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SSC MTS Profit and Loss Quiz Day 3

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SSC MTS Profit and Loss Quiz Day 3

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Profit and Loss is an important topic of Quantitative Aptitude section. The article SSC MTS Profit and Loss Quiz Day 3 Consists of different types Profit Loss and Discount questions with solutions useful for candidates preparing for different competitive examinations like SSC, IBPS PO Exams, RRB ALP/Technical Exams/Junior Engineer Recruitment Exams and etc.


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1. A person bought 20 pens at Rs 12 each and sold 5 of them at Rs 10 and other 7 at Rs 14 and remaining at Rs 11. What is the profit/loss percentage ?

    A. 1.66%
    B. 2.33%
    C. 1.33%
    D. 2.66%


Answer: Option A

Explanation:
Total cost price = 20 × 12
= 240
Total selling price = 5 × 10 + 14 × 7 + 8 × 11
= 50 + 98 + 88
= 236
Loss percent = 240 – \(\frac{236}{240}\) × 100
= 1.66%


2. Marked price of an article is Rs 300 and a discount of 20% is given. If profit percent is 20% then what is the cost price ?

    A. Rs 210
    B. Rs 200
    C. Rs 180
    D. Rs 220


Answer: Option B

Explanation:
MP = 300
SP = MP – discount
SP = 300 × \(\frac{80}{100}\)
SP = 240
Cost price = 240 × \(\frac{100}{120}\)
Cost price = Rs 200


3. Arif sold his two mobiles for Rs 5000 each without any profit or loss. If he sold one of the mobile at 20% loss then at what profit percent should he sell the other mobile ?

    A. 25%
    B. 20%
    C. 30%
    D. 35%


Answer: Option A

Explanation:
Total SP = 10000
Cost price of First mobile = 5000(\(\frac{100}{80}\))
= 6000
Selling price of Second mobile = 5000
Cost price of Second mobile = 10000 – 6000
= 4000
Profit percent = 5000 – \(\frac{4000}{4000}\) × 100
= 25%


4. A person purchased 20 apples for Rs 11 each and sold each apple at a different price,every price is between 1 and 20 both inclusive then what is his loss/profit percent?

    A. \(\frac{50}{11}\) %
    B. \(\frac{40}{11}\) %
    C. \(\frac{60}{11}\) %
    D. \(\frac{70}{11}\) %


Answer: Option A

Explanation:
Total Cost price = 20 × 11
= 220
As we have 20 different prices and 20 apples and eah apple is sold at a different price and so
Total SP = 1 + 2 + 3 + 4 ….. 20
= \(\frac{20(20 + 1)}{2}\)
= 210
Loss percent = \(\frac{220 – 210}{220}\) × 100
= \(\frac{50}{11}\)%


5.The cost price of 40 articles is the same as the selling price of 25 articles. Find the gain per cent

    A. 65%
    B. 60 %
    C. 15 %
    D. 75%


Answer: Option B

Explanation:
If the cost price of x articles is equal to the selling price of y articles, then the profit percentage

= \(\frac{x – y}{y}\) × 100%.

x is the number of articles the cost price of which is given = 40

y is the number of articles the selling price of which is given = 25

By the short trick approach, we get

Gain% = \(\frac{40 – 25}{25}\)4×100 = \(\frac{15}{25}\) × 100= 60%

1. A shopkeeper gains 17% after allowing a discount of 10% on the marked price of an article. Find his profit percent if the article is sold at marked price allowing no discount.

    A. 30%
    B. 37%
    C. 23%
    D. 27%


Answer: Option A

Explanation:

\(\frac{(x + y)}{100 – y}\) × 100%

where x = gain% after allowing the discount = 17%,

And y = discount offered on marked price = 10%

Now, on putting values of x and y in the short trick approach, we get

= \(\frac{17 + 10}{100 – 10}\) × 100 = \(\frac{27}{90}\) × 100 = 30%.


2. Cost price of 100 books is equal to the selling price of 60 books. The gain percentage or loss percentage is:

    A. 66 \(\frac{3}{2}\)%
    B. 67%
    C. 66%
    D. 66 \(\frac{2}{3}\)%


Answer: Option D

Explanation:
To solve this question, now we can apply a short trick approach

Gain% or Loss% = \(\frac{x – y}{y}\) × 100%

x is the number of books the cost price of which is given = 100

y is the number of books the selling price of which is given = 60

By the short trick approach, we get

Gain percentage = \(\frac{100 – 60}{60}\) × 100% = \(\frac{40}{60}\) × 100%

= 66 \(\frac{2}{3}\)%.


