# Profit and Loss Quiz Set 001

### Question 1

Goods are purchased at a cost price of Rs. 900 and sold at a loss of 25%. What is the sale price?

A

Rs. 675.

B

Rs. 676.

C

Rs. 674.

D

Rs. 677.

Soln.
Ans: a

The loss in rupees is cost × 25%. Which is \${900 × 25}/100\$ = Rs. 225. So the sale price is cost - loss = 900 - 225 = Rs. 675.

### Question 2

A retailer makes a gain of 20% when he sells the first item for Rs. 480. But he suffers a loss of 5% when he sells the second item for Rs. 570. What is his combined loss or gain?

A

5.

B

6.

C

7.

D

4.

Soln.
Ans: a

The cost of the first item is 480 × \$100/{100 + 20}\$ which is Rs. 400. The cost of the second item is 570 × \$100/{100 - 5}\$ which is Rs. 600. The combined cost is 400 + 600 = Rs. 1000. The combined sale is 480 + 570 = Rs. 1050. The profit percent is 100 × \${1050 - 1000}/1000\$, which is 5%.

### Question 3

Mr. X purchased a machine at a cost of Rs. 3100. After spending Rs. 1000 on its repairs, he sells it at a price of Rs 4838. What is the profit percentage?

A

18%.

B

19%.

C

17%.

D

20%.

Soln.
Ans: a

The profit is sale price - total cost = \$4838 - (3100 + 1000)\$ = 738. Percent profit is \${738/4100} × 100\$, which gives 18%.

### Question 4

An item has a printed price of Rs. 5060 which includes the shopkeeper's profit of 15%. What is the cost price of the shopkeeper?

A

Rs. 4400.

B

Rs. 4410.

C

Rs. 4395.

D

Rs. 4405.

Soln.
Ans: a

If the sale price is (100 + 15), i.e. Rs. 115, then cost is Rs. 100. So if the sale is Rs. 5060, the cost = \$100/115\$ × 5060 = Rs. 4400.

### Question 5

Articles are purhcased at the rate of 7 articles for Rs. 3. They are sold at 3 articles for Rs. 7. The profit earned in rupees by selling 21 articles would be?

A

Rs. 40.

B

Rs. 41.

C

Rs. 42.

D

Rs. 39.

Soln.
Ans: a

Let 21 articles be purchased and then sold back. Cost of 21 articles = \$3/7\$ × 21 = Rs. 9. Sale of 21 articles = \$7/3\$ × 21 = Rs. 49. The profit is 49 - 9 = Rs. 40 