Profit and Loss Quiz 10

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Profit and Loss Quiz 10

Introduction

Profit and Loss is one of important topic in Quantitative Aptitude Section. In Profit and Loss Quiz 10 article candidates can find questions with answer. By solving this questions candidates can improve and maintain, speed, and accuracy in the exams. Profit and Loss Quiz 10 questions are very useful for different exams such as IBPS PO, Clerk, SSC CGL, SBI PO, NIACL Assistant, NICL AO, IBPS SO, RRB, Railways, Civil Services etc.

Q1

A scientist mixes 10% water in his solution but he is not content with it so he again mixes 10% more water in the previous mixture. What is the profit percentage of the scientist if he sells it at cost price:
A. 15% B. 21% C. 18% D. 16%

B
Let Initial Quantity of Solution = 100 litre
After mixing 10% water, Quantity of the mixture = $110 \times \frac {110}{100}$ = 121 litre
CP of One litre of Solution = Rs.1
Total CP = Rs.100
Total SP = Rs.121
Profit = 121 – 100 = 21
Profit % = $21 \times \frac {100}{100}$ = 21%

Q2

A fruit vendor professes to sell fruits at the cost price, but uses false weights. He gains 40% in this manner. What weight does he substitute for one kilogram?
A. 745 1/3 g B. 750 g C. 714 2/7 g D. 800 g

C
Let the weight substituted for 1 kg = xg
So, $\frac {100 - x}{x} \times 1000 = 40$
Solving x = 714 $\frac {2}{7}$ g

Q3

A trader sells Rice to a customer at a profit of x% over the cost price, besides if he cheats his customer by giving 950 g instead of 1Kg. Thus his overall percentage is 20%. Then what is the value of x?
A. 10 B. 12 C. 14 D. 15

C
$1000 \times (100 + \frac {x}{100}) = 950 \times \frac {120}{100}$
x = 14

Q4

The profit Percentage on 3 bikes are 15%, 35% and 10% and the ratio of CP is 5:3:1. Also the ratio of the Bike sold of P, Q and R is 2:3:5. Then the overall approximate Profit Percentage is?
A. 19% B. 20% C. 16% D. 21%

D
$5x \times 2y + 3x \times 3y + x \times 5y = 24xy$
Total Profit = $(5x \times 2y \times \frac {15}{100} )+(3x \times 3y \times \frac {35}{100})+(x \times 5y \times \frac {10}{100})$
= $\frac {515xy}{100}$
= 5.15xy
Overall Profit Percentage = $5.15xy \times \frac {100}{24xy}$ = 21.46%

Q5

When a shopkeeper reduces the selling price of an article from 1180 to 1126 his loss increases by 5% . What is the cost price of article?
A. 1050 B. 1060 C. 1070 D. 1080

D
5% of CP = 1180 – 1126
CP = $54 \times \frac {100}{5}$ = 1080

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