# Profit and Loss Quiz Set 003

### Question 1

A retailer makes a gain of 30% when he sells the first item for Rs. 1170. But he suffers a loss of 30% when he sells the second item for Rs. 280. What is his combined loss or gain?

A

\$11{7/13}\$.

B

\$12{7/13}\$.

C

\$13{7/13}\$.

D

\$10{7/13}\$.

Soln.
Ans: a

The cost of the first item is 1170 × \$100/{100 + 30}\$ which is Rs. 900. The cost of the second item is 280 × \$100/{100 - 30}\$ which is Rs. 400. The combined cost is 900 + 400 = Rs. 1300. The combined sale is 1170 + 280 = Rs. 1450. The profit percent is 100 × \${1450 - 1300}/1300\$, which is \$11{7/13}\$%.

### Question 2

A retailer buys an item of marked price Rs. 7000 at a discount of 15%. What will be his profit percentage(approx.) when he sells it at the marked price?

A

17% (approx.).

B

27% (approx.).

C

12% (approx.).

D

22% (approx.).

Soln.
Ans: a

The discount is 15 % of 7000 = \${15 × 7000}/100\$ = Rs. 1050. The cost to the retailer is \$7000 - 1050\$ = Rs. 5950. The discount that he gets from the wholesaler becomes his profit = Rs. 1050. So Profit% = \${1050 × 100}/5950\$ = 17%(approx.).

### Question 3

A loss of x% is incurred if an item is sold for Rs. 5400. But if the same item is sold for Rs. 14800 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 36%?

A

Rs. 13736.

B

Rs. 13737.

C

Rs. 13735.

D

Rs. 13738.

Soln.
Ans: a

Let the cost of the item be C. Then, \${C - 5400}/C\$ = \${14800 - C}/C\$, which gives C = Rs. 10100. To sell it it a profit of 36%, \${S - 10100}/10100\$ × 100 = 36, which gives S = Rs. 13736.

### Question 4

A merchant purchased 22 Kg of wheat at the rate of 16.00 Rs./Kg, and 78 Kg wheat at 11.00 Rs./Kg. At what rate must he sell the mixture to make an overall gain of 15%?

A

13.92.

B

14.92.

C

12.92.

D

15.92.

Soln.
Ans: a

The overall cost is \$22 × 16 + 78 × 11\$ = Rs. 1210. Add a profit of 15% to get SP = \$1210 + (15 × 1210)/100\$ = Rs. 1391.5. So the rate = \$1391.5/{22 + 78}\$ = \$1391.5/100\$ = 13.92.

### Question 5

When an item is sold for Rs. 44000, a loss of 64% is incurred. What should be the sale price to earn a profit of 8%?

A

Rs. 132000.

B

Rs. 132010.

C

Rs. 132020.

D

Rs. 131990.

Soln.
Ans: a

As a shortcut, we can set a proportionality \${X/{100 + 8}\$ = \${44000/{100 - 64}.\$ Solving, X = 108 × \$44000/\$36, which gives X = 132000. 