# Profit and Loss Quiz Set 002

### Question 1

A profit of 40% is made by selling an article at Rs. 980. What is the cost of the article?

A

700.

B

710.

C

720.

D

695.

Soln.
Ans: a

Build it like this: if the sale is 140, the cost is Rs. 100. So, when the sale is 980 the cost should be \${100/140} × 980\$ = Rs. 700.

### Question 2

Mr. X purchased a machine at a cost of Rs. 8500. After spending Rs. 700 on its repairs, he sells it at a price of Rs 10948. What is the profit percentage?

A

19%.

B

20%.

C

18%.

D

21%.

Soln.
Ans: a

The profit is sale price - total cost = \$10948 - (8500 + 700)\$ = 1748. Percent profit is \${1748/9200} × 100\$, which gives 19%.

### Question 3

A profit of 10% is made by selling an article at Rs. 550. What is the cost of the article?

A

500.

B

510.

C

520.

D

495.

Soln.
Ans: a

Build it like this: if the sale is 110, the cost is Rs. 100. So, when the sale is 550 the cost should be \${100/110} × 550\$ = Rs. 500.

### Question 4

A retailer makes a gain of 30% when he sells the first item for Rs. 650. But he suffers a loss of 15% when he sells the second item for Rs. 510. What is his combined loss or gain?

A

\$5{5/11}\$.

B

\$6{5/11}\$.

C

\$7{5/11}\$.

D

\$4{5/11}\$.

Soln.
Ans: a

The cost of the first item is 650 × \$100/{100 + 30}\$ which is Rs. 500. The cost of the second item is 510 × \$100/{100 - 15}\$ which is Rs. 600. The combined cost is 500 + 600 = Rs. 1100. The combined sale is 650 + 510 = Rs. 1160. The profit percent is 100 × \${1160 - 1100}/1100\$, which is \$5{5/11}\$%.

### Question 5

A merchant purchased 79 Kg of wheat at the rate of 5.00 Rs./Kg, and 21 Kg wheat at 18.00 Rs./Kg. At what rate must he sell the mixture to make an overall gain of 20%?

A

9.28.

B

10.28.

C

8.28.

D

11.28.

Soln.
Ans: a

The overall cost is \$79 × 5 + 21 × 18\$ = Rs. 773. Add a profit of 20% to get SP = \$773 + (20 × 773)/100\$ = Rs. 927.6. So the rate = \$927.6/{79 + 21}\$ = \$927.6/100\$ = 9.28.