Aptitude Questions with explanations PROFIT AND LOSS - Solved Problems 1

Aptitude Questions with Solutions Profit and Loss - Solved Problems 1

An article is bought for Rs 2000 and sold for Rs 2400. What is the gain or loss?

a)Rs  400         b)Rs 300        c)Rs 250        d)Rs 500

Answer: A

Explanation:  Cost price = Rs 2000 Selling price = Rs 2400

Profit = SP –CP = Rs 2400 –Rs 2000

                       = Rs 400

Quantitative Aptitude   Profit and Loss - Solved Question 2

A camera was bought for Rs 16000 and sold for Rs 18000. Find the profit % ?

a)    10%         b)12.5%          c)18%      d)20%

Answer: B

Explanation: CP = Rs 16000   SP = Rs 20000

           Profit = SP –CP= Rs 18000 – Rs 16000

                                 =  Rs 2000

                Profit % =

Profit / CP

X 100%

                             =

2000 / 16000

X 100%

                             = 12.5%

Aptitude Questions with Solutions Profit and Loss - Solved Question 3

Ramesh bought an article for Rs 4500 and sold it for Rs Rs 4000. Find his profit or loss %?

    a)9 1/11%       b)11         c) 10%         b)11 1/9%

Answer: D

Explanation: Here SP< CP , there is a loss

                    Loss = CP – SP

                            = Rs 4500 –Rs 4000

                            = Rs 500

                   Loss % =

Loss / CP

   x 100%

                              =

500 / 4500

    x 100%

                              =

1 / 9

x 100%

                              = 11

1 / 9

%

Aptitude Questions & Explanations Profit and Loss - Solved Question 4

The cost price of an article is Rs 20,000 and sold at a profit of 20%. Find the selling price?

      a)    Rs 22000     b)Rs 24000      c) Rs 25000      d) Rs 26000

Answer : B

Explanation : CP = Rs 20000  Profit% = 20%

                      Selling price = CP X

(100 + profit%) / 100

                                      = Rs 20000 x

(100 + 20) / 100

                                          = Rs 20000 x

120 / 100

                                       = Rs 24000

Quantitative Aptitude Questions Profit and Loss - Solved Problems 5

An article is bought for Rs 9000 and sold at a loss of 15%. Find the selling price?

a)    Rs 7650          b) Rs 8000        c)Rs 8100       d)Rs 7500

Answer : A

Explanation :   CP = Rs 9000  and Loss % = 15%

                    SP = CP X

(100- Loss%) / 100

                        = Rs 9000 x

(100-15) / 100

                        = Rs 9000 x

85 / 100

                        = Rs 7650

Aptitude Questions with Solutions Profit and Loss - Solved Problem 6

By selling an article for Rs 3300, a merchant gains 10%. What is the cost price of the article?

a)    Rs 3000          b) Rs 3200        c)Rs 2800      `d)Rs 3150

Answer: A

Explanation: 
Here the sell price is Rs 3300 and profit % = 10%

 CP = SP X

(100+Profit%) / 100

      =  Rs 3300  x

(100+10) / 100

      = Rs 3300 x

110 / 100

      = Rs 3000      

Quantitative Aptitude Questions Profit and Loss - Solved Problems 7

By selling a TV for Rs 14400, Sharma loses 10%. What is the cost price of the TV?

a)Rs 12000         b)Rs 15000      c)Rs 16000        d)Rs  18000

Answer : C

Explanation:  Given SP = Rs 14400     Loss% = 10%

                           CP= SP X

100 / (100-Loss%)

                      =  Rs 14400  x 

100 / (100-10)

                               =  Rs  14400 x

100 / 90

                              = Rs 160000

Aptitude Questions with Solutions Profit and Loss - Solved Problem  8

A sells a camera to B at at profit of 20% and B sells it to C at a profit of 25%. If C pays Rs 450, what price did A pay for the camera ?

a)Rs  300        b)Rs 350        c)Rs 400        d)Rs 450

Answer: A

Explanation :  Let the cost price to A be A.

 A sold to B at 20% profit and B sold to C at 25% profit.

