Quiz: Profit & Loss

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Number of Questions: 45

Question: 21 -

A Shopkeeper fixes the marked price of an item 35% above its c.p.The percentage of discount allowed to gain 8% is.

Options:
  1. 17%

  2. 20%

  3. 25%

  4. 22%

  5. Answer:

    20%

    Solution:

    let C.P=RS 100

    Marked price=RS 135

    Required gain=8%

    so s.p=RS.108

    Discount=135-108=27

    Discount%=(27/135)*100=20%


Question: 22 -

A women buys an item at RS.1200 and sells it at the loss of 20%.find S.P OF item.

Options:
  1. RS.660

  2. RS.860

  3. RS.960

  4. RS.760

  5. Answer:

    RS.960

    Solution:

    Whenever x% loss,

    s.p=(100-x)% of c.p

    whenever x% profit, it means

    s.p=(100+x)% of c.p

    so here will be (100-x)% of c.p

    =80% of 1200

    =(80/100)*1200=960


Question: 23 -

A milkman purchases the milk at Rs. x per litre and sells it at Rs. 2x per litre still he mixes 2 litres water with every 6 litres of milk. Calculate P%?      

Options:
  1. 60%

  2. 166.66%

  3. 116%

  4. 100%

  5. Answer:

    166.66%

    Solution:

    Let the cost price of 1-liter {6 liters milk)  → C.P = Rs. 62 liters (water) → C.P = Rs. 0→CP = Rs.6 only

    8 litre mixture  =>

    SP =>  8 x 2 = Rs. 16

    Profit % = 16 − 66x100

    = 10006

    = 166.66%


Question: 24 -

A Scientist mixes 10% water in his solution but he is not content with it so he again mixes 10% more water in mixture.calculate profit% if he sells at cost price:

Options:
  1. None of these

  2. 16%

  3. 17.7%

  4. 21%

  5. Answer:

    21%

    Solution:

    let initial quantity of solution=100ltr

    after mixing 10% water,quantity of mixture=110*110/100=121 ltr

    c.p of 1 ltr solution=RS.1

    TOTAL CP=RS.100,S.P=RS.121

    PROFIT=121-100=21

    Profit%=21*100/100=21%


Question: 25 -

The profit% on 3 bikes are 15%,35%, and 10%. And the ratio of c.p is 5:3:1. also the ratio of bike sold of P,Q AND R is 2:3:5.calculate profit%.

Options:
  1. 16%

  2. Data inadequate

  3. 21%

  4. 18%

  5. Answer:

    21%

    Solution:

    5x*2y+3x*3y+x*5y=24xy

    Total profit=(5x*2y*15/100)+(3x*3y*35/100)+(x*5y*10/100)

    = 515xy/100

    =5.15xy

    overall profit%=5.15xy*100/24xy         =21.46%