Aptitude preparation
Aptitude on Profit and Loss
Aptitude questions and answers on Profit and Loss


1. 1. Cost price = Rs.60 Gain =35% what is Selling price ? 

Correct Answer:Option
B
Explanation:
SP = 135% of 60 = (135/100*60) = 81. Formulae: SP= ((100+gain%)/100)CP
2. 2. If suresh buys two sheeps at Rs.1500 each and sells one at a gain of 15% and another at a loss of 15%. How much does he gain or loss in the whole transaction ? 

Correct Answer:Option
D
Explanation:
What ever he gain on the 1st sheep,the same he loss on the other sheep.
3. 3. An umbrella marked at Rs,80 is sold for Rs.68.what is the rate of discount ? 

Correct Answer:Option
A
Explanation:
Discount = Marked price selling price / Marked price*100 = (8068/80*100) = 15%
4. 4. If the cost price is 75% of the selling price ,then what is the profit %age ? 

Correct Answer:Option
D
Explanation:
Let SP=100 , CP = 75, PROFIT = 25. Profit %= 25/75*100 =100/3 = 33.33
5. Find cost price when CP=Rs.72.30 ,Loss=20% ? 

Correct Answer:Option
D
Explanation:
SP=20% of 72.30 = 80/100*72.30 = 57.6
6. Find the single discount equivalent to a series discount of 30% , 40% and 15% ? 

Correct Answer:Option
D
Explanation:
Let marked price = 100. Then ,Net SP = 30% of 40% of 15% of Rs.100
(85/100)*(60/100)*(70/100) = 0.357
7. Mahesh sold two flats for Rs. 7,00,000 each.On one he gains 20%while on the other he loss 20%.How much does he gain or loss in the whole transaction ? 

Correct Answer:Option
D
Explanation:
Loss % = ((common loss or gain%)/10)² = (20/10)² =4.
In such cases there is always a loss.
8. If books bought at ranging from Rs.250 to Rs.400 are sold at prices ranging from Rs.350 to Rs.445, what is the greatest possible profit that might be made in selling five books ? 

Correct Answer:Option
C
Explanation:
Least cost price = 250*5 = Rs.1250 , Greatest SP = 445*5 = Rs.2225 ,Required profit = 22251250 = Rs.975
9. A man buy a cycle for Rs.1600 and sells it at a loss 20%.what is selling price ? 

Correct Answer:Option
D
Explanation:
SP = 80% of 1600 = 80/100*1600 = Rs.1280
10. At what profit percent must an article be sold so that by selling at half that price there may be a loss of 40% ? 

Correct Answer:Option
A
Explanation:
Let selling price = x , new SP = x/2 , loss% =40 , so CP = (100/60)*(x/2) = 5x/6 , profit = x5x/6 = x/6 ,Profit %= (x/6)*(6/5x)*100 = 20%
11. If selling Price of an article is 5/4 of its cost price , the profit in the transactions is ? 

Correct Answer:Option
C
Explanation:
Let CP = x , Sp = 5x/4 , gain = (5x/4) x =x/4 , gain % = (x/4)*(1/x)*100 = 25%
12. 20% loss on selling price is what percent loss on the cost price ? 

Correct Answer:Option
C
Explanation:
Let SP = 100 , loss =20 , CP= 100+20 = 120 , loss% = 20/120*100 = 50/3 = 16 2/3
13. The profit earned by selling an article for Rs.750 is equal to the loss incurres when the same article is sold for Rs.350.what should be the sale price for making 60% profit ? 

Correct Answer:Option
A
Explanation:
Let CP = x , then 750x=x350 , 2x=1100 , x=550 .
SP =160% of 550 > 160/100*550 = 880
14. If the cost price of 8 pencils is equal to the selling price of 5 pencils,the gain percent is ? 

Correct Answer:Option
C
Explanation:
Let CP of each pencil is Rs.1 , CP of 5 pencils = Rs.5 , SP of 5 pencils = Rs.8 then gain% = 3/5*100 = 60%
15. The CP of an article is 40% of th SP.The percent that the SP is CP is ? 

Correct Answer:Option
A
Explanation:
CP = 40% of SP = 5/2 CP =( 5/2*100)% of CP =250 % of CP
16. After allowing a discount of 18% on the marked price of an article , it sold for Rs.900.Find its marked price ? 
A.

1000 
B.

1052.36 
C.

1097.56 
D.

1097.65 

Correct Answer:Option
C
Explanation:
Selling price = Rs.900 and Discount %=18.
Let Marked price =x.
Discount = (Marked price x Discount%)/100 = x*18/100 = 9x/50 .
Now Marked price = Selling price + Discount
x =900 + 9x/50 >x9x/50 =900 >(50x  9x )/50 =900 >41x/50 = 900 >x = (900*50)/41 = 1097.56.
17. If 12 apples bought for a rupee, How much must be sold for a rupee to gain 20% ? 

