QUANT QUIZ ON PROFIT AND LOSS

FORMULAS:

C.P. = COST PRICE , S.P.= SELLING PRICE, M.P.= MARKED PRICE

1.    Profit/Gain = (S.P.-C.P.)

2.    Loss = (C.P. - S.P.)

3.    Discount = (M.P.-S.P.)

4.    Loss or gain is always reckoned on C.P.

5.    Profit /Gain Percentage:

P %=(Gain x 100)/C.P.

6.    Loss Percentage:

L %=(Loss x 100)/C.P.

7.    Selling Price(for gain):

S.P.={ (100 +Gain %)/100 } x C.P.

8.    Selling Price (for loss):

S.P.={ (100 - Loss %)/100 } x C.P.

9.    Cost Price (for gain):

C.P.={ 100 /(100+Gain %) } x S.P.

10. Cost Price (for loss):

C.P.={ 100/(100 - Loss %)/100 } x S.P.

QUANT QUESTION ON PROFIT & LOSS

1.    A man buys an item for Rs s30 and sells it at for Rs.36. Find his gain percent.

(a) 25%                             (b) 20%

(c) 30%                             (d) 25.5%

2.    If a shopkeeper is selling an item for Rs. 350 and at a gain of 25% find the cost price.

(a) Rs. 325                        (b) Rs. 240

(c) Rs. 280                         (d) Rs. 320

3.    A sells a good to B at a profit of 20% and B sells it to C at a profit of 25%, if C pays Rs.225 for it, what amount A paid for it.?

(a) Rs. 150                        (b) Rs. 430

(c) Rs. 250                        (d) Rs. 330

4.    By selling a horse for Rs.570, a tradesman loss of 5%.At what price must he sell it to gain 5%?

(a) Rs. 230                        (b) Rs. 430

(c) Rs. 330                        (d) Rs. 630

5.    By selling an article at a loss of 7% if A Purchase it again at a gain of 9%, it would have fetched Rs.64 more than it did. What was the cost price?

(a) Rs. 500                        (b) Rs. 400     

(c) Rs. 270                         (d) Rs. 350

6.    The profit earned on selling an article for Rs.634 is equal to the loss on selling the same article for 466 what is the cost price?

(a) Rs. 550                        (b) Rs. 230     

(c) Rs. 370                         (d) Rs. 350

7.    If a man purchases 11 oranges for Rs.10 and sells 10 oranges for Rs.11. how much profit or loss percent does he make?

(a) Rs. 23                          (b) Rs. 25

(c) Rs. 21                          (d) Rs. 20

8.    A person bought an article and sold it at a loss of 10%.If he had bought it for 20% less and sold it for Rs.77 more he would have had a profit of 40%.Find the cost price of the article.

(a) Rs. 450                        (b) Rs. 335     

(c) Rs. 370                         (d) Rs. 350

9.    If the value of an item depreciate 10% annually what will be its value in 2 years if present value is Rs.3500.

(a) Rs. 2350                      (b) Rs. 2835   

(c) Rs. 3480                      (d) Rs. 3775

10.  By selling an article for Rs 20.80 a dealer makes a profit of 30%. By how much should be increase his selling price so as to make a profit of 40%?

(a) Rs. 1.5                         (b) Rs. 1.6

(c) Rs. 1.3                         (d) Rs. 1.4

ANSWERS:

1.	(b)
2.	(c)
3.	(a)
4.	(d)
5.	(b)
6.	(a)
7.	(c)
8.	(d)
9.	(b)
10.	(b)