# Quants Questions : Profit and Loss Set 1

1. A manufacture undertakes to supply 2000 pieces of a particular component at Rs.25 per piece. According to his estimates, even if 5% fail to pass the quality tests, then he will make a profit of 25%. However as it turned out, 50% of the components were rejected. What is the loss to the manufacture? [TCS recruitment exam question]
A. Rs 12,000
B. Rs 13,000
C. Rs 14,000
D. Rs 15,000
E. None f these
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Explanation:
5% of 2000=100 so 2000-100=1900 so,if he sells 1900 he will get 25% profit
cost per piece rs 25……so 25x 1900 don’t solve here
if 125%…………………..25×1900
100 %………………….?
?= 25x1900x100/125=38000=CP
if 50% rejected,only 1000 pieces sold
so 1000×25=25000=SP
loss=cp-sp= 38000-25000=13000

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2. Shan bought 30 liters of milk at the rate of Rs.8 per liter. He got it churned after spending Rs.10 and 5kg of cream and 30 liter of toned milk were obtained. If he sold the cream at Rs.30 per kg and toned milk at Rs.4 per liter, his profit in the transaction is:
A. 20%
B. 8%
C. 30%
D. 40%
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Explanation:
CP =Rs.(30 x 8 + 10) = Rs.250
SP = Rs. (30 x 5 + 30 x 4) = Rs.270
Gain% = (20/250 x 100)% = 8%

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3. The sale price of an article including the sale tax is Rs. 616. The rate of sale tax is 10% . If the shopkeeper has made a profit of 12%, the cost price of the article is [The Pearson Guide book]
A. Rs 500
B. Rs 515
C. Rs 550
D. Rs 600
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Explanation – 110% of S.P. = 616
= S.P. = Rs.(616 x 100/110) = Rs.560.
C.P. = Rs (100/112 x 560)
= Rs 500

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4. When a article is sold for Rs.3400, there is a loss of 2%. What is the cost price of the commodity?
A. Rs 3500.50
B. Rs 3200
C. Rs 3400.56
D. Rs 3469.34
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Explanation – loss=2% so,
98%………….3400
100%………..?
?=(3400×100)/98=3469.34

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5. The marked price of a watch was Rs. 720.A man brought the same for Rs.550.80 after getting two successive discounts the first being 10% .What was the second discount rate?
A. 12%
B. 14%
C. 15%
D. 18%
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Explanation – Let the second discount rate be x% Then,
(100 – x)% of 90% of 720 = 550.80
=> (100 – x)/100 x 90/100 x 720 = 550.80
= (100-x) = [55080/(9 x 72) = 85
=> x= 15
second discount rate =15%

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6. Jagdeep bought a refrigerator with 20% discount on the labeled price. Had he bought at it with 30% discount, he would have saved Rs. 500 more. At what price did he buy the refrigerator?
A. Rs 5000
B. Rs 10,000
C. Rs 12,500
D. Rs 15,000
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Explanation – Let the labelled price be Rs.x Then,
(80% of x)- (70% of x) = 500
10% of x =500
10%………..500
100%…………? ?= (500 x 100/10) = 5000=x

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7. If the S.P of Rs.40 results in a 20% discount on list price. What S.P would result in a 30% discount on list price?
A. Rs 18
B. Rs 20
C. Rs 35
D. Rs 27
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Explanation – Let the list price be Rs. x
80/100x = 40
=> x = 40 x 100/80 = 50
∴ Required S.P. = 70% of Rs. 50=Rs.35

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8. A discount of 25% on one article is same as a discount of 50% on another article .The costs of two article can be:
A. Rs 30, Rs 20
B. Rs 90, Rs 40
C. Rs 80, Rs 40
D. Rs 50, Rs 40
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Answer – C. Rs 80, Rs 40
Explanation – Let the costs of the two articles be x and y. Then,
25% of x = 50% of y
=> x/y = 50/25 = 2/1
So,x and y must be in the ratio of 2:1

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9. A article is listed at Rs. 2000 and a discount of 20% is offered on the list price .What additional discount must be offered to the customer bring the net price to Rs. 1400?
A. 12.5%
B. 10%
C. 12%
D. 15%
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Explanation – S.P after 1st discount,
100%………2000
80%………?
?=2000×80/100=1600
Net S.P = Rs. 1400.
Discount on Rs. 1600 = Rs. 200.
∴Required discount = (200/1600 x 100)% =12.5%

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10. A shopkeeper gives 12% additional discount on the discounted price, after giving an initial discount of 20% on the labeled price of a mobile. If the final sale price of the mobile is 704. then what is its labelled price?
A. Rs 844
B. Rs 920
C. Rs 1000
D. Rs 1100
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Explanation – Let the labeled price be Rs. x
88% of 80% of x = 704
=> x = (704 x 100 x 100/88 x 80)= 1000.

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11. The difference between the cost price and sale price of an article is Rs. 500 if the profit is 20%. The selling price is:
A. Rs 4000
B. Rs 1500
C. Rs 3000
D. Rs 3300
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Explanation – 120%-100%=20%
20%…………………500
120%…………….?
?=3000

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12. A dealer sold a Radio at a loss of 2.5%. Had he sold it for Rs. 100 more, he would have gained 7.5%. To gain 12.5% he should sell it for :
A. Rs 2200
B. Rs 1000
C. Rs 1100
D. Rs 1125
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