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Profit and Loss - 1 (Level : Moderate)

Description: There are 15 questions on Quantitative Aptitude on the topic Profit and Loss for bank po/clerk, ssc, class IX etc.
Number of Questions: 15
Created by:
Tags: Profit and loss Time and Work Pipes and Cisterns Profit and Loss Applications of Percentages (Profit and Loss)
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A woman buys an old washing machine for Rs. 16500 and spends Rs. 1200 on its repairing. She also spends Rs. 300 on transport fare. If she sells the washing machine for Rs. 24000, then find her gain percentage.

  1. 33.33%

  2. 30.33%

  3. 30%

  4. 20%

  5. None of these

Show answer
Correct Option: A
Explanation:

Total cost price of washing machine = Rs. (16500 + 1200 + 300) = Rs. 18000 

Selling price of washing machine = Rs. 24000 

Gain = (S.P.) - (C.P.) = Rs.(24000 - 18000) = Rs. 6000 

Gain % = (6000 x 100)/18000 = 33.33%

A vendor bought 12 toffees for Rs. 10. Find the total selling price at the profit of 10.5%.

  1. Rs. 11.50

  2. Rs. 11.00

  3. Rs. 11.05

  4. Rs. 12.00

  5. None of these

Show answer
Correct Option: C
Explanation:

CP of 12 toffees = Rs.10,

CP of 1 toffee = Rs. 10/12 = Rs. 5/6,

Because profit = 10.5%,

S.P. of 1 toffee = CP (100 + profit%)/100,

= 5(100 + 10.5)/(6 x 100),

= 221/240,

Now, total SP of 12 toffees = (221/240) x 12 = Rs. 11.05.

18 articles were bought for Rs. 12 and 15 articles were sold for Rs. 16. Find the gain percentage.

  1. 30%

  2. 60%

  3. 40%

  4. 50%

  5. None of these

Show answer
Correct Option: B
Explanation:

CP of each article = 12/18 = Rs. 2/3,

SP of each article = Rs.16/15,

So, gain = 16/15 – 2/3 = 6/15

= Rs. 2/5,

Therefore, gain % = (gain/CP)*100,

= [(2/5)(/2/3)]*100,

= 60%

In a certain medicine store, the profit is 120% of the cost price of the medicine. If the cost price of the medicine is increased by 5%, but the selling price remains same, then find the new profit percent?

  1. 120%

  2. 109.52%

  3. 100%

  4. 150%

  5. None of these

Show answer
Correct Option: B
Explanation:

Let CP of medicine = Rs. 100.

Then, profit = Rs. 120,

SP of medicine = Rs.100 + Rs.120 = Rs. 220,

New C.P. = 100 + 5% of Rs. 100 = Rs. 105,

New S.P. = Rs. 220,

Profit = Rs. (220 - 105) = Rs. 115,

Required profit percentage = (115/105)*100 = 109.52%

On selling 13 toys for Rs. 1560, there is a loss equal to the cost price of 3 toys. The cost price of a toy is

  1. Rs. 154

  2. Rs. 134

  3. Rs. 156

  4. Rs. 120

  5. None of these

Show answer
Correct Option: C
Explanation:

Let the CP of each toy = Rs. X,

Then, CP of 13 toys = Rs.13x,

Loss = Rs. 3x,

Now SP = CP – Loss,

13x – 3x = 1560,

10x = 1560,

x = 156,

So, the CP of each toys = Rs. 156.

A man buys a cycle for Rs. 3350 and sells it at a profit of 15.5%. What is the selling price of the cycle?

  1. Rs. 3860.25

  2. Rs. 3860.50

  3. Rs. 3869.50

  4. Rs. 3869.25

  5. None of these

Show answer
Correct Option: D
Explanation:

S.P. of the cycle = CP (100 + profit %) / 100,

= 3350(100 + 15.5)/100,

= (3350 x 115.5)/100,

= Rs. 3869.25.

Suresh purchased 30 dozens of bananas at the rate of Rs. 60 per dozen. He sold each one of them at the rate of Rs. 6. What was his percentage profit?

  1. 30%

  2. 25%

  3. 20%

  4. 35%

  5. None of these

Show answer
Correct Option: C
Explanation:

Cost price of 1 banana = Rs. 60/12 = Rs. 5

Selling price of 1 banana = Rs. 6,

So, gain = Rs. (6 - 5) = Re. 1,

Profit % = (1 x 100)/5 = 20%.

The cost price of 12 articles is the same as the selling price of “n” articles. If the profit is 20%, then the value of “n” is

  1. 15

  2. 10

  3. 9

  4. 20

  5. None of these

Show answer
Correct Option: B
Explanation:

Let C.P. of each article be Re.1.

