Profit and Loss- Aptitude Questions and Answers

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A man bought a horse and a cart. If he sold the horse at 10 % loss and the cart at 20 % gain, he would not lose anything; but if he sold the horse at 5% loss and the cart at 5% gain, he would lose Rs. 10 in the bargain. The amount paid by him was Rs._______ for the horse and Rs.________ for the cart?

A)
400,200

B)
200,400

C)
500,300

D)
300,500


Correct Answer :

400,200


Explanation :

Let x be the cost price of the horse and y be the cost price of the cart.
In the first sale there is no loss or profit. (i.e.) The loss obtained is equal to the gain.
Therefore (10/100) * x = (20/100) * y
x = 2 * y -----------------(1)
In the second sale, he lost Rs. 10. (i.e.) The loss is greater than the profit by Rs. 10.Therefore
(5 / 100) * x = (5 / 100) * y + 10 -------(2)
Substituting (1) in (2) we get
(10 / 100) * y = (5 / 100) * y + 10
(5 / 100) * y = 10

y =cost price of the cart = 200
From (1) x= 2 * 200 =cost price of the horse = 400

If an article costs 60% of its selling price there is a profit of Rs.60. what is the selling price?

A)
Rs. 125

B)
Rs. 120

C)
Rs. 140

D)
Rs. 150


Correct Answer :

Rs. 150


Explanation :

Profit = SP - CP (i.e., if SP > CP)
As given, CP = 60% of SP => (60/100) *SP

Thus,
60 = SP - (60/100) *SP
60 = SP*(40/100)
SP=(60*100)/40
the selling price is SP=150

An article is sold at a certain price. By selling it at 3/5 of that price one loss 10%. What is the gain percent at original price ?

A)
33%

B)
35%

C)
40%

D)
50%


Correct Answer :

50%


Explanation :

Profit = SP - CP ( if SP > CP)
Profit% = (Profit* 100)/CP

Let the cost price is Rs 100,Thus the selling price with 10% loss = Rs 90
that is, Rs 90 =3/5 of the original selling price

So the original selling price = 90 * 5/3 = Rs 150
Thus,gain = 150 -100 = 50
Gain% = (50*100)/100 => 50%

Radhe Shyam purchases 11 apples for Rs. 100 and sells 10 apples for Rs. 110. How much profit/loss does he make over the two transactions?

A)
19% Profit

B)
1.9% Loss

C)
21% Profit

D)
21% Loss


Correct Answer :

21% Profit


Explanation :

C.P of 1 apples = 100/11
S.P of 1 apples = 110/10
Profit = S.P - C.P
=11-(100/11)
=(121-100)/11
=21/11

Profit% = (Profit/C.P)*100
=((21/11)/(100/11))*100
= 21%

By selling a watch for Rs. 4950, a shopkeeper incurs a loss of 10%. What is the cost price of the watch for the shopkeeper?

A)
Rs. 5650

B)
Rs. 5500

C)
Rs. 5550

D)
Rs. 5450


Correct Answer :

Rs. 5500


Explanation :

Selling price of watch, SP = 4950
Loss = 10%
thus, Cost price CP = (SP * 100)/(100 - Loss%)
= (4950 * 100)/(100 - 10)
= 495000/90
= 5500

A fruit seller 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


Correct Answer :

Rs.11.81


Explanation :

80 : 9 = 105 : x
x = (9×105/80)
= Rs.11.81
Hence, SP per Kg= Rs.11.81

A shopkeeper marks his goods at such a price that he can deduct 20% for cash and yet make 20% profit. The marked price of an item which cost him 180 is?

A)
270

B)
240

C)
245

D)
260


Correct Answer :

270


Explanation :

CP = 180,Gain = 20%
SP = (120/100) * 180= 216

Let the Marked Price be x.
Then, 80% of x = 216
80x/100 = 216
x =216*100/80 =217

Thus, Marked Price is 270

A dealer buys an article marked at 40000 with 20% and 10% off. He spends 1200 on its repairs and sells it for 30000. What is his gain or loss per cent?

A)
10% gain

B)
10% loss

C)
no profit no loss

D)
None of the above


Correct Answer :

no profit no loss


Explanation :

CP = (80% of 90% of 40000) + (1200)
= (80/100)*(90/100)*40000 + (1200)
= (28800 + 1200)
= 30000
So, CP = 30000 and SP = 30000
therefore no gain no loss in the transaction.

Successive discount of 10% and 10% are equivalent to a single discount of ?

A)
19%

B)
21%

C)
21%

D)
18%


Correct Answer :

19%


Explanation :

Let the CP be 100. Then,
SP = 90% of 90% of 100
= (90/100)*(90/100)*100
= 81

Single discount = (100-81)% = 19%

Gourav bought a scooter for 45000 rupees. If the shopkeeper has given him a discount of 10%, what was the marked price of the scooter?

A)
50000

B)
55000

C)
65000

D)
60000


Correct Answer :

50000


Explanation :

Let marked price was X. then
X - 10% of X = 45000
0.9X = 45000
X = 45000/0.9
X = 50000

The marked price price was Rs. 50000

A cycle dealer sells a bicycle at a gain of 8%. Had he sold it for Rs. 75 less, he would have lost 2%. What is the cost price of the bicycle?

A)
Rs. 850

B)
Rs. 350

C)
Rs. 750

D)
Rs. 450


Correct Answer :

Rs. 750


Explanation :

Let x be the cost price
selling price = [100 + gain%)/100]*x =108*x/100

if he had sold it at Rs 75 less, he would have lost 2% i.e.
108*x/100 - 75 = 98*x/100
108*x - 7500 = 98*x
10x = 7500

Cost price X= Rs 750

By selling 90 ball pens for Rs. 160, a person loses 20%. How many ball pens should be sold at Rs. 96 so as to have 20% profit?

A)
36

B)
37

C)
46

D)
47


Correct Answer :

36


Explanation :

sp of 90 ball pens = rs 160 =20% loss
so, cp of 90 ball pens = 160*100 / (100-20) =rs 200
cp of 1 ball pen =200/90 =20/9

let X ball pens are sold to earn20% profit
then , cp of X ball pens = X*(20/9)
as given SP of X ball pens = rs 96 , 20% profit

hence X*(20/9)=96*100 / (100+20) = 80
X=80*(9/20) = 36

So, 36 ball pens should be sold for rs 96 to earn profit of 20%

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