Profit and Loss Quiz Set 015 | Maths Aptitude Mock Test on Profit and Loss Set 15 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

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Question 1

Mr. X purchased a machine at a cost of Rs. 6900. After spending Rs. 700 on its repairs, he sells it at a price of Rs 9120. What is the profit percentage?

20%.

21%.

19%.

22%.

Soln.
Ans: a

The profit is sale price - total cost = $9120 - (6900 + 700)$ = 1520. Percent profit is ${1520/7600} × 100$, which gives 20%.

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Question 2

A profit of 20%, as calculated on the cost price, is made by selling an item for Rs. 96. What is the profit in rupees?

Rs. 16.

Rs. 17.

Rs. 15.

Rs. 18.

Soln.
Ans: a

If cost is C, profit is P% and sale is S, then we know that C = $S/(1 + P/100)$. So the profit in rupees would be S - C = S - $S/(1 + P/100)$, which simplifies to ${S × P}/{100 + P}$, which is ${96 × 20}/{100 + 20}$ = Rs. 16.

Shortcut Method: If sale is 120, profit is Rs. 20. So if sale is 96, profit = Rs. $20/120$ × 96 = Rs. 16.

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Question 3

The cost price of 180 items is same as the sale price of N items. If the profit is 80%, then what is N?

100.

101.

99.

102.

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 180r. Profit percent is ${{180r - rN}/{rN}} × 100$ = 80. Cancelling r, and solving for N we get N = 100.

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Question 4

Articles are purhcased at the rate of 9 articles for Rs. 2. They are sold at 2 articles for Rs. 9. The profit earned in rupees by selling 18 articles would be?

Rs. 77.

Rs. 78.

Rs. 79.

Rs. 76.

Soln.
Ans: a

Let 18 articles be purchased and then sold back. Cost of 18 articles = $2/9$ × 18 = Rs. 4. Sale of 18 articles = $9/2$ × 18 = Rs. 81. The profit is 81 - 4 = Rs. 77

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Question 5

An article was purchased at ${3/25}$ of its marked price. Later it was sold at a 25% more than the marked price. What is the profit percentage?

$941{2/3}$%.

$1614{2/7}$%.

$664{12/17}$%.

$513{7/11}$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (3/25) × 100 = 12. The profit 125 - 12 = Rs. 113. Percent profit = $113/12$ × 100 = $941{2/3}$%.

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