GMAT Sample Questions

Quantitative Section : GMAT Sample Problem Solving Ability

Profit and Loss

241. A trader makes a profit equal to the selling price of 75 articles when he sold 100 of the articles. What % profit did he make in the transaction?
     1. 33.33%
     2. 75%
     3. 300%
     4. 150%

     Ans : C

242. A merchant buys two articles for Rs.600. He sells one of them at a profit of 22% and the other at a loss of 8% and makes no profit or loss in the end. What is the selling price of the article that he sold at a loss?
     1. Rs. 404.80
     2. Rs. 440
     3. Rs. 536.80
     4. Rs. 160

     Ans : A

243. A trader professes to sell his goods at a loss of 8% but weights 900 grams in place of a kg weight. Find his real loss or gain per cent.
     1. 2% loss
     2. 2.22% gain
     3. 2% gain
     4. None of these

     Ans : B

244. Rajiv sold an article for Rs.56 which cost him Rs.x. If he had gained x% on his outlay, what was his cost?
     1. Rs. 40
     2. Rs. 45
     3. Rs. 36
     4. Rs. 28

     Ans : A

245. A trader buys goods at a 19% Aount on the label price. If he wants to make a profit of 20% after allowing a Aount of 10%, by what % should his marked price be greater than the original label price?
     1. +8%
     2. -3.8%
     3. +33.33%
     4. None of these

     Ans : A

246. If apples are bought at the rate of 30 for a rupee. How many apples must be sold for a rupee so as to gain 20%?
     1. 28
     2. 25
     3. 20
     4. 22

     Ans : B

247. One year payment to the servant is Rs. 200 plus one shirt. The servant leaves after 9 months and recieves Rs. 120 and a shirt. Then find the price of the shirt.
     1. Rs. 80
     2. Rs. 100
     3. Rs. 120
     4. Cannot be determined

     Ans : C

248. Two merchants sell, each an article for Rs.1000. If Merchant A computes his profit on cost price, while Merchant B computes his profit on selling price, they end up making profits of 25% respectively. By how much is the profit made by Merchant B greater than that of Merchant A?
     1. Rs.66.67
     2. Rs. 50
     3. Rs.125
     4. Rs.200

     Ans : B

249. A merchant marks his goods in such a way that the profit on sale of 50 articles is equal to the selling price of 25 articles. What is his profit margin?
     1. 25%
     2. 50%
     3. 100%
     4. 66.67%

     Ans : C

250. A merchant marks his goods up by 75% above his cost price. What is the maximum % Aount that he can offer so that he ends up selling at no profit or loss?
     1. 75%
     2. 46.67%
     3. 300%
     4. 42.85%

     Ans : D