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# Test: Profit And Loss- 1

## 10 Questions MCQ Test IBPS PO Mains - Study Material, Online Tests, Previous Year | Test: Profit And Loss- 1

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This mock test of Test: Profit And Loss- 1 for Quant helps you for every Quant entrance exam. This contains 10 Multiple Choice Questions for Quant Test: Profit And Loss- 1 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Profit And Loss- 1 quiz give you a good mix of easy questions and tough questions. Quant students definitely take this Test: Profit And Loss- 1 exercise for a better result in the exam. You can find other Test: Profit And Loss- 1 extra questions, long questions & short questions for Quant on EduRev as well by searching above.
QUESTION: 1

Solution:

QUESTION: 2

Solution:

QUESTION: 3

### John buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, what is his gain percent ?

Solution:

Whenever we get this type of question, we should have formula in mind that,
Gain% = (gain/cost) x 100

Cost = 4700 + 800 = Rs. 5500
S.P. = Rs. 5800

Profit = 5800 - 5500 = 300

QUESTION: 4

A sells a car to B at 10% loss. If B sells it for Rs. 54000 and gains 20%, the cost price of the car for A was

Solution:

Selling price of the car = Rs.54,000
gain 20%
Friend's cost price of the car = Rs. 54000 x 100/120 = Rs.45,000
Now selling price of the car of the first owner Rs.45000
Loss 10%
Cost price of the car = 45000 x 100/90
= Rs.50,000

QUESTION: 5

In a shop, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, find out approximately what percentage of the selling price is the profit?

Solution:

Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs. 420.

Profit = Rs. (420 - 125) = Rs. 295.

QUESTION: 6

The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find out the value of x

Solution:

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.

S.P. of x articles = Rs. 20.

Profit = Rs. (20 - x)

⇒ 2000 - 100x = 25x

⇒ 125x = 2000

⇒ x = 16.

QUESTION: 7

A man buys a scooter for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the scooter?

Solution:

QUESTION: 8

On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

Solution:

(C.P. of 17 balls) - (S.P. of 17 balls) = (C.P of 5 balls)
⇒ C.P of 12 balls = S.P of 17 balls = Rs.720.
⇒ C.P. of 1 ball = Rs.

QUESTION: 9

An exporter expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

Solution:

QUESTION: 10

A vendor bought bananas at 6 for a rupee. How many for a rupee must he sell to gain 20%?

Solution:

C.P. of 6 toffees = Re. 1

S.P. of 6 toffees = 120% of Re. 1 = Rs.6/5

For Rs.6/5 , toffees sold = 6.

For Re. 1, toffees sold =