              SP = A X

(100+20) / 100

   X

(100+25) / 100

             450 = A X

120 / 100

X

125 / 100

              A   = Rs 300

                  

Aptitude Questions with Solutions Profit and Loss - Solved Problem  9

A person buys apples at 10 for Rs.180 and sells them at 11 for Rs. 200. What is his gain or loss per cent?
a)1%  profit   b)1.01% loss    c)2% loss        d)1.01% profit

Answer: D

Explanation: Here the number of apples bought and sold is not equal. So we cannot find the profit or loss%.

To find profit or loss , we have to make the number of apples bought and sold are equal

To do this , we take , LCM of 10 and 11 = 110
CP of 110 Apples = 110×180  = Rs. 1980

SP of 110 Apples  = 110×200 = Rs. 2000

Profit = Rs 2000 - Rs 1980 = Rs 20

Profit % = 

(20 / 1980

×100   = 1.01%.

Aptitude Questions with Solutions Profit and Loss - Solved Problem 10

A bike is sold for Rs 50600 at a gain of 10%.What would have been the profit or loss percent if it had been sold for Rs 43700?

a)    10% loss      b)10% profit  c)5% profit   d)5% loss

Answer: D

Explanation : Let CP be 100 %

                     SP = CP + P=> 100% + 10% = 110%

             SP => 110 % = Rs 50600

              CP => 100% = Rs

50600 / 110

    x 100

                                  = Rs 46000

       2^nd selling price is Rs 43700 . There will be loss because SP< CP

                        Loss = CP – SP = Rs 46000 - Rs 43700 = Rs 2300

                Loss % =

Loss / CP

    x          100%

                            =

2300 / 46000

   x 100

                            = 5%

Aptitude Questions with Solutions Profit and Loss - Solved Question 11

A dishonest merchant professes to sell his goods at cost price, but uses a weight of 800 grams for one kg. weight. What is his profit per cent?

a)    12.5%        b) 15%         c)25%       d)30%

Answer :  C

Explanation :

Assume 1gm costs 1 rupee.  The merchant gives 800 grams charging the price of 1000 grams.

His gain is 100 grams on every 800 grams. i.e., for Rs.800 investment his gain is Rs.200.

Therefore, Profit percent =

200 / 800

×100=25%

Aptitude Questions with Solutions Profit and Loss - Solved Problems 12

 A dishonest dealer sells his goods at the cost price and still earns 25% profit by false weight. What weight does the dealer use for a kg?

a)    750 grams   b) 800 grams    c)825 grams      d) 850 grams

Answer  B

Explanation :    Let he defrauds x grams per kg

     Here Profit%=25

         Then

x / 100-x

=25
Solving , x = 200

    He uses 1000-200= 800 grams instead of 1 kg = 800 grams

Aptitude Questions with Solutions Profit and Loss - Question 13

A person buys apples at 10 for Rs.180 and sells them at 11 for Rs. 200. What is his gain or loss per cent?
a)1%  profit     b)1.01% loss   c)2% loss        d)1.01% profit

Answer: D

Explanation: Here the number of apples bought and sold is not equal. So we cannot find the profit or loss%.

To find profit or loss , we have to make the number of apples bought and sold are equal

To do this , we take , LCM of 10 and 11 = 110
CP of 110 Apples = 110×180  = Rs. 1980

SP of 110 Apples = 110×200 = Rs. 2000

Profit = Rs 2000 - Rs 1980 = Rs 20

Profit % = 

20 / 1980

×100   = 1.01%.

Short cut : If a person bought A article for B rupees  and sold C articles for D ruppes , then profit or loss % =

(AD - BC) / BC

    X 100%

         Here bought 10 apples at Rs 180 and sold 11 at Rs 200

   Profit or loss$ =

(10 X 200)- (11 X 180) / 11 X 180

    x 100% = 1.01%

Aptitude Questions with Explanations Profit and Loss - Question 14

The cost price of 20 apples is equal to the selling price of 25 apples. Find the profit or loss ?

a)    20%    loss  b)25% profit  c)  20% profit      d)25% loss

Answer: A

Explanation:

Let CP of each apple is Rs 1.    Then CP of 20 apples is Rs 20.

