# Quantitative Aptitude: Profit and Loss Set 1

Profit and Loss Bank PO Questions

1. A loss of 10% is made by selling an article. Had it been sold for Rs 75 more, there would have been a profit of 5%. What would be the selling price of the article if it is sold at 15% profit?
A) Rs 475
B) Rs 520
C) Rs 575
D) Rs 425
E) None of these
Option C
Solution:

Use shortcut for these type of questions:
CP of article = 75 × 100/ [5 – (-10)] (+5 for 5% profit, -10 for 10% loss)
So SP at 15% profit = 115/100 * CP = (115/100) * [75 × 100/15] = Rs 575
2. A profit of 20% is made when an article is sold for Rs 720. What will be the profit % if the same article is sold for Rs 630?
A) 12%
B) 9%
C) 3%
D) 5%
E) 8%
Option D
Solution:

Let x% is the required profit. So
630 = [(100+x)/100] * [100/120 * 720]
Solving, we get, x = 5% profit
3. A trader gets a profit of 30% on buying a kg of wheat. By mistake, he sold 1200 grams of wheat at the price of 1 kg. Find his net profit/loss%.
A) 25/3% profit
B) 55/3% profit
C) 30/11% loss
D) 125/3% loss
E) 25/6% profit
Option A
Solution:

He sold 1200 grams of wheat at the price of 1 kg, means he incurs a loss here.
That loss% = (1200-1000)/1200 * 100 = 50/3%
Now there was a profit of 30% while buying and now a loss of 50/3% while selling. So successive method can be used here:
Profit/loss% = 30 + (-50/3) + (30)(-50/3)/100 = + 25/3%
4. A trader bought 8 kg of rice at Rs 10 per kg. While selling he uses false weights of 1600 gm instead of 2 kg. What profit did he make by selling 8 kg of rice bought?
A) Rs 18
B) Rs 30
C) Rs 20
D) Rs 26
E) Rs 33
Option C
Solution:

He uses 1600 grams weight instead of 2 kg, means he makes a profit here.
That profit% = (2000-1600)/1600 * 100 = 25%
1 kg or 1000 gm costed him Rs 10. So 1600 gms costs his Rs 16.
Now on selling each 1600 gms he makes 25% profit. So profit = 25/100 * 16 = Rs 4
On selling each 1600 gms, he makes a profit of Rs 4, so on selling 5 * 1600 = 8000 gms or 8 kg, he makes a profit of 5 * 4 = Rs 20
5. There is a profit of 20% on an article, when a discount of 10% is given. What will be the profit % on the article if discount given is 20%?
A) 2 1/3%
B) 7%
C) 4 4/5%
D) 8%
E) 6 2/3%
Option E
Solution:

P2% = (100+p%1) [ (100 – d2%)/(100 – d1%)] – 100
So P2% = (100+20) [ (100 – 20)/(100 – 10)] – 100 = 120 * (80/90) – 100 = 20/3%
6. Two mobiles are sold at same price. If on one, a profit of 25% is made and on another, a loss of 10% is incurred, find the net profit/loss%.
A) 10 62/99%
B) 15 12/33%
C) 6 14/23%
D) 4 28/43%
E) 15 1/5%
Option D
Solution:

profit 25% = 125, loss 10% = 90. Let SP of each mobile = LCM of (125 and 90) = 2250
So CP1 = 100/125 * 2250 = Rs 1800, and CP2 = 100/90 * 2250 = Rs 2500
So total SP = 2250+2250 = Rs 4500
Total CP = 1800+2500 = Rs 4300
So gain% = (4500-4300)/4300 * 100 = 200/43%
OR use formula:
gain/loss% = [100(25 – 10) – 2 (25)(10)] / [(100+25) + (100-90)] = (1500-500)/215 = + 200/43%
7. Cost price of milk is Rs x per litre and it is sold at Rs 1.5x per litre. If the milkman mixes 2 litres water with every 4 litres of pure milk while selling, what is his profit percentage?
A) 100%
B) 125%
C) 80%
D) 25%
E) 55%
Option B
Solution:

Let CP of 1 l pure milk = Re 1
Then CP of 4 l of milk = Rs 4, and CP of 2 l of water = Rs 0. So CP of 6 l mixture = Rs 4
And SP of 6 l of mixture = 6*1.5 = Rs 9
So profit% = (9-4)/4 * 100 = 125%
8. The profit% made by selling an article for Rs 2200 is same as the loss% made by selling the same article for Rs 1700. What would be the selling price of the article if it is sold at 10% profit?
A) Rs 2145
B) Rs 2080
C) Rs 1975
D) Rs 1900
E) Rs 2180
Option A
Solution:

Let CP of article = Rs x
So (2200 – x)/x * 100 = (x – 1700)/x * 100
So 2200 – x = x – 1700
Solving, we get x = Rs 1950
So SP = 110/100 * 1950 = Rs 2145
9. Due to reduction of 20% in price of pens a customer can purchase 5 more pens for Rs. 40. What is the original price of a pen?
A) Rs 5
B) Rs 3
C) Rs 2
D) Rs 6
E) Rs 8
Option C
Solution:

There is 20% reduction in price. So to keep the total amount same, consumption should increase by 20/(100-20) * 100 = 25%
For 25% (25/100 = 1/4) increase in consumption, customer can purchase 5 more pens
So original price of pens = 4*5 = Rs 20
So original price of 1 pen = 40/20 = Rs 2
10. If the cost price of 200 pens is equal to the selling price of 160 pens, the gain/loss % is
A) 14% loss
B) 25% gain
C) 12% gain
D) 16% loss
E) 22% gain