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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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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 Reviewed by sambasivan srinivasan on 7:24:00 AM Rating: 5