Profit and Loss Quiz Set 014

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Question 1

A loss of 30% is made by selling an article at Rs. 210. What is the cost of the article?

 A

300.

 B

310.

 C

320.

 D

295.

Soln.
Ans: a

Build it like this: if the sale is 100 - 30 = 70, the cost is Rs. 100. So, when the sale is 210 the cost should be ${100/70} × 210$ = Rs. 300.


Question 2

A merchant is selling cloth at a profit of 248%. If the cost increases by 16%, but he continues to sell at the same price, then what is the new profit percentage?

 A

200%.

 B

300%.

 C

100%.

 D

400%.

Soln.
Ans: a

Let the cost price be CP. Then the SP = CP x (1 + $248/100$) = $348/100$ × CP. New CP = (1 + $16/100$) × CP, which is $116/100$ × CP. New Profit% = (SP/CP - 1) × 100, which is $(({348/100 × CP}/{116/100 × CP}) - 1) × 100)$, which becomes $(348 - 116)/116$ × 100 = 200%.


Question 3

When an item is sold for Rs. 44000, a loss of 56% is incurred. What should be the sale price to earn a profit of 164%?

 A

Rs. 264000.

 B

Rs. 264010.

 C

Rs. 264020.

 D

Rs. 263990.

Soln.
Ans: a

As a shortcut, we can set a proportionality ${X/{100 + 164}$ = ${44000/{100 - 56}.$ Solving, X = 264 × $44000/$44, which gives X = 264000.


Question 4

Goods are purchased at a cost price of Rs. 1400 and sold at a loss of 10%. What is the sale price?

 A

Rs. 1260.

 B

Rs. 1261.

 C

Rs. 1259.

 D

Rs. 1262.

Soln.
Ans: a

The loss in rupees is cost × 10%. Which is ${1400 × 10}/100$ = Rs. 140. So the sale price is cost - loss = 1400 - 140 = Rs. 1260.


Question 5

When 13 items are sold at an amount of Rs. 36, a loss equal to the cost of 7 items is incurred. What is the cost of one item?

 A

Rs. 6.

 B

Rs. 7.

 C

Rs. 8.

 D

Rs. 5.

Soln.
Ans: a

Let the cost per item be c. Then loss = 7c. So we can write 13c - 36 = 7c. Solving we get c = Rs. 6.


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This Blog Post/Article "Profit and Loss Quiz Set 014" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-10-26.

Posted by Parveen(Hoven),
Aptitude Trainer


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