Profit and Loss Quiz Set 006 | Maths Aptitude Mock Test on Profit and Loss Set 6 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

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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%?

Rs. 13625.

Rs. 13626.

Rs. 13624.

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.

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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?

300%.

400%.

200%.

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%.

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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?

Rs. 39.

Rs. 40.

Rs. 41.

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

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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?

Rs. 1900.

Rs. 1910.

Rs. 1895.

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.

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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%?

4000.

4001.

3999.

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.

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