Profit and Loss

PROFIT AND LOSS

1.       Ms Rogers bought an electric range on the installment plan . The cash price of theb range was $400.The amount she paid was $120 down and 12 monthly payments of $28 each.

Column A : The amount she paid for the electric range in excess of the cash price

Column B : $56

2.       Column A : A bonus of $450 plus a 9 percent increase in annual salary.

       Column B : A bonus of $500  plus a 8.5 percent increase in annual salary.

3.       A discount of 40 percent of the original selling price of an item reduces the price to $72.

Column A : The original selling price of the item          Column B: $120

4.       The cost,  in dollars, of manufacturing x refrigerators is 9000 + 400x . The amount received when selling these x refrigerators is 500x   dollars. What is the least number of refrigerators that must be manufactured and sold so that the amount received is atleast equal to the manufacturing cost?

(A)   10     (B) 18   (C) 45    (D) 90    (E) 100

5.       The toll for a certain bridge is $0.15 or 1 token.

Tokens are sold in packs of 40 for $4.00.

Column A : The percent saved on 40 trips across the bridge if a token, rather than $0.15, is used to pay each toll

Column B: 66 2/3 %

6.                                   d>0

Column A : The total interest earned on d dollars invested for 3 months at 11 percent simple annual interest .

Column B :  (60) dollars

7.       Maria’s weekly net salary of $85 is 65 percent of her weekly gross salary.

Column A : Maria’s weekly gross salary                     Column B : $900

8.       Three individuals contributed $800 each towards purchase of a computer. If they bought the computer on sale for $1950 plus 10 percent sales tax, how much money should be refunded to each individual?

(A)   $65      (B) $85         (C) $150          (D)$195          (E) $255  

9.       A hardware store purchased identical snow shovels at a cost of $9 a piece and sold each of them for 20 percent above cost.

Column A : The price at which the hardware store sold each shovel     Column B : $10.80

10.   The price of a pen is (10x + y ) cents, the price of a notebook is (10y + x ) cents, and the sum of the two prices is $1.43.

Column A : x                       Column B :  y

11.   Karl’s net income is always 80 ppercent of his gross income. What will be the increase in Karl’s net income when his gross income increases from $20,000 to $25,000 ?

(A)   $5,000      (B) $4,000         (C) $3,000          (D)$2,000          (E) $1,000

12.   The selling price of a certain book is $12.00. For each copy of the book sold, the author receives $2.40. What percent of the selling price does the author receive?

(A)   20%          (B)   5 %     (C)  2 %    (D) 0.5 %   (E) 0.2 %

13.   If checks of $455 and x dollars are deducted from a  checking account that has a balance of $800, then  $305 of the balance will be left.

Column A :  x                   Column B : 45

14.   A purchase plan for a stereo receiver requires 20 percent of the total cost as a  down payment and monthly payments of $30.

Column A :  The total cost of the stereo receiver          Column B : $450

15.   Lila purchased a hat and a scarf for a total of $40.She received a 25  percent discount on the price of the scarf and a 15 percent discount on the price of the hat .

 Column A :  The amount Lila saved on the scarf    Column B : The amount Lila saved on the hat

16.   For each home in Town X , the amount of property tax is p percent of the value of the home . The property tax on a home whose value is $45,000 is $1,200.

Column A :The property tax on a home in Town X whose value is $54,000      Column B : $1,300

17.   Betty spent $75 for a bicycle and she also spent $27 repairing it.She then sold for $120.

Column A : The money Betty received in excess of the total amount she spent

Column B : $20

18.   The price per pair of brand X socks is $2 and the price per pair of brand Y socks is $3. If there is no sales tax and a customer chooses only among two brands , What is the greatest number of pairs of socks that he can buy with exactly $25 ?

(A) 9         (B) 10        (C) 11       (D) 12       (E) 20

19.   A decrease in the number of sales personnel in Company K to 85 percent of the original sales force resulted in a decrease of 500 in the number of monthly sales.

Column A : The percent decrease in the number of company K’s monthly sales

Column B : The percent decrease in the number of company k’s sales personnel.

20.   A merchant made a profit of $2.75 on the sales price of a sweater that cost the merchant $12.25

Column A : The profit expressed as a percent of the cost to the merchant

Column B : The profit expressed as a percent of the sale price

21.   A consumer insulates a house with material bought at 20 percent off the list price of $370.If the consumer also receives a rebate of $25 from the manufacturer of the material , how much does the material cost the consumer?

(A)   $238       (B) $240          (C) $263          (D)$271          (E) $325

22.   A band is paid $700 per concert. The leader receives 25 percent of this amount and the other 5 members share the rest equally. How much does each of the 5 members  receive?

(A)   $525        (B) $175          (C) $140          (D)$112          (E) $105

23.   In a certain shipment 2 percent of the boxes shipped were damaged. If the loss per damaged box was $35 and the total loss due to damage was $700, how many boxes were shipped?

(A) 2,000         (B) 1,000        (C) 200      (D) 100       (E) 20