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Profit and Loss Exercise 2

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Profit, Loss and Discount 2

  • 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.

Five kg of butter was bought by a shopkeeper for ₹300. One kg becomes unsalable. He sells the remaining in such a way that on the whole he incurs a loss of 10%. At what price per kg was the butter sold?

Let S.P. = ₹x per kg

∴ S.P. of 4 kg = ₹4x

∴ profit-and-loss-q-60223.png

⇒ profit-and-loss-q-60217.png

A trader wants 10% profit on the selling price of a product whereas his expenses amount to 15% on sales. What should be his rate of mark up on an article costing ₹9?

Let the SP of the article be ₹x

Expenses = 15% of x = ₹0.15x

Profit = 10% of x = ₹0.10x

CP = ₹9 (given)

Therefore, 9 + 0.15x + 0.1x = x

⇒ x = 12

∴ % increase for marked price

= profit-and-loss-q-60262.png

= profit-and-loss-q-60256.png

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

Real profit % is the profit % on C.P.

Real profit %

profit-and-loss-q-60281.png

profit-and-loss-q-60275.png

A man sells his car for ₹5000 and loses something. Had he sold it for ₹5600, his gain would have been double the former loss. Find the cost price.

Let his loss = ₹x. Then,

C.P. = 5000 + x = 5600 – 2x

⇒ 3x = 600 ⇒ x = 200

∴ C.P. =5000 + 200 = ₹5200

A manufacturer of a certain item can sell all he can produce at the selling price of ₹60 each. It costs him ₹40 in materials and labour to produce each item and he has overhead expenses of ₹3,000 per week in order to operate that plant. The number of units he should produce and sell in order to make a profit of at least ₹1,000 per week is

Let x be no. of units.

∴ Profit per unit x = (60 – 40) x = 20x.

Now, additional cost = 3000

∴ To make a profit of at least ₹1000

we have, 20 x – 3000 = 1000

⇒ 20x = 4000

⇒ x = 200.

A milkman buys milk contained in 10 vessels of equal size. If he sells his milk at ₹5 a litre, he loses ₹200; if he sells it at ₹6 a litre, he would gain ₹150 on the whole. Find the number of litres contained in each vessel.

Difference in rupees by increasing the price by rupees 1 is ₹350.

That means that the quantity of milk is 350 litre.

Now, 10 equal containers will become 35 litre per container.

A firm of readymade garments makes both men’s and women’s shirts. Its profit average is 6% of sales. Its profits in men’s shirts average 8% of sales and women’s shirts comprise 60% of output. The average profit per sales rupee in women’s shirts is :

Given total profit is 6%

As given the out put of women shirt is 60%

∴ Mens output would be 40%

∴ Ratio of the profit of the women’s shirt to men’s shirt = 3 : 2

∴ Contribution of men’s 2/5 whereas women’s 3/5

Let Average profit in women’s shirt be x.

Given, Average profit in Men’s shirt is 8%

∴ profit-and-loss-q-60884.png

⇒ x = 4.66

∴ Profit per sales of rupee is 0.0466

The price of a jewel, passing through three hands, rises on the whole by 65%. If the first and the second sellers earned 20% and 25% profit respectively, find the percentage profit earned by the third seller.

Let the original price of the jewel be ₹P and let the profit earned by the third seller be x%.

Then, (100 + x)% of 125% of 120% of P = 165% of P

profit-and-loss-q-60878.png

profit-and-loss-q-60872.png

A man sold his book for ₹891, thereby gaining ¹⁄₁₀ of its cost price. Find his cost price.

Let C. P. = ₹x,

then profit = S.P. – C. P.

profit-and-loss-q-60866.png

profit-and-loss-q-60859.png

A man sells an article at 5% profit. If he had bought it at 5% less and sold it for Re 1 less, he would have gained 10%. The cost price of the article is :

Let the CP of the article be ₹x. Then, SP

= ₹profit-and-loss-q-60755.png

Now, new CP = ₹profit-and-loss-q-60749.png

and new SP = profit-and-loss-q-60743.png

According to the question,

profit-and-loss-q-60737.png

∴ x = ₹200

A manufacturer sells goods to an agent at a profit of 20%. The agent’s wholesale price to a shopkeeper is at a profit of 10% and the shopkeeper retails his goods at a profit of 12%. Find the retailer’s price of an article which had cost the manufacturer ₹25.

