Profit and Loss Quiz Set 014

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Question 1

A merchant purchased 79 Kg of wheat at the rate of 5.00 Rs./Kg, and 21 Kg wheat at 18.00 Rs./Kg. At what rate must he sell the mixture to make an overall gain of 20%?

 A

9.28.

 B

10.28.

 C

8.28.

 D

11.28.

Soln.
Ans: a

The overall cost is $79 × 5 + 21 × 18$ = Rs. 773. Add a profit of 20% to get SP = $773 + (20 × 773)/100$ = Rs. 927.6. So the rate = $927.6/{79 + 21}$ = $927.6/100$ = 9.28.


Question 2

An article was purchased at ${9/10}$ of its marked price. Later it was sold at a 5% more than the marked price. What is the profit percentage?

 A

$16{2/3}$%.

 B

$17{1/7}$%.

 C

$16{8/37}$%.

 D

$15{15/19}$%.

Soln.
Ans: a

Let the marked price be 100. The item was purchased at Rs. (9/10) × 100 = 90. The profit 105 - 90 = Rs. 15. Percent profit = $15/90$ × 100 = $16{2/3}$%.


Question 3

When an item is sold for Rs. 44000, a loss of 64% is incurred. What should be the sale price to earn a profit of 8%?

 A

Rs. 132000.

 B

Rs. 132010.

 C

Rs. 132020.

 D

Rs. 131990.

Soln.
Ans: a

As a shortcut, we can set a proportionality ${X/{100 + 8}$ = ${44000/{100 - 64}.$ Solving, X = 108 × $44000/$36, which gives X = 132000.


Question 4

A loss of x% is incurred if an item is sold for Rs. 7200. But if the same item is sold for Rs. 10600 a profit of x% is earned. At what price should the item be sold so as to earn a profit of 31%?

 A

Rs. 11659.

 B

Rs. 11660.

 C

Rs. 11658.

 D

Rs. 11661.

Soln.
Ans: a

Let the cost of the item be C. Then, ${C - 7200}/C$ = ${10600 - C}/C$, which gives C = Rs. 8900. To sell it it a profit of 31%, ${S - 8900}/8900$ × 100 = 31, which gives S = Rs. 11659.


Question 5

The cost price of 80 items is same as the sale price of N items. If the profit is 220%, then what is N?

 A

25.

 B

26.

 C

24.

 D

27.

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 80r. Profit percent is ${{80r - rN}/{rN}} × 100$ = 220. Cancelling r, and solving for N we get N = 25.


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This Blog Post/Article "Profit and Loss Quiz Set 014" 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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