3. List price of a book is Rs 100. A dealer sells three such books for Rs 274.50 after allowing discount at a certain rate. Find the rate of discount.

    A. 8.5%
    B. 8.34%
    C. 8.33%
    D. 8.16%


Answer: Option A

Explanation:
Discount% = CP – SP × 100%
CP = \(\frac{300 – 274.50 }{300}\) × 100 = \(\frac{25.50}{3}\) = 8.5%.


4. The printed price of an article is 40% higher than its cost price. Then the rate of discount so that he gains 12% profit is:

    A. 21%
    B. 18%
    C. 20%
    D. 15%


Answer: Option C

Explanation:
Let’s assume CP = 100, therefore MP = 140 and SP = 112.

Discount% = \(\frac{MP – SP}{MP}\) × 100%

{As discount is always calculated on Marked Price.}

= \(\frac{140 – 112}{140}\) × 100 = \(\frac{28 × 100}{140}\) = 20%.


5. Mohan sold his watch at 10% loss. If he had sold it for Rs. 45 more, he would have made 5% profit. The selling price (in Rs.) of watch was

    A. 300
    B. 900
    C. 110
    D. 270


Answer: Option D

Explanation:
Let the original SP = x

Therefore, new SP = (x + 45)

New SP = \(\frac{100 + Profit%}{100 – Discount%}\) × old SP

⇒ \(\frac{(x + 45)}{100 – 10}\) = 100 + 5 × x

⇒ \(\frac{(x + 45)}{90}\) = 105 × x
⇒ 90x + 90 × 45 = 105x

⇒ 15x = 90 × 45 ⇒ x = \(\frac{90 × 45}{15}\) = 270.

1. A vendor loses the selling price of 4 oranges on selling 36 oranges. His loss per cent is

    A. 12 \(\frac{1}{2}\)%
    B. 9%
    C. 10%
    D. 11 \(\frac{1}{2}\)%


Answer: Option C

Explanation:
Given,

In case of loss,

36 CP – 36 SP = 4 SP

⇒ 36 CP = 40 SP

To solve this question now, we can apply a short trick approach

Gain% or Loss% = \(\frac{x – y}{y}\) × 100%

x is the number of oranges the cost price of which is given = 36

y is the number of oranges the selling price of which is given = 40

By the short trick approach, we get

Loss% = \(\frac{36 – 40}{40}\) × 100% = \(\frac{–4}{40}\) × 100% = – 10%.


2.The total discount on Rs. 1860 due after a certain time at 5% is Rs. 60. Find the time after which it is due

    A. 9 months
    B. 10 months
    C. 8 months
    D. 7 months


Answer: Option C

Explanation:

Amount (A) = 1860/-, True Discount = 60/-, Rate of interest (R) = 5%

Time (T) = 100 ×\(\frac{TD}{(A – TD) × R}\) = 100 × \(\frac{60}{(1860 – 60) × 5 1800 × 5}\)
⇒ T = \(\frac{100 × 60}{3}\) = 2 years

Total months = \(\frac{12 × 2}{3}\) = 8 months.


3. Simon purchased a bicycle for Rs. 6810. He had paid a VAT of 13.5%. The list price of the bicycle was

    A. Rs. 5970.50
    B. Rs. 6696.50
    C. Rs. 6000
    D. Rs. 6140


Answer: Option C

Explanation:
let’s take the original price (list price) of the bicycle be x, then

113.5% of x = 6810 ⇒ x = \(\frac{6810 × 100}{113.5}\) = \(\frac{6810 × 1000}{1135}\) = 6000/-


4. There is 10% loss if an article is sold at Rs. 270. Then the cost price of the article is

    A. Rs. 320
    B. Rs. 300
    C. Rs. 270
    D. Rs. 250


Answer: Option B

Explanation:
let’s take CP = x, then

90% of x = 270 ⇒ x = \(\frac{270 × 100}{90}\) = 300/-


5. An article is sold at a gain of 15%. Had it been sold for ₹ 27 more, the profit would have been 20%. The cost price of the article is

    A. Rs. 500
    B. Rs. 700
    C. Rs. 540
    D. Rs. 545


Answer: Option C

Explanation:
Let the CP of article be Rs x, then

120% of x – 115% of x = 27

⇒ 5% of x = 27

⇒ x = \(\frac{27 × 100}{5}\) = Rs. 540



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