**Dear Readers,**here we are providing some useful concept and tricks for Profit & Loss with concept clearing Quiz.Which can be very useful for SBI PO prelims,IBPS PO/Clerk, RBI Assistant,LIC ADO and many more government sector upcoming exams .

__The price at which an article is purchased is called its cost price (C.P.)__

**Cost Price**–**-The price at which the article is sold is called its selling price (S.P.)**

__Selling Price__**[x + y+ (x*y/100)]**

**[x – y – (x*y/100)]**

**(m-n)/n×100%**

**R×100 / (mx+ny+pz)**

**[{2mn/(m+n)p} -1]× 100**

**{x^2/100}%**

**(x +y – xy/100)%**

**(x – y –xy/100)%**

**Gain% = {(Error)/(True value – Error)x 100] %**

__Quiz Based on Concepts__**1. 1/3 of a commodity is sold at 15% profit, ¼ is sold at 20% profit and the rest at 24% profit. If the Total profit is Rs. 80 is earned then find the value of commodity?**

E) None of these

**2. A man purchases a certain no. of apple at 5 per rupee and same no. at 4 per rupee. He mixes them together and sells them at 4 per rupee. What is his gain or loss%?**

E) None of these

**3. A trader allows a Discount of 5% for cash payment. How much approx % above cost price must he mark his goods to make a profit of 10%?**

E) None of these

**4. If selling price is doubled, the profit triples. Find the profit percent?**

E) None of these

**5. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?**

E) None of these

**6. Abhishek purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?**

E) None of these

**7. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:**

E) None of these

**8. On selling 17 toys at Rs. 720, there is a loss equal to the cost price of 5 toys . The cost price of a Toy is**:

E) None of these

**9. A shopkeeper sells some articles at the profit of 25% on the original price. What is the exact amount of profit? To find the answer, which of the following information given in Statements I and II is/are Sufficent?**

**I. Sale price of the article**

**II. Number of articles sold**

**10. A man purchases 10 Cows at Rs. 3000 each. 1 Cow died. He sold 2 Cows at 5% loss, at what rate he should sale the remaining Cows, so as to gain a Profit of 10 % on the total Cost?**

**Answers**

**1).**C

**2)**. B

**3).**D

**4).**A

**5)**. D

**6).**B

**7).**C

**8).**B

**9).**C

**10).**C

**Explanation:**

**1.** Part sold at 24% profit = 1-(1/3+1/4) = 5/12

Value of commodity = (80×100) / (1/3*15+1/4*20+5/12*24)= 400

**2.** Gain or loss = [2*5*4/4(5+4) – 1] × 100 % = 11.11%

Sign is + ive so gain 11.11%

**3.** 10 = x-5 – 5x/100

19x/20 = 15; x=15.789% = approx 15.8%

**4.** Let C.P. be Rs. x and S.P. be Rs. y.

Then, 3(y – x) = (2y – x) y = 2x.

Profit = Rs. (y – x) = Rs. (2x – x) = Rs. x.

So profit % =100%

**5.** Let CP is x.

Then (1920-x)/x*100= (x-1280)/x*100

On solving x=1600

Selling Price = 1600*125/100= Rs. 2000

**6.** Cost price of 1 Toy = 375/12= 31.25

Selling price of 1 toy = Rs.33

Profit= Rs (33-31.25) =1.75

Profit% = 1.75/31.25*100= 5.6

**7.** Lcm of 5&6 =30

Cost price of 30 articles= 5/6*30 = 25

Selling Price of 30 articles = 6/5*30 =36

% profit = (36-25)/25*100= 44%

**8.** Cost price of 17 toys – Selling price of 17 toys = cost Price of 5 toys

Cost price of 12 toys = selling Price of 17 toys= 720

Cost price of 1 toy= 720/12= 60

**9.** Both I & II are sufficient to find the exact amount of profit .

**10.** Selling Price With Profit of 10 % of total cost = 3000*10*110/100= 33000

Selling Price of 2 cows with 5% loss= 6000*95/100= 5700

Difference = 33000-5700= 27300;

So rate of the cows for selling to gain 10% profit on total = 27300/7= Rs. 3900

(because 1 cow died so remaining= 10-1-2=7)