19 Feb 2016

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Practice Test on Profit and Loss II

PRACTICE TEST ON PROFIT AND LOSS II:


1. 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?


A. 12%     


B. 10%


C. 32/7


D. 60/11%


2. 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


A. 15


B. 25


C. 18


D. 16


3. If selling price is doubled, the profit triples. What is the profit percent?


A. 100


B. 316/3


C. 200/3


D. 120


4. 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?


A. 250%


B. 100%


C. 70%


D. 30%


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


A. 3


B. 4


C. 5


D. 6


6. The percentage profit earned by selling an item for Rs. 1920 is equal to the percentage loss incurred by selling the same item for Rs. 1280. At what price should the item be sold to make 25% profit?


A. Insufficient Data


B. Rs. 3000


C. Rs. 2000


D. Rs. 2200


7. 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?


A. Insufficient Data


B. Rs. 80


C. Rs. 90


D. Rs. 72


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


A. Rs. 1240


B. Rs. 1190


C. Rs. 1090


D. Rs. 1130


9. Murali purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. Find out his profit percentage.


A. 3.5


B. 5.6


C. 4.1


D. 3.4


10. Some items were bought at 6 items for Rs. 5 and sold at 5 items for Rs. 6. What is the gain percentage?


A. 44%


B. 33(1/3)%


C. 31(2/3)%


D. 30%


11. 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?


A. Rs. 43


B. Rs. 60


C. Rs. 55


D. Rs. 34


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


A. Rs. 25100


B. Rs. 24200


C. Rs. 25300


D. Rs. 21200


13. 100 oranges were bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. What is the percentage of profit or loss?


A. 11(2/7)% Loss


B. 11(1/7)% Profit


C. 14(2/7)% Profit


D. 14(2/7)% Loss


14. A shopkeeper sells one radio for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. What is his total gain or loss percentage?


A. 5%


B. 6%


C. 6(12/17)%


D. 5(15/17)%


15. 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. What is his profit percentage?


A. 6%


B. 5%


C. 4%


D. 7%


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

A. Rs.46.40


B. Rs.44


C. Rs.42


D. Rs.47.20

17. A fruit seller sells apples at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%?


A. 11.32


B. 11


C. 12


D. 11.81


18. 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?


A. 1000


B. 2000


C. 1200


D. 920


19. A man sells two houses at the rate of Rs.1.995 lakhs each. On one he gains 5% and on the other, he loses 5%. What is his gain or loss percent in the whole transaction?


A. 0.25%.


B. .3%


C. .4%


D. .5%


20. John purchased a machine for Rs. 80,000. After spending Rs.5000 on repair and Rs.1000 on transport he sold it with 25% profit. What price did he sell the machine?


A. Rs.107000.


B. Rs.107500.


C. Rs.108500.


D. None of these


21. By selling an item for Rs.15, a trader loses one sixteenth of what it costs him. The cost price of the item is


A. Rs.14


B. Rs.15


C. Rs.16


D. Rs.17


22. A shopkeeper sells his goods at cost price but uses a weight of 800 gm instead of kilogram weight. What is his profit percentage?


A. 18%


B. 40%


C. 25%


D. 20%


23. Prasanth bought a car and paid 10 % less than the original price. He sold it with 30% profit on the price he had paid. What percentage of profit did he earn on the original price?


A. 17%


B. 16%


C. 18%


D. 14%


24. If a seller reduces the selling price of an item from Rs.400 to Rs.380, his loss increases by 2%. What is the cost price of the item?


A. 1000


B. 800


C. 1200


D. 1100


25. A trader keeps the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is


A. None


B. 30%


C. 25%


D. 20%


26. Arun bought a computer with 15% discount on the labeled price. He sold the computer for Rs.2880 with 20% profit on the labeled price. At what price did he buy the computer?


A. Rs.3000


B. Rs.2080


C. Rs.2040


D. Rs.2000


27. An item was sold for Rs.27.50 with a profit of 10%. If it was sold for Rs.25.75, what would have been the percentage of profit or loss?


A. 3%


B. 2%


C. 4%


D. 5%


28. If selling price of an article is Rs. 250, profit percentage is 25%. Find the ratio of the cost price and the selling price


A. 5 : 3


B. 3 : 5


C. 4 : 5


D. 5 : 4


29. A material is purchased for Rs. 600. If one fourth of the material is sold at a loss of 20% and the remaining at a gain of 10%, Find out the overall gain or loss percentage?


A. 7/2%


B. 5/2%


C. 3%


D. 2%


30. A shopkeeper buys pencils at 9 for Rs. 16 and sells them at 11 for Rs. 22. Find out his loss or gain percentage?


A. 12(1/2)%


B. 12%


C. 14%  


D. 11(2/3)%


31. A reduction of 10% in the price of a pen enabled a trader to purchase 9 more for Rs.540. What is the reduced price of the pen?


A. 8


B. 6


C. 5


D. 4


32. Sunil purchases two books at Rs.300 each. He sold one book 10% gain and other at 10% loss. What is the total loss or gain in percentage?


A. 10% gain


B. 1% loss


C. No loss or no gain


D. 1% gain

ANSWERS:

1 D 2 D 3 A 4 C 5 C 6 C 7 D 8 B 9 B 10 A
11 B 12 C 13 C 14 D 15 B 16 A 17 D 18 A 19 A 20 B
21 C 22 C 23 A 24 A 25 D 26 C 27 A 28 C 29 B 30 A 31 B 32 C

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