# Profit and Loss Quiz Set 017

### 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.