Profit and Loss Questions - Quantitative Aptitude

Hi readers,

Yesterday I shared Profit and loss tricks. Few readers asked me to share questions with solution. Read all the Quantitative Aptitude Shortcuts here.

  

Q1.  When a commodity is sold for Rs.34.80. there is a loss of 25%. What is the cost price of the commodity?

a) Rs.26.10                  b) Rs.43                                   c) Rs.43.20     

d) Rs.46.40                  e) None of these

Ans. Option D

C.P.                  = Rs. [100/75× 34.80]

                                    = Rs.46.40

Q2. A wheat seller sells wheat at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%?

a) Rs.11.81                  b) Rs.12                                   c) Rs.12.25     

d) Rs.12.31                  e) None of these

Ans. Option A

85 : 9 = 105 : x

            x =  [9 × 105/80]

            = Rs.11.81

Hence, S.P. per kg       = Rs.11.81

Q3.  A merchant give 12% additional discount on the discounted price, after giving an initial discount of 20% on the labeled price of a radio. If the final sale price of the radio is Rs.704, then what is its labeled price?

a) Rs.844.80                b) Rs.929.28                            c) Rs.1000      

d) Rs.1044.80              e) None of these

Ans. Option C

Let the labeled price be Rs.x

88% of 80% of x   = 704

                                                x = [704 × 100 × 100/88 × 80]

                                                = 1000

Q4. By selling a doll for Rs.15, a man loses one sixteenth of what it costs him. The cost price of the doll is:

a) Rs.16                       b) Rs.18                                   c) Rs.20                      

d) Rs.21                       e) None of these

Ans. Option A
Let the C.P. be Rs. x.
 Then x ⎯ 15       = x/16

                                                                        = x ⎯ x/16 = 15

                                                                        = 15x/16 = 15

                                                                        x = 16

Therefore, C.P. = Rs.16

Q5. Deepshikha bought a microwave oven and paid 10% less than the original price. She sold it with 30% profit on the price she had paid. What percentage of profit did Deepshikha earn on the original price?

a) 17%                         b) 20%                                     c) 27%            

d) 32%                         e) None of these

Ans. Option A

 Let the original price                = Rs.100

            Then, C.P.                                = Rs.90

            S.P. = 130% of Rs.90              = Rs.[130/100× 90]

                                                            = Rs.117

            Required percentage                = (117 ⎯ 100)%

                                                            = 17%

Q6. Saksham bought a suitcase with 15% discount on the labeled price. He sold the suitcase for Rs.2880 with 20% profit on the labeled price. At what price did he buy the suitcase?

a) Rs.2040                   b) Rs.2400                               c) Rs.2604      

d) Rs.2640                   e) None of these

Ans. Option A

 Let the labeled price be Rs.x. Then, 120% of x = 2880

            Therefore                                                         x = [2880 × 100/120]

                                                                                    = 2400

            C.P. = 85% of Rs.2400                                                = Rs. [85/100× 2400]

                                                                                    = Rs.2040

Q7. Ruchika gain 70 paise on Rs.70. Her gain percent is:

a) 0.1%                                    b) 1%                                       c) 7%              

d) 10%                         e) None of these

Ans. Option B

Gain %                        = [0.70/70× 100]%

                                    = 1%

Q8.  A shopkeeper buys 100 eggs at Rs.1.20 per piece. Unfortunately 4 eggs got spoiled during transportation. The shopkeeper sells the remaining eggs at Rs.15 a dozen. Find his profit or loss?

a) Rs.120                     b) 102                                      c) 201             

d) 121                          e) None of these

Ans. Option A

 Cost price of all eggs               = Rs.100 × 1.2 = Rs.120

            Selling price of one egg                       =15/12   = 1.25

So, selling price of 96 eggs                        = 96 × 15/12 = Rs.120

Q9.  A dealer sold three-fourth of his articles at a gain of 20% and the remaining at cost price. Find the gain earned by him in the whole transaction.

