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. |

- If selling price of \(20\) articles is equal to the cost price of \(25\) articles. Find the profit percent of the seller?
- \(22 \ \%\)
- \(25 \ \%\)
- \(26 \ \%\)
- \(28 \ \%\)

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

Solution: Given, \(x = 25\)

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

Solution: Given, \(x = 25\)

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

- If selling price of \(10\) chairs is equal to cost price of \(8\) chairs. Find the profit or loss percent of the seller?
- \(15 \ \%\)
- \(18 \ \%\)
- \(22 \ \%\)
- \(20 \ \%\)

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.

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.

- 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?
- \(22.22 \ \%\)
- \(30.35 \ \%\)
- \(33.33 \ \%\)
- \(35.25 \ \%\)

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 $$ Profit \ \% = \frac{profit}{CP} \times 100 $$ $$ = \frac{5}{15} \times 100 $$ $$ = 33.33 \ \% $$

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 $$ Profit \ \% = \frac{profit}{CP} \times 100 $$ $$ = \frac{5}{15} \times 100 $$ $$ = 33.33 \ \% $$

- 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?
- \(15.50 \ \%\)
- \(16.67 \ \%\)
- \(17.23 \ \%\)
- \(18.58 \ \%\)

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 $$ Loss \ \% = \frac{loss}{CP} \times 100 $$ $$ = \frac{5}{30} \times 100 $$ $$ = 16.67 \ \% $$

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 $$ Loss \ \% = \frac{loss}{CP} \times 100 $$ $$ = \frac{5}{30} \times 100 $$ $$ = 16.67 \ \% $$

- 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?
- \(300 \ \% \ of \ CP\)
- \(200 \ \% \ of \ CP\)
- \(500 \ \% \ of \ CP\)
- \(400 \ \% \ of \ CP\)

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

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

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

- If the selling price of a dozen banana is equal to cost price of \(11\) bananas, then find the profit or loss percent?
- \(8.33 \ \%\)
- \(5.33 \ \%\)
- \(6.36 \ \%\)
- \(7.36 \ \%\)

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.

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.

- 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?
- \(20 \ \%\)
- \(15 \ \%\)
- \(10 \ \%\)
- \(25 \ \%\)

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, $$ = \frac{100 - 50}{500} \times 100 $$ $$ = 10 \ \% $$

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, $$ = \frac{100 - 50}{500} \times 100 $$ $$ = 10 \ \% $$

- 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?
- \(6.35 \ \%\)
- \(7.25 \ \%\)
- \(8.52 \ \%\)
- \(5.58 \ \%\)

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, $$ Profit \ \% = \frac{2.54}{45.45} \times 100 $$ $$ = 5.58 \ \% $$

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, $$ Profit \ \% = \frac{2.54}{45.45} \times 100 $$ $$ = 5.58 \ \% $$

- When an article is sold at \(Rs.220\), there is a loss of \(20 \ \%\). Find the cost price of the article?
- \(Rs.250\)
- \(Rs.275\)
- \(Rs.270\)
- \(Rs.260\)

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

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

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

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

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

- 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 \(20 \ \%\)?
- \(Rs.6500\)
- \(Rs.6400\)
- \(Rs.6600\)
- \(Rs.6800\)

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 \(20 \ \%\), $$ = 5500 + 5500 \times \frac{20}{100} $$ $$ = Rs.6600 $$

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

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