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TCS Profit and Loss Quiz-1

Question 1

Time: 00:00:00

Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

4 4/7 %

5 5/11%

10%

12%

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Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.

Selling Price (S.P.) = Rs. 5800.

Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.

Gain % = (300/5500)x 100% = 5 5/11 %

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CP=4700+800=5500 SP=5800 %Gain = (SP-CP/CP)*100 = (5800-5500/5500)*100 = 5 5/11%

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Question 2

Time: 00:00:00

The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

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Cost price of

20

articles

=

selling price of x articles

\Rightarrow 20 \times c . p = x \times s . p

.........

(1)

Profit

= 25 %

Profit

= S . P - C . P

Profit

% = S . P - C . P/ C.P \times 100 = 25

\Rightarrow S . P/C.P = 1 = 1/4

\Rightarrow 20/x - 1 = 1/4

(

∵

from

(1)

)

\Rightarrow 20/x = 5/4

\Rightarrow x = 16

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Let CP of 1 article is y. so CP of 20 articles is 20y. ....... since , profit is 25% : ..... so, SP of 1 article at 25% profit is = (125/100 ) * CP = (125/100) * y...... SP of x articles at 25% profit is = (125/100) * y * x ...... Now , According to the question : ...... CP of 20 articles = SP of x articles ...... 20y = (125/100) * y * x ...... x = 16.... ANSWER = 16....

CP=x SP=20 %profit=25 %profit=(SP-CP/CP)/100 after input and solving, x=16

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Question 3

Time: 00:00:00

In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

30 %

250%

100%

70%

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Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs. 420.

Profit = Rs. (420 - 125) = Rs. 295.

Required percentage = (295/450)x 100% =70% (approximately).

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Options are Incorrect. Explanation is also Incorrect. Answer is : Profit = 236 % .

Required percentage = (295/420)*100%=70%

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Question 4

Time: 00:00:00

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

Rs.1090

Rs.1160

Rs.1190

Rs.1202

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S.P. = 85% of Rs. 1400
= Rs. (85/100) * 1400
= Rs. 1190

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Question 5

Time: 00:00:00

Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:

30%

44%

33%

35%

None of these

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Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.

C.P. of 30 articles = Rs. (5/6)x 30= Rs. 25.

S.P. of 30 articles = Rs. (6/5)x 30= Rs. 36.

Gain % =(11/25)x 100% = 44%.

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Question 6

Time: 00:00:00

When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?

Rs. 25,300

Rs. 21,000

Rs. 22,500

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85 : 18700 = 115 : x
x = (18700 x 115)/85 = 25300.
Hence, S.P. = Rs. 25,300.

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Question 7

Time: 00:00:00

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:

No profit, no loss

10%

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C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.

S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.
Gain = (80/1600 )x 100 % = 5%.

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Question 8

Time: 00:00:00

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 :

14 2/7 % loss

14 2/7 % gain

15% loss

15% gain

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C.P. of 1 orange = Rs. 350/100 = Rs. 3.50
S.P. of 1 orange = Rs. 48/12 = Rs. 4
Gain% = (0.50/3.50)x 100% = 100/7%
= 14 2/7 %

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Question 9

Time: 00:00:00

If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425, what is the greatest possible profit that might be made in selling eight books ?

Rs.2000

Rs.2400

Rs.1800

Rs.1400

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Least Cost Price = Rs. (200 * 8) = Rs. 1600.
Greatest Selling Price = Rs. (425 * 8) = Rs. 3400.
Required profit = Rs. (3400 - 1600) = Rs. 1800.

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Cp=200 Sp=425 P=sp-cp P=425-200=225 Profit of one book is 225*8 1800

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Question 10

Time: 00:00:00

A farmer bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

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here Gain%=20
now formula is gain%=(gain*100)/cp
i.e 20=(gain*100)/1
i.e 20/100=gain
gain=0.2
so 6 tofees will be sold at 1.2 rs to gain 20%
0.20 for each toffee
i.e 5 toffess will be sold at 1 rs
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["0","40","60","80","100"]

["Need more practice! \r\n","Keep trying! \r\n","Not bad! \r\n","Good work! \r\n","Perfect! \r\n"]

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