Profit and Loss Quiz Set 009

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Question 1

When 14 items are sold at an amount of Rs. 72, a loss equal to the cost of 6 items is incurred. What is the cost of one item?

 A

Rs. 9.

 B

Rs. 10.

 C

Rs. 11.

 D

Rs. 8.

Soln.
Ans: a

Let the cost per item be c. Then loss = 6c. So we can write 14c - 72 = 6c. Solving we get c = Rs. 9.


Question 2

A retailer buys an item of marked price Rs. 2400 at a discount of 10%. What will be his profit percentage(approx.) when he sells it at the marked price?

 A

11% (approx.).

 B

21% (approx.).

 C

6% (approx.).

 D

16% (approx.).

Soln.
Ans: a

The discount is 10 % of 2400 = ${10 × 2400}/100$ = Rs. 240. The cost to the retailer is $2400 - 240$ = Rs. 2160. The discount that he gets from the wholesaler becomes his profit = Rs. 240. So Profit% = ${240 × 100}/2160$ = 11%(approx.).


Question 3

Goods are purchased at a cost price of Rs. 500 and sold at a loss of 5%. What is the sale price?

 A

Rs. 475.

 B

Rs. 476.

 C

Rs. 474.

 D

Rs. 477.

Soln.
Ans: a

The loss in rupees is cost × 5%. Which is ${500 × 5}/100$ = Rs. 25. So the sale price is cost - loss = 500 - 25 = Rs. 475.


Question 4

The cost price of 165 items is same as the sale price of N items. If the profit is 32%, then what is N?

 A

125.

 B

126.

 C

124.

 D

127.

Soln.
Ans: a

Let the cost per unit be r. CP of N items is rN, and SP of N items is already given to us as 165r. Profit percent is ${{165r - rN}/{rN}} × 100$ = 32. Cancelling r, and solving for N we get N = 125.


Question 5

The total cost of two cows is Rs. 1200. The owner sells the first cow at a profit of 45%, and the second one at a loss of 5%. If he sells them at the same price, what are the costs of the two cows?

 A

Rs. 475 and 725.

 B

Rs. 575 and 625.

 C

Rs. 425 and 775.

 D

Rs. 237 and 963.

Soln.
Ans: a

Let the costs of the cows be C and 1200 - C. The sale price is given as same. So (100 + 45) × C = (100 - 5) × (1200 - C). Simplifying, we get 145 × C = 95 × (1200 - C). Solving for C we get, C = Rs. 475. The cost of the other cow is 1200 - 475 = Rs. 725.


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This Blog Post/Article "Profit and Loss Quiz Set 009" 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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