Profit and Loss Quiz Set 002

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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.


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This Blog Post/Article "Profit and Loss Quiz Set 002" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-06-24.

Posted by Parveen(Hoven),
Aptitude Trainer


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