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Profit and Loss Exercise 1

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Profit, Loss and Discount 1

  • This online quiz will test your knowledge of Profit, Loss and Discount in Quantitative Aptitude.
  • This Online Test is useful for academic and competitive exams.
  • Multiple answer choices are given for each question in this test. You have to choose the best option.
  • After completing the test, you can see your result.
  • There is no negative marking for wrong answers.
  • There is no specified time to complete this test.

By selling an article for ₹96, double profit is obtained than the profit that would have been obtained by selling it for ₹84. What is the cost price of the article?

Let the cost price of the article be ₹x.

Then, 2(84 – x) = 96 – x

168 – 2x = 96 – x

∴ x = ₹72

The owner of an electronics shop charges his customer 22% more than the cost price. If a customer paid ₹10,980 for a DVD player, then what was the cost price of the DVD player?

CP of DVD player = ₹x

According to the question,

xprofit-and-loss-q-59077.png

= ₹10980

∴ x = 10980 × ⁵⁰⁄₆₁ = ₹9000

The owner of a stationery shop charges his customers 28% more than the cost price. If a customer paid ₹4544 for school books, then what was the cost price of the school books?

Let the cost price be ₹x
Now, according to the question,
profit-and-loss-q-59071.png
= ₹3550

A shopkeeper purchases 10 kg of rice at ₹600 and sells at a loss as much the selling price of 2 kg of rice. Find the sale rate of rice/ kg.

Let S. P. = ₹x per kg

∴ S.P. of 2 kg of rice = ₹2x = Loss

Now, Loss = C.P. – S.P.

2x = 600 – 10 x

⇒ x = ₹50 per kg

The owner of a toy shop charges his customers 33% more than the cost price. If the customer paid ₹4,921 for a toy, then what was the cost price of the toy?

Required cost price

= profit-and-loss-q-59117.png

= ₹3700

Mohan purchased an article and sold it for ₹2817.50 and earned 15 percent profit on the cost price. What was the cost price of the article?

Cost price

= profit-and-loss-q-59111.png

= ₹2450

The profit earned after selling an article for ₹1,754 is the same as loss incurred after selling the article for ₹1,492. What is the cost price of the article?

Cost price
= profit-and-loss-q-59317.png ₹1623

Prathik sold a music system to Karthik at 20% gain and Karthik sold it to Swasthik at 40% gain. If Swasthik paid ₹10,500 for the music system, what amount did Prathik pay for the same?

Required amount

= profit-and-loss-q-59309.png

= ₹6250

If the manufacturer gains 10%, the wholesale dealer 15% and the retailer 25%, then find the cost of production of a table, the retail price of which is ₹1265?

Let the cost of production of the table be ₹x.

Then, 125% of 115% of 110% of x = 1265

profit-and-loss-q-59346.png

profit-and-loss-q-59340.png

A sells a tube to B at a profit of 20% and B sells it to C at profit of 25 %. If C pays ₹225 for it, what did A pay for it?

Let A paid = ₹x

125 % of 120% of x = 225

⇒ profit-and-loss-q-59412.png

⇒ profit-and-loss-q-59406.png

A sells an article which costs him ₹400 to B at a profit of 20%. B then sells it to C, making a profit of 10% on the price he paid to A. How much does C pay to B?

C.P. for B = 120% of ₹400

= profit-and-loss-q-59400.png= ₹480

C.P. for C = 110% of ₹480

= profit-and-loss-q-59393.png= ₹528.

The difference between the selling price of a clock at a profit of 8% and 10% is ₹6. Find the cost price of the clock.

Let C. P. = ₹x. Then S.P₁ – S.P₂ = ₹6

profit-and-loss-q-59369.png

⇒ 110 x – 108 x = 600

⇒ 2x = 600 ⇒ x = ₹300

The price of 2 sarees and 4 shirts is ₹16000. With the same money one can buy 1 saree and 6 shirts. If one wants to buy 12 shirts, how much shall one have to pay?

Let the price of one saree and one shirt be ₹x and ₹y respectively.

Then, 2x + 4y = 1600

or, x + 2y = 800 ... (i)

Also, x + 6y = 1600 ... (ii)

Solving equations (i) and (ii), we get

4y = 800 or, y = 200

∴ cost of 12 shirts

= 12 × 200 = ₹2400

A milk man makes a profit of 20% on the sale of milk. If he were to add 10% water to the milk, by what %would his profit increase?

