Quantitative Aptitude: Profit and Loss Set 3

Profit Loss Questions tricks for all banking, insurance, SSC and other exams.

1. A trader bought two horses for Rs 39,000. He sold one at a loss of 20% and another at a profit of 15%. If the selling price of each horse is same, then what are their cost price respectively?
   A) Rs 20,000 and Rs 19,000
   B) Rs 23,000 and Rs 16,000
   C) Rs 24,000 and Rs 15,000
   D) Rs 21,000 and Rs 18,000
   E) None of these
   
   View Answer

   Option B
   Solution:
   .        Horse 1              Horse 2
   CP   5*23=115           20*4=80
   SP   4*23=92              23*4=92 [to make SP same]
   CP= 115+80=195 = 39,000
   =>1=200
   115=23000
   80=16000
   
2. The marked price of an article is 60% above the cost price. When marked price is increased by 30% and selling price is increased by 20%, then the profit doubles. What is the original selling price if marked price is Rs 3200?
   A) Rs 2500
   B) Rs 3000
   C) Rs 2000
   D) Rs 4160
   E) Rs 5000
   
   View Answer

   Option A
   Solution:
   CP = 10, so MP = 16
   MP = 3200, so CP = 2000
   Now See from options
   Pick A) 2500
   2500 – 2000 = 500 (profit)
   If 20% of 2500 is increased, then We will get Rs 500 more, means the profit will get doubled as before
   So A) is answer
3. An article passes successfully in the hand of three traders. Each trader sold it further at a gain of 20% of the cost price. If the last trader sold it for Rs 432 then what was the cost price?
   A) Rs 125
   B) Rs 256
   C) Rs 250
   D) Rs 432
   E) Rs 500
   
   View Answer

   Option C
   Solution:
   20% =1/5
   CP          SP
   5             6
   5             6
   5             6
   =125        216
   *2=250    *2=432
   Ans=250
4. A dishonest dealer professes to sell his goods at 10% profit on Cost Price and also uses a false weight and gives 900 grams instead of 1 kg. Find his total gain.
   A) 11.11%
   B) 22.22%
   C) 21.11%
   D) 21.1%
   E) 23.33%
   
   View Answer

   Option B
   Solution:
   900 gms in place of 1000 gm
   So profit% is (1000-900)/900 * 100 = 100/9 %
   10% Profit is on CP also
   So required profit% is
   10 + 100/9 + 10*(100/9)/100 – successive formula
5. A man buys some toffees at 3 in Re. 1 and some at 3 in Rs 2 and sold them at 1 in Re. 1. Find his gain or loss %.
   A) 200% loss
   B) 200% profit
   C) 100% loss
   D) 100% profit
   E) 150 % profit
   
   View Answer

   Option D
   Solution:
   .            Quantity      Rupee
   CP                3              1
   CP                3              2
   SP=              1               1 (*3 to make quantity equal)
   hence Sp      3               3
   Total Cp of 6 toffee= 3
   Sp og 6 toffee=6
   hence %p=100%
   
6. A trader wants to increase his cost price in such a way that after giving 25% discount he earns 20%profit. Find how much percent he increases his Cost Price?
   A) 60%
   B) 45%
   C) 50%
   D) 40%
   E) None of these
   
   View Answer

   Option A
   Solution:
   discount=25% =1/4
   MP: SP=4:3
   Profit=20%=1/5
   CP:SP= 5:6
   make ratio equal
   MP:CP:SP=8:5:6
   =3/5*100=60%
7. On selling 15 balls at Rs 400 there is loss equal to Cost Price of 5 balls. The cost price of a ball is?
   A) 20
   B) 30
   C) 40
   D) 50
   E) 60
   
   View Answer

   Option C
   Solution:
   loss= CP-SP
   CP of 5=CP of 15- SP of 15
   CP of 10=SP of 15=400
   CP of 1 =40
8. By selling 12 oranges for Rs 60 a man losses 25%. The number of oranges he has to sell for Rs 100 so as to gain 25% is?
   A) 15
   B) 12
   C) 20
   D) 16
   E) 13
   
   View Answer

   Option B
   Solution:
   Loss=25%=1/4 => CP:SP=4:3 ;SP=60 hence CP=80
   Profit=25%=1/4 => CP:SP=4:5 ; CP=80 hence SP=100
   for gaining 25% in Rs 100 item he has to sell an item of Rs 80; In Rs 80 12 oranges.
9. A person sold an article at 16 (2/3)% profit on Selling Price. Afterwards when the cost price reduced by 10% then he also reduced the selling price by 10%. His percentage of profit on cost price will be?
   A) 20%
   B) 21%
   C) 19%
   D) 25%
   E) 26 %
   
   View Answer

   Option A
   Solution:
   Profit on SP= 1/6
   SP:CP=6:5 multiply by 10 for easy calculation= 60:50
   60-6 : 50-5=54:45
   =(54-45)/45*100=20%
10. A shopkeeper allows 2% discount and gives 1 article free on purchase of 6 articles. He earns 40% profit during the transaction. By what percent above the cost price he marked his good.
    A) 50%
    B) 60%
    C) 42 (6/7)%
    D) 66 (2/3)%
    E) None of these
    
    View Answer

    Option D
    Solution:
    Discount=2%=1/50 MP:SP=50:49
    Profit=40%=2/5=> CP:SP=5:7
    MP:SP:CP=50:49:35
    This 35 is the CP of (6+1) hence the CP for 6 will be 30
    (50-30)/30*100= 66 (2/3)%