Profit and Loss- Aptitude Questions and Answers

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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.

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%

A dealer buys a wrist watch of rs 225 and spends rs 15 on its repairs. if he sells it for Rs 300,then find his profit percent?

A)
15%

B)
20%

C)
25%

D)
30%


Correct Answer :

25%


Explanation :

cost price of wrist watch = 225 + 15 = 240
Selling price = 300
Profit = 300 - 240 = 60

Profit % = (profit/cost price) * 100% = (60/240) * 100 = 25%

Dinesh bought two radios for Rs 1920. He sold a radio for a 20% profit and another 20/3 % losses. If the selling price of both radios are same, then find the cost price of both radios?

A)
800 and 1120

B)
840 and 1080

C)
860 and 1060

D)
900 and 1020


Correct Answer :

840 and 1080


Explanation :

Let first radio cp is X second radio cp is 1920-X
As is given ,
X*(100 + 20)/100=(1920-X)*(100 - 20/3)/100
120*X=(1920-X)*(280/3)
360*X=(1920-X)*280
640*X=1920*280
X=840

Hence,second radio cp is 1920-X = 1920-840 =1080
CP of both Radio = 840 and 1080

If the profit on selling an article for Rs 425 is the same as the loss on selling it for Rs 355, then the cost price of the article is?

A)
370

B)
380

C)
390

D)
400


Correct Answer :

390


Explanation :

Let the cp of article is X
As is given 425 -X = X - 355
2*X = 780
X=390

If the cost price of 18 items is equal to the selling price of 16 items, the profit or loss percent is?

A)
25% profit

B)
25% loss

C)
25/2% profit

D)
25/2% loss


Correct Answer :

25/2% profit


Explanation :

Gain percentage=(18–16 / 16)*100 = (2/16)*100 = 25/2 %

By selling an item for Rs 960, a person loses 4%. whtat is the cost price?

A)
1000

B)
784

C)
498.4

D)
300


Correct Answer :

1000


Explanation :

Cost price =960*100 / (100-4) = 960*100 / 96 = 1000

A milkman bought 70 liters of milk for Rs 630 and added 5 litres of water. If he sold it at Rs 9 per liter, then his profit percentage is?

A)
41/5 %

B)
7 %

C)
42/5 %

D)
50/7 %


Correct Answer :

50/7 %


Explanation :

cp of 70 liters of milk = 630
after added 5 liters of water,total solution= 70+5 = 75 liters

sp of 1 liter milk = 9
so, sp of 75 liter milk = 9*75 = 675

profit % =(675-630 / 630)*100 = (45/630)*100 =50/7 %

A shopkeeper sold two mobiles in Rs 2400 each.In this sell he gets 20% profit on one but 20% loss on second mobile. What is his net profit or net loss?

A)
Profit of Rs 200

B)
Loss of Rs 200

C)
No profit No loss

D)
None of these


Correct Answer :

Loss of Rs 200


Explanation :

SP of first mobile= 2400 , Profit = 20%
CP = SP * 100/100+P% = 2400* 100/120 = 2000

SP of Second mobile= Rs.1000 ,Loss = 20%
CP = SP * 100/100−L% = 2400* 100/80 = 3000

So, Total SP = 4800; Total CP = 5000
As the CP is more than SP, he makes a Loss = CP - SP = 5000 - 4800 = 200

So, Loss Percent = Loss* 100/CP = 200* 100/5000 = 4%

Cost price of two beds are equal. One bed is sold at a profit of 30% and the other one for 5504 Rs less than the first one. If the overall profit earned after selling both the beds is 14%, what is the cost price of each bed?

A)

17000


B)

16800


C)

17600


D)

17200



Correct Answer :

17200


Explanation :

Let cost price of each bed = Rs x

Acoording to question,
(x * 130/100) + (x* 130/100 - 5504) = 2x * 114/100
=> 260x - 550400 = 228x
=> 32x = 550400
x = 17200

The total cost of a washing machine with an electric chimney was 57750. The electric chimney was sold at a profit of 34% and the washing machine at a loss of 24%. If the sale price was the same in both the items, then the cost price of the cheaper item was?

A)

26850


B)

20900


C)

28875


D)

25850



Correct Answer :

20900


Explanation :

Let, the CP of washing machine be x, and the CP of the chimney will be (57750 - x)

SP of washing machine = SP of Chimney
x* (100-24)/100 = (57750-x)*(100+34)/100
x* 76/100 = (57750-x)*134/100
76x = 134*57750 - 134*x
210x = 134*57750
x = 134*57750 / 210
x = 36850

CP of washing machine, x = 36850
CP of chimney = (57750 - 36850)
So, the cheaper item will be chimney = 20900

What percent profit is made by selling an article at a certain price if by selling at 2/3rd of that price, there would be a loss of 30%?

A)

4%


B)

5%


C)

6%


D)

7%



Correct Answer :

5%


Explanation :

Let cost price = 100, Loss = 30%
SP = 70 (100-30) = 2/3 of original SP

So, Original SP = 70 * 3/2 = 105
Original Profit = 5
Percentage profit = 5%

If the Cost Price is Rs. 10/- and the Selling Price is Rs. 12, What is the Profit or Loss?

A)
1

B)
2

C)
4

D)
8


Correct Answer :

2


Explanation :

Profit = SP - CP (if SP > CP)
Profit = 12 - 10 = 2 Rs

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