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Test: Profit & Loss- 2 - CAT MCQ


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10 Questions MCQ Test - Test: Profit & Loss- 2

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Test: Profit & Loss- 2 - Question 1

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

Detailed Solution for Test: Profit & Loss- 2 - Question 1

Let the cost price of a ball be Rs. x.

So, the CP of 17 balls is Rs. 17x.

The CP of 5 balls is Rs. 5x.

 

Since Loss = CP - SP

So, 5x = 17x - 720

On solving, we get

12 x = 720

that is, x = 60

So, the cost price of a ball is Rs. 60.

Test: Profit & Loss- 2 - Question 2

When an item is sold for Rs. 18,700, the owner loses 15%. At what price should that item be sold to get a gain of 15%?
 

Detailed Solution for Test: Profit & Loss- 2 - Question 2

85 : 18700 = 115 : x
⇒ x = (18700*115)/85
x = 25300

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Test: Profit & Loss- 2 - Question 3

100 oranges were brought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. What is the percentage of profit or loss?  

Detailed Solution for Test: Profit & Loss- 2 - Question 3

So before solving this question we will get the C.P. and S.P. of 1 article to get the gain percent.

C.P. of 1 orange = 350/100 = Rs 3.50
S.P. of one orange = 48/12 = Rs 4 [note: divided by 12 as 1 dozen contains 12 items]
Gain = 4 - 3.50 = Rs 0.50

Profit

Test: Profit & Loss- 2 - Question 4

If a material is sold for Rs.34.80, there is a loss of 25%. Find out the cost price of the material?
 

Detailed Solution for Test: Profit & Loss- 2 - Question 4

The correct answer is A as
 cost price = SPX100/100-loss
=34.80×100/75
=46.40

Test: Profit & Loss- 2 - Question 5

A trader gives 12% additional discount on the discounted price, after giving an initial discount of 20% on the labeled price of an item. The final sale price of the item is Rs.704. Find out the labeled price?
 

Detailed Solution for Test: Profit & Loss- 2 - Question 5

Let the marked price be Rs. 100.
Successive discounts of 20% and 12% were given.
Sale price = 100 × 80/100 × 88/100 = Rs.704/10
If the sale price is Rs.704/10, the marked price is Rs.100
If the sale price is Rs.704, the marked price is
= 100 × 10 × 704/704 =  Rs.1000
 

Test: Profit & Loss- 2 - Question 6

A man sells two houses at the rate of ₹1.95 lac each. He gains 5% on one and on other, he lost 5% find his gain or loss percent in the whole transaction.

Detailed Solution for Test: Profit & Loss- 2 - Question 6

Test: Profit & Loss- 2 - Question 7

A shopkeeper sells two tables, each procured at cost price p, to Amal and Asim at a profit of 20% and at a loss of 20%, respectively. Amal sells his table to Bimal at a profit of 30%, while Asim sells his table to Barun at a loss of 30%. If the amounts paid by Bimal and Barun are x and y, respectively, then (x - y) / p equals

Detailed Solution for Test: Profit & Loss- 2 - Question 7

CP of the table at which the shopkeeper procured each table = p

It is given that shopkeeper sold the tables to Amal and Asim at a profit of 20% and at a loss of 20%, respectively

The selling price of the tables = 1.2p and 0.8p to Amal and Asim respectively.

Amal sells his table to Bimal at a profit of 30%

So, CP of the table by Bimal (x)= 1.2p*1.3 = 1.56p

Asim sells his table to Barun at a loss of 30%

So, CP of the table by Barun (y)= 0.7*0.8p = 0.56p

(x-y)/p=(1.56p-0.56p)/p=p/p=1

Test: Profit & Loss- 2 - Question 8

Mukesh purchased 10 bicycles in 2017, all at the same price. He sold six of these at a profit of 25% and the remaining four at a loss of 25%. If he made a total profit of Rs. 2000, then his purchase price of a bicycle, in Rupees, was

Detailed Solution for Test: Profit & Loss- 2 - Question 8

Let the cost of each bicycle= 100b

CP of 10 bicycles = 1000b
It is given that he sold six of these at a profit of 25% and the remaining four at a loss of 25%
SP of 10 bicycles = 125b*6 + 75b*4

= 1050b

Profit = 1050b - 1000b = 50b

50b = 2000

CP = 100b = 4000

Test: Profit & Loss- 2 - Question 9

Mayank buys some candies for Rs 15 a dozen and an equal number of different candies for Rs 12 a dozen. He sells all for Rs 16.50 a dozen and makes a profit of Rs 150. How many dozens of candies did he buy altogether?

Detailed Solution for Test: Profit & Loss- 2 - Question 9

Let the number of dozens of candies he bought of each variety be x

Hence total cost = 12x + 15x = 27x

Total selling price = 16.50*2x = 33x

Profit = 33x - 27x = 6x

Given 6x = 150 => x = 25

Hence he bought 50 dozens of candies in total

Test: Profit & Loss- 2 - Question 10

A merchant purchases a cloth at a rate of Rs. 100 per meter and receives 5 cm length of cloth free for every 100 cm length of cloth purchased by him. He sells the same cloth at a rate of Rs. 110 per meter but cheats his customers by giving 95 cm length of cloth for every 100 cm length of cloth purchased by the customers. If the merchant provides a 5% discount, the resulting profit earned by him is

Detailed Solution for Test: Profit & Loss- 2 - Question 10

It is given that a merchant purchases a cloth at a rate of Rs.100 per meter and receives 5 cm length of cloth free for every 100 cm length of cloth purchased by him.

Hence, the cost price of 105 cm clothes is 100 rupees. 

It is also known that he marked the price of 100 cm clothes as 110 rupees, and gave a 5% discount, and he cheated his customers by giving 95 cm length of cloth for every 100 cm length of cloth purchased by the customers.

Hence, the selling price of 95 cm clothes is 110*(19/20) rupees.

Therefore, the selling price of 105 cm clothes is 115.5 rupees.

Hence, the profit is 15.5%

The correct option is C

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