Quantitative Aptitude: Profit and Loss Set 10

Profit and Loss Questions for IBPS PO, IBPS RRB, NICL, UIICl, OICL, RBI Grade B/Assisatant, Bank of Baroda and other competitive exams.

1. If Joel sells an article at 4/5th of its selling price and secures a profit of 20%, what will be the profit or loss percentage if he sells it at the actual selling price?
   A) 45%
   B) 60%
   C) 50%
   D) 56%
   E) None
   
   View Answer

   Option C
   Solution:
   Let CP is Rs100
   Profit 20% Means ==> 120.
   120=4/5SP==>SP =150.
   Then profit %ge is 50%
   
2. A product costs a company Rs 60 to manufacture, and it sold the product to a dealer for Rs 70, who in turn sold it to a shopkeeper for Rs 85, who sold to a customer for Rs 102. What is the percentage of profit for the company and who made the highest profit on selling the product?
   A) 20 1/3%, Company
   B) 16 2/3%, Dealer
   C) 20 1/3% ,Dealer
   D) 16 2/3%, Shopkeeper
   E) None
   
   View Answer

   Option B
   Solution:
   Company Profit %ge is (70-60)10/60*100=100/6=16 2/3.
   Then Dealers Profit %ge is (85-70)15/70*100=150/7=21 3/7.
   Then Shopkeeper Profit %ge is (102-85)17/85*100=20
   Among the three Dealer get the highest profit %ge.
3. Navya buys a certain number of toys at 12 per Rs 9 and the same number at 18 per Rs 9. If she sells them at 18 per Rs15 does she gain or lose and by what percentage?
   A) 33 1/3 % loss
   B) 12% gain
   C) 33 1/3 % gain
   D) 12% loss
   E) None
   
   View Answer

   Option C
   Solution:
   She bought 12 toys at Rs 9.
   And 18 toys at Rs 9
   Then 12toys = 18 9
   12 ?==6
   Total 24toys =(9+6)15.
   She sells 18 toys at Rs 15.
   Now 18 15
   (12+12) 24 ? ==>20
   Profit %ge is 15/20*100=300/4=33 1/3%.
   
4. A shopkeeper sells Marker at the rate of Rs.35 each and earns a commission of 10%. He also sells Gel pen at the rate of Rs. 65 each and earns a commission of 20%. How much amount (in rupees) of commission will he earn in 2 weeks, if he sells 12 markers and 8 Gel pens a day?
   A) 2100
   B) 1850
   C) 2044
   D) 2680
   E) None
   
   View Answer

   Option C
   Solution:
   Commission for marker=(35*12)*10/100=42
   Commission for Gel pen =(65*8)*20/100=104
   Total Commission earned in 2 weeks is, (104+42)*14=2044.
   
5. A discount of 20% is given on the marked price of an article. The shopkeeper charges sales tax of 10% on the discounted price. If the selling price be Rs 1848, what is the marked price (in rupees) of the article?
   A) 2500
   B) 3200
   C) 3600
   D) 2100
   E) None
   
   View Answer

   Option D
   Solution:
   Let the MP be x
   Then x* 80/100(20%discount) *110/100(10%sales) =1848
   X=2100
6. A calculate his profit %ge on the selling price whereas B calculate his on the cost price. They find that the difference of their profit is Rs 150. If the selling price of both of them are same and both of them get 20% profit, find their selling price (in rupees).
   A) 2500
   B) 3000
   C) 3200
   D) 4000
   E) None
   
   View Answer

   Option E
   Solution:
   Let SP is x
   A’s profit =x*20/120=x/6    [A calculate his profit %ge on the selling price, so at 20% profit, selling price = 100+20] B’s profit =x*20/100=x/5
   Diff is x/6-x/5=150
   x/30=150==>x=4500 
7. A person sells two fans for Rs. 6800. The cost price of the first fan is equal to the selling price of the second fan. If the first is sold at 30% loss and the second at 100% gain, what is total profit or loss (in rupees)?
   A) 750
   B) 800
   C) 670
   D) 580
   E) None
   
   View Answer

   Option B
   Solution:
   Let the cp of 1st fan = sp of 2nd fan = Rs 100
   ∴ sp of 1st fan = 70(loss 30%)
   Cp of 2nd fan = 50 (profit 100%)
   Total cp = 100 + 50 = 150
   and total sp = 70 + 100 = 170
   ∴ When SP = 6800,
   then cp = 150/170 x 6800 = 6000
   ∴ Profit = 6800 – 6000 = 800
   
8. A dealer allowed a discount of 25% on marked price of Rs.20,000 on an article and incurred a loss of 20%. What discount should he allow on the marked price so that he gains Rs.450 on the article?
   A) 6.5%
   B) 5%
   C) 4.25%
   D) 4%
   E) None
   
   View Answer

   Option D
   Solution:
   25% discount==>20,000*75/100=15000
   Then loss 20% means x*80/100=15000=3750*5=18750
   He gain 450 means SP=18750+450=19200
   Now 20000-19200=800
   %ge =800/20000*100=4%
9. A dealer marked the price of an item 20% above cost price. He allowed two successive discounts of 20% and 25% to a customer. As a result he incurred a loss of Rs.1400. At what price (in rupees) did he sell the item to the customer?
   A) 3600
   B) 4200
   C) 3850
   D) 4125
   E) None
   
   View Answer

   Option A
   Solution:
   CP = 100
   MP = 120
   120*80/100 = 96; 96*75/100 = 72
   Loss = 100 – 72 = 28%
   CP = 100/28*1400 = 5000
   SP = 5000*72/100 = 3600
   
10. A reputed company sells a wrist watch to a wholesaler making a profit of 10%. The wholesaler, in turn, sells it to the retailer making a profit of 10%. A customer purchases it by paying Rs. 990. Thus the profit of retailer is 2(3/11)% What is the cost (in rupees) incurred by the the company to produce it?
    A) 600
    B) 700
    C) 800
    D) 900
    E) None
    
    View Answer

    Option C
    Solution:
    x*110/100*110/100*(100 + 25/11)/100 = 990
    x = 800