Online exam in Profit and Loss For Quantitative Aptitude for Competitive exams like IBPS BANK PO/Clerical,SBI,RRB,SSC,LIC,UPSC-CSAT,SCRA.MAT,CMAT,MBA,SNAP,CAT,NTSE,CLAT
Profit and Loss-Test 1
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Subject :- Quantitative Aptitude
Chapter :- Profit and Loss – Test 1
Questions :- 25
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A dealer offers a cash discount of 20% and still makes a profit of 20%, when he further
allows 16 articles to a dozen to a particularly sticky bargainer. How much
per cent above the cost price were his wares listed ?
Correct
MP=120/(80/100)=150
Now he is selling 16 goods to a dozen(ie
12),
so his loss = {(16-12)/16} x100 = 25%.
Then the actual MP 150/(75/100)=200
Hence, he has marked the MP 100% above
the CP.
Incorrect
MP=120/(80/100)=150
Now he is selling 16 goods to a dozen(ie
12),
so his loss = {(16-12)/16} x100 = 25%.
Then the actual MP 150/(75/100)=200
Hence, he has marked the MP 100% above
the CP.
Question 2 of 25
2. Question
1 points
Profit earned by an organisation is distributed among officers and clerks in the
ratio of 5 : 3. If the number of officers is 55 and the number of clerks is 70 and the
amount received by each officer is Rs12,000, what was the total amount of
profit earned?
Correct
The total amount distributed among 55
officers = Rs.55×12000 = Rs.6,60,000.
Their ratio 5:3
Then 5 660000
3 ? 396000
Total profit = 6,60,000 + 396000
=Rs10,56,000.
Incorrect
The total amount distributed among 55
officers = Rs.55×12000 = Rs.6,60,000.
Their ratio 5:3
Then 5 660000
3 ? 396000
Total profit = 6,60,000 + 396000
=Rs10,56,000.
Question 3 of 25
3. Question
1 points
The percentage profit earned by selling an article for Rs. 2120 is equal to the percentage loss incurred by selling the same article for Rs. 1520. At what price should the article be sold to make 25% profit?
Correct
The CP be
2120+1520=3640
3640/2=1820.
SP=1820*125/100=1820*5/4
=Rs2275
Incorrect
The CP be
2120+1520=3640
3640/2=1820.
SP=1820*125/100=1820*5/4
=Rs2275
Question 4 of 25
4. Question
1 points
A purchased a machine at Rs 13,000 , then got it repaired at Rs 3500, they gave its
transportation charges Rs500. Then he sold it at 50% profit. At what price he actually
sold it?
Correct
The CP is 13000+3500+500=17000
Then SP
100 17000
150 ? ==> 25500
Incorrect
The CP is 13000+3500+500=17000
Then SP
100 17000
150 ? ==> 25500
Question 5 of 25
5. Question
1 points
In a certain store, the profit is 270% of the cost. If the cost increases by 30% but the
selling price remains constant, approximately what %ge of the selling price is the profit.
A Shopkeeper buys two bicycles for Rs. 750. He sells first bicycle at a profit of 22%
and the second bicycle at a loss of 8%. What is the SP of first bicycle if in the whole transaction there is no profit no loss?
Correct
CP of 1st bicycle =x
Then CP of 2nd bicycle is 750-x.
Their SP be 122/100*x and 92/100*(750-x)
Given that there is no profit no loss.
122/100*x + 92/100*(750-x) =750
122x +750*92 -92x=750*100
122x – 92x=750*100 – 750*92
30x = 750 * (100-92)
X=200.
SP of 1st bicycle =122/100 *200=Rs244.
Incorrect
CP of 1st bicycle =x
Then CP of 2nd bicycle is 750-x.
Their SP be 122/100*x and 92/100*(750-x)
Given that there is no profit no loss.
122/100*x + 92/100*(750-x) =750
122x +750*92 -92x=750*100
122x – 92x=750*100 – 750*92
30x = 750 * (100-92)
X=200.
SP of 1st bicycle =122/100 *200=Rs244.
