Profit N Loss Quiz 1

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Profit and Loss Questions for Bank Clerk Pre Exams – Profit and

Loss Quiz at Smartkeeda.


Profit and Loss Quiz 1
Directions: Kindly study the following Questions carefully and choose the right answer:
1. A sold an article with 10% loss on the cost price. He bought the article at a discount of 20%
on the labelled price. What would have been the percentage loss had he bought it at the
labelled price?

A. 34% B. 18% C. Data Inadequate


D. 28% E. 16%

2. The owner of a cell phone shop charges his customer 28% more than the cost price. If a
customer paid Rs 8,960 for the cell phone, then what was the cost price of the cell phone?

A. Rs 7800 B. Rs 7100 C. Rs 6900


D. Rs 6850 E. None of these

3. A sells an article which cost him Rs. 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?

A. Rs. 472 B. Rs. 476 C. Rs. 528


D. Rs. 532 E. None of these

4. By selling an article for Rs. 480 a person lost 20%. For what should he sell it to make a
profit of 20%?

A. Rs. 800 B. Rs. 760 C. Rs. 720


D. Rs. 680 E. None of these

5. Deepa bought a calculator at 30% discount on the listed price. Had she not got the
discount, she would have paid Rs. 82.50 extra. At what price did she buy the calculator?

A. Rs. 192.50 B. Rs. 275 C. Rs. 117.85


D. Can't be determined E. None of these

6. A trader buys some goods for Rs. 150. If the overhead expenses be 12% of the cost price,
at what price should it be sold to earn 10%?

A. Rs. 184.80 B. Rs. 185.80 C. Rs. 187.8


D. Rs. 188.80 E. None of these
7. Two-thirds of a consignment was sold at a profit of 6% while the rest at a loss of 3%. If
there was an over all profit of Rs. 1080, the value of the consignment was

A. Rs. 25000 B. Rs. 40000 C. Rs. 35000


D. Rs. 36000 E. None of these

8. The profit earned after selling an article for Rs. 625 is same as the loss incurred after
selling the article for Rs. 435. The cost price of the article is

A. Rs. 520 B. Rs. 530 C. Rs. 540


D. Rs. 550 E. None of these

9. The profit earned after selling an article for Rs. 650 is same as the loss incurred after
selling the article for Rs. 426. Find the half of the 50% of the cost price.

A. Rs. 134.50 B. Rs. 135.50 C. Rs. 146.50


D. Rs. 125.50 E. None of these

10. A merchant has 1000 kg of sugar, part of which he sells at 8% profit and the rest at 18%
profit. He gain 14% on the whole. The quantity sold at 18% profit is

A. 500 kg B. 600 kg C. 400 kg


D. 640 kg E. None of these
Correct Answers:

1 2 3 4 5 6 7 8 9 10
D E C C A A D B A B

Explanations:

1. Let the CP to 'A' = 100


After allowing a discount of 10% the SP will be = 90
As per the question,
'A' bought the article at 20% discount on Labelled Price. Therefore, the eq. will become like
80
⇒ of Labelled price = 100
100
⇒ ∴ Labelled Price = 125
Now, loss in value if the item was bought at LP = LP – SP = 125 – 90 = 35/-
35
Loss % = × 100 = 28%.
125
Hence, option D is correct.

2. Let the cost price of the cell phone be x, then,


128% of x = 8960

128
x× = 8960
100

8960 × 100
or, x = = Rs. 7000
128

Hence, option E is correct.

3. CP for B = 120% of 400

120
= × 400 = Rs. 480
100

CP for C = 110% of 480

110
= × 480 = Rs. 528
100

Hence, option C is correct.


4. Method I:

100 + Gain%
New SP = × Old SP
100 – Loss%

G% = L% = 20%, Old SP = 480

100 + 20 120
= × 480 = × 480
100 – 20 80

New SP = 120 × 6 = 720.


______________________________________
Method II:
Let the cost price of the article be x
According to the question, we get
80% of x = 480
480
x= × 100 = 600
80
Reqd profit % = 120% of 600 = 720.
Hence, option C is correct.

5. Let the original price be x, then


30% of x = 82.50

82.50
x= × 100 = Rs. 275
30
Deepa bought calculator in 275 – 82.50 = Rs. 192.50
Hence, option A is correct.

6. Total CP = (CP + Overhead expenses)


= Rs. (150 + 12% of 150)

12
= Rs.(150 + × 150) = Rs. 168
100
Given that gain = 10%

110
∴ SP = Rs.( × 168) = Rs. 184.80
100
Hence, option A is correct.

7. Let the value of consignment = x, then

2 106 1 97
SP = Rs.( × x × + ×x× )
3 100 3 100

212x 97x 309x


= Rs.( + ) = Rs.( )
300 300 300
Now, according to the question,
309x 9x
– x = 1080 ⇒ = 1080
300 300

1080 × 300
∴ x= = Rs. 36000
9
Hence, option D is correct.

8. Let the CP be x
According to the question,
625 – x = x – 425
⇒ 2x = 1060
⇒ x = Rs. 530.
Hence, option B is correct.

9. Let CP = x
According to the question,
650 – x = x – 426
⇒ 2x = 650 + 426 = 1076
⇒ x = Rs. 538

1 1 50
∴ of 50% of 538 = × × 538 = Rs. 134.50
2 2 100
Hence, option A is correct.

10. Let the sugar sold at 8% gain = x


∴ Sugar sold at 18% gain = (1000 – x)
Let CP of sugar = Rs. y per kg
Total CP = Rs. 1000y

108 118 114


∴ ( × xy) + (1000 – x)y = × 1000y
100 100 100

⇒ 108xy + 118000y – 118xy = 114000y


⇒ 10x = 4000
∴ x = 400
∴ Quantity sold at 18% profit = (1000 – 400) kg = 600 kg
Hence, option B is correct.

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