Profit and Loss Quiz Set 020

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Question 1

Articles are purhcased at the rate of 7 articles for Rs. 3. They are sold at 3 articles for Rs. 7. The profit earned in rupees by selling 21 articles would be?

 A

Rs. 40.

 B

Rs. 41.

 C

Rs. 42.

 D

Rs. 39.

Soln.
Ans: a

Let 21 articles be purchased and then sold back. Cost of 21 articles = $3/7$ × 21 = Rs. 9. Sale of 21 articles = $7/3$ × 21 = Rs. 49. The profit is 49 - 9 = Rs. 40


Question 2

A retailer buys an item of marked price Rs. 8600 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 8600 = ${15 × 8600}/100$ = Rs. 1290. The cost to the retailer is $8600 - 1290$ = Rs. 7310. The discount that he gets from the wholesaler becomes his profit = Rs. 1290. So Profit% = ${1290 × 100}/7310$ = 17%(approx.).


Question 3

A retailer makes a gain of 30% when he sells the first item for Rs. 650. But he suffers a loss of 15% when he sells the second item for Rs. 510. What is his combined loss or gain?

 A

$5{5/11}$.

 B

$6{5/11}$.

 C

$7{5/11}$.

 D

$4{5/11}$.

Soln.
Ans: a

The cost of the first item is 650 × $100/{100 + 30}$ which is Rs. 500. The cost of the second item is 510 × $100/{100 - 15}$ which is Rs. 600. The combined cost is 500 + 600 = Rs. 1100. The combined sale is 650 + 510 = Rs. 1160. The profit percent is 100 × ${1160 - 1100}/1100$, which is $5{5/11}$%.


Question 4

A retailer buys an item of marked price Rs. 7000 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 7000 = ${15 × 7000}/100$ = Rs. 1050. The cost to the retailer is $7000 - 1050$ = Rs. 5950. The discount that he gets from the wholesaler becomes his profit = Rs. 1050. So Profit% = ${1050 × 100}/5950$ = 17%(approx.).


Question 5

A profit of 50%, as calculated on the cost price, is made by selling an item for Rs. 39. What is the profit in rupees?

 A

Rs. 13.

 B

Rs. 14.

 C

Rs. 12.

 D

Rs. 15.

Soln.
Ans: a

If cost is C, profit is P% and sale is S, then we know that C = $S/(1 + P/100)$. So the profit in rupees would be S - C = S - $S/(1 + P/100)$, which simplifies to ${S × P}/{100 + P}$, which is ${39 × 50}/{100 + 50}$ = Rs. 13.

Shortcut Method: If sale is 150, profit is Rs. 50. So if sale is 39, profit = Rs. $50/150$ × 39 = Rs. 13.


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This Blog Post/Article "Profit and Loss Quiz Set 020" 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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