Profit and Loss Quiz Set 020

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Question 1

When 14 items are sold at an amount of Rs. 72, a loss equal to the cost of 6 items is incurred. What is the cost of one item?

 A

Rs. 9.

 B

Rs. 10.

 C

Rs. 11.

 D

Rs. 8.

Soln.
Ans: a

Let the cost per item be c. Then loss = 6c. So we can write 14c - 72 = 6c. Solving we get c = Rs. 9.


Question 2

The total cost of two cows is Rs. 1200. The owner sells the first cow at a profit of 45%, and the second one at a loss of 5%. If he sells them at the same price, what are the costs of the two cows?

 A

Rs. 475 and 725.

 B

Rs. 575 and 625.

 C

Rs. 425 and 775.

 D

Rs. 237 and 963.

Soln.
Ans: a

Let the costs of the cows be C and 1200 - C. The sale price is given as same. So (100 + 45) × C = (100 - 5) × (1200 - C). Simplifying, we get 145 × C = 95 × (1200 - C). Solving for C we get, C = Rs. 475. The cost of the other cow is 1200 - 475 = Rs. 725.


Question 3

What should be the marked price of an item if a profit of 140% is to be made after allowing a discount of 20%?

 A

Rs. 300.

 B

Rs. 310.

 C

Rs. 290.

 D

Rs. 320.

Soln.
Ans: a

If the cost is 100, the sale price would be 100 + 140 = Rs. 240. If M is the marked price, then sale price is (100 - 20)% of M = 240. Which gives 80M/100 = 240, which gives M = Rs. 300


Question 4

A profit of 50%, as calculated on the cost price, is made by selling an item for Rs. 18. What is the profit in rupees?

 A

Rs. 6.

 B

Rs. 7.

 C

Rs. 5.

 D

Rs. 8.

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 ${18 × 50}/{100 + 50}$ = Rs. 6.

Shortcut Method: If sale is 150, profit is Rs. 50. So if sale is 18, profit = Rs. $50/150$ × 18 = Rs. 6.


Question 5

The total cost of two cows is Rs. 470. The owner sells the first cow at a profit of 45%, and the second one at a loss of 10%. If he sells them at the same price, what are the costs of the two cows?

 A

Rs. 180 and 290.

 B

Rs. 280 and 190.

 C

Rs. 130 and 340.

 D

Rs. 90 and 380.

Soln.
Ans: a

Let the costs of the cows be C and 470 - C. The sale price is given as same. So (100 + 45) × C = (100 - 10) × (470 - C). Simplifying, we get 145 × C = 90 × (470 - C). Solving for C we get, C = Rs. 180. The cost of the other cow is 470 - 180 = Rs. 290.


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This Blog Post/Article "Profit and Loss Quiz Set 020" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-06-24.

Posted by Parveen(Hoven),
Aptitude Trainer


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