Quantitative Aptitude: Profit and Loss Set 4

Profit Loss Questions Tricks Explanation for SBI PO, IBPS PO, NIACL, NICL, RBI Garde B, Dena Bank PO PGDBF, BOI, Bank of Baroda and other competitive exams.

1. An article is sold at 33(1/3)% profit. If it had been sold at a profit of 40%,it would have fetched Rs50 more. Find cost price of article?
   A) 700
   B) 750
   C) 600
   D) 650
   E) 720
   
   View Answer

   Option B
   Solution:
   1st 33(1/3)% profit so CP = 3, and SP = 3+1 = 4
   2nd 40% = 2/5. So CP = 5, SP = 7
   Now CP is same so make CP same
   CP…….. SP
   15………..20
   15………….21
   20 to 21 is + 1, so 1= 50 [increase in SP]
   So 15=750
2. The percentage of loss when an article is sold at Rs60 is same as that of profit, when it is sold at Rs80.
   The above mention profit or loss on the article is?
   A) 14(2/7) %
   B) 16(2/3)%
   C) 20%
   D) 25%
   E) 30%
   
   View Answer

   Option A
   Solution:
   CP = 60+ 80/2= 70
   Profit = 80-70=10
   Profit % = 10/70 * 100= 14(2/7)%
3. A businessman sells a commodity at 10% profit. If he had bought it 10% less and sold it for rs2 less, then he would have gained 16(2/3)%. What is the cost price of the commodity?
   A) 32
   B) 48
   C) 36
   D) 40
   E) 30
   
   View Answer

   Option B
   Solution:
   10% profit = 1/10. So CP = 10, SP = 10+1 = 11
   Now make CP 10% less, CP becomes = 9, Now there is 16(2/3)% profit So SP becomes 21/2
   Original SP = 11, final = 21/2. Difference is ½
   So 1/2 == 2 [Rs 2 less]
   1 == 4
   and 10 == 40
4. A dishonest shopkeeper sells milk at 20% gain and also he add water in the ratio 4:1 in it. What is his total profit?
   A) 50%
   B) 45%
   C) 40%
   D) 44%
   E) 52%
   
   View Answer

   Option A
   Solution:
   In the case of milk & water. The milk amount is consider as 100. Now during the comparison of water with milk, the water amount is taken as profit %.
   See here : M W
   .               4 : 1
   .           100 : 25% profit on selling milk on CP but he sold it 20% gain
   So: 25+20+ (25*20)/100= 50% total
5. The price of coal is increased by 20%. By what percent a family should decrease its consumption so that expenditure remains same?
   A) 25%
   B) 14(2/7)%
   C) 16(2/3)%
   D) 20%
   E) 13(1/3)%
   
   View Answer

   Option C
   Solution:
   increased 20% = 1/5
   Since there is increase, so decrease in consumption will be 1/(5+1) = 1/6 = 16 2/3%
   In there was decrease, so increase in consumption would have been 1/(5-1) = 1/4 = 25%
6. After selling 12 balls a man suffer a loss equal to cost price of 6 balls. Find loss percent?
   A) 100%
   B) 50%
   C) 33(1/3)%
   D) 40%
   E) 30%
   
   View Answer

   Option B
   Solution:
   loss = CP-SP
   CP of 6 ball = CP of 12 ball – SP of 12 ball
   SP of 12 ball = CP of 6 ball
   Loss % = 6/12*100= 50%
   
7. 7. A man bought a horse & a carriage for Rs60,000. He sold the horse at 15% profit and the carriage at a loss of 6%. But still he gained of 1% on overall. The cost price of the horse was?
   A) 18000
   B) 22000
   C) 25000
   D) 20000
   E) 15000
   
   View Answer

   Option D
   Solution:
   Horse carriage
   15% ………..-6
   .         +1
   7……………… 14
   1 : 2
   1/3*60000= 20000
   
8. A customer saves Rs400 at the rebate of 20% on market price of an article. If the cost price of the article for shopkeeper is Rs1200.Then find the profit percent of shopkeeper?
   A) 33(1/3)%
   B) 25%
   C) 20%
   D) 16(2/3)%
   E) 30%
   
   View Answer

   Option A
   Solution:
   20% of M.P = 400
   M.P = 2000
   S.P = 1600
   C.P= 1200
   Profit % = 400/1200* 100= 33(1/3)%
9. A trader wants to earn 16(2/3)% after allowing a discount of 25%. Find by how much % he has to increase his cost price to make M.P?
   A) 50%
   B) 55.55%
   C) 40%
   D) 55%
   E) 46.55%
   
   View Answer

   Option B
   Solution:
   profit % = 16(2/3)% = 1/6. So CP = 6, and SP = 6+1 = 7
   Discount = 25% = 1/4 So MP = 4, SP = 4-1 = 3
   Make S.P Same in both cases
   C.P…. S.P…….. M.P
   18……. 21……… 28
   Difference between CP and MP is 10
   So 10/18*100 = 55.55%
10. Nikita bought 30kg of wheat at the rate of 9.50/kg of wheat and the same amount of wheat at the rate of Rs8.50 per kg and mixed them. She sold the mixture at the rate of Rs 8.90/kg. Find her total profit or loss in the whole transaction?
    A) Rs2 profit
    B) Rs6 loss
    C) Rs2 loss
    D) Rs6 profit
    E) Rs4 loss
    
    View Answer

    Option B
    Solution:
    C.P = 30*9.50 + 30*8.5 = 540
    S.P = 60 * 8.90 = 534
    So loss of Rs 6.