Profit and Loss Test

Result

Profit and Loss Test - 13

Score
-
out of -
Rank
-
out of -

TIME Taken - -

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Weekly Quiz Competition

Question 1
1 / -0

Raman sells two beds at the same price. On the first he makes a profit of 20% and on the second he incurred a loss of 20%. Find his gain or loss percent in the whole transaction.

A
Profit of 6%

B
Loss of 6%

C
Profit of 4%

D
Loss of 4%

E
Profit of 7%

Solution

Let the S.P. of first bed be Rs x.
Profit = 20%.
C.P. =
Now, S.P. of the other bed is also 'x'.
Loss = 20%.
Similarly, C.P. = .
C.P. of both the beds =
S.P. of both beds = 2x.
Therefore, loss incurred during the whole transaction = 0.08x.
Loss% = = 3.85 = 4%
Question 2
1 / -0

Seema bought a table for Rs. 400/- and sold it at a profit of 15%. What would have been increase in the profit if it were sold at Rs. 500/-?

A
Rs. 40

B
Rs. 20

C
Rs. 10

D
Rs. 50

E
Rs. 30

Solution

C.P. of table = Rs. 400.
Profit % = 15%.
S.P. =
S.P. = Rs. 460.
Hence, profit = Rs. 60.
New S.P. = Rs. 500.
Therefore, new profit = 100 - 60 = Rs. 40.
Question 3
1 / -0

Deeksha bought an article and spent Rs. 150 on its repairs. She sold it to Anita at a profit of 20%. Anita sold it to Somya at a profit of 15%. Somya sold it for Rs. 1587 at a profit of 15%. How much did Deeksha pay for the article?

A
Rs. 950

B
Rs. 850

C
Rs. 900

D
Rs. 800

E
Rs. 1050

Solution

Somya's S.P. = Rs. 1587 & Profit = 15%.
On solving, we find that
Somya's C.P.= Rs. 1380.
Now, Somya's C.P. = Anita's S.P.
Anita's profit is 15%.
Therefore, on solving we find her C.P. = Rs. 1200.
Now Anita's C.P. = Deeksha's S.P.
Similarly we calculate, Deeksha's C.P. to be Rs. 1000.
Hence, Deeksha's C.P. including repairs = 1000.
Therefore, she paid Rs. 1000 - 150 = Rs. 850 for the article.
Question 4
1 / -0

On selling an article for Rs. 950 a man incurred a loss of 5%. At what price should he sell the article to gain 25%?

A
Rs. 1160

B
Rs. 1050

C
Rs. 1150

D
Rs. 1260

E
Rs. 1250

Solution

S.P. = Rs. 1000.
Loss = 5%.
On calculating we find, C.P. = = Rs 1000.
Now we have, C.P. = Rs 1000, P% = 25.
Hence on calculating, S.P. comes out to be = Rs. 1250
Question 5
1 / -0

Two brands of rice costing Rs. 35 and Rs. 40 per Kg respectively are mixed in the ratio 2 : 3 by weight. If one-fifth of the mixture is sold at Rs. 46 per Kg, and the remaining at the rate of Rs. 55 per Kg, find the profit percent.

A
40%

B
50%

C
60%

D
30%

E
20%

Solution

Let 2a kg and 3a kg rice be mixed. C.P. of mix brands = 35 × 2a + 40 × 3a = 190a.
Weight of sold mixture = one-fifth of 5a = a kg.
Weight of remaining mixture = 4a kg.
S.P. of whole mixture = 46 × a + 55 × 4a = 266a.
Profit = S.P. - C.P. = 266a - 190a = 76a.
P% on calculating, we get = 40%
Question 6
1 / -0

A shopkeeper purchased 80 kg of wheat at the rate of Rs. 6.75 per kg and mixed it with 120 kg of wheat purchased at Rs. 8.00 per kg. At what rate (per kg) must he sell the mixture to have a gain of 20%?

A
Rs. 7.00

B
Rs. 11.00

C
Rs. 9.00

D
Rs. 10.00

E
Rs. 12.00

Solution

C.P. of 80 kg of wheat = Rs. 540
C.P. of 120 kg of wheat = Rs. 960
C.P. of 200 kg of mixture = Rs. (540 + 960) = Rs. 1500
C.P. of 1 kg of mixture = Rs. 7.50
Gain % = 20%
On calculating, we get S.P. = Rs. 9.00
Question 7
1 / -0

Shilpa sells a laptop at 6% profit. If she had sold it at 10% profit, she would have received Rs. 2,000 more. What is the first selling price of the laptop?