Question 7 of 25
7. Question
1 points
The cost price of item B is Rs. 200/- more than the cost price of item A. Item A was
sold at a profit of 20% and item B was sold at a loss of 30%. If the respective ratio of
selling prices of items A and B is 6 : 7, what is the cost price of item B?
Correct
Let the CP of item A be x
CP of item B is x+200.
(120/100*x)/(x+200)*70/100 =6/7
120x/(x+200)*70=6/7
20x/10(x+200)=1
X=Rs200.
CP of item B is 200+200 =Rs400.
Incorrect
Let the CP of item A be x
CP of item B is x+200.
(120/100*x)/(x+200)*70/100 =6/7
120x/(x+200)*70=6/7
20x/10(x+200)=1
X=Rs200.
CP of item B is 200+200 =Rs400.
Question 8 of 25
8. Question
1 points
Two Mangoes, three grapes and four apples cost Rs. 15. Three Mangoes, two grapes and one apple cost Rs. 10. I bought 3 Mangoes, 3 grapes and 3 apples. How much did I pay?
Correct
Mango=X;. Grape = Y; Apple =Z ;
2X+3Y+4Z= 15— 1
3X+2Y+Z= 10— 2
Adding (1) and (2) 5X+5Y+5Z= 25
Clearly, X+ Y+Z = 5.
So cost of 3 Mangoes, 3 grapes and 3
apples will be 3X+3Y+3Z i.e, 15
Incorrect
Mango=X;. Grape = Y; Apple =Z ;
2X+3Y+4Z= 15— 1
3X+2Y+Z= 10— 2
Adding (1) and (2) 5X+5Y+5Z= 25
Clearly, X+ Y+Z = 5.
So cost of 3 Mangoes, 3 grapes and 3
apples will be 3X+3Y+3Z i.e, 15
Question 9 of 25
9. Question
1 points
A watch dealer incurs an expense of Rs. 150 for producing every watch. He also incurs an additional expenditure of Rs. 30,000, which is independent of the number of watches produced. If he is able to sell a watch during the season, he sells it for Rs. 250. If he fails to do so, he has to sell each watch for Rs. 100.If he produces
1500 watches, what is the number of watches that he must sell during the season in order to breakeven, given that he is able to sell all the watches produced?
Correct
Total cost to produced 1500 watches =
(1500 × 150 + 30000) = Rs. 2,55,000
Let he sells x watches during the season,
therefore
number of watches sold after the season =
(1500 – x)
250 × x + (1500 – x) × 100 = 150x +
150000
Now, break-even is achieved if production
cost is equal to the selling price.
150x + 150000 = 2,55,000
x = 700
Incorrect
Total cost to produced 1500 watches =
(1500 × 150 + 30000) = Rs. 2,55,000
Let he sells x watches during the season,
therefore
number of watches sold after the season =
(1500 – x)
250 × x + (1500 – x) × 100 = 150x +
150000
Now, break-even is achieved if production
cost is equal to the selling price.
150x + 150000 = 2,55,000
x = 700
Question 10 of 25
10. Question
1 points
A person X sold an Item to Y at 40% loss, then Y sold it to third person Z at 40%
profit and finally Z sold it back to X at 40% profit. In this whole process what is the
percentage loss or profit of X?
Correct
Let the CP = Rs.100. for X.
Y’s CP = Rs.60.
Z’s CP = Rs.84.
Finally, X’s CP = Rs.117.6.
:. X’s loss = 117.6 – 60 = Rs.57.6
:. X’s loss percent = 57.6%
Incorrect
Let the CP = Rs.100. for X.
Y’s CP = Rs.60.
Z’s CP = Rs.84.
Finally, X’s CP = Rs.117.6.
:. X’s loss = 117.6 – 60 = Rs.57.6
:. X’s loss percent = 57.6%
Question 11 of 25
11. Question
1 points
If Joel sells an article at 4/5th of its selling price and secures a profit of 20%, what will
be the profit or loss percentage if he sells it at the actual selling price?
Correct
Let CP is Rs100
Profit 20% Means ==> 120.
120=4/5SP==>SP =150.
Then profit %ge is 50%
Incorrect
Let CP is Rs100
Profit 20% Means ==> 120.
120=4/5SP==>SP =150.
