Profit and Loss – Aptitude Questions and Answers

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

Answer: D

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
   
Answer: C

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

Answer: D

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

Answer: A

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

Answer: E

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

Answer: A

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

Answer: C

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

Answer: B

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

Answer: B

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

Answer: C

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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