Tag: profit - loss

Questions Related to profit - loss

A trader buys some goods for Rs $150$. If the overhead expenses be $12\%$ of cost price, then at what price should it be sold to earn $10\%$ profit?

maths profit - loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

  1. Rs $184.80$

  2. Rs $185.80$

  3. Rs $187.80$

  4. Rs $188.80$

Show answer
Correct Option: A
Explanation:
Total CP = (CP + Overhead expenses) 
Total CP $= 150 + 12\%\, of\, 150 $
Total CP $=150 + \dfrac{12}{100}\times 150= Rs.168$
Given that, gain $= 10\%$
Therefore, $SP = \dfrac{110}{100}\times 168 = Rs.184.80$

$Assertion$ (A) By the early 20th century, America became the biggest supplier of wheat to Europe.

$Reason$ (R) The expansion of the railways during the period greatly facilitated the transport of grain.

maths profit - loss overhead expenses introduction to total cost price of the article profit and loss with overhead expenses

  1. A is true, R is false.

  2. A is false, R is true.

  3. Both A and R are true, but R is not the correct explanation of A.

  4. Both A and R are true and R is the correct explanation of A.

Show answer
Correct Option: C
Explanation:

By the early 20th century, America became the biggest supplier of wheat to Europe. This is because wheat production is highest in America at that time due to adoption of various new technology, climate change, etc. Hence, option (c) is correct as reason is incorrect explanation of assertion.