# PROFIT AND LOSS - EX NO.1

**Profit and Loss**

**EXERCISE NO. 1**

**NOTE: Please try to answer all these 20 questions initially within 20 minutes. Then check up with the answers given. Next time u attend these problems u must be able to answer each problem within 30 seconds.**

**1. A dealer makes his goods 20% above cost price. He then allows some discount on it and makes a profit of 8%. The rate of discount is:**

**a) 4%. b) 6%. c) 10%. d) 12%.**

**2. By selling an umbrella for Rs.30, a shopkeeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% of the marked price, his gain percent during the sale season is:**

**a) 7 b) 7.5 c) 8 d) 9**

**3. A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs.680.40 as the price including the sales tax, what is the marked price of the item?**

**a) Rs.630. b) Rs.700. c) Rs.780. d) None**

**4. The difference between cost price and sale price of an article is Rs.240. If the profit percent is 20, at what price was the article sold?**

**a) Rs.1240. b) Rs.1400. c) Rs.1600. d) None of these.**

**5. By selling a motorcycle for Rs.22600 a person gains 13%, what was his gain?**

**a) Rs.600. b) Rs.2936. c) Rs.2600. d) Data inadequate.**

**6. A shopkeeper bought locks at the rate of 8 locks for Rs.34 and sold them at 12 locks for Rs.57. the number of locks he should sell to have a profit of Rs.900 is:**

**a) 1400. b) 1600. c) 1800. d) 2000.**

**7. A shopkeeper earns 15% profit on a shirt even after allowing 31% discount on the list price. If the list price is Rs.125, then the cost price of the shirt is:**

**a) Rs.87. b) Rs.80. c) Rs.75. d) Rs.69.**

**8. Loss incurred by selling a bicycle for rs.895 is equal to the profit earned by selling it for Rs.955. what is the loss/profit in this case?**

**a) Rs.45. b) Rs.30. c) Rs.75. d) Cannot be determined.**

**9. If 2kg of almonds cost as much as 8kg of walnuts and the cost of 5kg of almonds and 16kg of walnuts is Rs.1080, the cost of almonds per kg is:**

**a) Rs.160. b) Rs.150. c) Rs.120. d) None of these.**

**10. A manufacturer sells a pair of glasses to a wholesale dealer at a profit of 18%. The wholesaler sells the same to a retailer at a profit of 20%. The retailer in turn sells them to a customer for Rs.30.09, thereby earning a profit of 25%. The cost price of the manufacturer is:**

**a) Rs.15. b) Rs.16. c) Rs.17. d) Rs.18.**

**11. Chaterjee bought a car and got 15% of its original price as dealer’s discount. He then sold it with 20% profit on his purchase price. What percentage of profit did he get on the original price of the car?**

**a) 2%. b) 12%. c) 5%. d) 17%.**

**12. If the difference between selling a shirt at a profit of 10% and 15% is Rs.10, then the cost price is:**

**a) Rs.110. b) Rs.115. c) Rs.150. d) Rs.200.**

**13. The cost of a shirt after 15% discount is Rs.102. what was the cost of the shirt before the discount?**

**a) Rs.117. b) Rs.118. c) Rs.120. d) Rs.121.**

**14. If a man reduces the selling price of a fan from Ts.400 to rs.380, his loss increased by 20%. The cost price of the fan is:**

**a) Rs.600. b) Rs.400. c) Rs.480. d) None.**

**15. By selling a vehicle for Rs.455000, Samant suffers 25% loss, what is his loss?**

**a) Rs.115370. b) Rs.113570. c) Rs.113750. d) None of these.**

**16. A shopkeeper marks his goods 20% higher than the cost price and allows a disount of 5%. The percentage of his profit is:**

**a) 10%. b) 14%. c) 15%. d) 20%.**

**17. A dealer offered a machine for sale for Rs.27500 but even if he had charged 10% less he would have made a profit of 10%. The actual cost of the machine is:**

**a) Rs.24250. b) Rs.22500. c) Rs.22275. d) Rs.22000.**

**18. A toy car was sold at a loss for Rs.60. Had it been sold for Rs.81, the gain would have been ¾ of the former loss. The cost of the toy is:**

**a) Rs.65. b) Rs.72. c) Rs.80. d) Rs.86.**

**19. A trader allows a trade discount of 20% and a cash discount of 6¼% on the marked price of the goods and gets a net gain of 20% on the cost. By how much above the cost should the goods be marked for sale?**

**a) 40%. b) 50%. c) 60%. d) 70%.**

**20. A merchant has 120 kg of rice. He sells a part of it at a profit of 10% and the rest at a profit of 25%. He gains 15% on the whole. Quantity of rice he sold at 25% gain is:**

**a) 30kg. b) 40kg. c) 50kg. d) 55kg.**

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**ANSWERS--**

1.C 2.C 3.B 4.D 5.C 6.C 7.C 8.B 9.C 10.C

11.A 12.D 13.C 14.B 15.D 16.B 17.B 18.B 19.C 20.B

PROFIT AND LOSS - EX NO.1
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