## Profit and Loss – Aptitude Questions and Answers

Profit and Loss aptitude questions and answers section with explanation. Practice online test for various interview, competitive and entrance exams.

1. Ramesh purchased a refrigerator for Rs. 12500 after getting a discount of 20% on the labelled price. He spent Rs. 125 on transport and Rs. 250 on installation. At what price should it be sold so that the profit earned would be 10% if no discount was offered?

A.Rs. 16500    B.Rs. 15525    C.Rs. 17000    D.Rs. 17600    E.None of these

Explanation:

Price at which the TV set is bought = Rs. 12,500
Discount offered = 20%
Marked Price = 12500 * 100/80 = Rs. 15625
The total amount spent on transport and installation = 125 + 250 = Rs. 375Total price of TV set = 15625 + 375 = Rs. 16000
The price at which the TV should be sold to get a profit of 10% if no discount was offered = 16000 * 110/100 = Rs. 17600

2. The successive discounts 20% and 15% are equal to a single discount of?

A.35%        B.38%        C.32%        D.29%        E.None of these

Explanation:

Let the CP of an article be Rs. 100
Given that successive discounts are 20% and 15%.
SP = 85% of 80% of 100 = (85/100)(80/100)(100)
=> SP = Rs. 68
Clearly, single discount is 32%.

3. Ravi purchased a refrigerator and a mobile phone for Rs. 15000 and Rs. 8000 respectively. He sold the refrigerator at a loss of 4 percent and the mobile phone at a profit of 10 percent. Overall he make a.

A.loss of Rs. 200    B.loss of Rs. 100    C.profit of Rs. 100    D.profit of Rs. 200    E.None of these

Explanation:

Let the SP of the refrigerator and the mobile phone be Rs. r and Rs. m respectively.
r = 15000(1 – 4/100) = 15000 – 600
m = 8000(1 + 10/100) = 8000 + 800
Total SP – Total CP = r + m – (15000 + 8000) = -600 + 800 = Rs. 200
As this is positive, an overall profit of Rs. 200 was made.

4. Mohit sold an article for Rs. 18000. Had he offered a discount of 10% on the selling price, he would have earned a profit of 8%. What is the cost price of the article?

A.Rs. 15000    B.Rs. 16200    C.Rs. 14700    D.Rs. 15900    E.None of these

Explanation:

Let the CP be Rs. x.
Had he offered 10% discount, profit = 8%
Profit = 8/100 x and hence his SP = x + 8/100 x = Rs. 1.08x = 18000 – 10/100(18000) = 18000 – 1800 = Rs. 16200
=> 1.08x = 16200
=> x = 15000

5. A trader marks his articles 20% more than the cost price. If he allows 20% discount, then find his gain or loss percent?

A.No profit No loss    B.4% profit    C.2% loss    D.2% profit    E.None of these

Explanation:

Let CP of an article = RS. 100
MP= Rs. 120
Discount = 20%
SP = M[(100 – d%)/100] = 120(80/100) = Rs. 96
Clearly, the trader gets 4% loss.

6. An article was sold after a discount of 20% and there was a gain of 20%. If the profit made on it was Rs. 6 less than the discount offered on it, find its selling price?

A.Rs. 72      B.Rs. 90      C.Rs. 66      D.Rs. 96      E.None of these

Explanation:

Let CP = Rs. 100x
SP = Rs. 120x
MP = 120x/80 * 100 = Rs. 150x
D = Rs. 150x – Rs. 120x = Rs. 30x
D – P = 30x – 20x = Rs. 6, 10x = Rs. 6
120x = 120/10 * 6 = Rs. 72

7. Mahesh marks an article 15% above the cost price of Rs. 540. What must be his discount percentage if he sells it at Rs. 496.80?

A.18%        B.21%        C.20%        D.19%        E.None of these

Explanation:

CP = Rs. 540, MP = 540 + 15% of 540 = Rs. 621
SP = Rs. 496.80, Discount = 621 – 496.80 = 124.20
Discount % = 124.2/621 * 100 = 20%

8. A fruit vendor purchased 20 dozens of bananas at Rs. 15 per dozen. But one-fourth of the bananas were rotten and had to be thrown away. He sold two-third of the remaining bananas at Rs. 22.50 per dozen. At what price per dozen should he sell the remaining bananas to make neither a profit nor a loss?

A.Rs. 20    B.Rs. 15    C.Rs. 22.50    D.Rs. 7.50    E.None of these

Explanation:

CP of 20 dozen of bananas = 15 * 20 = Rs. 300
Number of bananas which are rotten = 1/4 * 20 = 5 dozen.
SP of two-third of remaining bananas = (2/3 * 15) * 22.5 = Rs. 225
SP of remaining 5 dozens of bananas to make no profit and no loss =(300 – 225) = Rs. 75.
SP of 1 dozen bananas = 75/5 = Rs. 15.

9. A shopkeeper sells 20% of his stock at 10% profit ans sells the remaining at a loss of 5%. He incurred an overall loss of Rs. 400. Find the total worth of the stock?

A.Rs. 25000    B.Rs. 20000    C.Rs. 15000    D.Rs. 22000    E.None of these

Explanation:

Let the total worth of the stock be Rs. x.
The SP of 20% of the stock = 1/5 * x * 1.1 = 11x/50
The SP of 80% of the stock = 4/5 * x * 0.95 = 19x/25 = 38x/50
Total SP = 11x/50 + 38x/50 = 49x/50
Overall loss = x – 49x/50 = x/50
x/50 = 400 => x = 20000

10. After allowing a discount of 15% on the marked price, the selling price is Rs. 6800 for an article. If it was sold at marked price, there would have been a profit of 60%. The cost price of the article is?

A.Rs. 6400    B.Rs. 5600    C.Rs. 5000    D.Rs. 4800    E.None of these

Explanation:

Given SP = Rs. 6800
Marked price = [SP(100)]/(100 – d%) = (6800 * 100)/(100 – 15) = Rs. 8000
If SP = Rs. 8000, profit = 60%
CP = [SP(100)]/(100 + 60) = (8000 * 100)/160 = Rs. 5000

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