# Profit and Loss Quiz Set 020

### 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. 