A
Rs. 53,200

B
Rs. 53,000

C
Rs. 63,000

D
Rs. 53,500

E
Rs. 43,000

Solution

Let the C.P. be 'x' Profit = 6%.
Therefore, first S.P. = .
Second S.P. = .
Given, difference = Rs. 2000.
On solving we get x = Rs. 50,000.
Therefore first S.P. = = Rs. 53,000
Question 8
1 / -0

The cost price of a desk and a chair is Rs. 450. If the desk costs 25% more than the chair, find the C.P. of desk.

A
Rs. 359

B
Rs. 329

C
Rs. 369

D
Rs. 379

E
Rs. 250

Solution

Let the C.P.of a desk = Rs. x
Then, C.P. of desk =
C.P. of a desk + C.P. of a chair = Rs. 450.
x + = Rs.450
On solving we get,
x = 200
Required C.P. of 1 chair = Rs. 200
C.P. of 1 desk = Rs. 450 - 200 = Rs. 250
Question 9
1 / -0

By selling a juicer for Rs. 960, a man incurred a loss of 4%. At what price should he sell the juicer to gain 16%?

A
Rs. 1360

B
Rs. 1280

C
Rs. 1160

D
Rs. 1180

E
Rs. 1260

Solution

S.P. of Juicer = Rs. 960.
Loss = 4%.
Let C.P. = x.
Therefore, C.P. - Loss = S.P. x - = 960.
Therefore, x = Rs. 1000 = C.P.
Now, gain % = 16%.
Therefore, S.P. = 1000 + 160 = Rs. 1160.
Question 10
1 / -0

A man bought 240 pencils at Rs. 9 per dozen. If he sold them at Re. 1 each, what is his profit percent?

A
33.33%

B
43.33%

C
30.33%

D
31.33%

E
33.63%

Solution

C.P. of 1 pencil =
S.P. of 1 pencil = 1

Profit =
P% = = 33.33%
Question 11
1 / -0

What is the S.P. of a dozen of roses, if the C.P. of each rose is Rs. 1.20 and the profit on selling 30 roses is Rs. 5.40?

A
Rs. 16.43

B
Rs. 16.76

C
Rs. 16.46

D
Rs. 16.56

E
Rs. 16.65

Solution

C.P. of 1 rose = Rs. 1.20.
Profit on selling 30 roses = Rs. 5.40.
Then, profit on selling 1 Rose = = Rs. 0.18.
S.P. of 1 Rose = 1.20 + 0.18 = Rs. 1.38.
S.P. of 1 dozen roses = 1.38 × 12 = Rs. 16.56
Question 12
1 / -0

Ravi purchased a Book for Rs. 300 and sold it to Ramesh at a gain of 25%. Ramesh sold it to Rajendra at a loss of 10%. For how much did Rajendra buy it?

A
Rs. 327.50

B
Rs. 337.50

C
Rs. 336.50

D
Rs. 337.40

E
Rs. 337.00

Solution

C.P. of Ravi = Rs. 300.
Gain % = 25%.
S.P. of Ravi = = Rs. 375 = C.P. of Ramesh.
S.P. of Ramesh = = Rs. 337.50 = C.P. of Rajendra.
Therefore, Rajendra purchased the book for Rs. 337.50.
Question 13
1 / -0

By selling an article for Rs. 600, a man gains 20% on the C.P. At what % should he sell it to gain 30%?

A
Rs. 650

B
Rs. 750

C
Rs. 600

D
Rs. 700

E
Rs. 850

Solution

C.P. = = Rs. 500

S.P. = 500 + × 500 = 500 + 150 = Rs. 650
Question 14
1 / -0

A watch is sold for Rs. 350. If sales tax accounts for one-tenth of this and profit is one-fifth of the remainder, find the C.P. of the watch.

A
Rs. 257

B
Rs. 272

C
Rs. 252

D
Rs. 262

E
Rs. 251

Solution

S.P. of watch = Rs. 350.
Sales tax = Rs. 35 (one-tenth of 350).
Thus, Profit = one-fifth of Rs. 315 = Rs. 63.
Let C.P. = x.
So, C.P. + Profit + Sales tax = S.P.
X + 63 + 35 = 350
X = 350 - 98 = 252.
Therefore, C.P. = Rs. 252
Question 15
1 / -0

On selling a tape recorder for Rs. 3600, Suresh loses 10%. Calculate his loss or gain % if he sells it for Rs. 4225.

A
%

B
%

C
%

D
%

E
%

Solution

S.P. = Rs. 3600.
Let, C.P. be 'x'.
S.P. = C.P. - Loss.
3600 =
x = Rs. 4000.
Therefore, C.P. = Rs. 4000.
New S.P. = Rs. 4225.
Profit = 4225 - 4000 = Rs. 225
P% = = %