Let profit per litre = ₹20

So, C.P. / litre = ₹100

S.P. / litre = ₹120

On adding 10% water to the milk

profit-and-loss-q-59646.png

profit-and-loss-q-59640.png

S.P. / litre profit-and-loss-q-59633.png

⇒ Profit / litre profit-and-loss-q-59627.png %

Profit increases = 33.33 – 20 = 13.3

A man sold two steel chairs for ₹500 each. On one he gains 20% and on other, he loses 12%. How much does he gain or lose in the whole transaction?

S.P. of the 1st chair = ₹500, Gain = 20%

∴ C.P. of the 1st chair

= profit-and-loss-q-59621.png

profit-and-loss-q-59614.png

S.P. of the 2nd chair = ₹500

Loss = 12%

∴ C.P. of the 2nd chair

= profit-and-loss-q-59608.png

=profit-and-loss-q-59602.pngprofit-and-loss-q-59596.png

Now S.P. of both the chairs = ₹1000

C.P. of both the chairs

profit-and-loss-q-59590.pngprofit-and-loss-q-59584.png

∴ Net gain = 1000 – profit-and-loss-q-59578.png

⇒ Gain % =profit-and-loss-q-59572.png

=profit-and-loss-q-59566.png

=profit-and-loss-q-59560.png (To one place of decimal)

A firm of ready-made garments makes both men’s and women’s shirts. Its average profit is 6% of the sales. Its profit in men’s shirts average 8% of the sales and women’s shirts comprise 60% of the output. The average profit per sale rupee in women shirts is

Women’s shirt comprise 60% of the output.

∴ Men’s shirts comprise (100 – 60)

= 40% of the out put.

∴ Average profit from men’s shirt

= 8% of 40 = 3.2 out of 40

Overall average profit

= 6 out of 100

∴ Average profit from women’s shirts

= 2.8 out of 60 i.e. 0.0466 out of each shirt.

A dealer sold a mixer for ₹420 at a loss of 12.5%. At what price should he have sold it to gain 12.5%.

(100 – loss) : S₁ : : (100 + gain) : S₂

∴ (100 – 12.5) : 420 : : (100 + 12.5) : S₂

87.5 : 420 : : 112.5 : S₂

⇒ 87.5 × S₂ = 420 × 112.5

⇒ profit-and-loss-q-59698.png

A cycle agent buys 30 bicycles, of which 8 are first grade and the rest are second grade for ₹3150. Find at what price he must sell the first grade bicycles so that if he sells the second grade bicycles at third quarter of the price, he may make a profit of 40% on both the type of transactions?

Let the price of first grade cycles be ₹x each and that of second grade cycles be ₹y each.

Now, 8x + 22y = 3150

Let he sells A grade cycle at a rate of ₹z per bicycle. Then,

profit-and-loss-q-59728.png

⇒ 32z + 66z = 17640

⇒ 98z = 17640 or z = 180

He should sell the first grade bicycles at a rate of ₹180.

John sold a fan at a loss of 7%. If he had sold it for ₹48 more, he would have gained 5%. Find the cost price of the fan.

Let C.P. = ₹x. Then,

S.P. profit-and-loss-q-59722.png

Also, profit-and-loss-q-59715.png

⇒ 93x + 4800 = 105x

⇒ 12x = 4800

⇒ x = ₹400

A man bought a horse and a carriage for ₹3000. He sold the horse at a gain of 20% and the carriage at a loss 10%, thereby gaining 2% on the whole. Find the cost of the horse.

Let the C.P. of horse = ₹x

Then the C.P. of carriage = ₹(3000 – x)

20% of x – 10% of (3000 – x) = 2% of 3000

profit-and-loss-q-60241.png

⇒ 2x – 3000 + x = 600

⇒ 3x = 3600

⇒ x = 1200

Two electronic musical instruments were purchased for ₹8000. The first was sold at a profit of 40% and the second at loss of 40%. If the sale price was the same in both the cases, what was the cost price of two electronic musical instruments?

Here, SP₁ = SP₂

⇒ 140 CP₁ = 60CP₂

⇒ profit-and-loss-q-60235.png

profit-and-loss-q-60229.png

and CP₂ = 8000 – 2400 = ₹5600

Now check your Result..

Your score is

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