quants-profit-loss-quiz1

Profit & Loss Quiz-1

Dear Readers,

Maths is an important subject in CLAT,DULLB & Other Law Exams. In any of law exam, Maths carries weightage of 20 -25 % of questions. With focused practice good marks can be fetched from this section. These questions are very important in achieving your success in CLAT, DULLB and Other Law Exams..

Q1.  A man guys an article for Rs 27.50 and sells it for Rs28.60. Find his gain percent.

•  4%
•  5%
•  6%
•  7%

Solution
Gain=(28.6-27.50)/27.50=1/25=4%

Q2. If a radio is purchased for Rs 490 and sold for Rs 477.50. Find the loss percent

•  2%
•  3%
•  4%
•  2.5%

Solution
% Loss =(490-477.5)/490=0.025=25% 

Q3.By selling a book for Rs 115.20, a man loses 10%. At what price should he sell it to gain 5%?

•  Rs 150
•  Rs 145.50
•  Rs 134.40
•  Rs 165.50

Solution
SP of book = 115.20; Loss = 10%  CP=(100/90)x115.20=128
Gain = 5%; SP=(105/100)x128=134.4

Q4.  A trader lost 20% by selling a watch for Rs 1024. What percent shall he gain or lose by selling it for Rs 1472?

•  15%
•  20%
•  22%
•  35%

Solution

Loss = 20%; SP = 1024

CP =(100/100-L)x1024 =1280 SP=1472

GAIN={(1472-1280)/1280}x100=15%

Q5. By selling 33 metres of cloth, one gains the selling price of 11 metres. Find the gain percent.

•  34%
•  50%
•  55%
•  64%

Solution

SP of 33m = CP of 33m + P of 33m

= SP of 11m + CP of 33m

P of 33m = CP of 11m + P of 11m

CP of 11m = P of 22m Þ CP of 1m = P of 2m

P% = 1/2 = 50% 

Q6.A reduction of 20% in the price of sugar enables a purchaser to obtain 2.5 kg more for Rs 160. Find the original rate.

•   Rs 12.80
•   Rs 15.75
• Rs 16
•   Rs 12

Solution

Let Price = P Quantity = Q

PQ = (0.8P) (Q + 2.5) = 160

Þ P = 16 

Q7. A grocer purchased 80 kg of rice at Rs 13.50 per kg and mixed it with 120 kg rice at Rs 16 per kg. At what rate per kg should he sell the mixture to gain 16%.

•  Rs 18
•  Rs 18.50
•  Rs 17.40
•  Rs 19

Solution
(80x13.5+120x16)/(80+120)=15

To gain 16% Þ 15 x 1.16 = 17.4 

Q8. A vendor sells 10 toffees for a rupee, gaining thereby 20%. How many did he buy for a rupee?

•  12
•  10
•  11
•  14

Solution

CP of 10 toffees Þ 0.2 = (SP-CP)/CP= (1-CP)/CP 

            CP = 1/1.2    therefore  CP of 12 toffees = Re 1 

Q9.A vendor bought lemons at 6 for a rupee. How many for a rupee must he sell to gain 20%?

•  2
•  3
•  4
•  5

Solution
P=(SP-CP)/CPÞ 0.2 =[{(1/n)-(1/6)}/{1/6}]Þ(1/ n)=1.2/6=1/5

Q10.A vendor bought a number of bananas at 6 for 5 rupees and sold at 4 to 3 rupees. Find his gain percent.

•   10%
•  -10%
•    5%
•   -5%

Solution

CP of 1 Banana = 5/6; SP of 1 Banana = 3/4

Gain % = {(3/4)-(5/6)}x {100/(5/6)} = -10%