Then profit %ge is 50%
Question 12 of 25
12. Question
1 points
A product costs a company Rs 60 to manufacture, and it sold the product to a
dealer for Rs 70, who in turn sold it to a shopkeeper for Rs 85, who sold to a
customer for Rs 102. What is the percentage of profit for the company and
who made the highest profit on selling the product?
Correct
Company Profit %ge is (70-
60)10/60*100=100/6=16 2/3.
Then Dealers Profit %ge is (85-
70)15/70*100=150/7=21 3/7.
Then Shopkeeper Profit %ge is (102-
85)17/85*100=20
Among the three Dealer get the highest
profit %ge.
Incorrect
Company Profit %ge is (70-
60)10/60*100=100/6=16 2/3.
Then Dealers Profit %ge is (85-
70)15/70*100=150/7=21 3/7.
Then Shopkeeper Profit %ge is (102-
85)17/85*100=20
Among the three Dealer get the highest
profit %ge.
Question 13 of 25
13. Question
1 points
Navya buys a certain number of toys at 12 per Rs 9 and the same number at 18 per Rs
9. If she sells them at 18 per Rs15 does she gain or lose and by what percentage?
Correct
She bought 12 toys at Rs 9.And 18 toys at Rs 9
Then 12toys = 18 9
12 ?==6
Total 24toys =(9+6)15.
She sells 18 toys at Rs 15.
Now 18 15
(12+12) 24 ? ==>20
Profit %ge is 15/20*100=300/4=33 1/3%.
Incorrect
She bought 12 toys at Rs 9.And 18 toys at Rs 9
Then 12toys = 18 9
12 ?==6
Total 24toys =(9+6)15.
She sells 18 toys at Rs 15.
Now 18 15
(12+12) 24 ? ==>20
Profit %ge is 15/20*100=300/4=33 1/3%.
Question 14 of 25
14. Question
1 points
A shopkeeper sells Marker at the rate of Rs.35 each and earns a commission of
10%. He also sells Gel pen at the rate of Rs. 65 each and earns a commission of
20%. How much amount (in rupees) of commission will he earn in 2 weeks, if he
sells 12 markers and 8 Gel pens a day?
Correct
Commission for
marker=(35*12)*10/100=42
Commission for Gel pen
=(65*8)*20/100=104
Total Commission earned in 2 weeks is,
(104+42)*14=2044.
Incorrect
Commission for
marker=(35*12)*10/100=42
Commission for Gel pen
=(65*8)*20/100=104
Total Commission earned in 2 weeks is,
(104+42)*14=2044.
Question 15 of 25
15. Question
1 points
A discount of 20% is given on the marked price of an article. The shopkeeper charges
sales tax of 10% on the discounted price. If the selling price be Rs 1848, what is the
marked price (in rupees) of the article?
Correct
Let the MP be x
Then x* 80/100(20%discount)
*110/100(10%sales) =1848
X=2100
Incorrect
Let the MP be x
Then x* 80/100(20%discount)
*110/100(10%sales) =1848
X=2100
Question 16 of 25
16. Question
1 points
A calculate his profit %ge on the selling price whereas B calculate his on the cost
price. They find that the difference of their profit is Rs 150. If the selling price of both
of them are same and both of them get 20% profit, find their selling price (in rupees).
Correct
Let SP is x
A’s profit =x*20/120=x/6
B’s profit =x*20/100=x/5
Diff is x/6-x/5=150
x/30=150==>x=4500
Incorrect
Let SP is x
A’s profit =x*20/120=x/6
B’s profit =x*20/100=x/5
Diff is x/6-x/5=150
x/30=150==>x=4500
Question 17 of 25
17. Question
1 points
A person sells two fans for Rs. 6800. The cost price of the first fan is equal to the
selling price of the second fan. If the first is sold at 30% loss and the second at 100%
gain, what is total profit or loss (in rupees)?
