Quantitative Apptitude - Profit & Loss Online Test 9

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| By Arpitc88
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Arpitc88
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Quantitative Apptitude - Profit & Loss Online Test 9 - Quiz

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Questions and Answers
  • 1. 

    100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is?

    • A.

      100/3 profit

    • B.

      100/7 loss

    • C.

      100/7 profit

    • D.

      100/3 loss

    Correct Answer
    C. 100/7 profit
    Explanation
    The percentage of profit or loss can be calculated by finding the difference between the selling price and the cost price, dividing it by the cost price, and then multiplying by 100. In this case, the cost price of 100 oranges is Rs. 350 and the selling price is Rs. 48 per dozen, which is equivalent to Rs. 4 per orange. Therefore, the selling price of 100 oranges is Rs. 400. The profit is Rs. 400 - Rs. 350 = Rs. 50. To calculate the percentage of profit, we divide the profit by the cost price (Rs. 350) and multiply by 100: (50/350) x 100 = 14.28%. This is approximately equal to 100/7, indicating a profit.

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  • 2. 

    By selling an article, sheetal earned a profit equal to 1/4th of the price he bought it. If he sold it for Rs.375 what was the cost price?

    • A.

      Rs 300

    • B.

      Rs 350

    • C.

      Rs 600

    • D.

      Rs 400

    Correct Answer
    A. Rs 300
    Explanation
    Sheetal earned a profit equal to 1/4th of the cost price. If the selling price is Rs.375, then the profit earned is Rs.375 - Rs.300 = Rs.75. Since the profit earned is 1/4th of the cost price, we can calculate the cost price as Rs.75 * 4 = Rs.300. Therefore, the cost price is Rs.300.

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  • 3. 

    By selling a pen for Rs.15, a man loses one sixteenth of what it costs him. The cost of the pen is?

    • A.

      Rs 10

    • B.

      Rs 15

    • C.

      Rs 8

    • D.

      Rs 16

    Correct Answer
    D. Rs 16
    Explanation
    If the man sells the pen for Rs.15 and loses one sixteenth of what it costs him, it means that he sells the pen for 15/16 of its cost. So, if 15/16 of the cost is equal to Rs.15, then the cost of the pen would be 16/15 times Rs.15, which is Rs.16.

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  • 4. 

    The cost of an article including the sales tax is Rs 616.The rate of sales tax is 10%,if the shopkeeper has made a profit of 12%,then the cost price of the article is?

    • A.

      Rs 600

    • B.

      Rs 500

    • C.

      Rs 750

    • D.

      Rs 100

    Correct Answer
    B. Rs 500
    Explanation
    The cost of the article including the sales tax is Rs 616. If the rate of sales tax is 10%, it means that the sales tax is 10% of the cost price. Let's assume the cost price of the article is x. So, the sales tax would be 0.10x. Therefore, the selling price of the article would be x + 0.10x = 1.10x. It is given that the shopkeeper has made a profit of 12%, which means the selling price is 112% of the cost price. So, 1.10x = 112/100 * x. Solving this equation, we get x = Rs 500. Therefore, the cost price of the article is Rs 500.

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  • 5. 

    The price of the jewel,passing through three hands,rises on the whole by65%.if the first and the second sellers 20%and25% profit respectively find the percentage profit earned by the third seller?

    • A.

      10%

    • B.

      20%

    • C.

      25%

    • D.

      5%

    Correct Answer
    A. 10%
    Explanation
    The price of the jewel increases by 65% after passing through three hands. The first seller makes a profit of 20% and the second seller makes a profit of 25%. To find the profit earned by the third seller, we need to calculate the remaining percentage increase in price.

    Let's assume the original price of the jewel is 100 units.

    After the first seller, the price becomes 100 + 20% of 100 = 120 units.
    After the second seller, the price becomes 120 + 25% of 120 = 150 units.

    So, the price has increased by 50 units after passing through the first two sellers.
    To find the remaining percentage increase, we can calculate (50/150) * 100 = 33.33%.

    Therefore, the profit earned by the third seller is 33.33% - 20% - 25% = 10%.

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  • 6. 

    What is a single discount equivalent to a discount series of 10% and 20%?

    • A.

      25

    • B.

      28

    • C.

      30

    • D.

      33

    Correct Answer
    B. 28
    Explanation
    A single discount equivalent to a discount series of 10% and 20% can be calculated by finding the total discount percentage. The first discount of 10% means the price is reduced to 90% of the original price. The second discount of 20% means the price is further reduced to 80% of the discounted price. Multiplying 90% and 80% gives us 72%, which means the final price is 72% of the original price. Therefore, the single discount equivalent to the series of discounts is 28%.

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  • 7. 

     Vikas bought paper sheets for Rs 7200 and spent Rs 200 o transport paying Rs 600, he had 330 boxes made, which he sold at Rs 28 each. His profit percentge is?

    • A.

      13.5

    • B.

      14.5

    • C.

      15.5

    • D.

      None of these

    Correct Answer
    C. 15.5
    Explanation
    Vikas bought paper sheets for Rs 7200 and spent Rs 200 on transport, totaling Rs 7400. He then had 330 boxes made, which he sold at Rs 28 each, earning a total of Rs 9240.
    To find the profit percentage, we need to calculate the profit first.
    Profit = Selling Price - Cost Price
    Profit = Rs 9240 - Rs 7400 = Rs 1840
    Profit Percentage = (Profit / Cost Price) * 100
    Profit Percentage = (1840 / 7400) * 100 = 24.86%
    Since the profit percentage is not given as an option, the correct answer is "none of these".

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  • 8. 

    A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is?

    • A.

      5%

    • B.

      10%

    • C.

      15%

    • D.

      20%

    Correct Answer
    A. 5%
    Explanation
    The trader is mixing two different varieties of rice, one costing Rs. 20 per kg and the other costing Rs. 36 per kg. The total weight of the mixture is 26 kg + 30 kg = 56 kg. The cost price of the mixture is (26 kg * Rs. 20/kg) + (30 kg * Rs. 36/kg) = Rs. 520 + Rs. 1080 = Rs. 1600. The selling price of the mixture is 56 kg * Rs. 30/kg = Rs. 1680. The profit made by the trader is Rs. 1680 - Rs. 1600 = Rs. 80. The profit percentage is (80/1600) * 100 = 5%.

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  • 9. 

    A shopkeeper on selling a pen for Rs.10, loses 1/11 of what it costs him. His cost price is?

    • A.

      Rs 11

    • B.

      Rs 13

    • C.

      Rs 17

    • D.

      Rs 21

    Correct Answer
    A. Rs 11
    Explanation
    The shopkeeper sells the pen for Rs.10 and loses 1/11 of its cost. This means that the selling price is 10/11 of the cost price. To find the cost price, we can set up the equation: cost price * (10/11) = Rs.10. Solving for the cost price, we get cost price = Rs.10 * (11/10) = Rs.11.

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  • 10. 

    A fruit seller purchases oranges at the rate of 3 for Rs.5 and sells them at 2 for Rs.4. His profit in the transaction is?

    • A.

      10 %

    • B.

      15 %

    • C.

      20 %

    • D.

      25 %

    Correct Answer
    C. 20 %

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  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 19, 2012
    Quiz Created by
    Arpitc88
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