Practice Profit and loss - quantitative aptitude Online Quiz (set-2) For All Competitive Exams
Q-1) A retailer buys a radio for Rs.225. His overhead expenses are Rs.15. He sells the radio for Rs.300. The profit per cent of the retailer is :
(a)
(b)
(c)
(d)
Using Rule 1,
Actual C.P. = 225 + 15 = Rs.240
Gain = 300 - 240 = Rs.60
Gain per cent = $60/240 × 100 = 25%$
Q-2) While selling to the retailer, a company allows 30% discount on the marked price of their products. If the retailer sells those products at marked price, his profit % will be :
(a)
(b)
(c)
(d)
If the marked price of the product be Rs.100, then
C.P. = Rs.70; S.P. retailer = Rs.100
∴ Gain per cent
= $30/70 × 100 = 300/7= 42{6}/7$%
Q-3) Krishnan bought a camera and paid 20% less than its original price. He sold it at 40% profit on the price he had paid. The per centage of profit earned by Krishnan on the original price was
(a)
(b)
(c)
(d)
Let the original price be Rs.x.
= $80/100 × x = Rs.{4x}/5$
SP = ${4x}/5 × 140/100 = Rs.{28x}/25$
Gain on original price
=${28x}/25 - x ={3x}/25$
∴ Gain % = ${3x}/{25x}$ × 100 = 12%
Q-4) By selling a tape-recorder Rs. for 950, I lose 5%. What per cent shall I gain by selling it for Rs.1040?
(a)
(b)
(c)
(d)
Using Rule 1,
If S.P > C.P. then there will be profit
Profit = S.P. - C.P.
Profit% = ${\text"Profit" × 100}/{\text"C.P."}$
C.P. of the tape recorder
= $100/95 × 950$ = Rs.1000
Gain = 1040 - 1000 = Rs.40
% Gain = $40/1000 × 100 = 4%$
Q-5) A shopman bought pens at the rate of 7 for Rs.10 and sold them at a profit of 40%. How many pens would a customer get for Rs.10 ?
(a)
(b)
(c)
(d)
S.P. of 7 pens = ${10 × 140}/100$ = Rs.14
S.P. of 1 pen = $14/7$ = Rs.2
Clearly, 5 pens were sold for Rs.10
Using Rule 13,
Here, a = 7, x = 10, b = ?, y = 10, Gain% = 40%
Gain% = $({ay - bx}/{bx})$ × 100%
40 = $({7 × 10 - b × 10}/{b × 10}) × 100%$
4b = 70 - 10b
14b = 70 ⇒ b = $70/14$ ⇒ b = 5
Q-6) The cost price of 40 articles is the same as the selling price of 25 articles. Find the gain per cent.
(a)
(b)
(c)
(d)
Gain per cent
= ${40 - 25}/25 × 100 = 15/25 × 100 = 60%$
Using Rule 8,
Here, x = 40, y = 25
Gain % = $({x - y}/y) × 100$
= ${40 - 25}/25 × 100 = 15/25 × 100$ = 60%
Q-7) The cost price of 36 books is equal to the selling price of 30 books. The gain per cent is :
(a)
(b)
(c)
(d)
If cost price of 'x' articles is equal to selling price of 'y' articles,then Selling Price = x, Cost Price = yHence, Profit or Loss% = ${x - y}/y × 100$
Required profit = ${36 - 30}/30 × 100$ = 20%
Q-8) If the selling price of 10 articles is equal to the cost price of 11 articles, then the gain percent is
(a)
(b)
(c)
(d)
Let the C.P. of each article be Rs.1.
C.P. of 10 articles = Rs.10
and S.P. of 10 articles = Rs.11
Profit percent = ${11 - 10}/10 × 100$ = 10%
Using Rule 8,
Here, x = 11, y = 10
Profit % = $({x - y}/y) × 100$
= ${11 - 10}/10 × 100 = 100/10$ = 10%
Q-9) A person sells 400 mangoes at the cost price of 320 mangoes. His percentage of loss is
(a)
(b)
(c)
(d)
Using Rule 8,
Loss per cent = ${400 - 320}/400 × 100$
= $80/400 × 100 = 20%$
Q-10) If the cost price of 10 articles is equal to the selling price of 16 articles, then the loss per cent is
(a)
(b)
(c)
(d)
If the CP of A articles be equal to SP of B articles, then
Loss percent = ${B - A}/B × 100$
= ${16 - 10}/16 × 100 = 6/16 × 100$ = 37.5%
Using Rule 8,
Here, x = 10, y = 16
Loss % = $({y - x}/y) × 100$
= $({16 - 10}/16) × 100 = 600/16$ = 37.5%
Q-11) A sells a bicycle to B at a profit of 20%. B sells it to C at a profit of 25%. If C pays Rs.225/- for it, the cost price of the bicycle for A is :
(a)
(b)
(c)
(d)
Let the cost price of the bicycle for A be Rs.x
Cost price for B = selling price for A = 1.20x
Cost price for C = selling price for B = (1.25) (1.20x) = 1.5x
But 1.5x = 225 ⇒ x = $225/1.5$ = Rs.150
The cost price of the bicycle for A = Rs.150
Using Rule 15,If A sells an article to B at a profit (loss) of $r_1$% and B sells the same article to C at a profit (loss) of $r_2$% then the cost price of article for C will be given byC.P of article for C= C.P. of A × $({1 ± r_1}/100)({1 ± r_2}/100)$(Positive and negative sign conventions are used for profit and loss.)
