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Quant – Profit & Loss – Set 12
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.
- An article is sold at a discount of 20% and an additional discount of 30% is allowed on cash payment. If Vidya purchased the article by paying ₹2240 in cash, the marked price of the article was :
- A. ₹4000
- B. ₹4400
- C. ₹4368
- D. ₹4480
Show answer and explanation
Answer: A. ₹4000
Net factor = 0.8 × 0.7 = 0.56. MP = 2,240/0.56 = Rs 4,000.
- A shopkeeper marks the price of an item keeping 20% profit. If he offers a discount of 12 1/2 % on the marked price, his gain percent will be:
- A. 4.5%
- B. 5%
- C. 7.5%
- D. 8%
Show answer and explanation
Answer: B. 5%
MP = 1.2 CP. SP = 1.2 CP × 0.875 = 1.05 CP. Gain = 5%.
- In a shop shirts are usually sold at 40% above the cost price. During a sale, the shopkeeper offers a discount of 10% off the usual selling price. If he manages to sell 72 shirts for ₹13,608 then his cost price per shirt, (in ₹) is :
- A. 150
- B. 149
- C. 125
- D. 210
Show answer and explanation
Answer: A. 150
SP per shirt = 13,608/72 = 189 = 1.4 C × 0.9 = 1.26 C. C = Rs 150.
- If an electricity bill is paid before the due date, one gets a reduction of 4% on the amount of the bill. By paying the bill before the due date a person got a reduction of ₹13. The amount of his electricity bill was :
- A. ₹225
- B. ₹125
- C. ₹325
- D. ₹425
Show answer and explanation
Answer: C. ₹325
4% of the bill = Rs 13, so the bill = Rs 325.
- The marked price of a watch is ₹1,600. The shopkeeper gives successive discounts of 10% and x% to the customer. If the customer pays ₹1,224 for the watch, the value of x is :
- A. 5%
- B. 20%
- C. 10%
- D. 15%
Show answer and explanation
Answer: D. 15%
After 10%: 1,600 × 0.9 = 1,440. 1,224/1,440 = 0.85, so x = 15%.
- In a shop, shirts are usually sold at 40% above the cost price. During a sale, the shopkeeper offers a discount of 10% off the usual selling price. If he manages to sell 216 shirts for ₹13,608, then his cost price per shirt (in ₹) is :
- A. 50
- B. 149
- C. 210
- D. 125
Show answer and explanation
Answer: A. 50
SP per shirt = 13,608/216 = 63 = 1.4 C × 0.9 = 1.26 C. C = Rs 50.
- A merchant purchases a wrist watch for ₹450 and fixes its list price in such a way that after allowing a discount of 10%, he earns a profit of 20% . Find the list price of the watch.
- A. ₹600
- B. ₹540
- C. ₹450
- D. ₹480
Show answer and explanation
Answer: A. ₹600
SP for 20% profit = 450 × 1.2 = 540. This is 90% of the list price, so the list price = 540/0.9 = Rs 600.
- The cost price of an article is 64% of the marked price. The gain percentage after allowing a discount of 12% on the marked price :
- A. 48%
- B. 37.5%
- C. 50.5%
- D. 52%
Show answer and explanation
Answer: B. 37.5%
Let MP = 100. CP = 64, SP = 88. Gain = 24/64 = 37.5%.
- While selling a watch, a shopkeeper gives a discount of 5%. If he gives a discount of 6%, he earns ₹15 less as profit. What is the marked price of the watch ?
- A. ₹1500
- B. ₹1400
- C. ₹750
- D. ₹1250
Show answer and explanation
Answer: A. ₹1500
The 1% difference in discount equals Rs 15, so the marked price = Rs 1,500.
- A shopkeeper lists the price of an article as ₹500. But he gives a certain discount which allows the buyer to pay ₹500 for the article including 10% sales tax. The rate of discount is :
- A. 10 1/11 %
- B. 11%
- C. 10%
- D. 9 1/11 %
Show answer and explanation
Answer: D. 9 1/11 %
Selling price before tax s: 1.1s = 500, so s = 454.55. Discount = (500 - 454.55)/500 = 9 1/11%.