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### Question 1

When 14 items are sold at an amount of Rs. 72, a loss equal to the cost of 6 items is incurred. What is the cost of one item?

### Question 2

The total cost of two cows is Rs. 1200. The owner sells the first cow at a profit of 45%, and the second one at a loss of 5%. If he sells them at the same price, what are the costs of the two cows?

**A**

Rs. 475 and 725.

**B**

Rs. 575 and 625.

**C**

Rs. 425 and 775.

**D**

Rs. 237 and 963.

**Soln.**

**Ans: a**

Let the costs of the cows be C and 1200 - C. The sale price is given as same. So (100 + 45) × C = (100 - 5) × (1200 - C). Simplifying, we get 145 × C = 95 × (1200 - C). Solving for C we get, C = Rs. 475. The cost of the other cow is 1200 - 475 = Rs. 725.

### Question 3

What should be the marked price of an item if a profit of 140% is to be made after allowing a discount of 20%?

### Question 4

A profit of 50%, as calculated on the cost price, is made by selling an item for Rs. 18. What is the profit in rupees?

**A**

Rs. 6.

**B**

Rs. 7.

**C**

Rs. 5.

**D**

Rs. 8.

**Soln.**

**Ans: a**

If cost is C, profit is P% and sale is S, then we know that C = $S/(1 + P/100)$. So the profit in rupees would be S - C = S - $S/(1 + P/100)$, which simplifies to ${S × P}/{100 + P}$, which is ${18 × 50}/{100 + 50}$ = Rs. 6.

__Shortcut Method__: If sale is 150, profit is Rs. 50. So if sale is 18, profit = Rs. $50/150$ × 18 = Rs. 6.

### Question 5

The total cost of two cows is Rs. 470. The owner sells the first cow at a profit of 45%, and the second one at a loss of 10%. If he sells them at the same price, what are the costs of the two cows?

**A**

Rs. 180 and 290.

**B**

Rs. 280 and 190.

**C**

Rs. 130 and 340.

**D**

Rs. 90 and 380.

**Soln.**

**Ans: a**

Let the costs of the cows be C and 470 - C. The sale price is given as same. So (100 + 45) × C = (100 - 10) × (470 - C). Simplifying, we get 145 × C = 90 × (470 - C). Solving for C we get, C = Rs. 180. The cost of the other cow is 470 - 180 = Rs. 290.

### More Chapters | See All...

Analogies | Venn Diagrams | Statements and Conclusions | Square and Cube Roots | Deductive Reasoning | Logarithms | Course of Action | Probability | Problems on Trains | Averages | More...

This Blog Post/Article "Profit and Loss Quiz Set 020" by Parveen (Hoven) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Updated on 2020-02-07. Published on: 2016-04-24