(i) A shopkeeper bought an item for Rs. 200 and sold it for Rs. 250. What is the profit percentage?
(a) 20%
(b) 25%
(c) 30%
(d) 35%
Ans: (b) 25%
Sol: Profit = SP  CP = 250  200 = Rs. 50
Profit Percentage = (Profit / CP) x 100 = (50 / 200) x 100 = 25%
(ii) If a product is marked at Rs. 500 and sold at a 10% discount, what is the selling price?
(a) Rs. 450
(b) Rs. 460
(c) Rs. 470
(d) Rs. 480
Ans: (a) Rs. 450
Sol: Discount = (Discount% / 100) x MP = (10 / 100) x 500 = Rs. 50
SP = MP  Discount = 500  50 = Rs. 450
(iii) A shopkeeper sells a bicycle for Rs. 8000 and gains 20% profit. What was the cost price?
(a) Rs. 6000
(b) Rs. 6500
(c) Rs. 6600
(d) Rs. 6700
Ans: (c) Rs. 6600
Sol: Profit Percentage = (Profit / CP) x 100
SP = CP + Profit
20 = (SP  CP) / CP x 100
20 = (8000  CP) / CP x 100
CP = Rs. 6600
(iv) A man bought a TV for Rs. 25000 and sold it at a 5% loss. What was the selling price?
(a) Rs. 23500
(b) Rs. 24000
(c) Rs. 24750
(d) Rs. 25000
Ans: (c) Rs. 24750
Sol: Loss = (Loss% / 100) x CP = (5 / 100) x 25000 = Rs. 1250
SP = CP  Loss = 25000  1250 = Rs. 23750
(v) A pen costs Rs. 60 after a 20% discount. What is the marked price?
(a) Rs. 70
(b) Rs. 72
(c) Rs. 75
(d) Rs. 80
Ans: (d) Rs. 80
Sol: SP = MP  (Discount% x MP / 100)
60 = MP  (20 x MP / 100)
MP = 60 / 0.8 = Rs. 75
(i) If the cost price is Rs. 100 and the selling price is Rs. 110, then the profit percentage is 10%.
Ans: True
Sol: Profit = SP  CP = 110  100 = Rs. 10
Profit Percentage = (Profit / CP) x 100 = (10 / 100) x 100 = 10%
Since the profit percentage calculation matches the given statement, it is true.
(ii) Selling an item at a price lower than its cost price always results in a profit.
Ans: False
Sol: Selling an item at a price lower than its cost price results in a loss, not a profit. The correct calculation is Loss = CP  SP when SP < CP.
(iii) The discount percentage is calculated based on the selling price.
Ans: False
Sol: The discount percentage is actually calculated based on the marked price (MP), not the selling price (SP). The formula for the discount percentage is (Discount / MP) x 100.
(iv) If a shopkeeper sells an item at a loss, then the selling price is less than the cost price.
Ans: True
Sol: A loss occurs when the selling price (SP) is less than the cost price (CP). Therefore, if there is a loss, SP < CP, which confirms the statement is true.
(v) Marked price and selling price are always the same.
Ans: False
Sol: The marked price (MP) is the initial price set by the seller, while the selling price (SP) can be different due to discounts or negotiations. Therefore, MP and SP are not always the same.
(i) Calculate the loss percentage if the cost price is Rs. 150 and the selling price is Rs. 120.
Ans: Loss = CP  SP = 150  120 = Rs. 30
Loss Percentage = (30 / 150) x 100 = 20%
(ii) If a seller gains 15% profit on selling an article for Rs. 690, find the cost price.
Ans: Profit Percentage = (Profit / CP) x 100
CP = SP / (1 + P%) = 690 / 1.15 = Rs. 600
(iii) A product is marked at Rs. 2000 and sold for Rs. 1800. What is the discount percentage?
Ans: Discount = MP  SP = 2000  1800 = Rs. 200
Discount Percentage = (200 / 2000) x 100 = 10%
(iv) What is the selling price if a shopkeeper wants to gain 25% profit on an item whose cost price is Rs. 400?
Ans: Profit = 25% of CP = (25 / 100) x 400 = Rs. 100
SP = CP + Profit = 400 + 100 = Rs. 500
(v) A man buys a book for Rs. 300 and sells it for Rs. 270. Calculate the loss and loss percentage.Ans: Loss = CP  SP = 300  270 = Rs. 30
Loss Percentage = (30 / 300) x 100 = 10%
30 videos64 docs19 tests

1. What is the difference between profit and loss? 
2. How can a company increase its profits? 
3. What are common expenses that can lead to a business experiencing a loss? 
4. How can a business calculate its profit margin? 
5. What are some strategies for managing losses and turning a profit? 

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