# Profit and Loss Quiz Set 014

### 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.