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Quiz: Profit & Loss

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Number of Questions: 45

Question: 36 -

If a boy sells a book for Rs. 450 he gets a loss of 10 %, then find cost price. To gain 10 %, what should be the selling price?

Options:

  1. 400, 500

  2.  550, 600

  3. 500, 550

  4. 475, 525

    5. Answer:

    500, 550
    Solution:

    Let C.P. of book = x and S.P. = Rs. 450

    S.P. of book = C.P. – (10% of C.P.) S.P. = x – (0.10x)  450 = 0.9 x cost price = Rs. 500                                               Selling Price to gain 10 %.

    S.P =[ (100 + Gain%)/100] × C.P.  

    selling Price = Rs. 550

Question: 37 -

Person A sold his car to Person B at a profit of 20% and B sold it to C at a profit of 10%.Person C sold it to mechanic at a loss of 9.09%. Mechanic spent 10% of his purchasing price and then sold it at a profit of 8.33% to Person “A” once again. What is the loss of person “A”?
 

Options:

  1. 40%

  2. 23%

  3. 29%

  4.  None of these

    5. Answer:

    23%
    Solution:

    A:CP = 100,SP = 120

    B:CP = 120,SP = 132

    C:CP = 132,SP = 120

    Mechanic:CP = 120 + 12 = 132

    SP = 143

    Loss of A = 143 – 120 = 23 % loss of A = (23 / 100) x 100 = 23%

Question: 38 -

Cost Price of two mobiles is same. One is sold at a profit of 20% and the other for Rs. 5200 more than the first. If the net profit is 40%. Find the cost price of each mobile?

Options:

  1. Data inadequate

  2.  None of these

  3. Rs. 12500

  4. Rs. 13000

    5. Answer:

    Rs. 13000
    Solution:

    CP of each mobile be Rs.x

    then (2 x 1.20 x x) + 5200

    = 2 x 1.4 x N  0.4 x = 5200 N

    = 13000

Question: 39 -

A person sold a pen 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 profit then new selling price will be?

Options:

  1. Rs.132

  2. Rs.192

  3. Rs.180

  4. Rs.150

    5. Answer:

    Rs.132
    Solution:

    CP = x

    Profit Percentage = x%

    SP =  x(100 + x)/100

    x(100 + x)/100  = 96    

    x = 60

    Profit Percentage = 60%

    New SP = 60 * 220 / 100 = 132

Question: 40 -

A reduction of 20% in the price of sugar enables a housewife to purchase 6 kg more for Rs.240. What is original price per kg of sugar? 

Options:

  1. Data inadequate

  2. Rs.6 per Kg

  3. Rs.10 per Kg

  4. Rs.5 per Kg

    5. Answer:

    Rs.10 per Kg
    Solution:

    Reduction in price = 1/5

    = 20% Increase in Quantity = 25% 25% = 6 Kg.

    original amount of Sugar = 6*4

    = 24Kg.

    Original price of the sugar = 240/24 = Rs. 10 per kg.