# Profit and Loss Quiz Set 004

### Question 1

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%?

A

3400.

B

3401.

C

3399.

D

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.

### Question 2

A loss of x% is incurred if an item is sold for Rs. 4000. But if the same item is sold for Rs. 17400 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 25%?

A

Rs. 13375.

B

Rs. 13376.

C

Rs. 13374.

D

Rs. 13377.

Soln.
Ans: a

Let the cost of the item be C. Then, \${C - 4000}/C\$ = \${17400 - C}/C\$, which gives C = Rs. 10700. To sell it it a profit of 25%, \${S - 10700}/10700\$ × 100 = 25, which gives S = Rs. 13375.

### Question 3

Mr. X purchased a machine at a cost of Rs. 6900. After spending Rs. 700 on its repairs, he sells it at a price of Rs 9120. What is the profit percentage?

A

20%.

B

21%.

C

19%.

D

22%.

Soln.
Ans: a

The profit is sale price - total cost = \$9120 - (6900 + 700)\$ = 1520. Percent profit is \${1520/7600} × 100\$, which gives 20%.

### Question 4

An article was purchased at \${3/50}\$ of its marked price. Later it was sold at a 25% more than the marked price. What is the profit percentage?

A

\$1983{1/3}\$%.

B

3400%.

C

1400%.

D

\$1081{9/11}\$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (3/50) × 100 = 6. The profit 125 - 6 = Rs. 119. Percent profit = \$119/6\$ × 100 = \$1983{1/3}\$%.

### Question 5

An item has a printed price of Rs. 5760 which includes the shopkeeper's profit of 20%. What is the cost price of the shopkeeper?

A

Rs. 4800.

B

Rs. 4810.

C

Rs. 4795.

D

Rs. 4805.

Soln.
Ans: a

If the sale price is (100 + 20), i.e. Rs. 120, then cost is Rs. 100. So if the sale is Rs. 5760, the cost = \$100/120\$ × 5760 = Rs. 4800.