Profit And Loss Test

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Profit And Loss Test - 1

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Question 1
1 / -0

Umesh purchased 360 eggs at the rate of 78 paise each. On this, he paid Rs. 14 as octroi, Rs. 13 as transport and Rs. 5 as additional charges. He kept 7 eggs for himself. At what rate should he sell each of the remaining eggs to get a total profit of Rs. 70?

A
Rs. 1.2

B
Rs. 1.08

C
Rs. 1.25

D
Rs. 1.80

Solution

Total cost = 360 × 0.78 + 14 + 13 + 5 = Rs. 312.80
He needs to sell 353 eggs for 312.8 + 70 = Rs. 382.8.
Thus, price of one egg = Rs. 1.08
Question 2
1 / -0

A man sold an article at a profit of 15%. If he had bought it at 15% less and sold it for Rs. 78 less, he would have gained 20%. What was the cost price of the article?

A
Rs. 600

B
Rs. 700

C
Rs. 800

D
Rs. 900

Solution

Let the original cost price be Rs. c.
So, original sales price = Rs. s₁ = Rs. 1.15c

New sales price = Rs. s₂ = Rs. (1.15c - 78)
New cost price = Rs. c₂ = Rs. 0.85c

So, (1.15c - 78) = 1.20(0.85c) = 1.02c
or, c = 600

Thus, the cost price of the article is Rs. 600.
Question 3
1 / -0

A businessman makes a profit of 20% by selling 355 books at the same price. Had he sold 570 books of the previous price, then what would have been his loss percent?

A
20%

B
15%

C
10%

D
None of these

Solution

SP = 1.2CP
New SP = 2/3SP

% Loss = (new SP – CP)/CP x 100 = (2/3SP – CP) x 100/CP = (2/3 x 1.2CP – CP) x 100/CP = - 20%
Question 4
1 / -0

A tradesman marks an article at a price which would give him a profit of 20% on the cost price. To the favoured customers, he makes a deduction of 5% from the marked price. What actual profit does he receive from the sale of an article to a favoured customer for which the latter pays him $28.50?

A
$3.50

B
$5.70

C
$5.00

D
$5.75

Solution

Let the CP of the article be $x.
MP = x + 20% of x = $1.2x

When a discount is given on this MP,
SP of the article = (95/100) × 1.2x = $1.14x

But 1.14x = 28.50
So, x = 25

CP of the article = $25
SP = $28.50
Profit = $3.50
Question 5
1 / -0

A wholesaler is selling 900 gm rice at a cost of a kilogram to the retailer at a price which is 14% more than the cost price at which the wholesaler purchased 1 kg rice. What is the net profit % of the wholesaler?

A
26.67%

B
25.13%

C
21.66%

D
20.61%

Solution

Let the cost price of 1 kg rice for the wholesaler be Rs. 100.
Now, selling price of 900 gm of rice for the wholesaler is Rs. 114.
Selling price of 1 kg of rice for the wholesaler = 114 × 10/9 = Rs. 126.67
Profit % = 26.67%
Question 6
1 / -0

A manufacturer makes a profit of 15% by selling a colour television for Rs. 6900. If the cost of manufacturing increases by 30% and the price paid by the retailer is increased by 20%, then find the profit percent made by the manufacturer.

A
9.15%

B
7.15%

C
6.85%

D
6.15%

Solution

Let the original cost to the manufacturer = Rs. c
So, 6900 = 1.15c

Or, c = 6000
New cost to the manufacturer = Rs. (1.30 x 6000) = Rs. 7800

Price paid by the retailer to the manufacturer = Rs. (1.20 x 6900) = Rs. 8280
Let the new profit percent earned by the manufacturer = Rs. 8280 - Rs. 7800 = Rs. 480

profit % = (480/7800) x 100% = 6.15%
Thus, the manufacturer makes a profit of 6.15%.
Question 7
1 / -0

A woman buys mangoes at Rs. 25 a dozen and buys an equal number at a price of Rs. 30 per 20 mangoes. She sells them at Rs. 1.80 per piece and thus, gains Rs. 25 on her outlay. How many mangoes did she buy?

A
3000

B
3100

C
3200

D
3300

Solution

Suppose, the woman buys 60 mangoes of the first kind and 60 mangoes of the second kind [LCM of 12 mangoes and and 20 mangoes].
CP of 60 mangoes = Rs. 125

And CP of another 60 mangoes = Rs. 90
∴ CP of 120 mangoes = Rs. 215

SP of 120 mangoes = 120 × 1.8 = Rs. 216
Gain = Re 1

For the gain of Re 1, number of mangoes purchased = 120
For the gain of Rs. 25, number of mangoes purchased = 3000

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Re-Attempt Weekly Quiz Competition

Profit And Loss Test - 1

Result

Profit And Loss Test - 1

Score

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Rank

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SHARING IS CARING

Question 1

Rs. 1.2

Rs. 1.08

Rs. 1.25

Rs. 1.80

Solution

Question 2

Rs. 600

Rs. 700

Rs. 800

Rs. 900

Solution

Question 3

20%

15%

10%

None of these

Solution

Question 4

$3.50

$5.70

$5.00

$5.75

Solution

Question 5

26.67%

25.13%

21.66%

20.61%

Solution

Question 6

9.15%

7.15%

6.85%

6.15%

Solution

Question 7

3000

3100

3200

3300

Solution

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-

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