Profit And Loss Test

Result

Profit And Loss Test - 4

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Weekly Quiz Competition

Question 1
1 / -0

A watch was sold at a loss of 10 percent. If it was sold for $70 more, there would have been a gain of 4 percent. What was the CP of the watch?

A
$475

B
$500

C
$550

D
$600

Solution

Let the cost price of the watch is $x.
Selling Price = 0.9x$
New Selling Price = 0.9x + 70
New gain = 4% of x = 0.04x
According to the question,
0.9x + 70 - x = 0.04x
0.14x = 70
x = $500
Question 2
1 / -0

A man spends 85% of his income. If he saves $37.50, find the salary.

A
$246.50

B
$250

C
$254

D
$260

Solution

Let income be $x
Expenses = 85% of x = 0.85x
Savings = (1 - 0.85)x = 0.15x
0.15x = $37.50 {given}
x = $250
Question 3
1 / -0

In an election between two candidates, Mr. Hero secures 45% of the total votes, but is defeated by Mr. Zero by 300 votes. Find out the total number of votes polled, if it is known that all the votes polled are valid.

A
1200

B
1500

C
3000

D
3300

Solution

Let the total number of votes polled be x.
So, (55% - 45%) of total votes (x) = 300
Or 10% of x = 300
Or x = 3000
Question 4
1 / -0

A man sold an article for $75 and lost something. Had he sold it for $96, his gain would have been double the former loss. The cost price of the article is

A
$85.5

B
$82

C
$81.5

D
$83

Solution

1^st case:
SP = $75
Let loss = $x
CP = $(75 + x)

2^nd case:
SP = $96
Profit = $2x
CP = $(96 - 2x)

So,
75 + x = 96 – 2x
3x = 21
x = $7
CP = $(7 + 75) = $82
Question 5
1 / -0

Successive discounts of 10% and 20% are equivalent to a single discount of

A
30%

B
28%

C
27.5%

D
29.25%

Solution

Total discount = 10% + 20% - (10 x 20/100)% = 10% + 20% - 2% = 28%
Question 6
1 / -0

If a merchant estimates his profits as 20% of the selling price, what is his real profit percent?

A
20%

B
22%

C
25%

D
30%

Solution

Let S.P be Rs. 100
then Rs. 20 = 20% profit.
C.P = 80%
or profit on cost price = 25%.
Question 7
1 / -0

Gangaram buys 7000 bananas at Rs. 2 each and agrees to pay an additional sum of Rs. 300 for their delivery. He estimated that 10% of the bananas will be spoiled, so he decides a selling price of Rs. 3 each for the remaining. However, during delivery, 20% of the bananas are spoiled. What should be the percent increase in the selling price in order to obtain the same total profit?

A
20.5%

B
12.5%

C
25.6%

D
30.3%

Solution

10% decrease means there are 6300 bananas.
Total S.P. = 6300 x Rs. 3 = Rs. 18900

Actual number of bananas left after 20% decrease = 5600
To keep the profit the same, S.P. of each banana should be Rs. 18900/5600 = Rs. 3.375

Percent increase in S.P. = [(3.375 - 3)/3] x 100 = 12.5%

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Re-Attempt Weekly Quiz Competition

Profit And Loss Test - 4

Result

Profit And Loss Test - 4

Score

-

Rank

-

SHARING IS CARING

Question 1

$475

$500

$550

$600

Solution

Question 2

$246.50

$250

$254

$260

Solution

Question 3

1200

1500

3000

3300

Solution

Question 4

$85.5

$82

$81.5

$83

Solution

Question 5

30%

28%

27.5%

29.25%

Solution

Question 6

20%

22%

25%

30%

Solution

Question 7

20.5%

12.5%

25.6%

30.3%

Solution

User

Question Analysis

My Perfomance

Score

-

Rank

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