Profit and Loss Quiz Set 012 | Maths Aptitude Mock Test on Profit and Loss Set 12 | 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 packet of 100 electronics components is purchased at a cost of Rs. 600. Each component is sold at Rs. 54. What is the profit in percent terms?

800%.

810%.

795%.

805%.

Soln.
Ans: a

Cost of each component = 600/100 = Rs. 6. Profit per component = 54 - 6 = 48. Profit percentage = (48/6) × 100 = 800%.

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Question 2

A loss of 35% is made by selling an article at Rs. 195. What is the cost of the article?

300.

310.

320.

295.

Soln.
Ans: a

Build it like this: if the sale is 100 - 35 = 65, the cost is Rs. 100. So, when the sale is 195 the cost should be ${100/65} × 195$ = Rs. 300.

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Question 3

420 items are purchased at a cost of Rs. 2. How many items should be sold for Rs. 2 to make a profit of 5%?

400.

401.

399.

402.

Soln.
Ans: a

The sale price should be 2 × (1 + 5/100), which equals Rs. 210/100. So, Rs. 210/100 is the sale price of 420 items. And, 2 shall be the sale price of $(420 × 100/210)$ × 2 = 400 items.

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Question 4

What should be the marked price of an item if a profit of 70% is to be made after allowing a discount of 15%?

Rs. 200.

Rs. 210.

Rs. 190.

Rs. 220.

Soln.
Ans: a

If the cost is 100, the sale price would be 100 + 70 = Rs. 170. If M is the marked price, then sale price is (100 - 15)% of M = 170. Which gives 85M/100 = 170, which gives M = Rs. 200

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