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Profit and Loss - Questions with Explained Solutions

Published on Thursday, September 03, 2015
Profit and Loss problems with solutions :-

profit and loss

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     Q1. Amit sells mangoes 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

Q2.  A seller 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

Q3. If the cost price of a bundle of pages is Rs.300 and the percent markup is 20%. What is the        marked   price?
            a) 375                          b) 390                                      c) 360             
            d) 310                          e) None of these


 Q4. By selling 18 packets of biscuits, a vendor loses the selling price of 2 chocolates. Find his              loss   percent?
           a) 15%                         b) 5%                                       c) 8%              
           d) 10%                         e) None of these

Q5.   If the cost price of 15 apples, is same as the selling price of 20 apples. What is the gain or             loss percent?
          a) 15%                         b) 25%                                     c) 23%            
          d) 16%                         e) None of these


Q6. A vendor bought bananas at 6 for Rs.10 and sold them at 4 for Rs.6. Find his gain or loss             percent?
         a) 13%                         b) 15%                                     c) 10%            
         d) 22%                          e) None of these

Q7. A grocer purchased 80 kg of sugar at Rs.13.50 per kg and mixed it with 120 kg sugar at              Rs.16 per kg. At what rate should he sell the mixture to gain 16%
        a) Rs.19 per kg                        b) Rs,25 per kg              c) Rs.17.40 per kg
        d) Rs.19.40 per kg                    e) None of these

Q8. A retailer bought 20 kg tea at a discount of 10%. Besides 1 kg tea was freely offered to him        by the wholesaler at the purchase of 20 kg tea. Now he sells all the tea at the marked price          to a customer. What is profit percentage of retailer?
        a) 30%                         b) 12%                                     c) 16.66%       
        d) 25%                         e) None of these

Q9. Kavya saves Rs.25 by getting 6.66% discount on a textbook. What is the amount of money          (in Rs.) paid by her?
        a) 450                          b) 350                                      c) 225             
        d) 375                          e) None of these

Q10. At Reliance petrol pump the operator gives 5% less petrol but he sells it at the cost price.            What is his profit in this way?
        a) 5%                           b) 5.6%                                                c) 5.26%         
        d) 4.78%                      e) None of these

Q11.  A bookseller procures 40 books for Rs.3200 and sells them at a profit equal to the selling            price of 8 books. What is the selling price of one dozen books, if the price of each book is              same?
       a) 720                          b) 960                                      c) 1200                       
       d) 1440                        e) None of these

Q12. Cello produces every fine quality of writing pens. Company knows that on an average                 10% of the produced pens are always defective so are rejected before packing. Company              promises to deliver 7200 pens to its wholesaler at Rs.10 each. It estimates the overall profit          on all the manufactured pens to be 25%. What is the manufacturing cost of each pen?
       a) Rs.                           b) Rs.7.2                                  c) Rs.5.6         
       d) Rs.8                         e) None of these


Q13. By selling an article, John  earned a profit equal to one-fourth of the price he bought it.         If he sold it for Rs.375, what was the cost price?
       a) Rs.281.75                b) Rs.300                                 c) Rs.312.50   
       d) Rs.350                     e) None of these


Q14.  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


Q15.  A manufacturer offers a 20% rebate on the marked price of a product. The retailer offers          another 30% rebate on the reduced price. The two reductions are equivalent to a single              reduction of :
         a) 40%                         b) 44%                                     c) 46%            
         d) 50%                         e) None of these


Solutions 

1. Option A

85 : 9 = 105 : x
            x = [9 × 105/80]
            = Rs.11.81
Hence, S.P. per kg       = Rs.11.81

2.  Option C

Let the labeled price be Rs.x
88% of 80% of x                     = 704
                                                x = [704 × 100 ×  100 / 88× 80]
                                                = 1000

3.  Option C

MP       = CP + % markup on CP
                        = 300 + 300 × 20 / 100
      MP = Rs.360


4.  Option D

Let the SP of 1 chocolate         = Rs.1
            SP of 18 chocolates                 = Rs.18
            Loss                                         = Rs.2
            CP        = SP + Loss
                        = 18 + 2 = Rs.20
So, percentage loss = Loss / C.P. × 100
                        = 2 / 20   × 100 = 10%

5.  Option B

CP of 15 apples = SP of 20 apples
            CP × 15 = SP × 20
            CP / SP    = 4 / 3
So, you can see that CP > SP, therefore, there will be loss.
Now consider CP = 4, then SP = 3
So, loss = 1
Loss(%)           =  Loss / C.P.  × 100
                                    = 1 / 4 × 100 = 25%
Loss = 25%

6.  Option C

Suppose, number of bananas bought = L.C.M. of 6 and 4 = 12
So, C.P.            = Rs.[  10 / 6× 12] = Rs.20; S.P. = Rs.[  6 / 4 × 12] = Rs.18
So, Loss%        = [  3 / 20× 100]% = 10%

7.  Option C

C.P. of 200 kg of mixture = Rs.(80 × 13.50 + 120 × 16) = Rs.3000
            S.P. = 116% of Rs.3000 = Rs.[ 116 / 100 × 3000] = Rs.3480
So, rate of S.P. of the mixture = Rs.[3480 / 200] per kg = Rs.17.40 per kg

8.  Option C

Let the MP of 1 kg tea be Rs.1, then CP of 20 kg with discount = 20 × 0.9 = Rs.18
Also 1 kg tea is free. So the retailer gets tea worth Rs.21 by paying Rs.18 only.
            Profit% = Goods Left / Goods Sold × 100
                        = 21 - 18 / 18 × 100 = 16.66%

9.  Option B

6.66% of MP = 25
            MP = 375
            SP = MP 25 = 350

10. Option C

Profit% = 5 / 95 × 100 = 5.26%

11. Option C
CP = Rs.80 [= 3200 / 40]
Now SP of 40 books = CP of 40 books + SP of 8 books
SP of 32 books = 3200
            SP of 1 book = Rs.100
So, required SP of 1 dozen books = Rs.1200


12. Option B

You must know that the company is able to deliver only 90% of the manufactured pens. So let k be the manufacturing price of a pen, then
Total income (including 25% profit) = (8000 × k) × 1.25
Also this same income is obtained by selling 90% manufactured pens at Rs.10 which is equal to 7200 × 10
Thus,   (8000 × k) 1.25 = 7200 × 10
            K = Rs.7.2                   (90% of 8000 = 7200)

13. Option B

S.P. = C.P. +  1 / 4 C.P. =   5 / 4 C.P.
So,                  5 / 4   C.P. = 375
            C.P. = Rs. [375 ×4 / 5 ] = Rs.300

14. 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%

15. Option B

Let marked price be Rs.100
Then, Final S.P. = 70% of 80% of Rs.100 = Rs. [  70 / 100 × 80 / 100  × 100] = Rs.56
So, single discount = (100 56) = 44%
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