Profit and Loss Quiz Set 008 | Maths Aptitude Mock Test on Profit and Loss Set 8 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

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Question 1

When 13 items are sold at an amount of Rs. 49, a loss equal to the cost of 6 items is incurred. What is the cost of one item?

Rs. 7.

Rs. 8.

Rs. 9.

Rs. 6.

Soln.
Ans: a

Let the cost per item be c. Then loss = 6c. So we can write 13c - 49 = 6c. Solving we get c = Rs. 7.

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Question 2

The total cost of two cows is Rs. 1125. The owner sells the first cow at a profit of 35%, and the second one at a loss of 10%. If he sells them at the same price, what are the costs of the two cows?

Rs. 450 and 675.

Rs. 550 and 575.

Rs. 400 and 725.

Rs. 225 and 900.

Soln.
Ans: a

Let the costs of the cows be C and 1125 - C. The sale price is given as same. So (100 + 35) × C = (100 - 10) × (1125 - C). Simplifying, we get 135 × C = 90 × (1125 - C). Solving for C we get, C = Rs. 450. The cost of the other cow is 1125 - 450 = Rs. 675.

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Question 3

1776 items are purchased at a cost of Rs. 8. How many items should be sold for Rs. 8 to make a profit of 11%?

1600.

1601.

1599.

1602.

Soln.
Ans: a

The sale price should be 8 × (1 + 11/100), which equals Rs. 888/100. So, Rs. 888/100 is the sale price of 1776 items. And, 8 shall be the sale price of $(1776 × 100/888)$ × 8 = 1600 items.

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Question 4

A loss of 10% is made by selling an article at Rs. 270. What is the cost of the article?

300.

310.

320.

295.

Soln.
Ans: a

Build it like this: if the sale is 100 - 10 = 90, the cost is Rs. 100. So, when the sale is 270 the cost should be ${100/90} × 270$ = Rs. 300.

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Question 5

The cost price of 280 items is same as the sale price of N items. If the profit is 40%, then what is N?

200.

201.

199.

202.

Soln.
Ans: a

Let the cost per unit be r. CP of N items is rN, and SP of N items is already given to us as 280r. Profit percent is ${{280r - rN}/{rN}} × 100$ = 40. Cancelling r, and solving for N we get N = 200.

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