Here, $r_1= 20%, r_2$ = 25%
C.P. for C = C.P. for A
$(1 + r_1/100)(1 + r_2/100)$
225 = C.P. for A
$(1 + 20/100)(1 + 25/100)$
C.P. for A = ${225 × 100 × 100}/{120 × 125}$ = Rs.150
Q-12) A sells a cycle to B at a profit of 10%, B sells to C at a profit of 20%. If C pays Rs.264 for it, how much did A pay for it?
(a)
(b)
(c)
(d)
Let the C.P. of A be Rs.x, then
$x × 110/100 × 120/100 = 264$
$x = {264 × 100 × 100}/{110 × 120}$ = Rs.200
Using Rule 15,
Here, $r_1 = 10%, r_2$ = 20%
C.P. for C = C.P. for A
$(1 + r_1/100)(1 + r_2/100)$
264 = C.P. for A
$(1 + 10/100)(1 + 20/100)$
C.P. for A = ${264 × 100 × 100}/{110 × 120}$ = Rs.200
Q-13) A book vendor sold a book at a loss of 20%. Had he sold it for Rs.108 more, he would have earned a profit of 30%. Find the cost price of the book ?
(a)
(b)
(c)
(d)
If the cost price of the book be Rs.x, then
${x × 80}/100 + 108 = {x × 130}/100$
${5x}/10 = 108 ⇒ x = Rs.216$
Using Rule 11
Here, x = 20%, R= Rs.108, y=30%
C.P. = ${R × 100}/{y + x}$
= ${108 × 100}/{30 + 20}$
= $10800/50$ = Rs.216
Q-14) When an article is sold at a gain of 20%, it yields Rs.60 more than when it is sold at a loss of 20%. The cost price of the article is
(a)
(b)
(c)
(d)
Let the CP of the article be Rs.x.
${120x}/100 - {80x}/100 = 60$
40x = 60 × 100
$x = {60 × 100}/40$ = Rs.150
Using Rule 11,
Here, x = 20%, R= Rs.60, y= 20%
C.P. = ${R × 100}/{y + x}$
= ${60 × 100}/{20 + 20}$
= $6000/40$ = Rs.150
Q-15) Sandeep sells an article at a loss of 10%. Had he bought it at 20% less and sold it for Rs.55 more, he could have gained 40%. What is the cost price of the article ?
(a)
(b)
(c)
(d)
C.P. of article = Rs. x
First S.P. = Rs.${9x}/10$
Case II,
C.P. = ${80x}/100$ = Rs.${4x}/5$
According to the question,
${4x}/5 × 140/100 - {9x}/10$ = 55
${56x}/50 - {9x}/10$ = 55
${56x - 45x}/50$ = 55
11x = 50 × 55
$x = {50 × 55}/11$ = Rs.250
Q-16) A cloth merchant sold half of his cloth at 40% profit, half of remaining at 40% loss and the rest was sold at the cost price. In the total transaction his gain or loss will be
(a)
(b)
(c)
(d)
Let the merchant bought 100 metres of cloth for Rs.100.
Total S.P. = Rs.$({50 × 140}/100 + {25 × 60}/100 + 25)$
=Rs.(70 + 15 + 25) = Rs.110
Gain per cent = 10%
Q-17) A man bought a horse anda carriage for Rs.40,000. He sold the horse at a gain of 10 % and the carriage at a loss of 5%. He gained 1% on his whole transaction. The cost price of the horse was :
(a)
(b)
(c)
(d)
If the C.P. of horse be Rs.x, then
C.P. of carriage = Rs.(40000 - x) Then,
${110 × x}/100 + {(40000 - x) × 95}/100 = {40000 × 101}/100$
110x + 3800000 - 95x = 4040000
15x = 4040000 - 3800000
15x = 240000 ⇒ x = $240000/15$ = Rs.16000
Q-18) A person bought two articles A and B for Rs.5,000. He sold A at 20% profit and B at 10% loss. He thus gained 2% on his outlay. The cost price of A was
(a)
(b)
(c)
(d)
Let the CP of article A be Rs.x
CP of article B = Rs.(5000 - x)
According to the question,
120% of x + 90% of (5000 - x) = 102% of 5000
120x + 450000 - 90x = 510000
30x = 510000 - 450000 = 60000
x = $60000/30$ = Rs.2000
Q-19) If a man were to sell his chair for Rs.720, he would lose 25%. To gain 25% he should sell it for
(a)
(b)
(c)
(d)
CP of chair = $100/75 × 720$ = Rs.960
To gain 25%, SP = $125/100 × 960$ = Rs.1200
Using Rule 3,
C.P. = S.P.$(100/{100 - Loss%})$
= ${720 × 100}/{100 × 25}$
= $72000/75$ = Rs. 960
New S.P.= C.P.$({100 + Profit%}/100)$
= ${960 × 125}/100$ = Rs.1200
Q-20) A manufacturer fixes his selling price at 33% over the cost of production. If cost of production goes up by 12% and manufacturer raises his selling price by 10%, his percentage profit is
(a)
(b)
(c)
(d)
Cost of production of article = Rs.100 (let)
S.P. = Rs.133
New cost of production = Rs.112
S.P. = ${133 × 110}/100$ = Rs.146.30
Profit per cent = $({146.3 – 112}/112) × 100$
= ${34.3 × 100}/112 = 3430/112$
= $245/8 = 30{5}/8%$