ptofit and loss account 9

May 13th, 2015
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Adelphi University
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profit and loss statement describe question with highly intelligent logic

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1.Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:A.44%7B.55%11C.10%D.12%Answer & ExplanationAnswer:OptionBExplanation:Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.Selling Price (S.P.) = Rs. 5800.Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.Gain % =300x 100%= 55%550011View AnswerWorkspaceReportDiscuss in Forum2.The cost price of 20 articles is the same as the selling price ofxarticles. If the profit is 25%, then the value ofxis:A.15B.16C.18D.25Answer & ExplanationAnswer:OptionBExplanation:Let C.P. of each article be Re. 1 C.P. ofxarticles = Rs.x.S.P. ofxarticles = Rs. 20.Profit = Rs. (20 -x).20 -xx 100 = 25x2000 - 100x= 25x125x= 2000x= 16.View AnswerWorkspaceReportDiscuss in Forum3.If selling price is doubled, the profit triples. Find the profit percent.A.6623B.100C.10513D.120Answer & ExplanationAnswer:OptionBExplanation:Let C.P. be Rs.xand S.P. be Rs.y.Then, 3(y-x) = (2y-x) y= 2x.Profit = Rs. (y-x) = Rs. (2x-x) = Rs.x.Profit % =xx 100% = 100%xView AnswerWorkspaceReportDiscuss in Forum4.In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the

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