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 seller sold an article for $$Rs.15000$$ and gained $$10 \ \%$$ profit. Find the cost price of the article?

1. $$Rs.13636.36$$
2. $$Rs.12358.52$$
3. $$Rs.12246.68$$
4. $$Rs.13530.24$$

Answer: (a) $$Rs.13636.36$$

Solution: Given, selling price (SP) = $$Rs.15000$$

profit percent = $$10 \ \%$$, then $$SP = \frac{100 + P \ \%}{100} \times CP$$ $$15000 = \frac{100 + 10}{100} \times CP$$ $$CP = Rs.13636.36$$

1. The market price of a mobile is $$Rs.8000$$, which is $$10 \ \%$$ greater than the cost price. If it is sold at a discount of $$2 \ \%$$ on the market price, then find the profit percent of the seller?

1. $$5.6 \ \%$$
2. $$7.8 \ \%$$
3. $$6.5 \ \%$$
4. $$8.2 \ \%$$

Answer: (b) $$7.8 \ \%$$

Solution: Given, market price (selling price) = $$Rs.8000$$

market price is $$10 \ \%$$ greater than the cost price then the actual cost price of the mobile $$SP = \frac{100 + P \ \%}{100} \times CP$$ $$8000 = \frac{100 + 10}{100} \times CP$$ $$CP = Rs.7272.72$$ If mobile sold at $$2 \ \%$$ discount then $$SP = \frac{100 - L \ \%}{100} \times CP$$ $$SP = \frac{98}{100} \times 8000$$ $$SP = Rs.7840$$ profit on cost price, $$Profit = 7840 - 7272.72$$ $$= Rs.567.28$$ then the profit percent, $$P \ \% = \frac{567.28}{7272.72} \times 100$$ $$= 7.8 \ \%$$

1. A man purchased a book at $$Rs.400$$ and sold it at a profit of $$5 \ \%$$. What would have been the increase in the profit percent if it was sold for $$Rs.450$$?

1. $$7.5 \ \%$$
2. $$5.5 \ \%$$
3. $$8.5 \ \%$$
4. $$4.5 \ \%$$

Answer: (a) $$7.5 \ \%$$

Solution: profit amount if book is sold at the profit of $$5 \ \%$$, $$= 400 \times \frac{5}{100} = Rs.20$$ profit amount if book is sold at $$Rs.450$$, $$= 450 - 400 = Rs.50$$ Hence, increased profit percent, $$P \ \% = \frac{50 - 20}{400} \times 100$$ $$= 7.5 \ \%$$

1. A man purchased $$100$$ chocolates at the rate of $$Rs.10$$ per dozen. If the man sold all the chocolates at the rate of $$Rs.2$$ per chocolate, then find the profit percent of the man?

1. $$112.23 \ \%$$
2. $$136.58 \ \%$$
3. $$140.96 \ \%$$
4. $$142.12 \ \%$$

Answer: (c) $$140.96 \ \%$$

Solution: cost price of $$12$$ chocolates = $$Rs.10$$

cost price of $$1$$ chocolate = $$\frac{10}{12}$$ = $$Rs.0.83$$

selling price of $$1$$ chocolate = $$Rs.2$$

profit amount per chocolates = $$2 - 0.83$$ = $$Rs.1.17$$

then profir percent, $$P \ \% = \frac{1.17}{0.83} \times 100$$ $$= 140.96 \ \%$$

1. A girl bought a dress at $$Rs.5000$$ and sold it at $$Rs.4500$$. Find the loss percent of the girl?

1. $$5 \ \%$$
2. $$10 \ \%$$
3. $$15 \ \%$$
4. $$20 \ \%$$

Answer: (b) $$10 \ \%$$

Solution: Given, cost price (CP) = $$Rs.5000$$

selling price (SP) = $$Rs.4500$$, then $$SP = \frac{100 - L \ \%}{100} \times CP$$ $$4500 = \frac{100 - L \ \%}{100} \times 5000$$ $$L \ \% = 10 \ \%$$

1. A man sold a book at $$Rs.1000$$ and gained $$20 \ \%$$ profit find the cost price of the book?

1. $$Rs.800.63$$
2. $$Rs.735.33$$
3. $$Rs.833.33$$
4. $$Rs.655.34$$

Answer: (c) $$Rs.833.33$$

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

profit percent = $$20 \ \%$$, then $$SP = \frac{100 + P \ \%}{100} \times CP$$ $$1000 = \frac{100 + 20}{100} \times CP$$ $$CP = Rs.833.33$$

1. A shopkeeper purchased bananas at the rate of $$Rs.80$$ per hundred. If he spends $$10 \ \%$$ on the transportation, then what should be the selling price per hundred to earn a profit of $$20 \ \%$$?

1. $$Rs.104.3$$
2. $$Rs.106.2$$
3. $$Rs.104.5$$
4. $$Rs.105.6$$

Answer: (d) $$Rs.105.6$$

Solution: cost of hundred bananas after transportation, $$= 80 + 80 \times \frac{10}{100}$$ $$= Rs.88$$ selling price per hundred bananas to earn $$20 \ \%$$ profit, $$= 88 + 88 \times \frac{20}{100}$$ $$= Rs.105.6$$

1. A man purchased chocolates at the rate of $$Rs.50$$ per hundred. He spends $$20 \ \%$$ on the transportation. Find the cost price of the chocolates per hundred after transportation?

1. $$Rs.80$$
2. $$Rs.75$$
3. $$Rs.60$$
4. $$Rs.65$$

Answer: (c) $$Rs.60$$

Solution: cost of hundred chocolates after transportation, $$= 50 + 50 \times \frac{20}{100}$$ $$= Rs.60$$

1. A man bought a watercooler for $$Rs.5000$$ and spends $$10 \ \%$$ on transportation. Find the cost price of the watercooler after transportation?

1. $$Rs.5200$$
2. $$Rs.5300$$
3. $$Rs.5400$$
4. $$Rs.5500$$

Answer: (d) $$5500$$

Solution: cost of watercooler after transportation, $$= 5000 + 5000 \times \frac{10}{100}$$ $$= Rs.5500$$

1. When an article is sold for $$Rs.80$$, there is a loss of $$20 \ \%$$. Find the cost price of the article?

1. $$Rs.110$$
2. $$Rs.120$$
3. $$Rs.100$$
4. $$Rs.150$$

Answer: (c) $$Rs.100$$

Solution: Given, selling price (SP) = $$Rs.80$$

Loss percent = $$20 \ \%$$, then $$SP = \frac{100 - L \ \%}{100} \times CP$$ $$80 = \frac{100- 20}{100} \times CP$$ $$CP = Rs.100$$