Profit & Loss

Profit and Loss Quantitative Aptitude Questions and Answers with video solution and explanation for competitive examinations. Each question is followed by a video solution for better understanding and practice.

1.

A man bought an old typewriter for Rs.1200 and spent Rs. 200 on its repair. He sold it for Rs. 1680. His profit percent is :
[A]20%
[B]10%
[C]8%
[D]16%

20%
Total cost of typewriter = Rs. (1200+200) = Rs.1400.
S.P= Rs.1680
Profit = Rs.(1680-1400) = Rs.280
Hence profit % = $latex \frac{280}{1400}\times 100= 20$%
So option [A] is correct.

2.

A man buys a mobile for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle.
[A]Rs. 1202
[B]Rs. 1190
[C]Rs. 1160
[D]Rs. 1600

Rs. 1190
S.P= $latex 1400\times \frac{100-15}{100}=1400\times \frac{85}{100}= Rs. 1190$
Hence option [B] is the right answer.

3.

On selling a chair for Rs. 651, There is a loss of 7%. The cost price of that chair is :
[A]Rs. 744
[B]Rs. 751
[C]Rs. 793
[D]Rs. 700

Rs. 700
Let the C.P of chair be ‘x’
$latex \because \left ( 100-7 \right )%x =651$
$latex \because x=\frac{651}{93}\times 100=Rs.700&s=2$
Hence option [D] is the right answer.

4.

A milkman bought 70 liters of milk for Rs. 630 and added 5 liters of water. If he sells it at Rs. 9.00 per liter, his profit percent is :
[A]$latex 8\frac{1}{5}$%
[B]$latex 7$%
[C]$latex 8\frac{2}{5}$%
[D]$latex 7\frac{1}{7}$%

$latex 7\frac{1}{7}$%
C.P of 75 liters of mixtures of milk and water = Rs. 630.
S.P of 75 liters of mixtures of milk and waete = $latex 9\times 75$=Rs. 675.
Gain %= $latex \frac{45}{630}\times 100= \frac{50}{7}= 7\frac{1}{7}&s=2$ %
Hence option [D] is the right answer.

5.

If the cost price is 95% of the selling price. What is the profit percent?
[A]4%
[B]4.75%
[C]5%
[D]5.26%

5.26%
If the cost price be Rs x, Then
S.P = $latex \frac{100}{95}x&s=2$=Rs. $latex \frac{20}{19}x&s=2$
∴Gain = $latex \frac{20x}{19}-x=Rs. \frac{x}{19}&s=2$
∴ Gain percent =$latex \frac{\frac{x}{19}}{x}\times 100=5.26&s=2$%
Hence option [D] is the right answer.

6.

If the cost price of an article is 80% of its selling price, the profit percent is :
[A]20%
[B]23%
[C]24%
[D]25%

25%
S.P=Rs. 100
C.P=Rs. 80
∴Gain = Rs. 20
∴Gain Percent = $latex \frac{20}{80}\times 100 = 25&s=1$%
Hence option [D] is correct.

7.

By selling an article for Rs. 960 a man incure a loss of 4% what was the cost price?
[A]Rs. 1000
[B]Rs. 784
[C]Rs. 498.4
[D]Rs. 300

Rs. 1000
C.P of article = $latex \frac{100}{100-loss percent}\times S.P &s=1$
$latex =\frac{100}{96}\times 960=1000&s=1$

8.

A man buys a book for Rs. 110 and sells it for Rs. 123.20. Find his gain percent.
[A]8%
[B]12%
[C]14%
[D]16%

12%
Since C.P=Rs. 110, S.P=Rs. 123.20
So gain = Rs.(123.20-110)=RS. 13.20
Therefore Gain Percent = $latex \left ( \frac{13.20}{110}\times 100 \right )&s=1$ %= $latex \frac{1320}{110}&s=1$ %=12%.
Hence option [B] is the right answer.

9.

If a cycle is purchased for Rs. 1960 and sold for Rs. 1862. Find the loss percent.
[A]4%
[B]3%
[C]5%
[D]6%

5%
C.P=Rs. 1960, S.P=Rs. 1862
Loss=1960-1862=Rs. 98.
Hence Loss % = $latex \left ( \frac{98}{1960}\times 100 \right )&s=2$ %= 5%
Hence option [C] is the right answer.

10.

By what per cent must the cost price be raised in fixing the sale price in order that there may be a profit of 20% after allowing a commission of 10%?
[A]$latex 25\%$
[B]$latex 133 \frac{1}{3}&s=1$
[C]$latex 33 \frac{1}{3}&s=1$
[D]$latex 30\%$

$latex \mathbf{33\frac{1}{3}}&s=1$
Let the CP = 100 Rs.
Then, SP = 120 Rs.
Let the marked price = x Rs.
Then, 90% of x = 120 Rs.
$latex => x = \frac{120\times 100}{90}&s=1$
$latex = \frac{400}{3} = 133\frac{1}{3}\%&s=1$
Hence, the marked price is $latex 33\frac{1}{3}\%&s=1$ above the cost price.



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