Profit and Loss Quiz Set 011 | Maths Aptitude Mock Test on Profit and Loss Set 11 | 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 retailer buys an item of marked price Rs. 8600 at a discount of 15%. What will be his profit percentage(approx.) when he sells it at the marked price?

17% (approx.).

27% (approx.).

12% (approx.).

22% (approx.).

Soln.
Ans: a

The discount is 15 % of 8600 = ${15 × 8600}/100$ = Rs. 1290. The cost to the retailer is $8600 - 1290$ = Rs. 7310. The discount that he gets from the wholesaler becomes his profit = Rs. 1290. So Profit% = ${1290 × 100}/7310$ = 17%(approx.).

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Question 2

An item has a printed price of Rs. 4305 which includes the shopkeeper's profit of 5%. What is the cost price of the shopkeeper?

Rs. 4100.

Rs. 4110.

Rs. 4095.

Rs. 4105.

Soln.
Ans: a

If the sale price is (100 + 5), i.e. Rs. 105, then cost is Rs. 100. So if the sale is Rs. 4305, the cost = $100/105$ × 4305 = Rs. 4100.

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Question 3

An article was purchased at ${1/25}$ of its marked price. Later it was sold at a 5% more than the marked price. What is the profit percentage?

2525%.

$3366{2/3}$%.

2020%.

$1683{1/3}$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (1/25) × 100 = 4. The profit 105 - 4 = Rs. 101. Percent profit = $101/4$ × 100 = 2525%.

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Question 4

The total cost of two cows is Rs. 1150. The owner sells the first cow at a profit of 55%, and the second one at a loss of 25%. If he sells them at the same price, what are the costs of the two cows?

Rs. 375 and 775.

Rs. 475 and 675.

Rs. 325 and 825.

Rs. 187 and 963.

Soln.
Ans: a

Let the costs of the cows be C and 1150 - C. The sale price is given as same. So (100 + 55) × C = (100 - 25) × (1150 - C). Simplifying, we get 155 × C = 75 × (1150 - C). Solving for C we get, C = Rs. 375. The cost of the other cow is 1150 - 375 = Rs. 775.

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Question 5

Articles are purhcased at the rate of 5 articles for Rs. 3. They are sold at 3 articles for Rs. 5. The profit earned in rupees by selling 15 articles would be?

Rs. 16.

Rs. 17.

Rs. 18.

Rs. 15.

Soln.
Ans: a

Let 15 articles be purchased and then sold back. Cost of 15 articles = $3/5$ × 15 = Rs. 9. Sale of 15 articles = $5/3$ × 15 = Rs. 25. The profit is 25 - 9 = Rs. 16

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