Online Mock Tests 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 2
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Subject :- Quantitative Aptitude
Chapter :- Profit and Loss – Test 2
Questions :- 25
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Jagran group launched a new magazine in January 2004. The group printed 10000
copies initially for Rs. 50000. It distributed 20% of its stock freely as specimen copy
and 25% of the rest magazines are sold at 25% discount and rest at 16.66% discount
whose printing price was Rs. 12 per copy . What is the overall gain or loss in the first
month’s issue of magazine, if the magazine could not realize the income from
advertisements or other resources?
Correct
Total cost = Rs.50,000
Total sale price = 2000 * 9 + 6000 * 10 =
78,000
Profit% = (28000/50000)*100 = 56%
Incorrect
Total cost = Rs.50,000
Total sale price = 2000 * 9 + 6000 * 10 =
78,000
Profit% = (28000/50000)*100 = 56%
Question 2 of 25
2. Question
1 points
A dishonest trader marks up his goods by 80% and gives discount of 25% . Besides
he gets 20% more amount per kg from wholeseller and sells 10% less per kg to customer. What is the overall profit percentage ?
By selling 12 marbles for a rupee, a shopkeeper loses 20% . In order to gain
20% in the transaction , he should sell the marbles at the rate of how many marbles
for a rupee?
Correct
SP of 12 marbles = Rs.1 , loss = 20%
CP of 12 marbles = Rs. (1/0.8) = Rs. 1.25
SP of 12 marbles at a gain of 20%
CP * 1.2 = 1.25 *1.2
= Rs. 1.5
It means in order to gain 20%, he should
sell 12 marbles for Rs.1.5
For Rs. 1 , he should sell 12/1.5 = 8 marbles
Incorrect
SP of 12 marbles = Rs.1 , loss = 20%
CP of 12 marbles = Rs. (1/0.8) = Rs. 1.25
SP of 12 marbles at a gain of 20%
CP * 1.2 = 1.25 *1.2
= Rs. 1.5
It means in order to gain 20%, he should
sell 12 marbles for Rs.1.5
For Rs. 1 , he should sell 12/1.5 = 8 marbles
Question 4 of 25
4. Question
1 points
A shopkeeper bought a DVD marked at Rs. 200 at successive discounts of 10% and
15% respectively. He spent Rs. 7 on transport and sold the table for Rs.208
.What will be his profit percentage ?
Correct
Single equivalent discount for 10% and
15% = (15 + 10 – (15*10/100))%
= 23.5%
CP of DVD = 200*(100- 23.5)% = Rs.153
Expense on transport = Rs. 7
Actual CP = 153 + 7 = Rs. 160
Profit % = [(208 – 160)/160]*100 = 30%
Incorrect
Single equivalent discount for 10% and
15% = (15 + 10 – (15*10/100))%
= 23.5%
CP of DVD = 200*(100- 23.5)% = Rs.153
Expense on transport = Rs. 7
Actual CP = 153 + 7 = Rs. 160
Profit % = [(208 – 160)/160]*100 = 30%
Question 5 of 25
5. Question
1 points
The cost of setting up a magazine is Rs.2800. The cost of paper and ink is Rs.80/ 100 copies and printing cost is Rs. 160 / 100 copies. In the last month 2000 copies were printed but only 1500 copies could be sold at Rs. 5 each . Total 25% profit on the sale price was realized. There is one more resource of income from the magazine which is advertising. What sum of money was obtained from the advertising in magazine ?
Correct
Setup cost = Rs.2800
Paper , ink = Rs. 1600
Printing cost = Rs. 3200
Total cost = Rs. 7600
Total sale price = 1500*5 = 7500
Let the amount obtained from advertising is
x,
then
(7500+x) – 7600 = 25% of 7500
=> x = 1975
Incorrect
Setup cost = Rs.2800
Paper , ink = Rs. 1600
Printing cost = Rs. 3200
Total cost = Rs. 7600
Total sale price = 1500*5 = 7500
Let the amount obtained from advertising is
x,
then
(7500+x) – 7600 = 25% of 7500
=> x = 1975
Question 6 of 25
6. Question
1 points
A dealer offers a discount of 20% and still makes a profit of 20% and he further
allows 4 articles free on the sale of 12 articles. Find the ratio of cost price to market price.
Correct
Formula : MP(1 – d%) = CP(1+g%)
MP(80/100) = CP(120/100)
CP/MP = 80/120———(1)
Now,
16 articles given in the cost of 12 articles
MP of one article = total /12——–(2)
CP of one article = total /16———(3)
For one article:
CP/MP= (80/16)/(120/12) = 1/2
Incorrect
Formula : MP(1 – d%) = CP(1+g%)
MP(80/100) = CP(120/100)
CP/MP = 80/120———(1)
Now,
16 articles given in the cost of 12 articles
MP of one article = total /12——–(2)
CP of one article = total /16———(3)
For one article:
CP/MP= (80/16)/(120/12) = 1/2
Question 7 of 25
7. Question
1 points
A and B are dealers of a bike company. The price of a bike is Rs.28,000. A gives a
discount of 10% on whole , while B gives a discount of 12% on the first Rs.20,000 and
8% on the rest Rs.8000. What is the difference between their selling price?
