Quant QUIZ

QUANT: QUIZ for IBPS (PROFIT AND LOSS)

1.If the cost price is 25% of selling price. Then what is the profit percent.

 a.  150%

 b.  200%

 c.  300%

 d.  350%

 e.  None of these

2.A book was sold for Rs 27.50 with a profit of 10%. If it were sold for Rs. 25.75, then would have been percentage of profit and loss ?

a.  2% Profit

b.  3% Profit

c.  2% Loss

 d.  3% Loss

e.  None of these

3.In terms of percentage profit, which among following the best transaction.

a.  C.P. 36, Profit 17

b.  C.P. 50, Profit 24

c.  C.P. 40, Profit 19

d.  C.P. 60, Profit 29

e.  None of these

4.A pair of articles was bought for Rs. 37.40 at a discount of 15%. What must be the marked price of each of the articles ?

a.  Rs15

b.  Rs 20

c.  Rs 22

d.  Rs 25

e.  None of these

5.A shopkeeper fixes the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is

a.  18%

b.  20%

c.  22%

d.  24%

e. None of these

6.A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%

a.  Rs 8.81

b.  Rs 9.81

c.  Rs 10.81

d.  Rs 11.81

e.  None of these

7.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.  12%

b.  13%

c.  14%

d.  15%

e.  None of these

8.A shopkeeper sold an article for Rs 2564.36. Approximately what was his profit percent if the cost price of the article was Rs 2400

a.  4%

b.  5%

c.  6%

d.  7%

e.  None of these

9.A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be.

a.  130%

b.  140%

c.  150%

d.  160%

e. None of these

10.If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is ?

a.  12%

b.  30%

c.  50%

d.  60%

e. None of these


Answer key and solution:
1- (C)(Explanation:Let the S.P = 100 then C.P. = 25 , Profit = 75,
so Profit% = 75/25 * 100 = 300%
2-(B)
3-(D)
4-(C)(Explanation:As question states that rate was of pair of articles,
So rate of One article = 37.40/2 = Rs. 18.70
 Let Marked price = Rs X then 85% of X = 18.70 => X = 1870/85 = 22
5-(B)(Explanation:Let the cost price = Rs 100 then, Marked price = Rs 135 Required gain = 8%,
    So Selling price = Rs 108 Discount = 135 - 108 = 27, Discount% = (27/135)*100 = 20%
6-(D)(Explanation: 85 : 9 = 105 : x, x= (9?105/85) = Rs 11.81
7-(A)(Explanation: Suppose he bought 5 kg and 3 kg of tea,  Cost Price = Rs. (5 x 18 + 3 x 20) = Rs. 150.  Selling price = Rs. (8 x 21) = Rs. 168. Profit = 168 - 150 = 18,
So, Profit % = (18/150) * 100 = 12%
8-(D)(Explanation: Gain % = (164.36*100/2400) = 6.84 % = 7% approx
9-(B)(Explanation:Let the C.P. = x, Then S.P. = (120/100)x = 6x/5  New S.P. = 2(6x/5) = 12x/5
 Profit = 12x/5 - x = 7x/5  Profit% = (Profit/C.P.) * 100 => (7x/5) * (1/x) * 100 = 140 %
10-(C)(Explanation:Friends, we know we will need gain amount to get gain percent, right.
So lets get gain first.
 Let the cost price of 1 pen is Re 1  Cost of 8 pens = Rs 8 Selling price of 8 pens = 12
 Gain = 12 - 8 = 4 Gain%=(GainCost*100)%=(48*100)%=50%