Quant Quiz- Profit and Loss

1.Rohit bought paper sheets for Rs 7200 and spent Rs 200 on transport. Paying Rs 600, he had 330 boxes made, which he sold at Rs 28 each. His profit percentage is ?

a.15.5

b.60

c.40 .

d.35

e.None of these

2.A producer of tea blends two varieties of tea from two tea gardens one costing Rs 18 per kg and another Rs 20 per kg in the ratio 5 : 3. If he sells the blended variety at Rs 21 per kg, then his gain percent is?

a.10

b.19

c.12

d.22

e.None of these

3.If the cost price of 20 articles is equal to the selling price of 25 articles, what is the % profit or loss made by the merchant?

a.25% loss

b.25% profit

c.20% loss

d.20% profit

e.5% profit

4.Reshu bought 4 dozen oranges at Rs 12 per dozen and 2 dozen oranges at Rs 16 per dozen. She soldthem all to earn 20% profit. At what price per dozen did he sell the oranges ?.

a.14.4

b.16.8

c.16

d.19.2

e.None of these

5.A bought a ratio st and spent Rs 110 on its repairs. He then sold it to B at 20% profit,B sold it to C at a loss’ of 10 % and C sold it for Rs 1188 at a profit of 10 %. What is the amOunt for which A bought the radio set?

a.Rs 850

b.Rs 930

c.Rs 890

d.Rs 950

e.None of these

6.Rahim buys mangoes at the rate of 3 kg for Rs 21 and sells them at 5 kg for Rs 50. To earn Rs 102 as profit, he must sell?

a.26 kg

b.34 kg

c.32 kg

d.56 kg

e.None of these

7. Ram purchased 120 reams of paper at Rs 80 per ream. He spent Rs 280 on transportation, paid octroi at the rate of 40 paise per ream and paid Rs 72 to the coolie. If he wants to have a gain of 8 %, what must be the selling price per ream?

a.90

b.89

c.87.48

d.86

e.None of these

8. Ajay bought 15 kg of dal at the rate of Rs 14.50 per kg and 10 kg at the rate of Rs 13 per kg. He mixed the two and sold the mixture at the rate of Rs 15 per kg. What was his total gain in this transaction ?

a.Rs 1.10

b.Rs 11

c.Rs 16.50

d.Rs 27.50

e.None of these

9.A horse and a cow were sold for Rs. 12000 each. The horse was sold at a loss ot 20% and the cow at gain ot 20% 1 he entire transaction resulted in?

a.no loss or gain

b.gain of Rs. 1000

c.loss of Rs. 1000

d.gain of Rs. 2000

e.None of these

10.By selling 45 lemons for Rs 40, a man loses 20 %. How many should he sell for Rs 24 to gain. 20 % in the transaction ?

a.16

b.20

c.18

d.22

e.None of these

Next topic is Time and Work

Answers:

1.(a)
Total investment = Rs. (7200+200+ 600) Rs. 8000. 
Total receipt Rs. (330 x 28) = Rs. 9240.
profit % = [1240/8000] * 100 = 15.5

2.(c)
Suppose he bought 5 kg and 3 kg of tea. 
Cost Price = Rs. (5 x 18 + 3 x 20) = Rs. 150. 
Sell price = Rs. (8 x 21) = Rs. 168. 
profit % = (18/150) * 100 = 12%

3.(c)
Let the cost price of 1 article be $1.
Therefore, cost price of 20 articles = 20 * 1 = $20
The selling price of 25 articles = cost price of 20 articles = $20.
Now, we know the selling price of 25 articles. Let us find the cost price of 25 articles.
Cost price of 25 articles = 25 * 1 = $25.
Therefore, profit made on sale of 25 articles = Selling price of 25 articles - cost price of 25 articles
= 20 - 25 = -$5.
As the profit is in the negative, the merchant has made a loss of $5. 
Therefore, % loss = loss/cp * 100
% loss = -5/25 * 100 = 20% loss.

4.(c)
Total CP = (12*4 + 16 *2) = 80 
SP of 6 dozen oranges = [(120/100 )* 80)] = 96 
sell price per dozen =16

5.(c)
110% of 9O% of 120% of A = 1188.
[(110/100)*(90/100)*(120/100)*A] = 1188 or A = 1188/1000 
since A =1188 hence A = 100 
A purchased it for Rs. (1000— 110) = Rs. 890.

6.(b)
rate of buying = 7; rate of selling = 10 to gain 3 Rs he must buy 1 kg 
for 102 profit he must buy = (102/3) = 34

7.(a)
Total investment = Rs. (120 * 80 + 280 + (40/100) * 120 + 72). 
= Rs. (9600 + 280+48 + 72) = Rs, 10000. 
Sell price of 120 reams = 108% of Rs. 10000 = Rs. 10800.
Sell Price per ream = Rs. [10800/120] = Rs. 90.

8.(d)
Cost price of 25 kg = Rs. (15 x 14.50 + lOx 13) = Rs. 347.50. 
Sell price of 25 kg = Rs. (25 x 15) = Rs. 375. 
profit = Rs. (375 — 347.50) = Rs. 27.50.

9.(c)
Total S.P. Rs, 24000. 
C.P. of horse =Rs. [(100/80) x 12000] = 15000. 
C.P. of cow = Rs.[(100/120) x 12000] = 10000 
Total C.P. = Rs. 25000. 
Loss = Rs. (25000—24000) Rs 1000.

10.(c)
Let S.P. of 45 lemons is Rs. x. 
80 : 40 = 120 : x or 80/40 = 120/x or x = 40 * 120 / 80 = 60 
lemons sold For Rs. 60, = 45 
lemons sold For Rs. 24, = (45/60) * 24= 18.