Correct
A’ s discount = 2800
B’s discount = 2400+640 = 3040
Required difference = 3040-2800 = Rs.240
Incorrect
A’ s discount = 2800
B’s discount = 2400+640 = 3040
Required difference = 3040-2800 = Rs.240
Question 8 of 25
8. Question
1 points
Sonata sells a wrist watch to a wholeseller making a profit of 10%. The wholesaler
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 incurred by the
Sonata to produce it?
Correct
[((x*1.1)*1.1)*(1125/1100)] = 990
=> x = 800
Incorrect
[((x*1.1)*1.1)*(1125/1100)] = 990
=> x = 800
Question 9 of 25
9. Question
1 points
Fanta and Coke, there are two companies, selling the packs of cold-drinks. For the
same selling price Fanta gives two successive discounts of 10% and 25%.
While Coke sells it by giving two successive discounts of 15% and 20%.
What is the ratio of their marked price?
Profit on selling 10 candles equals selling price of 3 bulbs. While loss on selling 10
bulbs equals selling price of 4 candles. Also profit percentage equals to the loss
percentage and cost of a candle is half of the cost of a bulb. What is the ratio of
selling price of candle to the selling price of a bulb?
Correct
Candle —————— Bulb
CP ….x ——————– y
SP…..a———————b
and y = 2x
Profit = 10(a – x) = 3b
Loss = 10(y – b) = 4a
Profit% = (3b/10x)*100———–(1)
and Loss% = (4a/10y)*100———-(2)
Again,
equating (1) & (2), we get
a/b = 3/2
Incorrect
Candle —————— Bulb
CP ….x ——————– y
SP…..a———————b
and y = 2x
Profit = 10(a – x) = 3b
Loss = 10(y – b) = 4a
Profit% = (3b/10x)*100———–(1)
and Loss% = (4a/10y)*100———-(2)
Again,
equating (1) & (2), we get
a/b = 3/2
Question 11 of 25
11. Question
1 points
A person wants to reduce the trade tax so he calculates his profit on the sale price
instead of on the cost price. In this way by selling a article for Rs. 280 he calculates
his profit as 14(2/7)%. What is his actual profit percentage ?
A person sold an electronic watch at Rs. 96 in such a way that his percentage profit
is same as the cost price of the watch . If he sells it at twice the percentage profit of its
previous percentage then find the new selling price.
Correct
SP = x + (x*x)/100 = 96%
=> x = 60
New , SP = 60+(60*120)/100 = Rs. 132
Incorrect
SP = x + (x*x)/100 = 96%
=> x = 60
New , SP = 60+(60*120)/100 = Rs. 132
Question 13 of 25
13. Question
1 points
A bookseller procures 40 books for Rs. 3200 and sells them at a profit equal to the
selling price of 8 books. What is the selling price of one dozen books, if the price of
each book is same?
Correct
CP = Rs. 3200/40 = Rs.80
Now SP of 40 books = CP of 40 books +
SP of 8 books
=> SP of 32 books = 3200
SP of 1 book = Rs.100
Therefore,
Required SP of 1 dozen books = Rs. 1200
Incorrect
CP = Rs. 3200/40 = Rs.80
Now SP of 40 books = CP of 40 books +
SP of 8 books
=> SP of 32 books = 3200
SP of 1 book = Rs.100
Therefore,
Required SP of 1 dozen books = Rs. 1200
Question 14 of 25
14. Question
1 points
A firm of readymade garments makes both men’sand 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. What is the average profit per sales rupee in women’s
shirts.
Correct
Women’s shirts comprise = 60%
Men’s shirts comprise =40%
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 i.e. 0.0466 out of each shirt.
Incorrect
Women’s shirts comprise = 60%
Men’s shirts comprise =40%
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 i.e. 0.0466 out of each shirt.
Question 15 of 25
15. Question
1 points
Of the two varieties of rice available, variety A is bought at Rs.32 per kg and
variety B at Rs.80 per kg. Two varieties of rice are mixed together in the respective
ratio of 8:5 and the mixture is sold at Rs.72 per kg. What per cent of profit
approximately the seller receives ?
Correct
Let 8 kg of first variety of rice and 5 kg of
second variety is mixed.
CP of 13 kg of rice = (8*32 + 5*32) = Rs.
656
SP of 13 kg of rice = 72*13 = Rs.936
Profit = 936 – 656 = Rs.280
Profit% = (280/656)*100 = 43%
Incorrect
Let 8 kg of first variety of rice and 5 kg of
second variety is mixed.
CP of 13 kg of rice = (8*32 + 5*32) = Rs.
656
SP of 13 kg of rice = 72*13 = Rs.936
Profit = 936 – 656 = Rs.280
Profit% = (280/656)*100 = 43%
Question 16 of 25
16. Question
1 points
Raman calculates his profit % on the selling price whereas Rajeev calculates his on the cost price. They find that the difference of their profits Rs.150. If the selling price of both the m are the same and both of them get 50% profit. Find their selling price.
