Profit and Loss Quiz Set 004

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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.


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This Blog Post/Article "Profit and Loss Quiz Set 004" 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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