Profit and Loss Quiz Set 015

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?

A

20%.

B

21%.

C

19%.

D

22%.

Soln.
Ans: a

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

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?

A

Rs. 16.

B

Rs. 17.

C

Rs. 15.

D

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.

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?

A

100.

B

101.

C

99.

D

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.

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?

A

Rs. 77.

B

Rs. 78.

C

Rs. 79.

D

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

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?

A

\$941{2/3}\$%.

B

\$1614{2/7}\$%.

C

\$664{12/17}\$%.

D

\$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}\$%. This Blog Post/Article "Profit and Loss Quiz Set 015" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2019-08-18.