Profit and loss quiz
Question 1
The cost of 8 ink pens and 12 ball pens is Rs.82. What would be the cost of 36 ink pens and 54 ball pens?
Rs.366
Rs.365
Rs.369
Rs.364
Ans. C
Rs. 369
From the given statement we have,
The cost of 4 ink pens + 6 ball pens = Rs. 41.
Multiplying each terms by 9, we get
The cost of 36 ink pens + 54 ball pens = Rs. 369.
Question 2
The cost price of 16 articles is the same as the selling price of 12 articles. Find the loss/profit percentages.
30%
32.50%
100/3%
40%
Ans. C
100/3%
The gain is 4 out of 12 articles.
Therefore, gain percentage = 4x100 /12 = 100/3%
Grade Stack short trick : ( x –y)x 100/ y
Where x = 16, y = 12
Question 3
An article is sold at 10% loss. If the selling price is Rs. 40 more, there will be a gain of 15%. The cost price of the article is:
Rs. 140
. Rs. 120
Rs. 175
Rs. 160
Ans. D
Rs. 160
Let the cost price be Rs. x.
Selling Price at 10% loss = 90x/100
Selling price at 15% gain = 115x/100
Thus, according to the problem,
115x/100 - 90x/100 = 40
x = Rs. 160
Grade Stack Short Cut Methods:
n x 100/ different between loss or profit
Where n = 40, different = 25
x = 40 x 100/25 = 160
Question 4
The marked price of a chair is Rs. 800. A retailer bought it after two successive discounts of 10% and 15%. He spent Rs. 13 on transportation and sold it for Rs. 875. His profit was:
40%
37%
28%
25%
Ans. A
40%
Marked price = Rs. 800.
Price after discount of 10% and 15% = 800 x (100 - 10)/100 x (100 - 15)/100 = Rs. 612.
Total Cost price = 612 + 13 = Rs. 625
Profit percent = (875 - 625)/625 x 100 = 40 %
Question 5
If a selling price of Rs. 24 results in 20% discount on the list price of an article, the selling price that would result in 30% discount on the list price is:
Rs. 17
Rs. 23
Rs. 18
Rs. 21
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Skipped !
It's 'Rs. 21'Ans. D
Rs. 21
Selling price = Rs. 24
Thus, list price = 100/(100 - 20) x 24 = Rs. 30
For 30% discount,
Selling price = (100 - 30)/100 = Rs. 21
Question 6
How much percent more than the cost price should a shopkeeper mark his goods so that after allowing a discount of 25% on the marked price, he gains 20%?
60%
55%
70%
50%
Ans. A
60%
Let cost price of goods be Rs 100.
Gain = 20%
Therefore, Selling price = Rs 120
Discount = 25%
Marked Price = (100/100 - 25)x120
= Rs. 160
i .e. 60% more
Question 7
A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. What is his profit percentage?
6%
5%
4%
7%
Ans. B
5%
CP of 1st variety rice = 20
CP of 2nd variety rice = 36
CP of the 56 kg rice mixture = (26×20 + 30×36) = 520 + 1080 = 1600
SP of the 1 kg rice mixture = 30
SP of the 56 kg rice mixture = 30×56 = 1680
Gain = SP - CP = 1680 - 1600 = 80
Gain% = Gain/CP×100 = 80/1600×100 = 100/20 = 5%
Question 8
Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?
3.5
4.5
5.6
6.5
Ans. C
5.6
Cost Price of 1 toy = Rs. 375/12 = Rs. 31.25
Selling Price of 1 toy = Rs. 33
So, Gain = Rs. (33 - 31.25) = Rs. 1.75
Profit % = (1.75 x 100)/31.25 % = 28/5 % = 5.6%
Question 9
A merchant sells his two cars – one at 15% loss and another at 12% profit. If the cost prices of the two cars are in the ratio of 1:2, what is his percent profit or loss?
3% profit
2% loss
2% profit
1.2%loss
Ans. A
3% profit
Given that CPs are in the ratio 1:2
Therefore let the CPs be Rs. 100 & Rs. 200 respectively,
1st SP = 100 - 15% of 100 = Rs. 86.
2nd SP = 200 + 12% of 200 = Rs. 224.
Total CP = Rs. 300. Total SP = 85 + 224 = Rs. 309.
Profit = Rs. 309 - 300 = Rs. 9.
Profit percent = 9x100/300 = 3% profit.
Question 10
The profit earned after selling an article for Rs.675 is twice the loss incurred after selling the article for Rs.435. What is the cost price of the article?
Rs.450
Rs.595
Rs.400
Rs.515
Ans. D
Rs. 515
Let ‘x’ be the CP of the article.
i.e. Rs. 675 - x = 2(x - 435)
675 - x = 2x - 870
675 + 870 = 3x, therefore, x = 1545/3 = Rs. 515.
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