A trader has 600kgs of rice , a part of which he sells at 15% profit and the remaining quantity at 20% loss. On the whole , he incurs an overall
loss of 6% .What is the quantity of rice he sold at 20% loss?
Correct
Quantity of rice sold at 20% loss = x kg (let)
Quantity of rice sold at 15% gain = (600 – x )
kg
(600 – x) * (115/100) + (x*80)/100 = (600 *
94)/100
=> x = 12600/35 = 360 kg
Incorrect
Quantity of rice sold at 20% loss = x kg (let)
Quantity of rice sold at 15% gain = (600 – x )
kg
(600 – x) * (115/100) + (x*80)/100 = (600 *
94)/100
=> x = 12600/35 = 360 kg
Question 18 of 25
18. Question
1 points
A camel and a cart together cost Rs. 5000.If by selling the camel at a profit of 10%
and the cart at a loss of 10% a total profit of 2.5% is made ,then what is the cost price of the camel ?
Correct
Let the cp of the camel and the cart be x and
(8000-x) resp.sp of camel = 1.1x
sp of cart = 0.9(5000-x)
Therefore ,
1.1x * 0.9(5000 – x) = 5000 * 1.025
=> x = Rs. 3125
Incorrect
Let the cp of the camel and the cart be x and
(8000-x) resp.sp of camel = 1.1x
sp of cart = 0.9(5000-x)
Therefore ,
1.1x * 0.9(5000 – x) = 5000 * 1.025
=> x = Rs. 3125
Question 19 of 25
19. Question
1 points
If there is a loss of 40% when a good is sold at (2/5)th of its earlier selling price. Find the
profit% after selling the good at a certain price.
Correct
CP = (2/3) of SP
SP = (100+P) / 100 of CP
Equating both the above equations,
Profit = 50%
Incorrect
CP = (2/3) of SP
SP = (100+P) / 100 of CP
Equating both the above equations,
Profit = 50%
Question 20 of 25
20. Question
1 points
There are two watches of cost Rs. 800. One is sold at a profit of 16% and the other at a loss of 8%. If there is no loss or no gain in the whole
transaction, the cost price of the watch on which the shopkeeper gains is?
Correct
profit …………….loss
+16 …………….. -8
———–0
8……………16
1 : 2
Therefore ,
price of watch sold at profit = (1/2) * 800 = Rs.
400
price of watch sold at loss = 2 * 800 = Rs. 1600
Incorrect
profit …………….loss
+16 …………….. -8
———–0
8……………16
1 : 2
Therefore ,
price of watch sold at profit = (1/2) * 800 = Rs.
400
price of watch sold at loss = 2 * 800 = Rs. 1600
Question 21 of 25
21. Question
1 points
Niel bought 30kg rice at the rate of Rs.9.50/kg and 40kg of rice at the rate of Rs.
8.50/kg and mixed them. She told the mixture at the rate of Rs. 8.90/kg. Find the total profit or loss in the whole transaction.
Correct
Total CP = 30 *9.50 + 40 * 8.50 =625
Total SP = 8.9(30+40) =623
Loss = Rs.2
Incorrect
Total CP = 30 *9.50 + 40 * 8.50 =625
Total SP = 8.9(30+40) =623
Loss = Rs.2
Question 22 of 25
22. Question
1 points
If a shopkeeper sell a TV at 15% profit and a DVD at 12% loss then he earns Rs. 540 as total profit but if he sells the TV at 12% loss and the DVD at 15% proft then there is no loss or profit.Find the price of the TV and the DVD ?
Correct
TV ……………… DVD
CP—–500…………….400
SP—–+15%………… -12%
P = 75…………… L = -48
Total profit = 75 – 48 = Rs. 27
27 *20 = Rs. 540
CP of TV = 500 * 20 = Rs . 10,000
CP of DVD = 400 * 20 = Rs. 8000
Incorrect
TV ……………… DVD
CP—–500…………….400
SP—–+15%………… -12%
P = 75…………… L = -48
Total profit = 75 – 48 = Rs. 27
27 *20 = Rs. 540
CP of TV = 500 * 20 = Rs . 10,000
CP of DVD = 400 * 20 = Rs. 8000
Question 23 of 25
23. Question
1 points
A cloth merchant uses 120cm scale while buying,instead a meter scale ,but uses an 80 cm
scale while selling the same cloth. If he offers a discount of 20% on cash payment. Find the profit percent.
An article is marked 50% over its cost price.Two successive discounts of 12% and
13(1/2)% are allowed on the marked price of the article.Find the profit or loss percent after selling at discount.
Correct
Let the CP be Rs. 100
SP = 150 * (88/100) * (86.5/100) = Rs. 114.18
Therefore ,
= (14.18/100)*100 =14.18%
Incorrect
Let the CP be Rs. 100
SP = 150 * (88/100) * (86.5/100) = Rs. 114.18
Therefore ,
= (14.18/100)*100 =14.18%
Question 25 of 25
25. Question
1 points
A trader marked his goods at such a price that after allowing a discount of 12(1/2) % for cash payment, he makes a profit of 20% . What is the marked price of the good which costs Rs. 210 ?