Correct
Let the cp of 1st fan = sp of 2nd fan = Rs
100
∴ sp of 1st fan = 70(loss 30%)
Cp of 2nd fan = 50 (profit 100%)
Total cp = 100 + 50 = 150
and total sp = 70 + 100 = 170
∴ When SP = 6800,
then cp = 150/170 x 6800 = 6000
∴ Profit = 6800 – 6000 = 800
Incorrect
Let the cp of 1st fan = sp of 2nd fan = Rs
100
∴ sp of 1st fan = 70(loss 30%)
Cp of 2nd fan = 50 (profit 100%)
Total cp = 100 + 50 = 150
and total sp = 70 + 100 = 170
∴ When SP = 6800,
then cp = 150/170 x 6800 = 6000
∴ Profit = 6800 – 6000 = 800
Question 18 of 25
18. Question
1 points
A dealer allowed a discount of 25% on marked price of Rs.20,000 on an article and
incurred a loss of 20%. What discount should he allow on the marked price so that
he gains Rs.450 on the article?
Correct
25% discount==>20,000*75/100=15000
Then loss 20% means
x*80/100=15000=3750*5=18750
He gain 450 means SP=18750+450=19200
Now 20000-19200=800
%ge =800/20000*100=4%
Incorrect
25% discount==>20,000*75/100=15000
Then loss 20% means
x*80/100=15000=3750*5=18750
He gain 450 means SP=18750+450=19200
Now 20000-19200=800
%ge =800/20000*100=4%
Question 19 of 25
19. Question
1 points
A dealer marked the price of an item 20% above cost price. He allowed two
successive discounts of 20% and 25% to a customer. As a result he incurred a loss of
Rs.1400. At what price (in rupees) did he sell the item to the customer?
A reputed company sells a wrist watch to a wholesaler making a profit of 10%. The
wholesaler, in turn, sells it to the retailer making a profit of 10%. A customer
purchases it by paying Rs. 990. Thus the profit of retailer is 2(3/11)% What is the
cost (in rupees) incurred by the the company to produce it?
Correct
x*110/100*110/100*(100 + 25/11)/100 =
990
x = 800
Incorrect
x*110/100*110/100*(100 + 25/11)/100 =
990
x = 800
Question 21 of 25
21. Question
1 points
A dealer buys a product at Rs. 1920 , he sells at a discount of 20% still he gets the
profit of 20% . What is the selling price of that product?
A firm of readymade garments makes both men’s and women’s shirts. Its average
profit is 6% of the sales. Its profit in men’s shirts average 8% of the sales and women’s
shirts comprise 60% of the output. Find the average profit per sales rupee in women’s
shirts .
Correct
According to questions,
women’s shirts comprise 60% of the
output.
Therefore, Men’s shirts comprise 40% of
the output.
Average profit from men’s shirts = 8% of
40 = 3.2 out of 40
Overall average profit = 6 out of 100
Average profit from women’s shirts = 2.8
out of 60
= 0.0466 out of each shirt.
Incorrect
According to questions,
women’s shirts comprise 60% of the
output.
Therefore, Men’s shirts comprise 40% of
the output.
Average profit from men’s shirts = 8% of
40 = 3.2 out of 40
Overall average profit = 6 out of 100
Average profit from women’s shirts = 2.8
out of 60
= 0.0466 out of each shirt.
Question 24 of 25
24. Question
1 points
A shopkeeper marks his goods 20% above his cost price and gives 15% discount on the marked price. Find his gain%.
A, B and C invest in the ratio of 3 : 4 :5 . The percentage of return on their
investments are in the ratio of 6 : 5 : 4 . Find the total earnings, if B earns Rs. 250
more than A.
Correct
A ————– B ———
—– C
Invetsment 3x ———— 4x ———
—— 5x
Rate of return 6y% ———-5y%———
—— 4y%
Return (18xy/100)—-
(20xy/100)—–(20xy/100)
Total = (18+20+20) = 58xy/100
B’s earnings – A’s earnings = 2xy/100 =
250
Total earnings = 58xy/100 = 7250
Incorrect
A ————– B ———
—– C
Invetsment 3x ———— 4x ———
—— 5x
Rate of return 6y% ———-5y%———
—— 4y%
Return (18xy/100)—-
(20xy/100)—–(20xy/100)
Total = (18+20+20) = 58xy/100
B’s earnings – A’s earnings = 2xy/100 =
250
Total earnings = 58xy/100 = 7250