Profit and Loss- Aptitude Questions and Answers

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If the Cost Price of one book is Rs. 10/- and the Selling Price is Rs. 12/-, what is the Profit or Loss on 100 books?

A)
2

B)
20

C)
100

D)
200


Correct Answer :

200


Explanation :

Cost Price of 100 book will , 10*100 =1000
Selling Price of 100 book will , 12*100 = 1200

So, Profit = SP - CP (if SP > CP),

Profit = 1200 - 1000 = 200 rupees

If the Selling Price is Rs. 6/- and loss is Rs. 0.50 ps, what is the Cost Price?

A)
5

B)
5.50

C)
6

D)
6.50


Correct Answer :

6.50


Explanation :

Loss = CP - SP
CP = 0.50 + 6 = 6.50 Rs

If the Cost Price is Rs. 640/- and Selling Price is Rs. 680/- What is the Profit percentage?

A)
5 %

B)
6.25 %

C)
6 %

D)
7 %


Correct Answer :

6.25 %


Explanation :

Profit = SP - CP = 680 - 640 = 40
Required, profit % = Profit/CP * 100
= (40/640) * 100
= 6.25 %

If the Cost Price is RS. 528/- and Profit is Rs. 44/- What is the Selling Price and what is the profit percentage?

A)
572 , 7.69 %

B)
525 , 7 %

C)
672 , 5.69 %

D)
611 , 5.5 %


Correct Answer :

572 , 7.69 %


Explanation :

Profit = SP - CP
SP = 528 + 44 = 572
Profit % = Profit/CP * 100
= (44/572) * 100
= 7.69 %

An animal trader buys a calf for Rs. 800/- and sells at a profit of 10%what is the selling price of the calf?

A)
700

B)
800

C)
880

D)
900


Correct Answer :

880


Explanation :

Profit % = Profit/CP * 100
10 = (Profit/800) * 100
Profit = 80

Profit = 80 = SP - CP
80 = SP - 800
SP = 880

An animal trader burs a cow for Rs. 1200/- and sells at a loss of 25/3 %. What is the Selling Price of the cow?

A)
1000

B)
1100

C)
1200

D)
1400


Correct Answer :

1100


Explanation :

Loss % = Loss/CP * 100
25/3 = (Loss/1200) * 100
Loss = 100

Loss = 100 = CP - SP ( CP > SP )
100 = 1200 - SP
SP = 1100

An animal trader buys a calf and a cow at Rs. 800/- and Rs. 1200/- respectively and sells them at 10% profit and 25/3 % loss respectively, what shall be profit or loss percentage on the whole?

A)
1% Loss

B)
2% Loss

C)
3% Loss

D)
4% Loss


Correct Answer :

1% Loss


Explanation :

After resolving -

Profit % = Profit/CP * 100
10 = (Profit/800) * 100
Profit = 80 = SP - CP ( SP > CP )
80 = SP - 800
selling price of calf, SP = 880 ----------Eq1

Loss % = Loss/CP * 100
25/3 = (Loss/1200) * 100
Loss = 100 = CP - SP ( CP > SP )
100 = 1200 - SP
selling price of cow, SP = 1100 ----------Eq2


So, Total cost price of both = 800 + 1200 = 2000
and from Eq1 and 2, Total selling price is = 880 + 1100 = 1980

Loss = CP - SP ( CP > SP ) = 2000 - 1980 = 20
Loss % = Loss/CP * 100 = (20/2000) * 100 = 1 %

A purchased an article for Rs. 96/- and sold it at a profit of Rs. 25/3 % to B. If B sells it at a loss of 5% what shall be the Selling Price of B?

A)
90

B)
98.8

C)
102

D)
108


Correct Answer :

98.8


Explanation :

Cost price when A buys an article = 96
Profit % = 25/3 = Profit/CP * 100
Profit = 96 * (25/3 )/ 100 = 8
A sells to B on, SP = CP + Profit
= 96 + 8
= 104

Cost Price when B buys an article = 104
Loss % = 5 = Loss/CP * 100
Loss = 104*5 /100 = 5.2
B sells to, SP = CP - Loss
= 104 - 5.2
= 98.8

Selling a pack of incense sticks for 136 Rs resulted in a loss of 15%. To make a profit of 10%, the selling price should be ?

A)
160

B)
176

C)
170

D)
149.60


Correct Answer :

176


Explanation :

Let X be cost price.

if sold at 15% loss on the sale price 136 then
=> (100–15)*X / 100 = 136
=> 0.85*X = 136
=> X = 136 / 0.85 = Rs 160

to make 10% profit the sale price should be
=> (100+10)*X / 100
=> 1.10*X
=> 1.10*160 = Rs 176

The cost price of 20 articles is equal to the selling price of 16 articles. Find the gain or loss percent?

A)
20% gain

B)
20% loss

C)
25% gain

D)
20% loss


Correct Answer :

25% gain


Explanation :

Let for an articles cp =x , sp =y

cp of 20 articles =20*x , cp of 16 articles =16*y

As is given, 20*x=16*y
y=20*x/16 = 5*x/4

Gain% = (sp-cp / cp)*100 (Sp > CP)
= (5*x/4 - x / x ) *100
= (5/4 - 1)*100
= (1/4)*100
= 25%

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