C.P. of “n” articles = Rs. n,

S.P. of “n” articles = Rs. 12,

Profit = Rs. (12 - n),

Profit % = 20,

[(12 - n)/n] x 100 = 20,

1200 – 100n = 20n,

120n = 1200,

n = 10

A trader mixes 11 kg of pulses at Rs. 31 per kg with 14 kg of pulses of other variety at Rs. 41 per kg and sells the mixture at a profit of 12%. Find the selling price of pulses per kg.

  1. Rs. 41

  2. Rs. 43

  3. Rs. 45

  4. Rs. 44

  5. None of these

Show answer
Correct Option: A
Explanation:

C.P. of 25 kg pulses = Rs. (11 x 31 + 14 x 41) = Rs. 915,

S.P. of 25 kg pulses = CP (100 + profit%)/100,

= 915(100 + 12)/100,

= Rs. 1024.80,

SP of pulses per kg = 1024.80/25,

= 40.99,

= Rs. 41 (approximately)

A shopkeeper gets a gain of 21.5% on his cost price. If his total sale was Rs. 4225, then what was his profit?

  1. Rs. 747.50

  2. Rs. 747.00

  3. Rs. 747.63

  4. Rs. 747.60

  5. None of these

Show answer
Correct Option: C
Explanation:

C.P. = (SP*100)/(100 + profit%)

C.P. = Rs. (100 x 4225)/121.5 = Rs. 3477.37 

Profit = Rs. (4225 – 3477.37) = Rs. 747.63.

The percentage profit earned by selling an article for Rs. 1470 is equal to the percentage loss incurred by selling the same article for Rs. 980. At what price should the article be sold to make 10% profit?

  1. Rs. 1347.50

  2. Rs. 1350.50

  3. Rs. 1300.50

  4. Rs. 1340.50

  5. None of these

Show answer
Correct Option: A
Explanation:

Let the C.P. be x. 

1470 - x = x - 980 

2x = 2450 

x = 1225

S.P. = 110% of 1225 = (110*1225)/100 

= Rs. 1347.50

A man got a discount of 40% on the marked price of an article and sold it for Rs. 7020 with 30% profit on the price he bought. What was the marked price?

  1. Rs. 9000

  2. Rs. 10000

  3. Rs. 12000

  4. Rs. 8000

  5. None of these

Show answer
Correct Option: A
Explanation:

Let the MP of the article = Rs. x 

So, CP of the article = x – (x*40)/100 = Rs. 60x/100 

Now, SP of the article = Rs. 7020

[(60x/100)*130]/100 = 7020 

x = (7020*100*100)/(60*130) 

x = 9000 

So, the MP of the article = Rs. 9000

By selling 50 articles for Rs. 35, a man loses 30%. How many should he sell for Rs. 25 to gain 25% in the transaction?

  1. 16

  2. 18

  3. 20

  4. 22

  5. None of these

Show answer
Correct Option: C
Explanation:

Let the CP of each article = Re. x,

So, CP of 50 articles = Rs. 50*x = Rs. 50x

Now, SP of 50 articles = Rs. 35 and loss % = 30%,

[50x(100 – 30)]/100 = 35

50x*70 = 35*100,

x = 1,

So, CP of each article is Re. 1,

Now, let the number of articles sold in Rs. 25 be y 

So, CP of y articles = y*1 = y,

Now, SP of y article = 25,

y(100 + 25)/100 = 25,

y*125 = 25*100,

y = (25*100)/125,

y = 20,

So, number of articles is 20.

Cost price of an article is Rs. 565 when a man sells it at a profit of 35%. Find the selling price of the article.

  1. Rs. 762.75

  2. Rs. 762.50

  3. Rs. 700

  4. Rs. 800

  5. None of these

Show answer
Correct Option: A
Explanation:

SP = CP (100 + profit%)/100

= 565(100 + 35)/100,

= 762.75,

So, the SP of the article is Rs. 765.75.

Due to reduction of 10% in the price of an article, a customer can purchase 10 articles more for Rs. 360. What is original price of an article?

  1. Rs. 3

  2. Rs. 4

  3. Rs. 5

  4. Rs. 6

  5. None of these

Show answer
Correct Option: B
Explanation:

Let the price of each article = Rs. x and number of articles = y,

So, CP of articles = Rs. 360,

That means, x*y = 360 ----------------(1),

On reducing the price by 10%,

(90x/100)*(y + 10) = 360 -----------------(2),

From (1) and (2),

10xy = 9xy + 90x,

xy = 90x,

y = 90,

So, original number of articles is 90. 

Therefore, the original price of each article = 360/90 = Rs. 4.

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