# Profit and Loss Quiz Set 018

### Question 1

Goods are purchased at a cost price of Rs. 1700 and sold at a loss of 25%. What is the sale price?

A

Rs. 1275.

B

Rs. 1276.

C

Rs. 1274.

D

Rs. 1277.

Soln.
Ans: a

The loss in rupees is cost × 25%. Which is \${1700 × 25}/100\$ = Rs. 425. So the sale price is cost - loss = 1700 - 425 = Rs. 1275.

### Question 2

1260 items are purchased at a cost of Rs. 6. How many items should be sold for Rs. 6 to make a profit of 5%?

A

1200.

B

1201.

C

1199.

D

1202.

Soln.
Ans: a

The sale price should be 6 × (1 + 5/100), which equals Rs. 630/100. So, Rs. 630/100 is the sale price of 1260 items. And, 6 shall be the sale price of \$(1260 × 100/630)\$ × 6 = 1200 items.

### Question 3

A merchant is selling cloth at a profit of 376%. If the cost increases by 19%, but he continues to sell at the same price, then what is the new profit percentage?

A

300%.

B

400%.

C

200%.

D

500%.

Soln.
Ans: a

Let the cost price be CP. Then the SP = CP x (1 + \$376/100\$) = \$476/100\$ × CP. New CP = (1 + \$19/100\$) × CP, which is \$119/100\$ × CP. New Profit% = (SP/CP - 1) × 100, which is \$(({476/100 × CP}/{119/100 × CP}) - 1) × 100)\$, which becomes \$(476 - 119)/119\$ × 100 = 300%

### Question 4

A profit of 50%, as calculated on the cost price, is made by selling an item for Rs. 36. What is the profit in rupees?

A

Rs. 12.

B

Rs. 13.

C

Rs. 11.

D

Rs. 14.

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 \${36 × 50}/{100 + 50}\$ = Rs. 12.

Shortcut Method: If sale is 150, profit is Rs. 50. So if sale is 36, profit = Rs. \$50/150\$ × 36 = Rs. 12.

### Question 5

A profit of 40% is made by selling an article at Rs. 140. What is the cost of the article?

A

100.

B

110.

C

120.

D

95.

Soln.
Ans: a

Build it like this: if the sale is 140, the cost is Rs. 100. So, when the sale is 140 the cost should be \${100/140} × 140\$ = Rs. 100. This Blog Post/Article "Profit and Loss Quiz Set 018" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2020-02-07. Published on: 2016-04-24