Profit and Loss - Aptitude Questions and Answers

Profit and Loss Questions and Answers

Learn and practice the chapter "Profit and Loss" with these solved Aptitude Questions and Answers. Each question in the topic is accompanied by a clear and easy explanation, diagrams, formulae, shortcuts and tricks that help in understanding the concept.

Use of Profit and Loss Questions

The questions and examples given in this section will be useful to all the freshers, college students and engineering students preparing for placement tests or any competitive exam like MBA, CAT, MAT, SNAP, MHCET, XAT, NMAT, GATE, Bank exams - IBPS, SBI, RBI, RRB, SSB, SSC, UPSC etc.

Practice with this online test to crack your placements and entrance tests!
1. Given: Cost price -  Rs. 150; Gain - 32%;
Find: Selling Price.


a. Rs. 182
b. Rs. 195
c. Rs. 198
d. Rs. 214

Answer: c. Rs. 198

Explanation:

Tip:
If gain is A%, then Selling Price = (100+A)% of cost price


Selling Price = (100+32)% of 130 =132x 150 = Rs. 198
100


2. By selling a water heater for Rs. 3200, the shopkeeper incurs a loss of 20%. If he wants to earn a profit of 20%, at what price should he sell the water heater?

a. Rs. 4000
b. Rs. 4200
c. Rs. 4800
d. Rs. 5760

Answer: c. Rs. 4800

Explanation:

Tip:
If loss is A%, then Selling Price = (100 - A)% of cost price


Selling Price = 3200 = (100-20)% of CP =80*CP
100
∴ CP =3200 x 100
80
For profit = 20%, Selling Price = (100+20)% of CP =120x3200 x 100
10080
∴ Selling Price = Rs. 4800


3. A hawker sells 100 candies for 5 Rupees. If he manages to makes a profit of 20%, how many candies did he buy for a rupee?

a. 16
b. 24
c. 36
d. 40

Answer: b. 24

Explanation:

Tip:
If gain is A%, then Selling Price = (100+A)% of cost price


Some simplification:
If he sells 100 candies in 5 Rupees; in 1 Re he sells 20 candies.
Selling Price = Re. 1 = (120)% of CP =120x CP
100
∴ CP =1 x 100= Rs.5
1206
If 20 candies are bought in Rs.5
6
? candies are bought in Re. 1
? =20 x 6= 24 candies can be bought in 1 Re.
5


4. Jayshree wants to earn 15% profit by selling rice. She buys two varieties of rice.
Variety 1: 130 kg at Rs. 25/ Kg;
Variety 2: 175 kg at Rs. 30/ kg.
At what price per kg should she sell the rice mix per kg?


a. Rs. 28.4
b. Rs. 29
c. Rs. 31
d. Rs. 32.04

Answer: d. Rs. 32.04

Explanation:

Total cost of rice = 130 x 25 + 175 x 30 = Rs 8500/-

Selling Price = (100+15)% of 8500 =115x 8500 = Rs. 9775
100
Quantity = 130 + 175 = 305 Kg
S.P. / Kg = Rs 9775 / 305 = Rs 32.04/Kg


5. Ram buys some paper wind fans at 4 per rupee. He then buys same number of paper wind fans from another shop at 5 per rupee. He puts them all together and sells them at 4 per rupee. Will he make a profit or incur a loss? How much?

a. Profit = 115/9 %
b. Loss = 115/9 %
c. Profit = 100/9 %
d. Loss = 100/9 %

Answer: c. Profit = 100/9 %

Explanation:

1 wind fan CP in 1st shop = Rs.1and 1 wind fan CP in 2nd shop = Rs.1
45
On mixing these 2 wind fans, the cost price of these 2 will be =1+1= Rs.9
4520
So, CP of 1 wind fan =9/20= Rs.9
240
Actual price at which 1 wind fan is sold after combining = Rs.1
4
SP - CP =1-9=1= It is positive; so it is profit
44040

Tip:
% Profit or Loss =Profit or Lossx 100
Cost Price


% profit =1/40x 100 =100% =111%
9/4099