Profit and Loss Quiz Set 017

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Question 1

A loss of x% is incurred if an item is sold for Rs. 7200. But if the same item is sold for Rs. 10600 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 31%?

 A

Rs. 11659.

 B

Rs. 11660.

 C

Rs. 11658.

 D

Rs. 11661.

Soln.
Ans: a

Let the cost of the item be C. Then, ${C - 7200}/C$ = ${10600 - C}/C$, which gives C = Rs. 8900. To sell it it a profit of 31%, ${S - 8900}/8900$ × 100 = 31, which gives S = Rs. 11659.


Question 2

When 12 items are sold at an amount of Rs. 30, a loss equal to the cost of 6 items is incurred. What is the cost of one item?

 A

Rs. 5.

 B

Rs. 6.

 C

Rs. 7.

 D

Rs. 4.

Soln.
Ans: a

Let the cost per item be c. Then loss = 6c. So we can write 12c - 30 = 6c. Solving we get c = Rs. 5.


Question 3

A retailer makes a gain of 30% when he sells the first item for Rs. 780. But he suffers a loss of 25% when he sells the second item for Rs. 375. What is his combined loss or gain?

 A

5.

 B

6.

 C

7.

 D

4.

Soln.
Ans: a

The cost of the first item is 780 × $100/{100 + 30}$ which is Rs. 600. The cost of the second item is 375 × $100/{100 - 25}$ which is Rs. 500. The combined cost is 600 + 500 = Rs. 1100. The combined sale is 780 + 375 = Rs. 1155. The profit percent is 100 × ${1155 - 1100}/1100$, which is 5%.


Question 4

A packet of 100 electronics components is purchased at a cost of Rs. 400. Each component is sold at Rs. 20. What is the profit in percent terms?

 A

400%.

 B

410%.

 C

395%.

 D

405%.

Soln.
Ans: a

Cost of each component = 400/100 = Rs. 4. Profit per component = 20 - 4 = 16. Profit percentage = (16/4) × 100 = 400%.


Question 5

A profit of 25% is made by selling an article at Rs. 375. 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 125, the cost is Rs. 100. So, when the sale is 375 the cost should be ${100/125} × 375$ = Rs. 300.


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This Blog Post/Article "Profit and Loss Quiz Set 017" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2019-08-18.

Posted by Parveen(Hoven),
Aptitude Trainer


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