Profit and Loss Quiz Set 010 | Maths Aptitude Mock Test on Profit and Loss Set 10 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

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Question 1

Articles are purhcased at the rate of 7 articles for Rs. 4. They are sold at 4 articles for Rs. 7. The profit earned in rupees by selling 28 articles would be?

Rs. 33.

Rs. 34.

Rs. 35.

Rs. 32.

Soln.
Ans: a

Let 28 articles be purchased and then sold back. Cost of 28 articles = $4/7$ × 28 = Rs. 16. Sale of 28 articles = $7/4$ × 28 = Rs. 49. The profit is 49 - 16 = Rs. 33

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Question 2

An article was purchased at ${9/10}$ of its marked price. Later it was sold at a 5% more than the marked price. What is the profit percentage?

$16{2/3}$%.

$17{1/7}$%.

$16{8/37}$%.

$15{15/19}$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (9/10) × 100 = 90. The profit 105 - 90 = Rs. 15. Percent profit = $15/90$ × 100 = $16{2/3}$%.

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Question 3

The cost price of 80 items is same as the sale price of N items. If the profit is 220%, then what is N?

25.

26.

24.

27.

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 80r. Profit percent is ${{80r - rN}/{rN}} × 100$ = 220. Cancelling r, and solving for N we get N = 25.

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Question 4

A loss of 20% is made by selling an article at Rs. 320. What is the cost of the article?

400.

410.

420.

395.

Soln.
Ans: a

Build it like this: if the sale is 100 - 20 = 80, the cost is Rs. 100. So, when the sale is 320 the cost should be ${100/80} × 320$ = Rs. 400.

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Question 5

A loss of x% is incurred if an item is sold for Rs. 4000. But if the same item is sold for Rs. 17400 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 25%?

Rs. 13375.

Rs. 13376.

Rs. 13374.

Rs. 13377.

Soln.
Ans: a

Let the cost of the item be C. Then, ${C - 4000}/C$ = ${17400 - C}/C$, which gives C = Rs. 10700. To sell it it a profit of 25%, ${S - 10700}/10700$ × 100 = 25, which gives S = Rs. 13375.

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