Profit and loss 2

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Question 6: A dishonest merchant sells his grocery using weights 15% less than the true weights and makes a profit of 20%. Find his total gain percentage.

Solution:

Let us consider 1 kg of grocery bag. Its actual weight is 85% of 1000 gm = 850 gm.

Let the cost price of each gram be Re. 1. Then the CP of each bag = Rs. 850.

SP of 1 kg of bag = 120% of the true CP

Therefore, SP = 120/100 * 1000 = Rs. 1200

Gain = 1200 – 850 = 350

Hence Gain % = 350/850 * 100 = 41.17%

Question 7: A man bought two bicycles for Rs. 2500 each. If he sells one at a profit of 5%, then how much should he sell the other so that he makes a profit of 20% on the whole?

Solution:

Before we start, it’s important to note here that it is not 15% to be added to 5% to make it a total of 20%.

Let the other profit percent be x.

Then, our equation looks like this.

105/100 * 2500 + [(100+x)/100] * 2500 = 120/100 * 5000 → x= 35.

Hence, if he makes a profit of 35% on the second, it comes to a total of 20% profit on the whole.

Question 8: A shopkeeper allows a discount of 10% on the marked price and still gains 17% on the whole. Find at what percent above the cost price did he mark his goods.

Solution:

Let the cost price be 100. Then SP = 117.

Let the marked price be x.

So, 90% of x = 117 → x = 130.

Therefore, he marked his goods 30% above the cost price.

Question 9: A shopkeeper offers a discount of 20% on the selling price. On a special sale day, he offers an extra 25% off coupon after the first discount. If the article was sold for Rs. 3600, find

1. The marked price of the article and
2. The cost price if the shopkeeper still makes a profit of 80% on the whole after all discounts are applied.

Solution:

Let the marked price of the article be x.

First a 20% discount was offered, on which another 25% discount was offered.

So, 75% of 80% of x = 3600

75/100 * 80/100 * x = 3600 → x = 6000.

So the article was marked at Rs. 6000.

Cost price of the article = [100/(100+80)]*3600 = Rs. 2000.

It is important to note here that this DOES NOT equal to a 45% discount on the whole. When different discounts are applied successively, they CANNOT be added.