Profit and Loss Quiz Set 009

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Question 1

A packet of 100 electronics components is purchased at a cost of Rs. 300. Each component is sold at Rs. 24. What is the profit in percent terms?

 A

700%.

 B

710%.

 C

695%.

 D

705%.

Soln.
Ans: a

Cost of each component = 300/100 = Rs. 3. Profit per component = 24 - 3 = 21. Profit percentage = (21/3) × 100 = 700%.

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Question 2

Goods are purchased at a cost price of Rs. 600 and sold at a loss of 50%. What is the sale price?

 A

Rs. 300.

 B

Rs. 301.

 C

Rs. 299.

 D

Rs. 302.

Soln.
Ans: a

The loss in rupees is cost × 50%. Which is ${600 × 50}/100$ = Rs. 300. So the sale price is cost - loss = 600 - 300 = Rs. 300.

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Question 3

A profit of 20% is made by selling an article at Rs. 120. What is the cost of the article?

 A

100.

 B

110.

 C

120.

 D

95.

Soln.
Ans: a

Build it like this: if the sale is 120, the cost is Rs. 100. So, when the sale is 120 the cost should be ${100/120} × 120$ = Rs. 100.

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Question 4

An item has a printed price of Rs. 5760 which includes the shopkeeper's profit of 20%. What is the cost price of the shopkeeper?

 A

Rs. 4800.

 B

Rs. 4810.

 C

Rs. 4795.

 D

Rs. 4805.

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. 5760, the cost = $100/120$ × 5760 = Rs. 4800.

Solution | Discuss! | Chapters»

Question 5

An article was purchased at ${2/25}$ of its marked price. Later it was sold at a 2% more than the marked price. What is the profit percentage?

 A

1175%.

 B

$1236{16/19}$%.

 C

$1119{1/21}$%.

 D

$1068{2/11}$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (2/25) × 100 = 8. The profit 102 - 8 = Rs. 94. Percent profit = $94/8$ × 100 = 1175%.

Solution | Discuss! | Chapters»
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Updated on 2020-02-07. Published on: 2016-04-24

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