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
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
∴ 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
Some simplification:
If he sells 100 candies in 5 Rupees; in 1 Re he sells 20 candies.
? candies are bought in Re. 1
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
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 %
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 = | 132 | x 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 = | 120 | x | 3200 x 100 |
| 100 | 80 |
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 = | 120 | x CP |
| 100 |
| ∴ CP = | 1 x 100 | = Rs. | 5 |
| 120 | 6 |
| If 20 candies are bought in Rs. | 5 |
| 6 |
| ? = | 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 = | 115 | x 8500 = Rs. 9775 |
| 100 |
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. | 1 | and 1 wind fan CP in 2nd shop = Rs. | 1 |
| 4 | 5 |
| On mixing these 2 wind fans, the cost price of these 2 will be = | 1 | + | 1 | = Rs. | 9 |
| 4 | 5 | 20 |
| So, CP of 1 wind fan = | 9/20 | = Rs. | 9 |
| 2 | 40 |
| 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 |
| 4 | 40 | 40 |
Tip:
| % Profit or Loss = | Profit or Loss | x 100 |
| Cost Price |
| % profit = | 1/40 | x 100 = | 100 | % = | 11 | 1 | % |
| 9/40 | 9 | 9 |
