Quiz: Profit and Loss Set 7

  • A vendor fixed Selling Price of a product at 40% above the cost price. He sells half the stock at this price, one-quarter of that stock at a discount of 25% on the original selling price and rest at a discount of 30% on the original selling price. Find the gain percentage all together?
    A. 20.75%
    B. 15.75%
    C. 14.75%
    D. 16.75%
    E. None of the Above

    Answer – A. 20.75%
    Explanation :
    Let CP = 100;
    marked price=140;
    Revenue = [(1/2)*140 + (1/4)*0.75*140 + (1/4)*0.7*140] = 70 + 26.25 + 24.5 = 120.75;
    % profit = 20.75/100 = 20.75%
  • A vendor sold two magazines namely A and B. He sold magazine ‘A’ at a loss of 20% and magazine ‘B’ at a profit of 25% but finally there is no loss or no gain. If the total Selling price of both magazines is Rs.450. Find the difference between the Cost Price of Magazine ‘A’ and ‘B’?
    A. Rs. 60
    B. Rs. 50
    C. Rs. 75
    D. Rs. 85
    E. None of the Above

    Answer – B. Rs. 50
    Explanation :
    20% of x = 25% of y ; x + y = 450
    x/y = 5/4
    Difference = Rs.50
  • Deepak found that he had made a loss of 10% while selling his smartphone. He also found that had he sold it for Rs.50 more, he would have made a profit of 5%. The initial loss was what percentage of the profit earned, had he sold the smartphone for a 5% profit ?
    A. 100%
    B. 200%
    C. 75%
    D. 85%
    E. None of the Above

    Answer – B. 200%
    Explanation :
    Profit= 5%
    5% of CP = Rs. 50
    CP = Rs. 1000
    Now, Loss% = 10%
    Loss =Rs. 100
    Required % = (100/50)*100 = 200%
  • Mukesh and Rakesh wants to make 25% profit on selling good. Mukesh calculating it on cost price while Rakesh on the selling price, the difference in the profits earned by both being Rs. 100 and selling price being the same in both the cases. Find out the Selling Price of both goods?
    A. Rs.1500
    B. Rs.1600
    C. Rs.1200
    D. Rs.2000
    E. None of these

    Answer – D. Rs.2000
    Explanation :
    Profit = 25% = 1/4
    Let CP of Mukesh’s article = 4x & Profit = x; SP = 4x + x = 5x
    Let CP of Rakesh’s article = 4y = 5x —(1)[Selling price of Mukesh’s article = Cost Price of Rakesh’s article] x – y = 100—-(2)
    y = 500
    Selling price = 5x = 4y = 2000
  • Ananya buys two bangle set for a total cost of Rs. 900. By selling one bangle set for 4/5 of its cost and the other for 5/4 of its cost, She makes a profit of Rs. 90 on the whole transaction. The cost of the lower priced bangle set is?
    A. Rs. 360
    B. Rs. 400
    C. Rs. 420
    D. Rs. 300
    E. None of these

    Answer – D. Rs. 300
    Explanation :
    CP of 1st bangle set = x
    CP of 2nd bangle set = 900-x
    SP of 1st bangle set = 4x/5
    SP of 2nd bangle set=(900-X)5/4
    Profit=SP-CP
    90=4x/5+(900-X)5/4-900
    X = 300 = Lower priced bangle set = Rs.300
  • A book shop owner wants to sell his old edition books(Total No: 40). If he sells them at Rs. 148 per book, he would be able to sell all the books. But for every Rs.8 increase in price of the book, he will be left with one extra unsold book. Assuming that unsold books remain with him. If he wants to maximise his profit, then how many unsold books remain with him?
    A. 12
    B. 11
    C. 10
    D. 9
    E. 8

    Answer – B. 11
    Explanation :
    From options
    unsold books = 12 -> (12*8 = 96); CP per book = 148 + 96 = 244 ; Revenue = 244 * 28 = 6832
    unsold books = 11 -> (11*8 = 88); CP per book = 148 + 88 = 236 ; Revenue = 236 * 29 = 6844
    unsold books = 10 -> (10*8 = 80); CP per book = 148 + 80 = 228 ; Revenue = 228 * 30 = 6840
  • Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?
    A. 350
    B. 370
    C. 375
    D. 325
    E. None of the Above

    Answer – D. 325
    Explanation :
    Selling price of an article = Rs 500; Let the cost price of the article = x
    Profit = Rs (500 – x)
    Selling price of the article = Rs 225; Loss = Rs (x – 225)
    ⇒ (500 – x) = 10 (x – 225)
    ⇒ 500 – x = 10x – 2250
    ⇒ 11x = 2750
    ⇒ x = 250
    The cost prise of the article = Rs 250; Profit = 30%
    Selling price = 250 x (100 + 130) / 100 = 325
  • A Vendor sells apples at a certain price in order to make a profit of 30%. If he charges Rs. 1.5 higher per apple he would get a profit of 60%. Find the original price at which he sold an apple?
    A. Rs. 3.75
    B. Rs. 4.25
    C. Rs. 4.85
    D. Rs. 3.25
    E. None of these

    Answer – A. Rs. 3.75
    Explanation :
    CP of an apple = Rs. x
    Profit = 30%
    SP = Rs. 1.30x
    If SP = x + Rs.1.5
    Profit = 60%
    1.60x = x + 1.5 or x = Rs. 2.5
    Hence, Original SP = Rs 1.5x = Rs. 3.75
  • Aaradhana buys rice at Rs.10/kg and sell it in order to earn a profit of 40%. However, her faulty balance shows 1000gm when it is actually 800gm. What is her actual gain percentage?
    A. 35%
    B. 70%
    C. 75%
    D. 25%
    E. None of the Above

    Answer – C. 75%
    Explanation :
    Let price of 1 kg rice = Rs.10.
    CP of 800 gm rice = Rs.8.
    She wants to earn a profit of 40% on per Kg
    SP = 10 + 40% of 10 = Rs. 14 per kg.
    Faulty balance shows 800 gm = 1000 gm (1 kg)
    She sells 800 gm for Rs.14.
    Profit = 14 – 8 = Rs. 6.
    Profit(%) = 6/8 * 100 = 75%.
  • Mr. Richard bought two pens which together cost him Rs.440. He sold one of the watches at a loss of 20% and the other one at a gain of 40%. The selling price of both watches are same. Then find out the cost price of both watches.
    A. Rs.150 and Rs.290
    B. Rs.140 and Rs.300
    C. Rs.170 and Rs.270
    D. Rs.160 and Rs.280
    E. None of the Above

    Answer – D. Rs.160 and Rs.280
    Explanation :
    80/100 * x = 140/100 * y
    x = 7/4y
    x + y = 440
    7/4 y + y = 440
    y = 160 ; x = 280

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