Profit and Loss Quiz Set 019 | Maths Aptitude Mock Test on Profit and Loss Set 19 | mock tests for Bank PO, SSB/SSC Exams, SO Clerical Exam, GATE Exam, LIC AO, GIC AO, etc.

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Question 1

When 16 items are sold at an amount of Rs. 45, a loss equal to the cost of 7 items is incurred. What is the cost of one item?

Rs. 5.

Rs. 6.

Rs. 7.

Rs. 4.

Soln.
Ans: a

Let the cost per item be c. Then loss = 7c. So we can write 16c - 45 = 7c. Solving we get c = Rs. 5.

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Question 2

3774 items are purchased at a cost of Rs. 17. How many items should be sold for Rs. 17 to make a profit of 11%?

3400.

3401.

3399.

3402.

Soln.
Ans: a

The sale price should be 17 × (1 + 11/100), which equals Rs. 1887/100. So, Rs. 1887/100 is the sale price of 3774 items. And, 17 shall be the sale price of $(3774 × 100/1887)$ × 17 = 3400 items.

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Question 3

A merchant purchased 64 Kg of wheat at the rate of 4.00 Rs./Kg, and 36 Kg wheat at 15.00 Rs./Kg. At what rate must he sell the mixture to make an overall gain of 15%?

9.15.

10.15.

8.15.

11.15.

Soln.
Ans: a

The overall cost is $64 × 4 + 36 × 15$ = Rs. 796. Add a profit of 15% to get SP = $796 + (15 × 796)/100$ = Rs. 915.4. So the rate = $915.4/{64 + 36}$ = $915.4/100$ = 9.15.

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Question 4

A retailer buys an item of marked price Rs. 7100 at a discount of 5%. What will be his profit percentage(approx.) when he sells it at the marked price?

5% (approx.).

15% (approx.).

0% (approx.).

10% (approx.).

Soln.
Ans: a

The discount is 5 % of 7100 = ${5 × 7100}/100$ = Rs. 355. The cost to the retailer is $7100 - 355$ = Rs. 6745. The discount that he gets from the wholesaler becomes his profit = Rs. 355. So Profit% = ${355 × 100}/6745$ = 5%(approx.).

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