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Quant – Profit & Loss – Set 11
Read the following instructions carefully
- The test contains 10 questions.
- Each question has 4 options, of which only one is correct.
- You have to finish the test in 8 minutes.
- You are awarded 1 mark for each correct answer, and 0.25 marks are deducted for each wrong answer.
- There is no negative marking for questions you do not attempt.
- You may pause the test at any time and resume where you left off.
- Your marks, the correct answers and an explanation for every question are shown as soon as you submit.
- You can take this test as many times as you like. A fresh set is drawn each time you reload the page.
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Review this set's questions and answers (opens after you submit the test)
This free practice set from AndamanJobs has 10 questions to be solved in 8 minutes. Every question is listed below with four options. Open Show answer and explanation under a question to see the correct option and why it is correct. Try the timed test above first, then use this list to revise the questions you got wrong.
- The marked price of a watch is Rs.1000. A retailer buys it at Rs.810 after getting two successive discounts of 10% and another rate which is illegible. What is the second discount rate ?
- A. 6.5%
- B. 8%
- C. 15%
- D. 10%
Show answer and explanation
Answer: D. 10%
After the first discount: 1,000 × 0.9 = 900. 810/900 = 0.9, so the second discount is 10%.
- The marked price of an article is Rs 200. A discount of 12 1/2 % is allowed on the marked price and a profit of 25% is made. The cost price of the article is:
- A. ₹120
- B. ₹200
- C. ₹175
- D. ₹140
Show answer and explanation
Answer: D. ₹140
SP = 200 × 0.875 = 175 (12 1/2% off). SP = 1.25 CP, so CP = 175/1.25 = Rs 140.
- A trader marked the selling price of an article at 10% above the cost price. At the time of selling he allows a certain discount and suffers a loss of 1%. He allowed the discount of :
- A. 9%
- B. 10.5%
- C. 11%
- D. 10%
Show answer and explanation
Answer: D. 10%
MP = 1.1 C and SP = 0.99 C. Discount = 0.11 C/1.1 C = 10%.
- A sells a scooter priced ₹36,000. He gives a discount of 8% on the first ₹20,000 and 5% on the next ₹10,000. How much discount can he afford on the remaining ₹6,000 if he is to get as much as when 7% discount is allowed on the total ?
- A. 8%
- B. 7%
- C. 6%
- D. 5%
Show answer and explanation
Answer: B. 7%
Total discount at 7% of 36,000 = 2,520. Given: 1,600 + 500 = 2,100. Remaining 420 on 6,000 = 7%.
- A trader marked his goods at 20% above the cost price. He sold half the stock at the marked price. one quarter at a discount of 20% on the marked price and the rest at a discount of 40% on the marked price. His total gain is :
- A. 4.5%
- B. 2%
- C. 15%
- D. 13.5%
Show answer and explanation
Answer: B. 2%
Take 4 items costing 100 each; MP = 120. 2 sold at 120 = 240, 1 at 96, 1 at 72. Total = 408 against 400, a gain of 2%.
- A shopkeeper gives two successive discounts on an article marked ₹450. The first discount given is 10 percent . If the customer pays ₹344.25 for the article, the second discount given is :
- A. 12 percent
- B. 15 percent
- C. 14 percent
- D. 10 percent
Show answer and explanation
Answer: B. 15 percent
After the first discount: 450 × 0.9 = 405. 344.25/405 = 0.85, so the second discount is 15%.
- An article listed at ₹800 is sold at successive discounts of 25% and 15%. The buyer desires to sell it off at a profit of 20% after allowing a 10% discount. What would be his list price?
- A. ₹620
- B. ₹640
- C. ₹600
- D. ₹680
Show answer and explanation
Answer: D. ₹680
Buyer pays 800 × 0.75 × 0.85 = 510. For a 20% profit he needs SP = 612, which is 90% of the list price. List price = Rs 680.
- The marked price of an electric iron is ₹300. The shopkeeper allows a discount of 12% and still gains 10%. If no discount is allowed, his gain per cent would have been :
- A. 27%
- B. 20%
- C. 30%
- D. 25%
Show answer and explanation
Answer: D. 25%
SP = 300 × 0.88 = 264, and CP = 264/1.1 = 240. Without a discount the gain = 60/240 = 25%.
- The marked price of a shirt and trousers are in the ratio 1 : 2. The shopkeeper gives a 40% discount on the shirt. If the total discount on the shirt and trousers is 30%, the discount offered on the trousers is :
- A. 15%
- B. 30%
- C. 20%
- D. 25%
Show answer and explanation
Answer: D. 25%
Let the shirt cost 1 part and trousers 2 parts (marked). Total discount = 0.3 × 3 = 0.9. Shirt discount = 0.4, so trousers discount = 0.5 on 2 parts = 25%.
- An article is listed at ₹920. A customer pays ₹742.90 for it after getting two successive discounts. If the rate of first discount is 15%, the rate of 2nd discount is :
- A. 5%
- B. 12%
- C. 8%
- D. 3%
Show answer and explanation
Answer: A. 5%
After the first discount: 920 × 0.85 = 782. 742.90/782 = 0.95, so the second discount is 5%.