a) 18%                         b) 22%                                     c) 15%            

d) 25%                         e) None of these

Ans. Option C

 Let C.P. of whole be Rs. x

C.P. of 3/4 th = Rs. 3x/4, C.P. of 1/4th = Rs. x/4

            Total S.P. = Rs. [(120% of 3x/4) +x/4] = Rs. [9x/10+ x/4]= Rs.23x/20

Gain = Rs.[ 23x/20⎯ x]= Rs. 3x/20

So, gain% =  [3x/20× 1/x × 100]% = 15%

Q10.    Each of Ankit and Baldev sold their article at Rs.1818 but Ankit incurred a loss of 10% while Baldev gained by 1%. What is the ratio of cost price of the articles of Ankit to that of Baldev?

a) 101 : 90                   b) 85 : 89                                 c) 81 : 75        

d) 75 : 81                     e) None of these

Ans. Option A

CP of A           = 1818/0.9 = 2020

           

CP of B            = 1818/1.01 = 1800

      CP of A/CP of B = 2020/1800 = 101/90

Q11. MRF charges a fixed rental of Rs.350 per month. It allows 200 calls free per month. Each call is charged at Rs.1.4 when the number of calls exceeds 200 per month and it charges Rs.1.6 when the number of calls exceeds 400 per month and so on. A customer made 150 calls in February and 250 calls in March. By how much percent the each call is cheaper in March than each call in February?

a) 28%                         b) 25%                                     c) 18.5%         

d) Data inadequate       e) None of these

Ans. Option A

 Charge of 1 call in February =350/150   =

            Charge of 1 call in March =[ (350+50 × 1.4)/250]

                                                  =420/250   =42/25

% cheapness of a call inn March = {7/3-42/25/(7/3) × 100} = 28%

Q12.    AZAD Printers prepares diaries expecting to earn a profit of 40% by selling on the marked price. But during transportation 8% diaries were got spoiled due to at random rain and 32% could be sold only at 75% of the cost price. Thus the remaining 60% diaries could be sold at the expected price. What is the net profit or loss in the whole consignment?

a) 6%                           b) 10%                                     c) 8%              

d) Data inadequate       e) None of these

Ans. Option C

 Let the number of diaries (produced) be 100 and the cost price of a diary be Rs.1 then,                    total cost incurred           = 100 × 1 = 100

            Total sale price                        = 32 × 0.75 + 60 × 1.4 = 108

Therefore, profit = Rs.8

Thus, there is 8% profit

Q13. ROLEX sells a wrist watch to a wholesaler making a profit of 10%. The wholesaler, in turn, sells it to the retailer making a profit of 10%. A customer purchases it by paying Rs.990. Thus, the profit of retailer is %. What is the cost incurred by the ROLEX to produce it?

a) 768                          b) 750                                      c) 800             

d) 820                          e) None of these

Ans. Option C

[((x × 1.1) × 1.1) ×1125/1100] = 990

            x = 800

Q14. A dishonest dealer purchases goods at 20% discount of the cost price of Rs. x and also cheats his wholesaler by getting 20% extra through false weighing, per kg. Then he marks up his goods by 80% of x, but he gives a discount of 25% besides he cheats his customer by weighing 10% less than the required. What is his overall profit percentage?

a) 125%                       b) 100%                                   c) 98.66%       

d) 120%                       e) None of these

Ans. Option A

 Let the actual cost price of an article be Rs.1 (in place of x)

        Now, he purchases goods worth Rs.120 and pays Rs.80, since 20% discount is allowed.

So, the CP =80/120   = 2/3

Again MP = 180, SP = 135 (since 25% discount)

Thus, the trader sells goods worth Rs.90 instead of 100 g and charges Rs.135. Therefore the effective SP =135/90   =3/2

So, profit % = (3/2 - 2/3 ) / (2/3) × 100 = 125%

Q15. A trader mixes three varieties of groundnuts costing Rs.50, Rs.20 and Rs.30 per kg in the ratio 2 : 4 : 3 in terms of weight, and sells the mixture at Rs.33 per kg. What percentage of profit does he make?

a) 8%                           b) 9%                                       c) 10%            

d) 11%                         e) None of these

Ans. Option C

Suppose he bought 2 kg, 4 kg and 3 kg of the three varieties.

            C.P. of 9 kg = Rs. (2 × 50 + 4 × 20 + 3 × 30) = Rs.270

            S.P. of 9 kg = Rs. (9 × 33) = Rs.297

So, profit % = [27/270× 100]% = 10%