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Profit & Loss Aptitude Questions

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 % = \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= 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’
\because \left ( 100-7 \right )%x =651
\because x=\frac{651}{93}\times 100=Rs.700
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]8\frac{1}{5}%
[B]7%
[C]8\frac{2}{5}%
[D]7\frac{1}{7}%

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 = 9\times 75=Rs. 675.
Gain %= \frac{45}{630}\times 100= \frac{50}{7}= 7\frac{1}{7} %
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 = \frac{100}{95}x=Rs. \frac{20}{19}x
∴Gain = \frac{20x}{19}-x=Rs. \frac{x}{19}
∴ Gain percent =\frac{\frac{x}{19}}{x}\times 100=5.26%
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 = \frac{20}{80}\times 100 = 25%
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 = \frac{100}{100-loss percent}\times S.P
=\frac{100}{96}\times 960=1000

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 = \left ( \frac{13.20}{110}\times 100 \right ) %= \frac{1320}{110} %=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 % = \left ( \frac{98}{1960}\times 100 \right ) %= 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]25\%
[B]133 \frac{1}{3}
[C]33 \frac{1}{3}
[D]30\%

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



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