Profit and Loss Aptitude Questions and Answers:


Overview:


Questions and Answers Type:MCQ (Multiple Choice Questions).
Main Topic:Quantitative Aptitude.
Quantitative Aptitude Sub-topic:Profit and Loss Aptitude Questions and Answers.
Number of Questions:10 Questions with Solutions.

  1. A man purchased a handwatch at \(Rs.3000\) and sold it at \(Rs.3200\). Find the profit percent of the man?

    1. \(5.57 \ \%\)
    2. \(6.67 \ \%\)
    3. \(5.25 \ \%\)
    4. \(3.67 \ \%\)


Answer: (b) \(6.67 \ \%\)

Solution: Given, cost price (CP) = \(Rs.3000\)

selling price (SP) = \(Rs.3200\), then $$ Profit = SP - CP $$ $$ = 3200 - 3000 = 200 $$ now the profit percent, $$ P \ \% = \frac{200}{3000} \times 100 $$ $$ = 6.67 \ \% $$

  1. Rahul purchased a mobile at \(Rs.10000\) and sold it at \(Rs.8000\). Find the loss percent of the Rahul?

    1. \(20 \ \%\)
    2. \(15 \ \%\)
    3. \(25 \ \%\)
    4. \(30 \ \%\)


Answer: (a) \(20 \ \%\)

Solution: Given, cost price (CP) = \(Rs.10000\)

selling price (SP) = \(RS.8000\), then $$ Loss = CP - SP $$ $$ = 10000 - 8000 = 2000 $$ now the loss percent, $$ Loss \ \% = \frac{2000}{10000} \times 100 $$ $$ = 20 \ \% $$

  1. A women sold an article for \(Rs.3000\) and gained \(Rs.400\), then find the cost price of the article?

    1. \(Rs.3200\)
    2. \(Rs.3400\)
    3. \(Rs.2800\)
    4. \(Rs.2600\)


Answer: (d) \(Rs.2600\)

Solution: Given, selling price (SP) = \(Rs.3000\)

profit = \(Rs.400\), then $$ Profit = SP - CP $$ $$ 400 = 3000 - CP $$ $$ CP = Rs.2600 $$

  1. A man sold an article for \(Rs.8000\) and lost \(Rs.1500\), then find the cost price of the article?

    1. \(Rs.9500\)
    2. \(Rs.8500\)
    3. \(Rs.6500\)
    4. \(Rs.7500\)


Answer: (a) \(Rs.9500\)

Solution: Given, selling price (SP) = \(Rs.8000\)

loss = \(Rs.1500\), then $$ Loss = CP - SP $$ $$ 1500 = CP - 8000 $$ $$ CP = Rs.9500 $$

  1. Rohan purchased a book at \(Rs.200\) and sold at the profit of \(Rs.50\), then find the selling price of the book and profit percent of the Rohan?

    1. \(15 \ \%\)
    2. \(20 \ \%\)
    3. \(25 \ \%\)
    4. \(30 \ \%\)


Answer: (c) \(25 \ \%\)

Solution: Given, cost price (CP) = \(Rs.200\)

profit = \(Rs.50\), then $$ Profit = SP - CP $$ $$ 50 = SP - 200 $$ $$ SP = Rs.250 $$ $$ Profit \ \% = \frac{50}{200} \times 100 $$ $$ = 25 \ \% $$

  1. By selling a book for \(Rs.500\), the seller gains \(10 \ \%\), at what price should he sell the book to gain \(20 \ \%\) on the cost price?

    1. \(Rs.540.223\)
    2. \(Rs.545.445\)
    3. \(Rs.632.335\)
    4. \(Rs.626.662\)


Answer: (b) \(Rs.545.445\)

Solution: Given, selling price (SP) = \(Rs.500\)

profit percent = \(10 \ \%\), then $$ SP = \frac{100 + P \ \%}{100} \times CP $$ $$ CP = \frac{500}{100 + 10} \times 100 $$ $$ = \frac{500}{110} \times 100 $$ $$ = Rs.454.54 $$ \(20 \ \%\) of the cost price, $$ = \frac{454.54 \times 20}{100} $$ $$ = Rs.90.908 $$ Hence, to gain \(20 \ \%\) the book should be sold at Rs. $$ = 454.54 + 90.908 $$ $$ = Rs.545.445 $$

  1. By selling a pen for \(Rs.50\), a man gains \(5 \ \%\). Find the cost price of the pen?

    1. \(Rs.47.61\)
    2. \(Rs.45.26\)
    3. \(Rs.42.58\)
    4. \(Rs.44.81\)


Answer: (a) \(Rs.47.61\)

Solution: Given, selling price (SP) = \(Rs.50\)

profit percent = =\(5 \ \%\), then $$ SP = \frac{100 + P \ \%}{100} \times CP $$ $$ CP = \frac{SP}{100 + P \ \%} \times 100 $$ $$ = \frac{50}{100 + 5} \times 100 $$ $$ CP = Rs.47.61 $$

  1. By selling a watch for \(Rs.1000\), a shopkeeper incurs a loss of \(20 \ \%\). Find the cost price of the watch?

    1. \(Rs.1525\)
    2. \(Rs.1600\)
    3. \(Rs.1250\)
    4. \(Rs.1350\)


Answer: (c) \(Rs.1250\)

Solution: Given, selling price (SP) = \(Rs.1000\)

loss percent = =\(20 \ \%\), then $$ SP = \frac{100 - L \ \%}{100} \times CP $$ $$ CP = \frac{SP}{100 - L \ \%} \times 100 $$ $$ = \frac{1000}{100 - 20} \times 100 $$ $$ CP = Rs.1250 $$

  1. A man purchased a book for \(Rs.600\) and sold it at \(Rs.650\). Find the profit percent of the man?

    1. \(7.25 \ \%\)
    2. \(5.62 \ \%\)
    3. \(6.34 \ \%\)
    4. \(8.33 \ \%\)


Answer: (d) \(8.33 \ \%\)

Solution: Given, cost price (CP) = \(Rs.600\)

selling price (SP) = \(Rs.650\), then $$ CP = \frac{SP}{100 + P \ \%} \times 100 $$ $$ 600 = \frac{650}{100 + P \ \%} \times 100 $$ $$ P \ \% = 8.33 \ \% $$

  1. Rohit purchased a mobile at \(Rs.7000\) and sold it at \(Rs.6500\). Find the loss percent of the Rohit?

    1. \(6.16 \ \%\)
    2. \(8.28 \ \%\)
    3. \(7.14 \ \%\)
    4. \(5.69 \ \%\)


Answer: (c) \(7.14 \ \%\)

Solution: Given, cost price (CP) = \(Rs.7000\)

selling price (SP) = \(Rs.6500\), then $$ CP = \frac{SP}{100 - L \ \%} \times 100 $$ $$ 7000 = \frac{6500}{100 - L \ \%} \times 100 $$ $$ L \ \% = 7.14 \ \% $$