Profit and Loss Quiz Set 001

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Question 1

A merchant purchased 28 Kg of wheat at the rate of 3.00 Rs./Kg, and 72 Kg wheat at 2.00 Rs./Kg. At what rate must he sell the mixture to make an overall gain of 5%?

 A

2.39.

 B

3.39.

 C

1.39.

 D

4.39.

Soln.
Ans: a

The overall cost is $28 × 3 + 72 × 2$ = Rs. 228. Add a profit of 5% to get SP = $228 + (5 × 228)/100$ = Rs. 239.4. So the rate = $239.4/{28 + 72}$ = $239.4/100$ = 2.39.


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

1776 items are purchased at a cost of Rs. 8. How many items should be sold for Rs. 8 to make a profit of 11%?

 A

1600.

 B

1601.

 C

1599.

 D

1602.

Soln.
Ans: a

The sale price should be 8 × (1 + 11/100), which equals Rs. 888/100. So, Rs. 888/100 is the sale price of 1776 items. And, 8 shall be the sale price of $(1776 × 100/888)$ × 8 = 1600 items.


Question 4

A merchant is selling cloth at a profit of 328%. If the cost increases by 7%, 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 + $328/100$) = $428/100$ × CP. New CP = (1 + $7/100$) × CP, which is $107/100$ × CP. New Profit% = (SP/CP - 1) × 100, which is $(({428/100 × CP}/{107/100 × CP}) - 1) × 100)$, which becomes $(428 - 107)/107$ × 100 = 300%.


Question 5

A packet of 100 electronics components is purchased at a cost of Rs. 600. Each component is sold at Rs. 54. What is the profit in percent terms?

 A

800%.

 B

810%.

 C

795%.

 D

805%.

Soln.
Ans: a

Cost of each component = 600/100 = Rs. 6. Profit per component = 54 - 6 = 48. Profit percentage = (48/6) × 100 = 800%.


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This Blog Post/Article "Profit and Loss Quiz Set 001" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Updated on 2017-05-17.

Posted by Parveen(Hoven),
Aptitude Trainer


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