Correct Answer:Option
A
Explanation:
Cost price for one apple = 1/12, then
Selling price = (100+20)/100 * 1/12 = 1/10.
Hence SP of 1 apple = 1/10
10 apples must be sold for a rupee.
18. An article when sold for Rs.300 fetches 20 percent profit.What would be the percentage profit/loss ,if 5 articles are sold for Rs.2000 ? 

Correct Answer:Option
B
Explanation:
Cost price =(300/120)*100 = 250.
Cost price of 5 articles =5 * 250 =1250 , Profit =2000  1250 = 750 , Profit % = (750/1250)* 100 = 60.
19. For a certain article, if discount is 30% , the profit is 30%.If the discount is 15% then the profit is ? 

Correct Answer:Option
C
Explanation:
For same articles , (100d1)/(100d2) = (100+g1)/(100+g2)
So (10030)/(10015) = (100+30)/(100+g2) > 70/85 = 130/100+g2 >(85/70*130)100 =g2 >g2 = 57.85%
20. Cost price of an article is Rs.2000 and selling price is 2200.Find loss or gain ? 
A.

No loss No gain 
B.

Gain Rs.200 
C.

loss Rs.100 
D.

Gain Rs.150 

Correct Answer:Option
B
Explanation:
Cost price of an article = Rs.2000 , selling price = 2200
Since SP > CP , there is a profit .
gain = SP CP =2200  2000 = 200.
21. A cycle was purchased for Rs.1800 and sold for Rs.1300.Find loss or profit ?

A.

profit 
B.

loss 
C.

No profit No loss 
D.

None 

Correct Answer:Option
B
Explanation:
Cost price of an cycle = Rs.1800 , selling price = 1300
Since SP < CP , there is a Loss .
gain = CP SP =1800  1300 = 500., So Loss .
22. Rakesh buys a book for Rs.700 and sells it for Rs.350,what is his loss percentage ? 

Correct Answer:Option
A
Explanation:
loss % = 350*100 /700
= 50
Formula : Loss% = Loss*100 / CP..
23. Sunitha buys a cycle for Rs.2000 and sells it for Rs.2200,what is her profit percentage ? 

Correct Answer:Option
B
Explanation:
profit % = 200*100 /2000
= 10
Formula : profit/gain % = profit/gain *100 / CP..
24. A fruit seller sells two apples at Rs.10 each on one he gain 30% and on the other he lost 30%.What is his overall gain or loss in percentage ? 

Correct Answer:Option
C
Explanation:
Two articles sold at same price, making a profit of a% on one and a loss of b% on the other ,there is loss occurs on the whole transaction.
loss% = a²/100.
So, (30)²/100 = 900/100 = 9%.
Loss% = 9%
25. If a toy is sold at a lost of 20% for Rs.400,then find CP of a toy ? 

Correct Answer:Option
C
Explanation:
Selling price = (100  loss%)/100 * CP.
= (80/100) * 400 = 500.
26. How much % must be added to the cost price of goods so that a profit of 40% must be made after throwing off a discount of 20% from the marked price ? 

Correct Answer:Option
A
Explanation:
Let cost price =100 then selling price =140.
Also , let marked price be Rs.x then,
80% of x =140 , (80/100)x =140 > x =140*100/80 >x =35 * 5 =175 .
Marked price should be Rs.175 or MP = 75%above cost price .
27. A cloth merchant man says that due rainy in the market ,he sells the cloth at 20% loss, but he uses a false metre scale and actually gain 25%.Find the actual lenth of the
scale ? 

Correct Answer:Option
B
Explanation:
True scale /false scale =(100+gain%) / (100  loss%).
100/false scale = (100+25) / (100  20).
false scale = 100 * 80 /125 = 64.
28. A dealer professes to sell his goods at cost price , but he uses a weight of 850g for the kg weight.Find his gain percent ? 
A.

15 12/17 
B.

15 
C.

17 13/17 
D.

17 11/17 

Correct Answer:Option
D
Explanation:
Error = 1kg  850g
= 1000g  850g = 150g
Therefore , Gain% = 150 / 850 * 100.
= 17 11/17.
29. Mukesh bought a T.V. at the list price of Rs.20,000.If the value of sales tax was 6%.Find the amount he had to pay for purchasing the T,V. ? 
A.

Rs,20,000 
B.

Rs.25,000 
C.

Rs.21,200 
D.

21,500 

Correct Answer:Option
C
Explanation:
List price of T.V = Rs.20,000
Rate of sales tax =6%
Therefore sales tax = 6% of Rs.20,000 =6 / 100 * 20000 = Rs.1200.
So, total amount which mukesh had to pay for purchasing the T.V. = 20,000 + 1,200 = Rs.21,200
30. The price of 4 shirts and 2 pants is Rs.2000,with the same money one can buy 6shirts and 1 pant .If one wants to buy 5 pants,how muchone have to pay ? 

