Profit and Loss Questions and Answers : Quantitative

Aptitude
FORMULAS:

1. SP > CP --> Profit

2. SP < CP ---> Loss

3. MRP - P ---> SP

4. Profit and Loss is always depended on Cost price only

1. A table is bought for Rs.400/- and sold at Rs.500/- find gain or loss percentage

A.) 25%loss B.) 30%gian

C.) 25%gian D.) 30%loss

 Show Answer

Answer: Option 'C'

Formula = (Selling price ~ Cost price)/Cost price * 100

= (500 - 400)/400 = 25% gain

2. A chair is bought for Rs.900/- and sold at Rs.810/- find the loss percentage

A.) 10%gain B.) 10%loss

C.) 12%loss D.) 12%gain

Show Answer

Answer: Option 'B'

Formula = (Selling price ~ Cost price)/Cost price * 100

= (810 ~ 900)/900 = 10% Loss

3. A bat is bought for Rs.400 and sold at a gain of 20% find its selling price

A.) Rs.320/- B.) Rs.350/-

C.) Rs.370/- D.) Rs.480/-

Show Answer

Answer: Option 'D'

100 % ------> 400 (100 * 4 = 400)

120 % ------> 480 (120 * 4 = 480)

Selling price = Rs.480/-

4. A chair is bought for Rs.600/- and sold at a loss of 10% find its selling price

A.) Rs.540/- B.) Rs.560/-

C.) Rs.580/- D.) Rs.600/-

Show Answer

Answer: Option 'A'

100 % ------> 600 (100 * 6 = 600)

90 % ------> 540 (90 * 6 = 540)

Selling price = Rs.540/-

5. By selling a watch for Rs.640/-, a man loses 20% what is that watch cost price

A.) Rs.400/- B.) Rs.600/-

C.) Rs.800/- D.) Rs.1000/-

Show Answer

Answer: Option 'C'

80 % ------> 640 (80 * 8 = 640)

100 % ------>800 (100 * 8 = 800)

Cost price = Rs. 800/-

6. Harkamal purchased 8kg of grapes at the rate of 70 per kg and 9 kg of

mangoes at the rate of 55 per kg. How much amount did he pay to the shopkeeper?

A.) 1400 B.) 1505

C.) 1055 D.) 1005

Show Answer

Answer: Option 'C'

Cost of 8 kg grapes = 70 × 8 = 560.

Cost of 9 kg of mangoes = 55 × 9 = 490.

Total cost he has to pay = 560 + 490 = 1055.

7. Suresh started a business, investing Rs.18000. After 3 months and 4 months

respectively, Rohan and Sudhir joined him with capitals of 12000 and 9000. At the
end of the year the total profit was Rs.3982. What is the difference between Rohan’s
and Sudhir’s share in the profit?

A.) 354 B.) 370

C.) 362 D.) 121

Show Answer

Answer: Option 'C'

8. Narendra started a business, investing 30000. Six months later, Chandan

joined him with 15000. If they make a profit of 10000 at the end of the year, what
should be the share of Narendra?

A.) 6000 B.) 8000

C.) 7200 D.) 3600

Show Answer

Answer: Option 'B'

The ratio of their investments = 30000 × 12 : 15000 × 6 = 4 : 1.

:. Narendra’s share on profit of Rs.10000 = 10000 × 4/5 = Rs.8000.

9. By selling a book for 270, 20% profit was earned. What is the cost price of the book?

A.) 216 B.) 226

C.) 254 D.) 225

Show Answer

Answer: Option 'D'

SP = 120% of CP; :. CP = 270 × 100/120 = 225

10. A shopkeeper sold some articles @ 35 per article and earned a profit of 40%. At what
price each article should have been sold so that 60% profit was earned?

A.) 45 B.) 42

C.) 39 D.) 40

Show Answer

Answer: Option 'D'

SP = 140% of CP; :. CP = 35 × 100/140 = 25

Then, 60% of CP = 2.5 × 6 = 15

To set a profit of 60% the SP = 25 + 15 = 40.

 Profit and Loss Questions and Answers : Quantitative
Aptitude
1. 11. By selling a bat for Rs.720/- a man loses 10% what is that bat cost price

A.) Rs.800/- B.) Rs.820/-

C.) Rs.840/- D.) Rs.860/-

Show Answer

2. Answer: Option 'A'

90 % ------> 720 (90 * 8 = 720)

100 % ------>800 (100 * 8 = 800)

Cost price = Rs.800/-

3. 12. By selling a watch for Rs.720/- a man loses 10% at what price should he sell it to gain
10%?

A.) Rs.800/- B.) Rs.880/-

C.) Rs.900/- D.) Rs.990/-

Show Answer

4. Answer: Option 'B'

90 % ------> 720 (90 * 8 = 720)

110 % ------> 880 (110 * 8 = 880)

= Rs.880/-
 5. 13. A man sells an article at 10% gain. Had be sold at for Rs.60/- more he could
have gained 20% what is

cost price of article

A.) Rs.500/- B.) Rs.600/-

C.) Rs.700/- D.) Rs.800/-

Show Answer

Answer: Option 'B'

First selling price = 110 % -----> X Rupees

=sold at for Rs.60/- = 120 % -----> X + 60 Rupees
~
----------------------------------------------
10 % --------> 60
100 % ------->Rs.600/-
OR
Short cut method :
---------------------------
Profit,Profit = -
Ptofit,Loss = +
Loss,Loss = -
Loss,Profit = +
---------------------------
OPPOSITE ==> +
SAME ===> -
----------------------------
Profit ==> 10 %
profit ==> 20%
~
----------------
10 % ---------> 60
100 % --------> Rs.600/-

6. 14. A man sells an article at 5% loss. Had he sold it for Rs.60 more he could have gained
10%. What is the

cost price of the article?

A.) Rs.400/- B.) Rs.600/-

C.) Rs.722/- D.) Rs.700/-

Show Answer

7. Answer: Option 'A'

Short cut method:

Loss =====> 5 %
Profit ====> 10 %
8. ~
9. ----------------
10. 15 % ---------> Rs.60/-
11. 100 % --------> Rs.400/-

12. 15. A man sells an article at 7% loss. Had he sold it for Rs.72 more he could have gained 5%.
what is the

cost price of the article

A.) Rs.522/- B.) Rs.622/-

C.) Rs.722/- D.) Rs.600/-

Show Answer

13. Answer: Option 'D'

Short cut method:

Loss =====> 7 %
Profit ====> 5 %
14. ~
15. ----------------
16. 12 % ---------> 72
17. 100 % --------> Rs.600/-

18. 16. The price of two tables and three chairs is Rs.5600. What will be the price of six tables
and nine chairs?
A.) 16800 B.) 11200

C.) 22400 D.) None of these

Show Answer

19. Answer: Option 'A'

The cost of two tables + three chairs = 5600.

Multiply each term by 3, we get,

Cost of 6 table + 9 chairs = 16800.

20. 17. Amit purchased a book with a 10% discount on the labeled price. How much did he pay
if the labelled price

was 600?

A.) 480 B.) 360

C.) 540 D.) 340

Show Answer

21. Answer: Option 'C'

Selling Price = 600 – 10% of 600 = 600 – 60 = 540.

22. 18. Kaavya sold an item for 4080 and incurred a loss of 20%. At what price should she have
sold the item to

have gained a profit of 20%?

A.) 6120 B.) 5890

C.) 5100 D.) None of these