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. If selling price of $$20$$ articles is equal to the cost price of $$25$$ articles. Find the profit percent of the seller?

1. $$22 \ \%$$
2. $$25 \ \%$$
3. $$26 \ \%$$
4. $$28 \ \%$$

Answer: (b) $$25 \ \%$$

Solution: Given, $$x = 25$$

$$y = 20$$, then $$Profit \ \% = \frac{x - y}{y} \times 100$$ $$= \frac{25 - 20}{20} \times 100$$ $$= 25 \ \%$$

1. If selling price of $$10$$ chairs is equal to cost price of $$8$$ chairs. Find the profit or loss percent of the seller?

1. $$15 \ \%$$
2. $$18 \ \%$$
3. $$22 \ \%$$
4. $$20 \ \%$$

Answer: (d) $$20 \ \%$$

Solution: Given, $$x = 8$$

$$y = 10$$, then $$Loss \ \% = \frac{x - y}{y} \times 100$$ $$= \frac{8 - 10}{10} \times 100$$ $$= -20 \ \%$$ (-ve) sign indicates the loss.

1. A man purchased $$20$$ articles at the price of $$15$$ articles. If he sold articles at their marked price. Find the profit percent of the man?

1. $$22.22 \ \%$$
2. $$30.35 \ \%$$
3. $$33.33 \ \%$$
4. $$35.25 \ \%$$

Answer: (c) $$33.33 \ \%$$

Solution: Let the cost price of each article = $$Rs.1$$

cost price of $$20$$ articles = $$Rs.15$$

selling price of $$20$$ articles = $$Rs.20$$, then $$Profit \ \% = \frac{profit}{CP} \times 100$$ $$= \frac{5}{15} \times 100$$ $$= 33.33 \ \%$$

1. A retailer bought $$25$$ watches at the price of $$30$$. If he sold watches at their marked price. Find the profit or loss percent of the retailer?

1. $$15.50 \ \%$$
2. $$16.67 \ \%$$
3. $$17.23 \ \%$$
4. $$18.58 \ \%$$

Answer: (b) $$16.67 \ \%$$

Solution: Let the cost price of each watch = $$Rs.1$$

cost price of $$25$$ watches = $$Rs.30$$

selling price of $$25$$ watches = $$Rs.25$$, then $$Loss \ \% = \frac{loss}{CP} \times 100$$ $$= \frac{5}{30} \times 100$$ $$= 16.67 \ \%$$

1. If the cost price of an article is $$20 \ \%$$ of the selling price, then find the percent that the selling price is of cost price?

1. $$300 \ \% \ of \ CP$$
2. $$200 \ \% \ of \ CP$$
3. $$500 \ \% \ of \ CP$$
4. $$400 \ \% \ of \ CP$$

Answer: (c) $$500 \ \% \ of \ CP$$

Solution: $$CP = \frac{20}{100} \times SP$$ $$SP = \frac{100}{20} \times CP$$ $$SP = (5 \times 100) \ \% \ of \ CP$$ $$SP = 500 \ \% \ of \ CP$$

1. If the selling price of a dozen banana is equal to cost price of $$11$$ bananas, then find the profit or loss percent?

1. $$8.33 \ \%$$
2. $$5.33 \ \%$$
3. $$6.36 \ \%$$
4. $$7.36 \ \%$$

Answer: (a) $$8.33 \ \%$$

Solution: Given, $$x = 11$$

$$y = 12$$, then $$Loss \ \% = \frac{x - y}{y} \times 100$$ $$= \frac{11 - 12}{12} \times 100$$ $$= -8.33 \ \%$$ (-ve) sign indicates the loss.

1. A man bought a book at $$Rs.500$$ and sold it at a profit of $$10 \ \%$$. If the book was sold for $$Rs.600$$, then what would have been the increase in the profit percent?

1. $$20 \ \%$$
2. $$15 \ \%$$
3. $$10 \ \%$$
4. $$25 \ \%$$

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

Solution: profit amount when book is sold at the profit of $$10 \ \%$$, $$= 500 \times \frac{10}{100} = Rs.50$$ profit amount when book is sold for $$Rs.600$$, $$= 600 - 500 = Rs.100$$ then increase in profit percent, $$= \frac{100 - 50}{500} \times 100$$ $$= 10 \ \%$$

1. A shopkeeper makes a profit of $$10 \ \%$$ by selling rice at $$50 \ Rs/kg$$. If he sells the rice at $$48 \ Rs/kg$$, then find the profit percent on whole investment?

1. $$6.35 \ \%$$
2. $$7.25 \ \%$$
3. $$8.52 \ \%$$
4. $$5.58 \ \%$$

Answer: (d) $$5.58 \ \%$$

Solution: Given, selling price (SP) = $$50 \ Rs/kg$$

profit percent = $$10 \ \%$$, then $$SP = \frac{100 + P \ \%}{100} \times CP$$ $$50 = \frac{110}{100} \times CP$$ $$CP = \frac{5000}{110} = Rs \ 45.45$$ profit amount if he sells the rice at $$48 \ Rs/kg$$, $$= 48 - 45.45 = Rs \ 2.54$$ then, $$Profit \ \% = \frac{2.54}{45.45} \times 100$$ $$= 5.58 \ \%$$

1. When an article is sold at $$Rs.220$$, there is a loss of $$20 \ \%$$. Find the cost price of the article?

1. $$Rs.250$$
2. $$Rs.275$$
3. $$Rs.270$$
4. $$Rs.260$$

Answer: (b) $$Rs.275$$

Solution: Given, selling price (SP) = $$Rs.220$$

Loss percent = $$20 \ \%$$, then $$SP = \frac{100 - L \ \%}{100} \times CP$$ $$220 = \frac{100 - 20}{100} \times CP$$ $$CP = \frac{220 \times 100}{80}$$ $$CP = Rs.275$$

1. A retailer purchased a chair at $$Rs.5000$$ and he spends $$10 \ \%$$ on the transportation. What should be the selling price of the chair to earn a profit of $$20 \ \%$$?

1. $$Rs.6500$$
2. $$Rs.6400$$
3. $$Rs.6600$$
4. $$Rs.6800$$

Answer: (c) $$Rs.6600$$

Solution: cost of chair after transportation, $$= 5000 + 5000 \times \frac{10}{100}$$ $$= Rs.5500$$ selling price of chair to earn a profit of $$20 \ \%$$, $$= 5500 + 5500 \times \frac{20}{100}$$ $$= Rs.6600$$