Retailer’s price

= 112 % of 110% of (120 % of 25)

profit-and-loss-q-60731.png

A business man sells lot of shirts at a profit of 12½% and invests the proceeds to buy lot of pants, which he sells at a profit of 20%. If he makes a net profit of ₹2700, the cost of the shirts was

Let C.P. = ₹x

profit-and-loss-q-60725.png

⇒ profit-and-loss-q-60719.png

⇒ x = 2000

A manufacturer sells a pair of glasses to a wholesale dealer at a profit of 18%. The wholesaler sells the same to a retailer at a profit of 20%. The retailer in turn sells them to a customer for ₹30.09, thereby earning a profit of 25%. The cost price of the manufacturer is

Let the C.P. for the manufacturer be ₹100.

Then, C.P. for the wholesaler = ₹118

C.P. for the retailer

= 118 + 20% of 118

= ₹141.60

C.P. for the customer

= 141.60 + 141.60 × profit-and-loss-q-60707.png

= ₹177

∴ If the C.P. for the customer is ₹177, then the C.P. for the manufacturer is ₹100.

If the C.P. for the customer is ₹30.09, then the C.P. for manufacturer is

profit-and-loss-q-60701.png= ₹17

A shopkeeper sells a pair of sunglasses at a profit of 25%. If he has bought it at 25% less and sold it for ₹10 less, then he would have gained 40%. Determine the cost price of the pair of sunglasses.

Let the CP of the sunglasses be ₹100.

Now, SP = ₹125,

New CP = ₹75,

New SP = 75 × 1.4 = ₹105

Thus, if he sells for ₹(125 – 105) = 20 less, then CP = 100

If he sells for ₹10 less, then

profit-and-loss-q-60693.png

If by selling twelve note-books, the seller earns profit equal to the selling price of two note-books, what is his percentage profit?

Percentage profit

= profit-and-loss-q-59125.png

A man sold 10 eggs for 5 rupees and gained 20%.How many eggs did he buy for 5 rupees?

S.P. for 1 egg = ⁵⁄₁₀ = ₹½

∴ C. P. for 1 egg

profit-and-loss-q-59786.png

⇒ He bought 12 eggs for 5 rupees.

A person sells 36 oranges per rupee and suffers a loss of 4%. Find how many oranges per rupee to be sold to have a gain of 8%?

Let he sells x oranges per rupee.

profit-and-loss-q-59780.png

⇒ profit-and-loss-q-59774.png

He sells 32 oranges per rupee.

Coconuts were purchased at ₹150 per hundred and sold at ₹2 per coconut. If 2000 coconuts were sold, what was the total profit made?

C.P. for one coconut

profit-and-loss-q-59768.png

S.P. for one coconut = ₹2

Profit on one coconut

profit-and-loss-q-59762.png

∴ Profit on 2000 coconut

profit-and-loss-q-59755.png

If 15 oranges are bought for a rupee, how many must be sold for a rupee to gain 25%?

C.P. for one orange = ₹¹⁄₁₅

Then S.P. profit-and-loss-q-59823.png

Hence S.P. for one orange = ₹¹⁄₁₂

∴ 12 oranges must be sold for a rupee to gain 25%.

The cost price of 20 articles is equal to the selling price of 25 articles. The loss percent in the transaction is

Let C.P. of 1 article = Re 1,

then C.P. of 25 articles = ₹25

and S.P. of 25 articles = ₹20

∴ loss % profit-and-loss-q-60342.png

By selling 66 metres of cloth a person gains the cost price of 22 metres. Find the gain per cent.

Let C.P. of one metre of cloth =₹1,

then C.P. of 66 metres of cloth = ₹66

Gain = C.P. of 22 metres = ₹22,

% gain profit-and-loss-q-60336.png

Shortcut method :

If on selling ‘x’ articles, a man gains equal to the C.P. of ‘y’ articles, then

% gain profit-and-loss-q-60330.png

profit-and-loss-q-60323.png

Now check your Result..

Your score is

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