# 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
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%
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
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
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
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%
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
Option D
Solution:

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
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%
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
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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