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Quiz: Profit & Loss

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Number of Questions: 45

Question: 41 -

 Find the single discount equivalent to a series discount of 30 %, 20 % and 10 %.

Options:

  1. 38.21%

  2. 33.33%

  3. 48.3%

  4. 49.6%

    5. Answer:

    49.6%
    Solution:

    Let marked price be Rs. 100 Therefore, selling price = 90%, 80% and 70% of Rs. 100

    Selling Price = [(90/100) ×(80/100)×(70/100)× 100]

    = 50.4

    Required discount = Marked Price – Selling Price= 100 – 50.4= 49.6 %

Question: 42 -

A dealer marks price of all the goods at 30 % above the cost price and assumes that he will make a profit of 15 % if he offers a discount of 15%. Find what will be his actual profit on sales?

Options:

  1. 12.5%

  2. 15%

  3. 30%

  4. 10.5%

    5. Answer:

    10.5%
    Solution:

    Let cost price goods be Rs. 100

    Marked price (Selling Price) marked by the shopkeeper on goods = Rs. 130

    He sells the goods at a discount of 15 %

    Therefore,Selling price = 85 % of Rs. 130 = Rs. 110.50

    Gain = S.P. – C.P. = 110.5 – 100

    = 10.50 %

Question: 43 -

After two successive discounts, a tie with a list price of Rs. 120 is available at Rs. 90. If second discount is 9 %, what is the first discount?

Options:

  1.  None of these

  2. 17.58%

  3. 13.26%

  4. Data      inadequate

    5. Answer:

    17.58%
    Solution:

    Let first discount = x

    91 % discount of (100 – x) % of 120 = 90  (100 – x)

    =[(90 × 100 × 100)/(120*91)]

    = 82.42

    x = (100 – 82.42) = 17.58

    Therefore, first discount = 17.58 %

Question: 44 -

The profit percentage of P and Q is same on selling the articles at Rs. 1800 each but A calculates his profit on the selling price while Q calculates it correctly on the cost price which is equal to 20%. What is the difference in their profits?

Options:

  1. 70

  2. 50

  3. None of these

  4. 60

    5. Answer:

    60
    Solution:

    Profit(Calculated on SP) = 20% of 1800 = 360

    Profit(calculated on CP)

    x + x/5 = 1800 x = 1500

    Profit = 300

    Difference = 360 – 300 = 60

Question: 45 -

A shopkeeper sells his goods at cost price but uses a weight of 970 grams for a kg. weight. What is his gain percent?

Options:

  1. 3.09%

  2. 5.08%

  3. 3.26%

  4. 4.23%

    5. Answer:

    3.09%
    Solution:

    Gain% =[Error/(True weight-error)× 100 ]%

    Error = True weight – False weight Error

    = 1000 – 970 = 30

    Gain% =[30/(1000-30)] × 100]% Gain %= 3.09%