Profit and Loss Quiz Set 013 | Maths Aptitude Mock Test on Profit and Loss Set 13 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

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Question 1

The cost price of 165 items is same as the sale price of N items. If the profit is 32%, then what is N?

125.

126.

124.

127.

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 165r. Profit percent is ${{165r - rN}/{rN}} × 100$ = 32. Cancelling r, and solving for N we get N = 125.

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Question 2

When an item is sold for Rs. 48000, a loss of 60% is incurred. What should be the sale price to earn a profit of 60%?

Rs. 192000.

Rs. 192010.

Rs. 192020.

Rs. 191990.

Soln.
Ans: a

As a shortcut, we can set a proportionality ${X/{100 + 60}$ = ${48000/{100 - 60}.$ Solving, X = 160 × $48000/$40, which gives X = 192000.

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Question 3

What should be the marked price of an item if a profit of 125% is to be made after allowing a discount of 25%?

Rs. 300.

Rs. 310.

Rs. 290.

Rs. 320.

Soln.
Ans: a

If the cost is 100, the sale price would be 100 + 125 = Rs. 225. If M is the marked price, then sale price is (100 - 25)% of M = 225. Which gives 75M/100 = 225, which gives M = Rs. 300

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Question 4

A retailer makes a gain of 25% when he sells the first item for Rs. 875. But he suffers a loss of 30% when he sells the second item for Rs. 140. What is his combined loss or gain?

$12{7/9}$.

$13{7/9}$.

$14{7/9}$.

$11{7/9}$.

Soln.
Ans: a

The cost of the first item is 875 × $100/{100 + 25}$ which is Rs. 700. The cost of the second item is 140 × $100/{100 - 30}$ which is Rs. 200. The combined cost is 700 + 200 = Rs. 900. The combined sale is 875 + 140 = Rs. 1015. The profit percent is 100 × ${1015 - 900}/900$, which is $12{7/9}$%.

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Question 5

A retailer buys an item of marked price Rs. 2400 at a discount of 10%. What will be his profit percentage(approx.) when he sells it at the marked price?

11% (approx.).

21% (approx.).

6% (approx.).

16% (approx.).

Soln.
Ans: a

The discount is 10 % of 2400 = ${10 × 2400}/100$ = Rs. 240. The cost to the retailer is $2400 - 240$ = Rs. 2160. The discount that he gets from the wholesaler becomes his profit = Rs. 240. So Profit% = ${240 × 100}/2160$ = 11%(approx.).

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