# Profit and Loss Quiz Set 005

### Question 1

When an item is sold for Rs. 7000, a loss of 64% is incurred. What should be the sale price to earn a profit of 116%?

A

Rs. 42000.

B

Rs. 42010.

C

Rs. 42020.

D

Rs. 41990.

Soln.
Ans: a

As a shortcut, we can set a proportionality \${X/{100 + 116}\$ = \${7000/{100 - 64}.\$ Solving, X = 216 × \$7000/\$36, which gives X = 42000.

### Question 2

A profit of 40% is made by selling an article at Rs. 140. What is the cost of the article?

A

100.

B

110.

C

120.

D

95.

Soln.
Ans: a

Build it like this: if the sale is 140, the cost is Rs. 100. So, when the sale is 140 the cost should be \${100/140} × 140\$ = Rs. 100.

### Question 3

The total cost of two cows is Rs. 230. The owner sells the first cow at a profit of 50%, and the second one at a loss of 20%. If he sells them at the same price, what are the costs of the two cows?

A

Rs. 80 and 150.

B

Rs. 180 and 50.

C

Rs. 30 and 200.

D

Rs. 40 and 190.

Soln.
Ans: a

Let the costs of the cows be C and 230 - C. The sale price is given as same. So (100 + 50) × C = (100 - 20) × (230 - C). Simplifying, we get 150 × C = 80 × (230 - C). Solving for C we get, C = Rs. 80. The cost of the other cow is 230 - 80 = Rs. 150.

### Question 4

A merchant purchased 37 Kg of wheat at the rate of 6.00 Rs./Kg, and 63 Kg wheat at 8.00 Rs./Kg. At what rate must he sell the mixture to make an overall gain of 5%?

A

7.62.

B

8.62.

C

6.62.

D

9.62.

Soln.
Ans: a

The overall cost is \$37 × 6 + 63 × 8\$ = Rs. 726. Add a profit of 5% to get SP = \$726 + (5 × 726)/100\$ = Rs. 762.3. So the rate = \$762.3/{37 + 63}\$ = \$762.3/100\$ = 7.62.

### Question 5

A retailer buys an item of marked price Rs. 2200 at a discount of 15%. What will be his profit percentage(approx.) when he sells it at the marked price?

A

17% (approx.).

B

27% (approx.).

C

12% (approx.).

D

22% (approx.).

Soln.
Ans: a

The discount is 15 % of 2200 = \${15 × 2200}/100\$ = Rs. 330. The cost to the retailer is \$2200 - 330\$ = Rs. 1870. The discount that he gets from the wholesaler becomes his profit = Rs. 330. So Profit% = \${330 × 100}/1870\$ = 17%(approx.).