Quantitative Aptitude: Profit and Loss Set 2 (Basic Questions)

Basic Profit and Loss Questions with tricks for all banking, insurance, SSC and other exams.

  1. By selling 20 articles, a person gains CP of 5 articles. Find the profit% incurred by him.
    A) 33 1/3%
    B) 25%
    C) 20%
    D) 16 2/3%
    E) None of these
    View Answer
    Option B
    Solution:

    Profit = SP – CP
    CP of 5 articles = SP of 20 article – CP of 20 articles
    So CP of 25 articles = SP of 20 articles
    Profit% = 5/20 * 100 = 25%
  2. A person wants to sell his goods at 20% profit after allowing a discount of 16 2/3% on marked price. How much % above the cost price should he mark his article?
    A) 20%
    B) 36 2/3%
    C) 34 5/6%
    D) 44%
    E) 38%
    View Answer
    Option D
    Solution:

    Use formula:
    MP = (100+p%)/(100-d%) * CP
    OR
    Profit%= 20% = 1/5 (profit = 1, CP = 5)
    SP = CP+P = 5+1 = 6……(1)
    Discount% = 16 2/3% = 50/3% = 1/6 (discount = 1, MP = 6)
    Mp – discount = SP
    6 – 1 = 5…………(2)
    Make SP equal in both equations (1) and (2)
    Multiply (1) by 5 and (2) by 6
    so CP : SP : MP = 25 : 30 : 36
    So see CP and MP, required % = (36-25)/25 * 100 = 44%
  3. Three successive discounts of 20%, 25% and 16 2/3% is equivalent to
    A) 50% profit
    B) 56 2/3% profit
    C) 40% loss
    D) 125/3% loss
    E) 25/6% profit
    View Answer
    Option A
    Solution:

    Use successive formula:
    a + b + a*b/100
    So – 20 – 25 + 20*25/100 = -40%
    Next: -40 – 50/3 + (50)(50/3)/100 = -50%
    OR
    20% = 1/5 5 -> 4
    25% = 1/4 4 -> 3
    16 2/3% = 1/6 6 -> 5
    Cancel out like this:
  4. After selling a table worth Rs 12000 at 20% loss, a trader buys a TV with the same money. Next he sold the TV at 20% profit. What is his profit/loss in the whole transaction?
    A) Rs 480 loss
    B) Rs 450 loss
    C) Rs 480 gain
    D) No profit no loss
    E) Rs 420 gain
    View Answer
    Option A
    Solution:

    12000 – 2400 (20% loss) = 9600
    9600 + 1920 (20% profit on 9600) = 11520
    So 12000 – 11520 = 480 Rs loss
  5. A sold a watch to B at 10% loss. B sold it to C at 11.11% loss and c again sold it to A at 12.5% profit. How much profit/loss % is incurred by A?
    A) 10% profit
    B) 12% profit
    C) 10% loss
    D) 15% loss
    E) No profit no loss
    View Answer
    Option E
    Solution:

    A to B to C
    A to B 10% loss, 10% = 1/0. So SP for A = 10-1 = 9
    B to C 11.11% loss, 11.11% = 1/9, so SP for B = 9-1 = 8
    C to A 12.5% profit, 12.5% = 1/8, so SP for C or CP for A = 1+8 = 9
    A first sold to B at 9, and after he got from C at 9, so no profit no loss
  6. After selling an article at some price, a trader gain 20% on the selling price. Find his profit% on the cost price.
    A) 50%
    B) 33 1/3%
    C) 16 2/3%
    D) 25%
    E) 15 1/5%
    View Answer
    Option D
    Solution:

    Profit = 20% on SP
    20% = 1/5, (1 – profit, 5 – SP)
    CP = SP – Profit
    4 = 5 – 1
    so profit% on CP = profit/CP *100 = 1/4 * 100 = 25%
  7. A man bought some toffees at the rate of 3 toffees per Re. and same number at the rate of 2 toffees per Re. He mixes them and sold 3 toffees for Rs 2. Find his profit/loss% in the whole transaction.
    A) 20% loss
    B) 20% profit
    C) 60% loss
    D) 60% profit
    E) None of these
    View Answer
    Option D
    Solution:

