# Profit and Loss Quiz Set 002

### Question 1

When 13 items are sold at an amount of Rs. 36, a loss equal to the cost of 7 items is incurred. What is the cost of one item?

A

Rs. 6.

B

Rs. 7.

C

Rs. 8.

D

Rs. 5.

Soln.
Ans: a

Let the cost per item be c. Then loss = 7c. So we can write 13c - 36 = 7c. Solving we get c = Rs. 6.

### Question 2

A retailer makes a gain of 20% when he sells the first item for Rs. 480. But he suffers a loss of 5% when he sells the second item for Rs. 570. What is his combined loss or gain?

A

5.

B

6.

C

7.

D

4.

Soln.
Ans: a

The cost of the first item is 480 × \$100/{100 + 20}\$ which is Rs. 400. The cost of the second item is 570 × \$100/{100 - 5}\$ which is Rs. 600. The combined cost is 400 + 600 = Rs. 1000. The combined sale is 480 + 570 = Rs. 1050. The profit percent is 100 × \${1050 - 1000}/1000\$, which is 5%.

### Question 3

A loss of 5% is made by selling an article at Rs. 475. What is the cost of the article?

A

500.

B

510.

C

520.

D

495.

Soln.
Ans: a

Build it like this: if the sale is 100 - 5 = 95, the cost is Rs. 100. So, when the sale is 475 the cost should be \${100/95} × 475\$ = Rs. 500.

### Question 4

An article was purchased at \${3/25}\$ of its marked price. Later it was sold at a 25% more than the marked price. What is the profit percentage?

A

\$941{2/3}\$%.

B

\$1614{2/7}\$%.

C

\$664{12/17}\$%.

D

\$513{7/11}\$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (3/25) × 100 = 12. The profit 125 - 12 = Rs. 113. Percent profit = \$113/12\$ × 100 = \$941{2/3}\$%.

### Question 5

Articles are purhcased at the rate of 5 articles for Rs. 3. They are sold at 3 articles for Rs. 5. The profit earned in rupees by selling 15 articles would be?

A

Rs. 16.

B

Rs. 17.

C

Rs. 18.

D

Rs. 15.

Soln.
Ans: a

Let 15 articles be purchased and then sold back. Cost of 15 articles = \$3/5\$ × 15 = Rs. 9. Sale of 15 articles = \$5/3\$ × 15 = Rs. 25. The profit is 25 - 9 = Rs. 16