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```1)A boy buying an article for Rs.350 and sells it for Rs.850. Find profit and loss.

A) Rs.600

B) Rs.500

C) Rs.700

B) Rs.800

**Answer:**RS.500

**Explanation:**
Here, SP > CP

SO profit is earned.

According to the formula,

Profit= SP-CP = 850-350 = RS.500.

```
```2)Pinku purchased a car for RS.7 lakh and sold it for RS. 5 lakh.Find profit/loss
For this transaction.

A) Rs.2 lakh
B) Rs.3 lakh
C) Rs.4 lakh
D) Rs.5 lakh

**Answer:**A) Rs.2 lakh

**Explanation:**
Here SP < CP

So loss is incurred in this case.

According to the formula,

Loss= CP -SP = 7-5 = Rs.2 lakh.

```
```3)A person buys a toy for RS.60 and sells it for RS. 85.What will be his gain percent ?

**Answer:**41.66%

**Explanation:**
Given , CP= RS. 60 and SP= RS. 85

Profit = SP-CP = 85 - 60 = RS. 25

According to the formula,

Gain % = profit/CP*100 = 25/60*100 = 41.66%.

```
```4)A person buys a cycle for RS. 550 but because of certain urgency,he sells it for RS. 450.
Find his loss percent.

**Answer:**18.18 %

**Explanation:**
Given, CP = RS. 550 and SP = RS. 450

Loss = CP-SP = 550 - 450 = RS.100

According to the formula,

L oss % = Loss/ CP*100%

= 100/550*100

= 18.18 %

```
```5)Find the SP , when CP is 70 and gain is 10%.

**Answer:** RS. 77

**Explanation:**
Given , CP = RS. 70 and gain = 10%

SP = ( 100+ Gain%/100) * CP

SP= ( 100 + 10 / 100 ) * 70

= 110 / 100 * 70

=11*7

= RS. 77.

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