Profit & Loss Practice Set for IBPS PO 2017: Part -1

Directions (Q.1-4):
A shopkeeper has some kg. rice of same price. He sold 150 kg. rice at 25 Rs. per kg. and earned a profit of 25%, another 180 kg. rice is sold at a profit of 20% and rest are sold at a loss of 10%. If the shopkeeper earns Rs. 1230 profit on all the rice that he has sold then answers the following question:

Q.1 Find the quantity of those rice that are sold at a loss of 10%. 

A. 110 kg. 

B. 125 kg.
C. 150 kg.
D. 120 kg.
E. 115 kg.

Q.2 What is the total quantity of rice that the shopkeeper has? 

A. 400 kg. 

B. 450 kg.
C. 500 kg.
D. 480 kg.
E. None of these

Q.3 If the shopkeeper earns 10% profit instead of 10% loss on the rest rice then find the difference between the old and new profit. 

A. 450 Rs. 

B. 400 Rs.
C. 480 Rs.
D. 420 Rs.
E. None of these

Q.4 If the shopkeeper sells his all rice at a profit of 20%, find the new profit. 

A. 1800 Rs. 

B. 2000 Rs.
C. 1500 Rs.
D. 1900 Rs.
E. 2100 Rs.

Answers With Solution:

1. Ans. D. 

Solution: 

C.P. of rice = 25/125×100 

=20 Rs. per kg.
S.P. – C.P. = Profit
(150×25+180×20×120% - x×90%×20) – [(150+180+x)×20] = 1230
3750+4320-18x – [(330+x)×20] = 1230
8070-18x – 6600-20x = 1230
-2x = 1230+6600-8070
2x = 240
X = 120 kg.

2. Ans. B. 

Solution: 

The rice that is sold at a loss of 10% is 120 kg. 

150+180+120 = 450 kg.

3. Ans. C. 

Solution: 

Profit = 150×20×25%+180×20×20%+120×20×10%
=750+720+240
=1710
Old profit = 1230
Difference= 1710-1230
=480 Rs.

4. Ans. A. 

Solution: 

Total rice = 120+150+180 

=450 kg.
New profit = 450×20×20%
=1800 Rs.