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. |

- A retailer purchased a mobile at \(Rs.5000\) and his overhead expenses are \(Rs.500\). If he sold the mobile at \(Rs.6000\), then find the profit percent of the retailer?
- \(6.12 \ \%\)
- \(7.06 \ \%\)
- \(8.03 \ \%\)
- \(9.09 \ \%\)

Answer: (d) \(9.09 \ \%\)

Solution: cost price of the mobile = \(5000 + 500\) = \(Rs.5500\)

selling price of the mobile = \(Rs.6000\)

profit amount = \(6000 - 5500\) = \(Rs.500\), then $$ Profit \ \% = \frac{profit}{CP} \times 100 $$ $$ = \frac{500}{5500} \times 100 $$ $$ Profit \ \% = 9.09 \ \% $$

Solution: cost price of the mobile = \(5000 + 500\) = \(Rs.5500\)

selling price of the mobile = \(Rs.6000\)

profit amount = \(6000 - 5500\) = \(Rs.500\), then $$ Profit \ \% = \frac{profit}{CP} \times 100 $$ $$ = \frac{500}{5500} \times 100 $$ $$ Profit \ \% = 9.09 \ \% $$

- If chocolates purchased at prices ranging from \(Rs.50\) to \(150\) and sold at prices ranging from \(Rs.100\) to \(Rs.250\). Find the greatest possible profit that might be made by selling \(10\) chocolates?
- \(Rs.1500\)
- \(Rs.1800\)
- \(Rs.2000\)
- \(Rs.2200\)

Answer: (c) \(Rs.2000\)

Solution: Least cost price of \(10\) chocolates = \(50 \times 10\) = \(Rs.500\)

greatest selling price of \(10\) chocolates = \(250 \times 10\) = \(Rs.2500\), then $$ Greatest \ Profit = 2500 - 500 $$ $$ = Rs.2000 $$

Solution: Least cost price of \(10\) chocolates = \(50 \times 10\) = \(Rs.500\)

greatest selling price of \(10\) chocolates = \(250 \times 10\) = \(Rs.2500\), then $$ Greatest \ Profit = 2500 - 500 $$ $$ = Rs.2000 $$

- If the selling price of \(9\) articles is equal to cost price of \(11\) articles, what is the profit or loss percent?
- \(20.5 \ \%\)
- \(21.6 \ \%\)
- \(22.2 \ \%\)
- \(23.3 \ \%\)

Answer: (c) \(22.2 \ \%\)

Solution: Let cost price of one article = \(Rs.1\)

cost price of \(9\) aricles = \(Rs.9\)

selling price of \(9\) articles = \(Rs.11\), then $$ Profit \ \% = \frac{Profit}{CP} \times 100 $$ $$ = \frac{2}{9} \times 100 $$ $$ = 22.2 \ \% $$

Solution: Let cost price of one article = \(Rs.1\)

cost price of \(9\) aricles = \(Rs.9\)

selling price of \(9\) articles = \(Rs.11\), then $$ Profit \ \% = \frac{Profit}{CP} \times 100 $$ $$ = \frac{2}{9} \times 100 $$ $$ = 22.2 \ \% $$

- A dishonest shopkeeper uses a \(900\) gram weight instead of \(1 \ kg\) weight. Find the percent profit of the shopkeeper?
- \(10.12 \ \%\)
- \(11.11 \ \%\)
- \(12.11 \ \%\)
- \(10.25 \ \%\)

Answer: (b) \(11.11 \ \%\)

Solution: Let cost price = \(x \ Rs/kg\)

cost price of \(900 \ gm\) = \(\frac{9 \ x}{10}\)

profit = \(x - \frac{9 \ x}{10}\), then $$ Profit \ \% = \frac{profit}{CP} \times 100 $$ $$ = \frac{x - \frac{9 \ x}{10}}{\frac{9 \ x}{10}} \times 100 $$ $$ = 11.11 \ \% $$

Solution: Let cost price = \(x \ Rs/kg\)

cost price of \(900 \ gm\) = \(\frac{9 \ x}{10}\)

profit = \(x - \frac{9 \ x}{10}\), then $$ Profit \ \% = \frac{profit}{CP} \times 100 $$ $$ = \frac{x - \frac{9 \ x}{10}}{\frac{9 \ x}{10}} \times 100 $$ $$ = 11.11 \ \% $$

- A dishonest shopkeeper sells sugar in a such a way that the selling price of \(850 \ grams\) is equal to cost price of \(1 \ kg\), then find the profit percent of the shopkeeper?
- \(17.6 \ \%\)
- \(18.7 \ \%\)
- \(15.5 \ \%\)
- \(12.25 \ \%\)

Answer: (a) \(17.6 \ \%\)

Solution: Let cost price = \(1 \ Rs/kg\)

cost price of \(850\) gram sugar = \(Rs.850\)

selling price of \(850\) gram sugar = \(Rs.1000\)

profit amount = \(1000 - 850\) = \(Rs.150\), then $$ Profit \ \% = \frac{Profit}{CP} \times 100 $$ $$ = \frac{150}{850} \times 100 $$ $$ = 17.6 \ \% $$

Solution: Let cost price = \(1 \ Rs/kg\)

cost price of \(850\) gram sugar = \(Rs.850\)

selling price of \(850\) gram sugar = \(Rs.1000\)

profit amount = \(1000 - 850\) = \(Rs.150\), then $$ Profit \ \% = \frac{Profit}{CP} \times 100 $$ $$ = \frac{150}{850} \times 100 $$ $$ = 17.6 \ \% $$

