Quant Quiz on Profit & Loss

Quant Quiz on Profit & Loss 

1. A person bought a horse and a carriage for Rs. 20,000. Later, he sold the horse at 20% profit and the carriage at 10% loss. 

Thus, he gained 2% in the whole transaction. The cost price of the horse was
(a) Rs. 7, 200/- 
(b) Rs. 7, 500/-
(c) Rs. 8, 000/-
(d) Rs. 9, 000/-
(e) none of these



2. A sells an article to B at 15% profit. B sells it to C at 10% loss. If C pays Rs. 517.50/-  for it then A purchased it at: 
(a) Rs. 500/-
(b) Rs. 7,50/-
(c) Rs. 1,000/-
(d) Rs. 1, 250/-
(e) none of these

3. An article is sold at a certain fixed price. By selling it at 2/3 of that price, one losses 10%.

 The gain percent on selling it at the original Price is: 
(a) 20
(b) 33.33
(c) 35
(d) 40
(e) none of these

4. A sells an article to B for Rs. 45, 000/- losing 10% in the transaction. B sells it to C at a price which would have given a profit of 10% to A. 

By what per cent does B gain?  
(a) 75/2
(b) 100/3
(c) 200/9
(d) 150/7
(e) none of these

5. The cost price of an article is 80% of its marked price for sale. How much per cent does the  tradesman gain after allowing a discount of 12%? 
(a) 20
(b) 12
(c) 10
(d) 8
(e) none of these

6.  A merchant has announced 25% rebate on prices of ready- made garments at the time of sale. 

If a purchase need to have a rebate of Rs. 400/-, then how many shirts, each costing Rs. 320/-, should he purchase? 
(a) 10
(b) 7
(c) 6
(d) 5
(e) none of these

7. A merchant purchases a wristwatch for Rs. 450/- and fixes its list price in such a way that after allowing a discount of 10%, 

he earns a profit of 20%. Then the list price (in rupees) of the wristwatch is : 
(a) 500
(b) 600
(c) 750
(d) 800
(e) none of these

8. A reduction of 10% in the price of tea enables a dealer to purchase 25 kg more tea for Rs. 22, 500/- what is the reduced price per kg of tea? 
(a) Rs. 70/-
(b) Rs. 80/-
(c) Rs. 90/-
(d) Rs. 100/-
(e) none of these

9. Ram donated 4% of his income to a charity and deposited 10% of the rest in a Bank. If now he has Rs. 8, 640/- left with him, then his income is: 
(a) Rs. 12, 500/-
(b) Rs. 12, 000/-
(c) Rs. 10, 500/-
(d) Rs. 10, 000/-
(e) none of these

10. If the length of a rectangle is increase by 10% and its breadth is decreased by 10%, then its area :
(a) Decreased by 1%
(b) Increases by 1%
(c) Decreases by 2%
(d) Remains unchanged
(e) none of these

Answers with Explanation:

1. (c) Let CP of Horse = x
According to questions
X * 20/100 – (20,000 – x) *  10/100 = 20, 000 * 2/100
x = 8,000

2. (a) Let CP of A be x Rs
According to questions
115x/100 * 90/100 = 517.5
x  = 500

3. (c) Let CP = 100
2/3 SP = 90
SP = 135
P% = 35%

4. (c)

5. (c)Let MP = 100, CP = 80
SP = 88
P %  = 10%

6.(d) The cost of rebate of on a shirt = 25/100 * 320 = 80
No of shirts for taking the rebate of Rs. 400
= 400/80 = 5

7. (b) MP = 450 * 120/100 * 100/90 = 600

8. (c) 25 kg = 2250
1 kg = 90

9. (d) Le income of Ram = x
So, x = 94/100 * 90/100 = 8640
x = 10, 000

10. (a) 10 – 10 – (10 * 10)/ 100
       = -1