QUANTS QUIZ PROFIT AND LOSS

1.    What profit/loss percent did Ravi earn if he purchased an item of Rs.5,600 and sold it at three-fourth of its cost price?
      (a) Loss of 20 percent
      (b) Gain of 25 percent
      (c) Neither gain or loss
      (d) Loss of 15 percent
      (e) None of these


2.    The owner of a cell phone shop charges his customer 23% more than the cost price. If a customer paid Rs.7,011 for a cell phone, then what was the cost price of the cell phone?
       (a) Rs.5,845
       (b) Rs.6,750
       (c) Rs.5,900
       (d) Rs.6,925
       (e) None of these

3.    The cost price of 16 articles is the same as the selling price of 12 articles. Find the loss/profit percentages.
      (a) 30%   
      (b) 32.50%  
      (c) 100/3%  
      (d) 40%  
      (e) None of these

4.    Raju purchased an item for Rs.4,500 and sold it at the gain of 15%. From that amount he purchased another item and sold it  at the loss of 10%. What is his overall gain/loss?
      (a) Gain of Rs.151.50   
      (b) Gain of Rs.157.50  
      (c) Loss of Rs.165
      (d) neither gain nor loss  
      (e) None of these

5.    A shopkeeper labeled the price of his articles so as to earn a profit of 30% on the cost price. He then sold the articles by offering a discount of 10% on the labeled price. What is the actual percent profit earned in the deal?
      (a) 18%  
      (b) 15%  
      (c) 20%   
      (d) Cannot be determined
      (e) None of these

6.    Profit earned by an organization is distributed among officers and clerks in the ratio of 5:3 respectively. If the number of officers is 45 and the number of clerks is 80 and the amount received by each officer is Rs.25,000/-, what was the total amount of profit earned?
      (a) Rs.22 lakhs   
      (b) Rs.18.25 lakhs 
      (c) Rs.18 lakhs  
      (d) Rs.23.25 lakhs  
      (e) None of these

7.    The cost of 8 gel pens and 12 ball pens is Rs.82. What would be the cost of 36 gel pens and 54 ball pens?
      (a) Rs.366  
      (b) Rs.365  
      (c) Rs.369  
      (d) Rs.364   
      (e) None of these

8.    A merchant sells his two cars – one at 15% loss and another at 12% profit. If the cost prices of the two cars are in the ratio of 1:2, what is his percent profit or loss?
      (a) 3% profit    
      (b) 2% loss  
      (c) 2% profit   
      (d) 1.2%loss   
      (e) None of these

9.    The profit earned after selling an article for Rs.675 is twice the loss incurred after selling the article for Rs.435. What is the cost price of the article?
      (a) Rs.450  
      (b) Rs.595  
      (c) Rs.400  
      (d) Rs.450   
      (e) None of these

10.  Mohan purchased 15 kgs of rice at the rate of Rs.26 per kg and 8 kgs of pulses at the rate of Rs.26 per kg. Wheat is the total amount that he paid to the shopkeeper?
      (a) Rs.598    
      (b) Rs.594  
      (c) Rs.596    
      (d) Rs. 595   
      (e) None of these

ANSWERS WITH EXPLANATION:

1. (e):
       C.P. = Rs.5600
      S.P. = Rs.5600x ¾ = Rs.4200
      Loss = Rs.5600-4200 = Rs.1400
      Loss percentage = 1400x100/5600 = 25%.

2. (e):
      123% of CP =SP
      Therefore, CP = Rs.7,011x100/123 = Rs.5700.

3. (c):
      The gain is 4 out of 12 articles.
      Therefore, gain percentage = 4x100 /12 = 100/3%.

4. (b):
      1st SP = Rs.4500 + 15% of 4500 = Rs.4500+Rs.675 = Rs.5175
      2nd CP = Rs.5175.
      2nd SP = Rs.5175 – 10% of 5175 = Rs.4657.50
      Overall gain = Rs.4657.50 – 4500 = Rs.157.50.

5. (e):
      Let the CP of the article = Rs.100.
      Then labeled price = Rs.130.
      SP   = Rs.130- 10% of 130 = Rs.130-13 = Rs.117.
      Gain = Rs.117 – Rs.100 = Rs.17.
      Therefore, gain/profit percent = 17%.

6. (c):
      The total amount distributed among 45 officers = Rs.45x25000 = Rs.1125000.
      Let the amount distributed to 80 clerks be ‘x’.
      Then   1125000/x = 5/3, therefore, x = Rs.675000.
      Therfore, the Total profit = Rs.1125000 + 675000 = Rs.18 lakhs.

7. (c):
      From the given statement we have,
      The cost of 4 gel pens + 6 ball pens = Rs.41.
      Multiplying each terms by 9, we get
      The cost of 36 gel pens + 54 ball pens = Rs.369.

8. (a):
      Given that CPs are in the ratio 1:2
      Therefore let the CPs be Rs.100 & Rs.200 respectively,
      1st SP = 100-15% of 100 = Rs.86.
      2nd SP = 200 + 12% of 200 = Rs.224.
      Total CP = Rs.300.  Total SP = 85+224 = Rs.309.
      Profit = Rs.309-300 = Rs.9.
      Profit percent = 9x100/300 = 3% profit.

9. (e):
      Let ‘x’ be the CP of the article.
      i.e. Rs.675-x = 2(x-435)
      675-x = 2x-870
      675+870 = 3x, therefore, x=1545/3  =Rs.515.

10. (a):
      Price of 15 kgs of rice at Rs.26/kg = 15x26 = Rs.390
      Price of 8 kgs of pulses at Rs.26/kg = 8x26 = Rs.208
      Therefore, Total amount = Rs.390+Rs.208 = Rs.598.