Aptitude Day 356

Problems on Profit and Loss:

1. The ratio between the sale price and the cost price of an article is 8: 7. What’s the ratio between the profit and the cost price of that article?

Solution:

                  Gain = 8x-7x = x.

                  Required ratio = x: 7x

                                          = 1: 7.

2. If the selling price is doubled, the profit triples. Find the profit percent.

Solution:

                  Let C.P be x and S.P be y.

                  3(y-x) = (2y-x)

                  y = 2x.

                  Profit =y-x = 2x-x = x.

                  Profit % = x/x * 100 = 100%.