- A retailer purchased a laptop at \(Rs.20000\) and his overhead expenses are \(Rs.1000\). If he sold the laptop at \(Rs.19000\), then find the loss percent of the retailer?
- \(8.65 \ \%\)
- \(9.52 \ \%\)
- \(7.59 \ \%\)
- \(6.58 \ \%\)

Answer: (b) \(9.52 \ \%\)

Solution: cost price of the laptop = \(20000 + 1000\) = \(Rs.21000\)

selling price of the laptop = \(Rs.19000\)

Loss amount = \(21000 - 19000\) = \(Rs.2000\), then $$ Loss \ \% = \frac{Loss}{CP} \times 100 $$ $$ = \frac{2000}{21000} \times 100 $$ $$ Loss \ \% = 9.52 \ \% $$

Solution: cost price of the laptop = \(20000 + 1000\) = \(Rs.21000\)

selling price of the laptop = \(Rs.19000\)

Loss amount = \(21000 - 19000\) = \(Rs.2000\), then $$ Loss \ \% = \frac{Loss}{CP} \times 100 $$ $$ = \frac{2000}{21000} \times 100 $$ $$ Loss \ \% = 9.52 \ \% $$

- A man loses \(Rs.50\) on selling an articles for \(Rs.300\). What is the loss percent of the man?
- \(14.28 \ \%\)
- \(12.24 \ \%\)
- \(11.11 \ \%\)
- \(10.36 \ \%\)

Answer: (a) \(14.28 \ \%\)

Solution: selling price (SP) = \(Rs.300\)

Loss = \(Rs.50\), $$ Loss = CP - SP $$ $$ 50 = CP - 300 $$ $$ CP = Rs.350 $$, then $$ Loss \ \% = \frac{Loss}{CP} \times 100 $$ $$ = \frac{50}{350} \times 100 $$ $$ = 14.28 \ \% $$

Solution: selling price (SP) = \(Rs.300\)

Loss = \(Rs.50\), $$ Loss = CP - SP $$ $$ 50 = CP - 300 $$ $$ CP = Rs.350 $$, then $$ Loss \ \% = \frac{Loss}{CP} \times 100 $$ $$ = \frac{50}{350} \times 100 $$ $$ = 14.28 \ \% $$

- A man purchased a book at \(Rs.600\) and sold it at \(Rs.500\). Find the loss percent of the man?
- \(14.12 \ \%\)
- \(12.26 \ \%\)
- \(16.67 \ \%\)
- \(10.38 \ \%\)

Answer: (c) \(16.67 \ \%\)

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

selling price (SP) = \(Rs.500\)

Loss = \(600 - 500\) = \(Rs.100\), then $$ Loss \ \% = \frac{Loss}{CP} \times 100 $$ $$ = \frac{100}{600} \times 100 = 16.67 \ \% $$

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

selling price (SP) = \(Rs.500\)

Loss = \(600 - 500\) = \(Rs.100\), then $$ Loss \ \% = \frac{Loss}{CP} \times 100 $$ $$ = \frac{100}{600} \times 100 = 16.67 \ \% $$

- A boy purchased a tablet at \(Rs.12000\) and sold with the profit of \(Rs.2000\). Find the profit percent of the boy?
- \(16.67 \ \%\)
- \(15.75 \ \%\)
- \(18.25 \ \%\)
- \(12.38 \ \%\)

Answer: (a) \(16.67 \ \%\)

Solution: cost price (CP) = \(Rs.12000\)

profit = \(Rs.2000\), then $$ Profit \ \% = \frac{profit}{CP} \times 100 $$ $$ = \frac{2000}{12000} \times 100 = 16.67 \ \% $$

Solution: cost price (CP) = \(Rs.12000\)

profit = \(Rs.2000\), then $$ Profit \ \% = \frac{profit}{CP} \times 100 $$ $$ = \frac{2000}{12000} \times 100 = 16.67 \ \% $$

- If a retailer purchased mobiles at prices ranging from \(Rs.5000\) to \(10000\) and sold at prices ranging from \(Rs.6000\) to \(Rs.12000\). Find the greatest possible profit that might be made by selling \(5\) mobiles?
- \(Rs.30000\)
- \(Rs.32000\)
- \(Rs.34000\)
- \(Rs.35000\)

Answer: (d) \(Rs.35000\)

Solution: Least cost price of \(5\) mobiles = \(5000 \times 5\) = \(Rs.25000\)

greatest selling price of \(5\) mobiles = \(12000 \times 5\) = \(Rs.60000\), then $$ Greatest \ Profit = 60000 - 25000 $$ $$ = Rs.35000 $$

Solution: Least cost price of \(5\) mobiles = \(5000 \times 5\) = \(Rs.25000\)

greatest selling price of \(5\) mobiles = \(12000 \times 5\) = \(Rs.60000\), then $$ Greatest \ Profit = 60000 - 25000 $$ $$ = Rs.35000 $$

Lec 1: Introduction
Exercise-1
Lec 2: Profit and Loss Case-1
Exercise-2
Lec 3: Profit and Loss Case-2
Exercise-3
Lec 4: Profit and Loss Case-3
Exercise-4
Lec 5: Case of Discount
Exercise-5