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Test: Profit and Loss- 1 - CLAT MCQ


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20 Questions MCQ Test Quantitative Techniques for CLAT - Test: Profit and Loss- 1

Test: Profit and Loss- 1 for CLAT 2024 is part of Quantitative Techniques for CLAT preparation. The Test: Profit and Loss- 1 questions and answers have been prepared according to the CLAT exam syllabus.The Test: Profit and Loss- 1 MCQs are made for CLAT 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Profit and Loss- 1 below.
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Test: Profit and Loss- 1 - Question 1

Vinod incurred a loss of 45 per cent on selling an article for Rs. 3740. What was the cost price of the article.

Test: Profit and Loss- 1 - Question 2

Meera incurred a loss of 40 per cent on selling an article for Rs. 5700/-. What was the cost of the article.

Test: Profit and Loss- 1 - Question 3

The marked price of a book is Rs. 160 and it is sold for Rs. 136. What was the rate of discount.

Test: Profit and Loss- 1 - Question 4

A man buys an article for Rs. 300 and sells it for Rs. 900. Find his gain per cent

Test: Profit and Loss- 1 - Question 5

A man buys a toy for Rs. 50 and sells it for Rs. 80. What is his gain per cent.  

Test: Profit and Loss- 1 - Question 6

A man buys a bicycle for Rs. 450 and sells it for Rs. 300. Find his loss per cent.

Test: Profit and Loss- 1 - Question 7

A shopkeeper marks a saree 20% above the cost price and allows a discount to the purchases of 10%. What profit percent does he make.

Test: Profit and Loss- 1 - Question 8

By selling an article for Rs. 480 a person lost 20%. For how much should he sell it to make a profit of 20%.

Detailed Solution for Test: Profit and Loss- 1 - Question 8

The correct option is C.
To make a profit of 20%, he has to sell the article for Rs. 720.
When he sold it for 480 he had lost 20%. So 80% of the actual price is 480. Hence the actual price of the article is (480×100÷80) = 600. To make a profit of 20% we have to calculate 120×600÷100=720.

Test: Profit and Loss- 1 - Question 9

The selling price of 5 article is the same as the cost price of 3 article. The gain or loss per cent is

Test: Profit and Loss- 1 - Question 10

A book seller bought 200 text book for Rs. 12000. He wanted to sell them at a profit so that he is left with 20 books as free. At what profit percent he sold them?

Detailed Solution for Test: Profit and Loss- 1 - Question 10
According to question,
CP of 200 book = 12000
CP of 1 book =  12000 / 200
= Rs. 60
To get 20 books free
Profit = 20*60 = 1200
i.e. 10% of Rs. 12000
⇒10% gain
Test: Profit and Loss- 1 - Question 11

A merchant finds that the CP of 2750 coconuts to be the same as the selling price of 2500 coconuts. Find the percent gain or loss.

Detailed Solution for Test: Profit and Loss- 1 - Question 11

The correct option is B.
According to the question,
2750 Cost Price = 2500 Selling Price
 CP/SP=2500/2750=10/11=1 unit profit
Profit%=110×100
=10% gain

Test: Profit and Loss- 1 - Question 12

A fair price shopkeeper taken 10% profit on his goods. He lost 20% goods during theft. His loss per cent is

Test: Profit and Loss- 1 - Question 13

A man sold 18 cots for Rs. 16800, gaining there by the cost price of 3 cots. Find the cost price of a cot. 

Detailed Solution for Test: Profit and Loss- 1 - Question 13
Man sold 18 cots at 16800 and gained cost of 3 cots.

So we can assume total 21 cots. (18+3gained)
Price of 1cot =16800/21= 800rs
Test: Profit and Loss- 1 - Question 14

Raghu purchased a scooter at 13/15th of its selling price and sold it for 12% more than the selling price. His gain is

Detailed Solution for Test: Profit and Loss- 1 - Question 14
CP=13 /15 SP
CP/SP =13/15

12%increase in SP =
15+15x12/100= 16.8

Profit =16.8 - 13 =3.8
Profit% = 3.8x100/13 = 29. 3/13 %
Test: Profit and Loss- 1 - Question 15

The marked price of a pen is Rs. 60. After allowing a discount of 10% the merchant makes a profit of 20% what is the cost price of the pen.

Detailed Solution for Test: Profit and Loss- 1 - Question 15

The correct option is B.
Marked price=60rs.
discount=10%
profit=20%
then,
SP=90%of 60=54
CP=(100/100+20)×SP
=(100/120)×54
=45rs.

Test: Profit and Loss- 1 - Question 16

A shopkeeper offers 10% discount on an article and still makes a profit of 20% what is the cost price of the article marked at Rs. 500?

Detailed Solution for Test: Profit and Loss- 1 - Question 16
Test: Profit and Loss- 1 - Question 17

A dealer marked his goods 25% above the CP, and allows a 10% discount to his customers. What is his gain per cent.

Test: Profit and Loss- 1 - Question 18

The cost of manufacture of an articles is Rs. 900. Trader wants to gain 25% after giving a discount of 10%. The marked price should be

Test: Profit and Loss- 1 - Question 19

A shopkeeper purchases 12 baloons for Rs. 10 and sells them at 10 baloons for Rs. 12. He earns a profit of

Detailed Solution for Test: Profit and Loss- 1 - Question 19

The correct option is C.
C.P of 12 balloons = 10
C.P of 1 balloon = 10/12 = 5/6
S.P of 10 balloons = 12
S.P of 1 balloon = 12/10 = 6/5
Profit = S.P - C.P
= 6/5 - 5/6
= (36 - 25)/30
= 11/30
Profit % = ( Profit/C.P ) × 100
= {(11/30)/(5/6)} × 100
= (11/30) × (6/5) × 100
= 44%

Test: Profit and Loss- 1 - Question 20

Anu sold 2 books at Rs. 1.40 each. Her profit on one was 20% and her loss on the other was 20%. Then she made

Detailed Solution for Test: Profit and Loss- 1 - Question 20

By apply percentage effect. 20% - 20% - 20×20/100 = 4% loss occur. S.P of both books= 2.8 Rs = 100 - 4 = 96% of C.P. So, 2.8 = 96% , C.P 100% = 2.8×100/96 = 2.917. C.P - S.P = 2.917 - 2.8 = .117 = 12 paise

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