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Quant – Profit & Loss – Set 14
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.
- What single discount is equal to successive discounts of 40% and 10%?
- A. 52%
- B. 46%
- C. 42%
- D. 50%
Show answer and explanation
Answer: B. 46%
Net factor = 60/100 × 90/100 = 54%. Single discount = 100 - 54 = 46%.
- A shopkeeper marks his goods 25% above the cost price and then allows a discount of 10%. What is his profit percent?
- A. 12 1/2%
- B. 14 1/2%
- C. 18 1/2%
- D. 10 1/2%
Show answer and explanation
Answer: A. 12 1/2%
Take CP = 100. MP = 125. SP = 125 × 90/100 = 112 1/2. Profit = 12 1/2%.
- If the cost price of 18 articles is equal to the selling price of 15 articles, find the gain percent.
- A. 25%
- B. 20%
- C. 15%
- D. 35%
Show answer and explanation
Answer: B. 20%
18 CP = 15 SP, so SP/CP = 18/15. Gain = (18 - 15)/15 × 100 = 20%.
- A man sells two articles at Rs 1200 each. On one he gains 40% and on the other he loses 40%. What is his overall loss percent?
- A. 13%
- B. 17%
- C. 15%
- D. 16%
Show answer and explanation
Answer: D. 16%
With equal selling prices and equal gain and loss of x%, the loss is x²/100 = 40²/100 = 16%.
- Ravi buys an old scooter for Rs 12,000 and spends Rs 2000 on its repairs. He sells it for Rs 15,400. Find his profit percent.
- A. 30%
- B. 15%
- C. 20%
- D. 10%
Show answer and explanation
Answer: D. 10%
Total cost = 12,000 + 2000 = 14,000. Profit = 15,400 - 14,000 = 1400. Profit % = 1400/14,000 × 100 = 10%.
- An article costs Rs 2500. At what price must it be sold to earn a profit of 20%?
- A. Rs 3900
- B. Rs 3300
- C. Rs 3000
- D. Rs 2700
Show answer and explanation
Answer: C. Rs 3000
SP = 2500 × 120/100 = Rs 3000.
- An article is sold for Rs 450 at a loss of 10%. What is its cost price?
- A. Rs 500
- B. Rs 350
- C. Rs 450
- D. Rs 650
Show answer and explanation
Answer: A. Rs 500
SP = 90% of CP, so CP = 450 × 100/90 = Rs 500.
- A trader buys an article for Rs 1000 and sells it for Rs 1600. What is his profit percent?
- A. 60%
- B. 75%
- C. 55%
- D. 70%
Show answer and explanation
Answer: A. 60%
Profit = 1600 - 1000 = 600. Profit % = 600/1000 × 100 = 60%.
- The marked price of a shirt is Rs 1000. A discount of 40% is given. What is the selling price?
- A. Rs 780
- B. Rs 720
- C. Rs 540
- D. Rs 600
Show answer and explanation
Answer: D. Rs 600
SP = 1000 × 60/100 = Rs 600.
- What single discount is equal to successive discounts of 15% and 30%?
- A. 40 1/2%
- B. 38 1/2%
- C. 42 1/2%
- D. 34 1/2%
Show answer and explanation
Answer: A. 40 1/2%
Net factor = 85/100 × 70/100 = 59 1/2%. Single discount = 100 - 59 1/2 = 40 1/2%.