Quant Quiz- Profit and Loss for SBI Clerk

Dear Bank Aspirants practice Quant Questions for upcoming SBI and other exams. Today's Topic is Profit and Loss, very important for SBI clerk point of view.

Practice Quant Quiz Set-7 for LIC , SO and railways

1).The SP of a TV set is marked at Rs. 17600 including sales tax at the rate of 10%. Find the sales tax.
a) Rs. 1600
b) Rs.1250
c) Rs. 1550
d) Rs. 1660

2).A shopkeeper purchases 11 knives in Rs. 10 and sells them at the rate of 10 knives for Rs. 11. He earns a profit of
a) 11%
b) 15 %
c) 20 %
d) 21 %

3).A tradesman marks his goods at such a price that after allowing a discount of 15%, he makes a profit of 20%. What is the mared price of an article whose cost price is Rs. 170 ?
a) Rs.220
b) Rs. 200
c) Rs. 240
d) Rs. 260

4).If a shopkeeper marks the price of goods 50% more than their cost price and allows a discount of 40%, what is his gain or loss per cent ?
a) 15 % loss
b) 10% loss
c) 10% gain
d) 15% gain

5).A bought a computer system for Rs. 40000 and sold it to B at a loss of 4%. If B sold it to C for Rs. 40320, profit percent for B is
a) 3
b) 6
c) 4
d) 5

6).The difference between the selling price of a shirt sold at profits 15% and 17% is Rs. 3. Then, the cost price of the shirt is
a) Rs. 175
b) Rs. 180
c) Rs. 200
d) Rs. 150

7).A salesman expects a gain of 13% on his cost price. If in a month his sale was Rs. 791000. What was his profit ?
a) Rs. 91000
b) Rs. 97786
c) Rs. 85659
d) Rs. 88300

8).A shopkeeper sells his goods at 10% discount on the marked price. What price should he mark on an article that costs him Rs. 900 to gain 10% ?
a) Rs. 1050
b) Rs. 1100
c) Rs. 1150
d) Rs. 1000

9).After allowing a discount of 12% on the marked price of an article, it is sold for Rs. 880. Find its marked price.
a) Rs. 1100
b) Rs. 2000
c) Rs. 1000
d) Rs. 2100

10).A trader marks his goods at 20% above the cost price. If he allows a discount of 5% for cash down payment, his profit per cent for such a transaction is
a) 15
b) 12
c) 14
d) 17


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



1). a Price of TV set = Rs. X, then
Given, (x × 110) / 100 = 17600
x = (17600 × 100) / 110 = Rs. 16000
Required sales tax = 17600 – 16000 = Rs. 1600

2).d  Percentage profit = [(11 × 11 – 10 × 10) / (10 × 10) ] × 100
= 21%

3). c SP = [(100 + profit%) × CP ] / 100
=[(100 + 20) × 170] / 100 = RS. 204
Now, marked price – 15% of marked price = SP
Let marked price = Rs. X
x – [ (15 × x) / 100 ] = 204
(100x – 15x) / 100 = 204
x = (204 / 85) × 100 = Rs. 240
Marked price = Rs. 240

4).  b) Let the cost price = Rs. 100
Then, marked price is 50% above CP
Marked price = [ (100 + 50%) × 100 ] / 100
= (150 × 100) / 100
= Rs. 150
Now, shop allowed 40% discount
Selling price = [ (100 – Discount%) × Marked price ] / 100
= [ (100 – 40) × 150 ] / 100
= (60 × 150) / 100 = Rs. 90
Clearly, shopkeeper had a loss as CP > SP
Loss per cent = (CP – SP) / CP × 100
= (100 – 90) / 100 × 100 = 10% loss

5). d Cost price of B = [ 100 – Loss × CP of A ] / 100
= [(100 – 4) × 40000] / 100 = Rs. 38400
Now, CP of B = Rs. 38400
B sell the computer to C at Rs. 40320
SP for B = 40320
Now, profit per cent = (SP – CP) / CP × 100
= (40320 – 38400) / 38400 × 100 = 5%

6). d) Let the cost price of shirt = Rs.x
Then, selling price at profit of 15%
= [ (100 + Profit) × CP ] / 100
= (100 + 15) × x / 100 = 115x / 100
Similarly, selling price at per cent of 17%
= [ (100 + 17) × CP ] / 100
= 117 × x / 100
= 117x / 100
Now, by given condition
117x / 100 – 115x / 100 = 3
(117x – 115x ) / 100 = 3
x = (100 × 3) / 2 = Rs. 150

7). a Gain = 13% Total SP = Rs. 791000
Now, CP = 100 × SP / (100 + gain%)
= (100 × 791000) / (100 + 13)
= 79100000 / 113 = Rs. 700000
Gain = SP – CP = 791000 – 700000 = Rs. 91000

8).b  Let marked price be Rs. X
SP = x × (90 / 100) = Rs. 9 / 10 x
Again, SP = 900 × (110 / 100) = Rs. 990
9 / 10 x = 990
x = (990 × 10) / 9 = Rs. 1100

9). c Suppose, marked price of the article be Rs. X
Then, 88% of x = 880
x × 88 / 100 = 880
x = Rs. 1000

10). c Suppose, cost price of the goods be Rs. 100
Marked price of the goods = Rs. 120
After 5% discount, selling price of the goods = 120 × (95 / 100) = Rs. 114
Profit per cent = (114 – 100) / 100 × 100 = 14%


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