CP of 25 apples = Rs 25

But SP of 25 apples = CP of 20 apples

   His investment for 25 apples  is Rs 25 but he got only the CP of 20 apples Rs 20

So his investment is Rs 25 and income is Rs 20

So there is a loss

                    Loss % =

5 / 25

   x 100%

                                = 20% loss

Alternate Method:  If cost price m articles are equal to selling price of n articles

              Then profit or loss % =

(m-n) / n

    x 100%

                                             =

(20-25) / 25

   x 100%

                                             = - (

5 / 25

)   x 100% = 20% loss

Arithmetic Questions with Explanations Profit and Loss - Question 15

The cost price of 6 apples is equal to the Selling price of 4 apples .Find the gain or loss%

a)25%gain     b)25% loss      c)50% loss      d)50% gain

Answer: D

Explanation: 

        Given CP of 6 apples = SP of 4 apples

If cost price m articles are equal to selling price of n articles

              Then profit or loss % =

(m-n) / n

    x 100%

                                             =

(6-4) / 4

   x 100%

                                             =

2 / 4

   x 100% = 50% gain.

Aptitude Questions with Answers  Profit and Loss - Question 16

On selling an article for Rs 1020, a merchant loses 15%. For how much price should he sell the article to gain 12% on it ?

a)Rs 1344     b)Rs 1400       c)Rs 1200        d)Rs 1500

Answer: A

Explanation:  SP= Rs 1050 Loss = 15%

                Let CP = 100%

ð  SP = CP – Loss%  = 100%  -  15%  = 85%

85% = Rs 1020

Therefore Cost Price = 100% = 1020/85 x 100   = 1200

To get 12% gain => SP = CP + Profit %

                                   = 100 % + 12 % 
        => 112 % =

1200 / 100

   x 112   = Rs 1344

By selling 44 meters of cloth, a merchant gains the selling price of 11 meters. What is the gain%?

Let CP of each meter is Rs 1.

He sold 44 meters cloth, so CP of 44 meters cloth = Rs 44.

Aptitude Questions with Explanations Profit and Loss - Question 17.

The profit obtained by selling an article for Rs 960 is same as the loss obtained by selling for Rs 600. What is the cost price of the article ?

a)    Rs 840    b)Rs 780    c)Rs 800         d)Rs 750

Answer: B

Explanation :  Here profit and loss are same

                                   Profit  = Loss

                                 SP –CP   = CP –SP

                              960 –CP   = CP – 600

                                    2 CP = 1560

                                        CP= 780

Aptitude Questions with Solutions Profit and Loss - Question 18.

The profit obtained by selling an article for Rs 480 is twice the loss obtained by selling for Rs 300. What is the cost price of the article?

b)    Rs 400               b)Rs 420      c)Rs 360     d)Rs 350

Answer: B

Explanation :  Here pofit is the twice the  loss

                                   Profit   = 2 Loss

                                 SP –CP   = 2 (CP – SP)

                                 480 –CP   = 2(CP – 300)

                                     3 CP = 1080

                                       CP= 360

    

Arithmetic Questions and Answers - Profit and Loss - Solved Problems 19

A bookseller sold a book at 12% profit. Had he sold it Rs 36 more , 18% would have been gained . What is the cost proce ?

a)    Rs 600      b) Rs 540        c)Rs 660        d)Rs 800

Answer : A

Explanation : Let the cost price be 100%

                  112 % of the cost price + 36 = 118% of the Cost price

                          6% of the cost price = Rs 36

                  Cost price of the book =

36 / 6

   x   100 =   600

Aptitude Questions with Solutions  Profit and Loss Question 20

A merchant sold an article at 10% loss. If he had sold it Rs 450 more ,  8% would have been gained on the cost price. Find the cost price ?

a)    Rs 1200      b) Rs 1800       c)Rs 1500         d) Rs 2500

Answer : D

Explanation : Let the cost price be 100%. It is sold at 10% loss. So it is sold at 90% of the cost price.

                 90  % of the cost price + 450 = 108% of the Cost price

  18% of the cost price = Rs 450

  Cost price of the book =

450 / 18

   x   100 =   Rs 2500