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Quant – Profit & Loss – Set 3
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.
- By selling an article for Rs. 69, there is a loss of 8%, when the article is sold for Rs. 78 the gain or loss per cent is :
- A. 40% gain
- B. 4% loss
- C. 4% gain
- D. neither loss nor gain
Show answer and explanation
Answer: C. 4% gain
CP = 69/0.92 = Rs 75. At Rs 78 the gain is 3/75 = 4%.
- The marked price of an article is 10% higher than cost price. A discount of 10% is given on marked price. In this kind of sale, the seller bears :
- A. no loss no gain
- B. a gain of 1%
- C. a loss of 1%
- D. a loss of 5%
Show answer and explanation
Answer: C. a loss of 1%
SP = 1.10 × 0.90 = 0.99 of CP, so the seller bears a loss of 1%.
- A man had 100 kgs of sugar, part of which he sold at 7% profit and the rest at 17% profit. He gained 10% on the whole. How much did he sell at 7% profit ?
- A. 65 kg
- B. 70 kg
- C. 30 kg
- D. 35 kg
Show answer and explanation
Answer: B. 70 kg
Alligation: 17% - 10% = 7 and 10% - 7% = 3, so the ratio of 7%-profit sugar to 17%-profit sugar = 7 : 3. Quantity at 7% = 70 kg.
- A man bought two goats for Rs. 1008. He sold one at a loss of 20% and other at a profit of 44% if each goat was sold for the same price the cost price of the goat which was sold at loss, was :
- A. Rs. 568
- B. Rs. 360
- C. Rs. 440
- D. ) Rs. 648
Show answer and explanation
Answer: D. ) Rs. 648
Equal SPs: 0.8x = 1.44y, so x : y = 9 : 5. Cost of the first goat = 1,008 × 9/14 = Rs 648.
- A tradesman sold an article at a loss of 20%. If the selling price had been increased by Rs. 100, there would have been a gain of 5%. The cost price of the article was :
- A. Rs. 250
- B. Rs. 200
- C. Rs. 25
- D. Rs. 400
Show answer and explanation
Answer: D. Rs. 400
The difference between a 5% gain and a 20% loss is 25% of CP = Rs 100. CP = Rs 400.
- An article is sold at a profit of 20%. If it had been sold at a profit of 25%, it would have fetched Rs. 35 more. The cost price of the article is :
- A. Rs. 650
- B. Rs. 800
- C. Rs. 750
- D. Rs. 700
Show answer and explanation
Answer: D. Rs. 700
The difference between 25% and 20% profit is 5% of CP = Rs 35. CP = Rs 700.
- A dealer makes a profit of 20% even after giving a 10% discount on the advertised price of a scooter. If he makes a profit of Rs. 7500 on the sale of the scooter. the advertised price was :
- A. Rs. 52500
- B. Rs. 47500
- C. Rs. 45000
- D. Rs. 50000
Show answer and explanation
Answer: D. Rs. 50000
Profit = 20% of CP = 7,500, so CP = 37,500 and SP = 45,000. SP = 90% of advertised price, so the price = 45,000/0.9 = Rs 50,000.
- If the cost price of 10 articles is equal to the selling price of 7 articles, then the gain or loss percent is :
- A. 42 6/7% gain
- B. 51% gain
- C. 42 6/7% loss
- D. 35% loss
Show answer and explanation
Answer: A. 42 6/7% gain
10 CP = 7 SP, so SP/CP = 10/7. Gain = 3/7 = 42 6/7%.
- A man bought pencils at the rate of 6 for Rs. 4 and sold them at the rate of 4 for Rs. 6 his gain in the transaction is :
- A. 80%
- B. 100%
- C. 125%
- D. 75%
Show answer and explanation
Answer: C. 125%
CP per pencil = 4/6 = 2/3. SP per pencil = 6/4 = 3/2. Gain = (3/2 ÷ 2/3) - 1 = 9/4 - 1 = 125%.
- Ravi buys some toffees at 2 for a rupee and sells them at 5 for rupee. His loss percent is :
- A. 120
- B. 30
- C. 60
- D. 90
Show answer and explanation
Answer: C. 60
CP per toffee = 1/2, SP per toffee = 1/5. Loss = (1/2 - 1/5)/(1/2) = 60%.