss of 15%. What is the selling price of the shoes?

• (a) Rs. 1100
• (b) Rs. 1150
• (c) Rs. 1120
• (d) Rs. 1020

Answer

Correct Answer: (d) Rs. 1020
The selling price (S.P.) can be calculated using the formula S.P. = C.P. \times (1 - \frac{Loss\%}{100}) . So, S.P. = 1200 \times (1 - \frac{15}{100}) = 1200 \times 0.85 = Rs. 1020 .

(10) A store purchased a batch of 50 mobile phones for Rs. 30,000 and sold each phone for Rs. 700, making a profit of Rs. 100 on each phone. What was the percentage profit earned on the batch of mobile phones?

• (a) 30%
• (b) 25%
• (c) 15%
• (d) 20%

Answer

Correct Answer: (d) 20%
The percentage profit can be calculated using the formula Profit\% = \frac{Profit}{C.P.} \times 100 . Each phone made a profit of Rs. 100, and the total cost price (C.P.) of the batch was Rs. 30,000. Therefore, Profit\% = \frac{100}{30000} \times 100 = \frac{1}{300} \times 100 = 20\% .