Profit and Loss Questions and Answers updated daily – Aptitude



20 Profit and Loss Questions and answers section with explanation for various online exam preparation, various interviews, Aptitude Profit and Loss online test. Profit and Loss Questions with detailed description, explanation will help you to master the topic.

Profit and Loss Questions

1. A producer of tea blends two varieties of tea from two tea gardens one costing Rs 18 per kg and another Rs 20 per kg in the ratio 5 : 3. If he sells the blended variety at Rs 21 per kg, then his gain percent is



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Correct Ans:12%
Explanation:
Suppose he bought 5 kg and 3 kg of tea.
Cost Price = Rs. (5 x 18 + 3 x 20) = Rs. 150.
Selling price = Rs. (8 x 21) = Rs. 168.
Profit = 168 - 150 = 18

So, Profit % = (18/150) * 100 = 12%


2. If the manufacturer gains 10 %, the wholesale dealer 15 % and the retailer 25 %, then find the cost of production of a table if the retail price was Rs 1265



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Correct Ans:Rs. 800
Explanation:


3. A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%



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Correct Ans:Rs 11.81
Explanation:


4. A man bought an article and sold it at a gain of 5 %. If he had bought it at 5% less and sold it for Re 1 less, he would have made a profit of 10%. The C.P. of the article was



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Correct Ans:200
Explanation:
Let original Cost price is x
Its Selling price = 105/100 * x = 21x/20
New Cost price = 95/100 * x = 19x/20
New Selling price = 110/100 * 19x/20 = 209x/200
[(21x/20) - (209x/200)] = 1

=> x = 200


5. If the cost price of 12 items is equal to the selling price of 16 items, the loss percent is



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Correct Ans:25%
Explanation:
Let the Cost Price of 1 item = Re. 1
Cost Price of 16 items = 16
Selling Price of 16 items = 12

Loss = 16 - 12 = Rs 4

Loss % = (4/16)* 100 = 25%


6. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit



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Correct Ans:70%
Explanation:
Let C.P.= Rs. 100.
Then, Profit = Rs. 320,
S.P. = Rs. 420.

New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420.

Profit = Rs. (420 - 125) = Rs. 295

Required percentage = (295/420) * 100
= 70%(approx)


7. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25% then determine the value of x.



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Correct Ans:16
Explanation:


8.  If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is ?



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Correct Ans:50%
Explanation:


9. A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be.



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Correct Ans:140%
Explanation:
Let the C.P. = x,
Then S.P. = (120/100)x = 6x/5
New S.P. = 2(6x/5) = 12x/5

Profit = 12x/5 - x = 7x/5

Profit% = (Profit/C.P.) * 100
=> (7x/5) * (1/x) * 100 = 140 %



10. A plot is sold for Rs. 18,700 with a loss of 15%. At what price it should be sold to get profit of 15%.



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Correct Ans:Rs 25300
Explanation:
This type of question can be easily and quickly solved as following:

Let at Rs x it can earn 15% pr0fit
85:18700 = 115:x [as, loss = 100 -15, Profit = 100 +15]

x = (18700*115)/85
= Rs.25300


11. A shopkeeper expects a gain of 45/2 % on his C.P. If his sale was Rs. 392, then find his profit.



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Correct Ans:72
Explanation:


12. Sahil purchased a machine at Rs 10000, then got it repaired at Rs 5000, then gave its transportation charges Rs 1000. Then he sold it with 50% of profit. At what price he actually sold it.



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Correct Ans:Rs. 24000
Explanation:
Question seems a bit tricky, but it is very simple.
Just calculate all Cost price, then get 150% of CP.

C.P. = 10000 + 5000 + 1000 = 16000

150% of 16000 = 150/100 * 16000 = 24000


13. A man buys an item at Rs. 1200 and sells it at the loss of 20 percent. Then what is the selling price of that item



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Correct Ans:960
Explanation:
Here always remember, when ever x% loss,
it means S.P. = (100 - x)% of C.P
when ever x% profit,
it means S.P. = (100 + x)% of C.P

So here will be (100 - x)% of C.P.
= 80% of 1200
= 80/100 * 1200
= 960


14. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find out the value of x



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Correct Ans:16
Explanation:


15. If the cost price is 25% of selling price. Then what is the profit percent.



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Correct Ans:300%
Explanation:
Let the S.P = 100
then C.P. = 25

Profit = 75

Profit% = 75/25 * 100 = 3005


16. A book was sold for Rs 27.50 with a profit of 10%. If it were sold for Rs. 25.75, then would have been percentage of profit and loss ?



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Correct Ans:3% Profit
Explanation:


17. A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit.



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Correct Ans:Rs.1260
Explanation:
Let the new S.P. be x, then.
(100 - loss%):(1st S.P.) = (100 + gain%):(2nd S.P.)

=>(9511/40=105/x)=>x=1260


18. In terms of percentage profit, which among following the best transaction.



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Correct Ans:C.P. 60, Profit 29
Explanation:
Calculate profit percent as

Profit% = (profit/cost) * 100


19.  A TV is purchased at Rs. 5000 and sold at Rs. 4000, find the lost percent.



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Correct Ans:20%
Explanation:
We know, C.P. = 5000
S.P. = 4000
Loss = 5000 - 4000 = 1000
Loss%=(Loss/Cost∗100)%=(1000/5000∗100)%=20%


20. A man buys an article for Rs. 27.50 and sells it for Rs 28.60. Find his gain percent



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Correct Ans:4%
Explanation:



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