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Quant – Profit & Loss – Set 2
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.
- If the selling price of an article is 1 3/5 times its cost price, the profit per cent on it is:
- A. 160%
- B. 40%
- C. 120%
- D. 60%
Show answer and explanation
Answer: D. 60%
SP = 1 3/5 CP = 1.6 CP, so profit is 60%.
- 100 oranges are bought for Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is :
- A. 15% loss
- B. 14 2/7% loss
- C. 14 2/7% profit
- D. 15% gain
Show answer and explanation
Answer: C. 14 2/7% profit
SP per orange = 48/12 = Rs 4, so SP of 100 = 400. Profit = 50 on CP 350 = 14 2/7%.
- The cost price of two dozen bananas is Rs. 32. After selling 18 bananas at the rate of Rs. 12 per dozen, the shopkeeper reduced the price to rate as Rs. 4 per dozen. The percent loss is:
- A. 36.5%
- B. 32.4%
- C. 25.2%
- D. 37.5 %
Show answer and explanation
Answer: D. 37.5 %
CP of 24 bananas = 32. SP: 18 bananas at Rs 12 per dozen = 18, and 6 bananas at Rs 4 per dozen = 2. Total SP = 20. Loss = 12/32 = 37.5%.
- By selling an article at 2/3 of the marked price, there is a loss of 10%. The profit percent when the article is sold at the marked price is:
- A. 20%
- B. 40%
- C. 30%
- D. 35%
Show answer and explanation
Answer: D. 35%
SP = 2/3 MP = 0.9 CP, so MP = 1.35 CP. Profit at marked price = 35%.
- A trader sells two articles at Rs. 6000 each. He makes a profit of 20% in the sale of the first article and a loss of 20% in the sale of the second article. What is his net gain or loss per cent?
- A. 5% gain
- B. 5% loss
- C. 4% loss
- D. 4% gain
Show answer and explanation
Answer: C. 4% loss
Equal SP with a 20% gain and a 20% loss gives a loss of 20²/100 = 4%.
- A television and a refrigerator were sold for Rs. 12,000 each. If the television was sold at a loss of 20% of the cost and the refrigerator at a gain of 20% of the cost, the entire transaction resulted in:
- A. Loss of Rs. 1,000
- B. Loss of Rs. 1,200
- C. Gain of Rs. 1,000
- D. No loss or gain
Show answer and explanation
Answer: A. Loss of Rs. 1,000
CP of TV = 12,000/0.8 = 15,000. CP of fridge = 12,000/1.2 = 10,000. Total CP = 25,000, total SP = 24,000. Loss = Rs 1,000.
- A reduction of 20% in the price of salt enabled a purchaser to obtain 4 kg. more for Rs. 100. The reduced price of salt per kg is :
- A. Rs. 4
- B. Rs. 6.25
- C. Rs. 5
- D. Rs. 6.50
Show answer and explanation
Answer: C. Rs. 5
Let the old price be p. 100/(0.8p) - 100/p = 4 gives 25/p = 4, so p = 6.25. Reduced price = 0.8 × 6.25 = Rs 5.
- A shopkeeper sells an article at a loss of 12 1/2%. Had he sold it for Rs 51.80 more, he would have earned a profit of 6%. The cost price of the article is:
- A. Rs. 300
- B. Rs. 400
- C. Rs. 280
- D. Rs. 380
Show answer and explanation
Answer: C. Rs. 280
The difference between a 6% gain and a 12 1/2% loss is 18.5% of CP = 51.80. So CP = 51.80 ÷ 0.185 = Rs 280.
- A person sells a table at a profit of 10%. If he had bought the table at 5% less cost and sold for Rs. 80 more, he would have gained 20%. The cost price of the table is:
- A. Rs. 2,500
- B. Rs. 2,000
- C. Rs. 200
- D. Rs. 3,200
Show answer and explanation
Answer: B. Rs. 2,000
Let CP = x. New CP = 0.95x, and a 20% gain gives 1.14x. Old SP = 1.1x. 1.14x - 1.1x = 80, so 0.04x = 80 and x = Rs 2,000.
- A person bought some articles at the rate of 5 per rupee and the same number at the rate of 4 per rupee. He mixed both the types and sold at the rate of 9 for 2 rupees. In this business he suffered a loss of Rs. 3. The total number of articles bought by him was:
- A. 545
- B. 540
- C. 1090
- D. 1080
Show answer and explanation
Answer: D. 1080
Let x articles of each kind. CP = x/5 + x/4 = 9x/20. SP = 2x × 2/9 = 4x/9. Loss = 9x/20 - 4x/9 = x/180 = 3, so x = 540 and the total is 1,080.