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This mock test of Profit And Loss MCQ - 3 for Quant helps you for every Quant entrance exam.
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QUESTION: 1

A toy is sold for Rs.336, if the % of profit is equal to cost price, then find CP ?

Solution:

(100+x)% of X = 336

100x+x^{2} = 33600

x^{2} +100x – 33600 = 0

(x+240x)(x-140x) =0

X = 140

QUESTION: 2

Shopkeeper purchased some goods for Rs.900 and sold one-third of the goods at a loss of what 12%, then at gain % should the remainder goods he sold to gain 18% profit on the whole transaction ?

Solution:

1/3^{rd} at 12% loss = 900/3 =300*88/100 =264

900*18/100 = 108 => 600+162+36 = 798

198/600 *100 = 33%

QUESTION: 3

A bought ‘X’ quantity of pencils for Rs.500 and he sold 2/5 part for 5% loss and at which percent he must sell his rest of the quantity so that he would gain overall 10% profit ?

Solution:

500*2/5 = 200

5%L = 200*95/100 = 190

500+10+(500*10/100) = 510+50 = 560

60/500 * 100 = 20%

QUESTION: 4

**A dealer marked the price of an item 20% above cost price. He allowed two successive discounts of 10% and 25% to a customer. A a result he incurred a loss of Rs.684. At what price did he sell the item to the customer ?**

Solution:

CP = 100

MP = 120

120*90/100 = 108; 108*75/100 = 81

Loss = 100 – 81 = 19%

CP = 100/19*684 = 3600

SP = 3600*81/100 = 2916

QUESTION: 5

A man gains 15% by selling an article for a certain price. If he sells it at double the price, then the % of profit will be

Solution:

CP = 100, 15% GAIN = 115

SP = 230

P = 230-100 = 130

% = 130%

QUESTION: 6

A man went to shop to buy mobile for Rs.3500, the rate of sales tax being 8%. He tell the shopkeeper to reduce the price of mobile to such an extent that has to pay Rs.3500, inclusive of all taxes. Find the reduction price.

Solution:

3500*100/108 = 3240

3500-3240 = 260

QUESTION: 7

An item was bought at Rs. X and sold at Rs.Y, thereby earning a profit of 15%. Had the value of X been 15% less and the value of Y been Rs.52 less, a profit of 20% would have been earned, What was the value of X ?

Solution:

x(1.15)=y———–1

x(0.85)(1.2)=y-52——————-2

Sub 1 in 2, and solve x

(1.15)x-(1.02)x=52

(0.13)x=52

x=400

QUESTION: 8

An article passing threw two hands, is sold at profit of 40 % at the original price , if the first dealer makes a profit of 15 % , then the profit made by second dealer.

Solution:

Total Profit = [P1 + P2 +(P1*P2/100)] 40 = 15 + P2 + (15*P2)

25-p2 = 15P2/100

2500 = 15p2+100p2

P2 = 2500/115 = 21.7% = 22%

QUESTION: 9

A boy sells a Radio to B at a 10 % loss, B sells it to C at 25 % gain and C sells it to D at a loss of 8 %, if D pays Rs 1625 for it then how much does A pay for.

Solution:

Cost price of A = 1625*[(100*100*100)/(90*125*92)] = 1570

QUESTION: 10

What is the maximum % discount that a man can offer on her MP so that he ends up selling at no profit or loss, if he had initially marked his goods up by 35% (approximately)?

Solution:

35-x-(35*x/100) = 0

3500/100 –(100x+35x/100) = 0

35 = 135/100

X = 35*100/135 = 25.9 = 26%

QUESTION: 11

A vendor fixed Selling Price of a product at 40% above the cost price. He sells half the stock at this price, one-quarter of that stock at a discount of 25% on the original selling price and rest at a discount of 30% on the original selling price. Find the gain percentage all together?

Solution:

Let CP = 100;

marked price=140;

Revenue = [(1/2)*140 + (1/4)*0.75*140 + (1/4)*0.7*140] = 70 + 26.25 + 24.5 = 120.75;

% profit = 20.75/100 = 20.75%

QUESTION: 12

**A vendor sold two magazines namely A and B. He sold magazine ‘A’ at a loss of 20% and magazine ‘B’ at a profit of 25% but finally there is no loss or no gain. If the total Selling price of both magazines is Rs.450. Find the difference between the Cost Price of Magazine ‘A’ and ‘B’?**

Solution:

20% of x = 25% of y ; x + y = 450

x/y = 5/4

Difference = Rs.50

QUESTION: 13

Deepak found that he had made a loss of 10% while selling his smartphone. He also found that had he sold it for Rs.50 more, he would have made a profit of 5%. The initial loss was what percentage of the profit earned, had he sold the smartphone for a 5% profit ?

