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
    View Answer
    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%
    View Answer
    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
    View Answer
    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
    View Answer
    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%
    View Answer
    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%
    View Answer
    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%
    View Answer
    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
    View Answer
    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
    View Answer
    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
    View Answer
    Option B
    Solution:

    Here CP is more, so gain%.
    Gain% = (200-160)/160 * 100 = 25%

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20 Thoughts to “Quantitative Aptitude: Profit and Loss Set 1”

  1. Purvi

    thanku mam 🙂

  2. ^^^Jaga^^^....

    Q6???formula x-y-xy/100..ye hai na??

    1. for 6th ?? OR some else question ?

      1. ^^^Jaga^^^....

        Question 6 mam

        1. nhi 6th me this will not be used

          It is used when there is successive profit or loss
          but here its not successive, profit and loss are on different products

    1. transaction ki bat ho rahi hai formula me, jab ek product pe phle profit hua and then loss hua on the same. Then it is used. like in 3rd q

      1. ^^^Jaga^^^....

        Hn mam…samjh gaya ….ye successive profit ya loss mai use hoga thank u..

  3. robin

    in question no 9 cost of one pen should be rs 2….m i right?

      1. karthik

        3rd question:
        Profit/loss% = 30 + (-50/3) + (30)(-50/3)/100 = + 25/3%

        i think 35/3%

    1. Hope 2017

      5th ques bta do without using formula

    2. Hope 2017

      or 9th bi

    3. Hope 2017

      thanks in advance..

  4. destiny Casimiro

    tq

  5. kumkum ahuja

    ty mam:)

  6. kumkum ahuja

    nice quiz 🙂

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