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1. A girl buys a toy for Rs 25 and sells it for Rs 30. What is her profit or loss percentage?
  A.   20% Loss
  B.   20% Gain
  C.   27.5% Gain
  D.   None of the above
     
   
View Answer

Shortcut:
Profit or Loss percentage =
Net gain or loss / Cost Price
x 100
Here, C.P = 25, S.P = 30, If S.P > C.P, then the deal is in profit/gain.
Net Gain = S.P − C.P = 30 − 25 = Rs 5 /br> Using these value in shortcut, we get:
Gain % =
5 / 25
x 100 = 20
Hence, the girl's profit % is 20%.

2. A man purchases a book for Rs 50 and sells it for Rs 45. What is his profit or loss percentage?
  A.   10% Gain
  B.  15% Loss
  C.   5% Gain
  D.  10 % Loss
     
   
View Answer

Shortcut:
Profit or Loss percentage =
Net gain or loss / Cost Price
x 100
Here, C.P = 50, S.P = 45, If C.P > S.P, then the deal is in loss.
Net Loss = C.P − S.P = 50 − 45 = Rs 5 /br> Using these value in shortcut, we get:
Loss % =
5 / 50
x 100 = 10
Hence, there is 10% loss in the deal.

3. By selling an article for Rs 96, double profit is obtained than the profit that would have been obtained by selling it for Rs 84. What is its cost Price (C.P)
  A.  Rs. 62
  B.  Rs 75
  C.  Rs 70
  D.  Rs 72
     
   
View Answer

Let the C.P of the article is Rs y.
Then, according to the question:
2(84 − y) = 96 − y
168 − 2y = 96 − y
y = 168 − 96 = 72
Hence, the C.P = Rs 72.

4. A bag of Apples was purchased for Rs 300 and he sold them for Rs 255. What is loss percentage?
  A.  5%
  B.  10%
  C.  15%
  D.  20%
     
   
View Answer

Shortcut:
profit or loss percentage =
Net gain or loss / Cost Price
x 100
Here, C.P = 300, S.P = 255, If C.P > S.P, then the deal is in loss.
Net Loss = C.P − S.P = 300 − 255 = Rs 45 /br> Using these value in shortcut, we get:
Loss % =
45 / 300
x 100 = 15
Hence, there is 15% loss in the deal.

5. Usha bought a second-hand UPS for Rs 1200 and spent Rs 200 on its repairs. She sold it for Rs 1680. Find her profit or loss percentage?
  A.  20% Gain
  B.  15% Loss
  C.  20% Loss
  D.  15% Gain
     
   
View Answer

Shortcut:
profit or loss percentage =
Net gain or loss / Cost Price
x 100
Here, C.P = 1200 + 200 = 1400 (Expenditure is added in C.P), S.P = 1680, If S.P > C.P, then the deal is in gain.
Net Gain = S.P − C.P = 1680 − 1400 = Rs 280 /br> Using these value in shortcut, we get:
Gain % =
280 / 1400
x 100 = 20
Hence, there is 20% gain in the deal.

6. Lalit purchased 20 dozens of pens at the rate of RS 375 per dozen. He sold each one of them at the rate of Rs 33. What was his profit percentage?
  A.  10%
  B.  5.6%
  C.  5%
  D.  15%
     
   
View Answer

Shortcut:
profit or loss percentage =
Net gain or loss / Cost Price
x 100
Here, Total pens = 20 x 12 = 240
Cost Price of 20 dozens pens = Rs 20 x 375 = Rs 7500
⇒ The cost Price of 240 pens = Rs 7500
The cost price of 1 pen = 7500/240 = 31.25
Selling Price of 1 pen = Rs 33
If S.P > C.P, then the deal is in gain.
Net Gain = S.P − C.P = 33 − 31.25 = Rs 1.75
Using these value in shortcut, we get:
Gain % =
1.75 / 31.25
x 100 = 5.6% Hence, Lalit get 5.6% gain in the deal.

7. A man buys 10 items for Rs 8 and sells them at the rate of Rs 1.25 per item. His gain percentage is.
  A.  52.5%
  B.  45.25
  C.  55.5%
  D.  56.25%
     
   
View Answer

Shortcut:
profit or loss percentage =
Net gain or loss / Cost Price
x 100
Here, Cost Price of 10 items = Rs 8
The cost Price of 1 item = 8/10 = 0.8 Paise
Selling Price of 1 item = Rs 1.25
If S.P > C.P, then the deal is in gain.
Net Gain = S.P − C.P = 1.25 − 0.8 = 0.45 Paise
Using these value in shortcut, we get:
Gain % =
0.45 / 0.8
x 100 = 56.25% Hence, Lalit get 56.25% gain in the deal.

8. Sumit purchased 120 reams of paper at Rs 80 per ream. He spent Rs 280 on transportation, paid octroi at the rate of 40 paise per ream and paid Rs 72 to the coolie. If he wants to have a gain of 8%, the selling price (S.P) per ream must be:
  A.  Rs 90
  B.  Rs 100
  C.  Rs 80
  D.  None of the above
     
   
View Answer

Shortcut:
S.P =
C.P (100 + gain%) / 100

Here, Cost Price of 120 reams = 120 x 80 = Rs 9600
Transportation cost = Rs 280
Octroi = 120 x 0.40 = Rs 48
Coolie charges = Rs 72
Total Expenditure = 280 + 48 + 72 = Rs 400
Total C.P of 120 reams = 9600 + 400 = Rs 10,000
Total C.P of 1 ream = 10000/120 = 1000/12 = 500/6 = Rs 250/3
Gain % = 8%
Using these value in shortcut, we get:
S.P =
250/3 x (100 + 8) / 100
=
250 x 108 / 3 x 100
= 2.5 x 36 = 90
Hence, S.P will be Rs 90.

9. If I purchased 11 books for Rs 10 and sold all the books at the rate of 10 books for Rs 11, find the profit percentage.
  A.  23%
  B.  21%
  C.  20%
  D.  25%
     
   
View Answer

Shortcut:
Gain % =
Net gain / C.P
x 100
Here, Cost Price of 1 book = Rs 10/11
S.P of 1 book = Rs 11/10
If, S.P > C.P, then there is gain in trade.
Gain = S.P − C.P = 11/10 − 10/11 = 21/110
Using these value in shortcut, we get:
Gain % =
21/110 / 10/11
x 100 =
21 x 11 / 110 x 10
x 100 = 21
Hence, Gain % will be Rs 21%.

10. Hemu bought 150 dozen pencils at Rs 10 per dozen. His overhead expenses were Rs 100. He sold them at Rs 1.20 each. What was his profit or loss percentage?
  A.  35% Loss
  B.  30% Gain
  C.  35% Profit
  D.  30% Loss
     
   
View Answer

Shortcut:
Gain % =
Net gain / C.P
x 100
Here, Total pencils = 150 x 12 = 1800
Cost Price of 150 dozen pencils = 150 x 10 = Rs 1500
Overhead Expenses = Rs 100
Total C.P = 1500 + 100 = Rs 1600
S.P of 1 book = Rs 1.20
S.P of 1800 book = 1800 x 1.20 = Rs 2160
If, S.P > C.P, then there is gain in trade.
Gain = S.P - C.P = 2160 − 1600 = 560
Using these value in shortcut, we get:
Gain % =
560 / 1600
x 100 =
56 / 160
x 100 = 35%
Hence, Gain % will be Rs 35%.

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