# Profit and Loss Quiz Set 006

### Question 1

A loss of x% is incurred if an item is sold for Rs. 5800. But if the same item is sold for Rs. 19200 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 9%?

A

Rs. 13625.

B

Rs. 13626.

C

Rs. 13624.

D

Rs. 13627.

Soln.
Ans: a

Let the cost of the item be C. Then, \${C - 5800}/C\$ = \${19200 - C}/C\$, which gives C = Rs. 12500. To sell it it a profit of 9%, \${S - 12500}/12500\$ × 100 = 9, which gives S = Rs. 13625.

### Question 2

A merchant is selling cloth at a profit of 328%. If the cost increases by 7%, but he continues to sell at the same price, then what is the new profit percentage?

A

300%.

B

400%.

C

200%.

D

500%.

Soln.
Ans: a

Let the cost price be CP. Then the SP = CP x (1 + \$328/100\$) = \$428/100\$ × CP. New CP = (1 + \$7/100\$) × CP, which is \$107/100\$ × CP. New Profit% = (SP/CP - 1) × 100, which is \$(({428/100 × CP}/{107/100 × CP}) - 1) × 100)\$, which becomes \$(428 - 107)/107\$ × 100 = 300%.

### Question 3

Articles are purhcased at the rate of 8 articles for Rs. 5. They are sold at 5 articles for Rs. 8. The profit earned in rupees by selling 40 articles would be?

A

Rs. 39.

B

Rs. 40.

C

Rs. 41.

D

Rs. 38.

Soln.
Ans: a

Let 40 articles be purchased and then sold back. Cost of 40 articles = \$5/8\$ × 40 = Rs. 25. Sale of 40 articles = \$8/5\$ × 40 = Rs. 64. The profit is 64 - 25 = Rs. 39

### Question 4

An item has a printed price of Rs. 2280 which includes the shopkeeper's profit of 20%. What is the cost price of the shopkeeper?

A

Rs. 1900.

B

Rs. 1910.

C

Rs. 1895.

D

Rs. 1905.

Soln.
Ans: a

If the sale price is (100 + 20), i.e. Rs. 120, then cost is Rs. 100. So if the sale is Rs. 2280, the cost = \$100/120\$ × 2280 = Rs. 1900.

### Question 5

4640 items are purchased at a cost of Rs. 10. How many items should be sold for Rs. 10 to make a profit of 16%?

A

4000.

B

4001.

C

3999.

D

4002.

Soln.
Ans: a

The sale price should be 10 × (1 + 16/100), which equals Rs. 1160/100. So, Rs. 1160/100 is the sale price of 4640 items. And, 10 shall be the sale price of \$(4640 × 100/1160)\$ × 10 = 4000 items. 