    Let he buys 6 toffees
    Case 1: 3 toffees per Re so 6 toffees for Rs 2
    Case 2: 2 toffees per Re so 6 toffees for Rs 3
    Total CP of 12 toffees = 2+3 = 5
    Now he sold at 3 for Rs 2. So 12 toffees for Rs 8
    Now CP = Rs 5, SP = Rs 8, so profit% = 3/5 * 100 = 60% profit
  8. A shopkeeper sold his articles at cost price. But he used false weights and gives 800 gm instead of 1 kg. Find his profit%.
    A) 16 2/3%
    B) 20%
    C) 10%
    D) 33 1/3%
    E) None of these
    View Answer
    Option E
    Solution:

    CP of 1000 gm = SP of 800 gm
    So gain% = (1000-800)/800 * 100 = 25%
  9. A trader sold his goods at 20% profit and along with this he used weights of 800 gm instead of 1 kg. Find his total profit%.
    A) 40%
    B) 45%
    C) 50%
    D) 55%
    E) 60%
    View Answer
    Option C
    Solution:

    Profit is 20%. So
    1000 gm + 20% of 1000 gm = 1200 gm
    so CP of 1200 gm = SP of 800 gm
    Sp profit% = (1200-800)/800 * 100 = 50%
  10. A loss of 20% is made by selling an article. Had it been sold for Rs 240 more, there would have been a profit of 10%. What would be the selling price of the article if it is sold at 25% profit?
    A) Rs 950
    B) Rs 1020
    C) Rs 975
    D) Rs 1000
    E) Rs 1075
    View Answer
    Option D
    Solution:

    Loss = 20% = 1/5 (loss = 1, CP = 5)
    CP – Loss = SP
    5 – 1 = 4……….(1)
    Profit% = 10% = 1/10 (Profit = 1, CP = Rs 10)
    CP + P = SP
    10 + 1 = 11 …….(2)
    Make CP same in both equations (1) and (2) by multiplying (1) by 2. SO
    10   –  2 =  8
    And 10 + 1 = 11
    So first, SP was 8, now is 11
    So (11-8)    ->    240
    3     ->      240
    So 10 (CP)    ->    240/3  * 10 = 800
    So after 25% profit SP   ->  1000

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19 Thoughts to “Quantitative Aptitude: Profit and Loss Set 2 (Basic Questions)”

  1. (¯·.¸¸.-> °º åɱβȋ º° <-.¸¸.·¯)

    mam…4th ques main confusion ho rhi hai `12000 is sp as per the language of ques but sol ke according wo cp hai

    1. Yes that should be CP in que

      1. karthik

        10th answer should be 500 in my way… please

  2. (¯·.¸¸.-> °º åɱβȋ º° <-.¸¸.·¯)

    ty mam 🙂

    1. Khal Drogo

      Thanx mujhe yaha lane k liye… 🙂 mujhe pata nai tha 🙁

      1. (¯·.¸¸.-> °º åɱβȋ º° <-.¸¸.·¯)

        :))

    2. Khal Drogo

      n bst of lck 🙂

      1. (¯·.¸¸.-> °º åɱβȋ º° <-.¸¸.·¯)

        mera koi exam nhi hai ….aapko all the best

        1. Khal Drogo

          mere v nai :-p not eligible to aply.. july 1 2016 ko degree ka reslt out huwa tha 🙁 n candidate whose reslt out by june 30 cd apply.

          1. Hope 2017

            result date dont consider..date mention on ur dmc is considered..

          2. Hope 2017

            and both are different

          3. Khal Drogo

            dat only m saying.. mentioned date is 1 july 2016 :p

    3. Pulkit

      jagte raho…:)

  3. COLD BLOOD

    nice trick #3, haven’t seen it before. tyy mam:)

  4. sachin shukla@ my turn 2017

    ty)))

  5. destiny Casimiro

    tq

  6. karthik

    10th question answer should be 500 not 1000

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