Correct Answer:Option
A
Explanation:
Let the price of one shirt and one pant be Rs.x and Rs.y respectively.
Then,4x +2y = 2000 or 2x +y =1000  (1)
Also, 6x +y =2000 (2)
Solving equation (1) and (2), we get x =250 and y = 500.
Therefore, cost of 5 pants = 5 * 500 =2500.
31. A man bought a buffelow and a carriage for Rs.3000,he sold the buffelow at a gain of 20% and the carriage at a loss 10% thereby gaining 2% on the whole .Find the cost of buffelow ? 

Correct Answer:Option
C
Explanation:
Let the cost price of buffelow =Rs.x
Then the cost price of carriage =Rs. (3000 x)
20% of x  10% of (3000  x) = 2% of 3000
==>x/5  (3000  x)/10 =60
==> 2x  3000+x = 600
==> 3x = 3600 > x = 1200.
32. Find the single discount equivalent to successive discounts of 20% and 35%? 

Correct Answer:Option
B
Explanation:
Equivalent discount = (20+35  (20*35)/100) %
= 55  7 = 48%.
Formula: single discount =(a+b  a*b/100)%.
33. A shopkeeper offers 6% discount on all his goods to all his customers.He offers a further discount of 3% on the reduced price to those customers who pay cash.What will you actually have to pay for an article in case if its Marked price is Rs.3600 ? 
A.

Rs.3282.48 
B.

Rs.3000.55 
C.

3275 
D.

None 

Correct Answer:Option
A
Explanation:
Direct method : SP = 3600(1  6/100)(1  3/100)
= 3600(47/50)(97/100)
= 3600 * 0.94 * 0. 97
Sp = 3282.48.
Note : If the list price of an item is given and discounts d1 and d2 are given succesively on it then,
Final price = list price (1  d1/100)(1  d2/100).
34. Selling price = 325 , cost price = 475 Find the loss/gain ? 
A.

No loss no gain 
B.

Gain Rs.150 
C.

loss Rs.200 
D.

loss 250 

Correct Answer:Option
B
Explanation:
Gain = CP  SP.
= 475  325 =150
So gain Rs.150 .
35. The price of 10 chairs is equal to that of 4 tables.The price of 15 chairs and 2 tables together is Rs.4000.Find the total price of 12 chairs and 3 tables ? 
A.

Rs.3900 
B.

Rs.3500 
C.

Rs.4300 
D.

None 

Correct Answer:Option
A
Explanation:
Let the cost price of a chair and that of a table be Rs.x and Rs.y respectively.
Then, 10x=4y or y =5/2*x
Therefore, 15x+2y = 4000 >15x+2*5/2*x =4000 > 20x =4000 >x = 200.
So, y =(5/2*200) = 500.
Hence , the cost of 12 chairs and 3 tables =12x+3y
= Rs.(2400+1500) = Rs. 3900.
36. An article was sold for Rs.Q,after giving a discount of y%.Then ,its list price is?

A.

(q / 100y) 
B.

(100z / 100y) 
C.

(100q / 100z) 
D.

(100q / 100y) 

Correct Answer:Option
D
Explanation:
Let the list price be Rs.Z.
Therefore (100  y)% of z = q > (100y / 100)*z =q > z =(100q / 100y)
37. scott buys an article at a discount of 30%.At what percentage above the cost price should he sell it to make a profit of 30% over the original list price ? 

Correct Answer:Option
C
Explanation:
Let original list price = Rs.100. Then , C.P = Rs.70 , Desired S.P = Rs.130
Therefore Required percentage = 60/70 *100 = 600/7 = 85.714%
38. Find Selling Price, when Cost Price = Rs.350 Gain = 20% ? 

Correct Answer:Option
D
Explanation:
C.P =Rs.350 , Gain% = 20%
S.P = 120% of 350 = 120/100 * 350 = Rs. 420.
39. On order of 7 dozens boxes of a consumer product,a retailer receives an extra dozen free. This is equivalent to allowing him a discount of ? 
A.

14 2/7 
B.

15 
C.

14 4/7 
D.

None of these 

Correct Answer:Option
A
Explanation:
Clearly, the retailer gets 1 dozen out of 7 dozens free.
Therefore, equivalent discount = 1/7 * 100 =14 2/7%.
40. The difference between cost price and sale price of an article is Rs.170.If the profit is 12%,the selling price is ? 
A.

1425 
B.

1500 
C.

1417 approx 
D.

None of these 

Correct Answer:Option
C
Explanation:
Let the C.P be Rs.x.
Then , S.P = 112% of Rs.x =Rs. (x * 112/100) = 28x / 25 .
Therefore, 28x / 25  x =170 >x = 170 * 25 /3 = 4250 /3 = Rs.1416.666 =1417 approximately.
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