Solution:

Profit= 5%

5% of CP = Rs. 50

CP = Rs. 1000

Now, Loss% = 10%

Loss =Rs. 100

Required % = (100/50)*100 = 200%

QUESTION: 14

Mukesh and Rakesh wants to make 25% profit on selling good. Mukesh calculating it on cost price while Rakesh on the selling price, the difference in the profits earned by both being Rs. 100 and selling price being the same in both the cases. Find out the Selling Price of both goods?

Solution:

Profit = 25% = 1/4

Let CP of Mukesh’s article = 4x & Profit = x; SP = 4x + x = 5x

Let CP of Rakesh’s article = 4y = 5x —(1)[Selling price of Mukesh’s article = Cost Price of Rakesh’s article] x – y = 100—-(2)

y = 500

Selling price = 5x = 4y = 2000

QUESTION: 15

Ananya buys two bangle set for a total cost of Rs. 900. By selling one bangle set for 4/5 of its cost and the other for 5/4 of its cost, She makes a profit of Rs. 90 on the whole transaction. The cost of the lower priced bangle set is?

Solution:

CP of 1st bangle set = x

CP of 2nd bangle set = 900-x

SP of 1st bangle set = 4x/5

SP of 2nd bangle set=(900-X)5/4

Profit=SP-CP

90=4x/5+(900-X)5/4-900

X = 300 = Lower priced bangle set = Rs.300

QUESTION: 16

A book shop owner wants to sell his old edition books(Total No: 40). If he sells them at Rs. 148 per book, he would be able to sell all the books. But for every Rs.8 increase in price of the book, he will be left with one extra unsold book. Assuming that unsold books remain with him. If he wants to maximise his profit, then how many unsold books remain with him?

Solution:

From options

unsold books = 12 -> (12*8 = 96); CP per book = 148 + 96 = 244 ; Revenue = 244 * 28 = 6832

unsold books = 11 -> (11*8 = 88); CP per book = 148 + 88 = 236 ; Revenue = 236 * 29 = 6844

unsold books = 10 -> (10*8 = 80); CP per book = 148 + 80 = 228 ; Revenue = 228 * 30 = 6840

QUESTION: 17

Akshay sells an article for Rs 500 and earned some profit. The profit of that article is equalled to the ten times of the loss incurred when it is sold for Rs.225. If he wants to make a profit of 30%, then what will be the Selling Price?

Solution:

Selling price of an article = Rs 500; Let the cost price of the article = x

Profit = Rs (500 – x)

Selling price of the article = Rs 225; Loss = Rs (x – 225)

⇒ (500 – x) = 10 (x – 225)

⇒ 500 – x = 10x – 2250

⇒ 11x = 2750

⇒ x = 250

The cost prise of the article = Rs 250; Profit = 30%

Selling price = 250 x (100 + 130) / 100 = 325

QUESTION: 18

**A Vendor sells apples at a certain price in order to make a profit of 30%. If he charges Rs. 1.5 higher per apple he would get a profit of 60%. Find the original price at which he sold an apple?**

Solution:

CP of an apple = Rs. x

Profit = 30%

SP = Rs. 1.30x

If SP = x + Rs.1.5

Profit = 60%

1.60x = x + 1.5 or x = Rs. 2.5

Hence, Original SP = Rs 1.5x = Rs. 3.75

QUESTION: 19

Aaradhana buys rice at Rs.10/kg and sell it in order to earn a profit of 40%. However, her faulty balance shows 1000gm when it is actually 800gm. What is her actual gain percentage?

Solution:

Let price of 1 kg rice = Rs.10.

CP of 800 gm rice = Rs.8.

She wants to earn a profit of 40% on per Kg

SP = 10 + 40% of 10 = Rs. 14 per kg.

Faulty balance shows 800 gm = 1000 gm (1 kg)

She sells 800 gm for Rs.14.

Profit = 14 – 8 = Rs. 6.

Profit(%) = 6/8 * 100 = 75%.

QUESTION: 20

Mr. Richard bought two watches which together cost him Rs.440. He sold one of the watches at a loss of 20% and the other one at a gain of 40%. The selling price of both watches is same. Then find out the cost price of both watches.

Solution:

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