Profit and Loss Questions and Answers updated daily – Aptitude

Profit and Loss Questions: Solved 248 Profit and Loss Questions and answers section with explanation for various online exam preparation, various interviews, Aptitude Category online test. Category Questions section with detailed description, explanation will help you to master the topic.

Profit and Loss Questions

1. Some mangoes are purchased at the rate of 8 mangoes/Rs and some more mangoes at the rate of 6 mangoes/Rs, investment being equal in both the cases. Now, the whole quantity is sold at the rate of 3.5 mangoes/Rs What is the net percentage profit/loss?     




SHOW ANSWER
Correct Ans:100% profit
Explanation:
Explanation:

---> Let 1 Rs. invested in both the cases --->

---> in 2 Rs. no. of mangoes Purchased = 8 + 6 = 14

---> SP of 14 mangoes = 14 * 1/3.5 = 4 Rs.
---> = 100% profit.
Workspace



2. A man would gain 25% by selling a chair for Rs. 47.5 and would gain 15% by selling a table for Rs. 57.5. He sells the chair for Rs. 45; what is the least price for which he must sell the table to avoid any loss on the two together?




SHOW ANSWER
Correct Ans:Rs. 43
Explanation:
Explanation:

Cost Price of chair = 100/125 * 47.5
= 38 Rs.
Cost Price of table = 100/115 * 57.5
= 50 Rs.
Required SP of table = (50 + 38) - 45 = 43 Rs.
Workspace



3. By selling a pen at a profit of 60% a man got Rs 38 more than one third of its cost price. What is the cost price of pen?




SHOW ANSWER
Correct Ans:30
Explanation:
---> We know that
---> 60% = 3/5

---> Therefore, according to the question

---> (8/5 - 1/3)CP = 38

---> cost price = 38/19 * 15 = 30
Workspace



4. Vipin started a business with an investment of Rs. 42,000. After 5 months Amit joined him with a capital of Rs. 22,000. At the end of the year the total profit was Rs.16,409. What is Vipin"™s share in the profit?




SHOW ANSWER
Correct Ans:Rs. 12568
Explanation:
----> Ratio of the equivalent capitals of Vipin and Amit for 1 year = 42000 * 12 : 22000 * 7

----> = 42 * 12 : 22 * 7 = 252 : 77

----> Total profit = Rs. 16409

----> Vipin share = Rs.(252 /252 + 77) * 16409 = Rs.12568
----> Hence, option (B) is correct.
Workspace



5. Rahim marks up all Jeans in his shop 20% higher. He gave 25% discount on 2/5th of the total Jeans and 12% discount on 1/4th of the total Jeans. If Rahim gets an overall profit of 2.3%, then what percentage of discount should be given by Rahim to customers on the remaining Jeans.




SHOW ANSWER
Correct Ans:5%
Explanation:
----> Let Rahim has 100 Jeans and C.P of each Jeans is Rs. 100.

----> Then, Marked price of each Jeans = 100 * (120/100) = Rs. 120

----> And, Selling price of 100 Jeans = 100 * 100 * (102.3/100) = Rs. 10230

----> Selling price of 40 Jeans (i.e., 2/5 of 100) = 40 * 120 * (75/100) = 3600

----> Selling price of 25 Jeans (i.e., 1/4 of 100) = 25 * 120 * (88 /100) = 2640

----> Let Rahim gave a% discount on remaining (i.e., 100 – 40 – 25 = 35) Jeans.

----> Selling price of remaining 35 Jeans
----> = 35 * 120 * (100 – a/100) = 4200 * (100 – a/100)

----> According to the question,
----> 10230 = 3600 + 2640 + 4200 * (100 – a/100)

----> 4200 * (100 – a/100) = 10230 – 6240 = 3990

----> (100 – a/100) = (3990 /4200) = 0.95

----> 100 – a = 95

----> a = 100 – 95

----> a = 5%

Hence, option (A) is correct.
Workspace



6. An article is sold at a loss of 10%. Had it been sold for Rs. 9 more, there would have been a gain of 12 (1/2)% on it. The cost price of the article is




SHOW ANSWER
Correct Ans:40
Explanation:
SP - Selling Price
CP - Cost Price

Let the cost price of the article = Rs. x
S.P. at 10% loss = x*(90/100) = Rs. 0.9x
S.P. at 12 (1/2) % gain

x * (100+12 (1/2))/100 = Rs. (225x/200)
According to the question, 0.9x + 9 = (225x/200)
180x + 1800 = 225x
x = Rs. 40
Workspace



7. A shopkeeper sold some articles at Rs.35 per article and earned a profit of 40%. At what price each article should have been sold so that 60% profit was earned?




SHOW ANSWER
Correct Ans:40
Explanation:
SP - Selling Price
CP - Cost Price

SP = 140% of CP
CP = 35 * (100/140) = 25
Then, 60% of CP = 2.5 * 6 = 15

To set a profit of 60% the SP = 25 + 15 = 40.
Workspace



8. A, B and C invested in the ratio 5:6:8 respectively. If C invested for "œx" month and A and B invested for one year. At the end of the year C"™s profit is Rs. 3200 and difference between the profit of A and B is Rs. 600 then what is the value of "œx"?




SHOW ANSWER
Correct Ans:8 months
Explanation:
---> Let A, B & C invested in the ratio of 5a,6a & 8a respectively and the total profit be P.
---> Their investment period is 12, 12 & x months respectively.
---> Hence, the total investment is (5a*12)+(6a*12)+(8a*x)
---> The difference in the profits of A & B is Rs 600.
---> [(6a*12) - (5a*12) / (6a*12) + (5a*12) + (8a*x)]P = 600
---> [12 a/132 a + 8a*x] P = 600
---> Profit earned by C is Rs 3200.
---> [(8a*x) / (6a*12) + (5a*12) + (8a*x) ] P = 3200
---> [(8a*x)/ 132 a + 8a*x] P = 3200
---> By dividing the two equations obtained, we will get:
---> (8x/12) = (3200/600)
---> x = 8 months
Workspace



9. If the ratio between the cost price and marked price of an article is 2:3. If the selling price of that article is Rs 1920 and the shopkeeper gave two successive discounts of 20% on the marked price. Find the loss during this transaction?




SHOW ANSWER
Correct Ans:80 Rs
Explanation:
----> The ratio between the cost price and marked price of an article is = 2:3
----> Let the cost price = 2x & marked price = 3x
----> Two consecutive discounts of 20% are given.
----> So, one cummulative discount for two discounts of 20%
----> 20 % + 20 % - (20 * 20/100) % = 36 %
----> Selling price = 1920 Rs
----> Hence,
----> 3x*(64/100) = 1920
----> x = 1000
----> So, Cost price = 2000 Rs & marked price = 3000 Rs
----> Loss = (Selling price - Cost price) = 1920 - 2000 = 80 Rs
Workspace



10. 40 % of goods are sold at 10 % loss while the remaining is sold at 20 % profit. If there is total profit of Rs. 640, then the worth of goods sold is?




SHOW ANSWER
Correct Ans:Rs. 8000
Explanation:


Given,
(120 - x)/(x - 90) = (2/3)
360 - 3x = 2x - 180
540 = 5x
x = 540/5 = 108
Overall profit % = 8 %
(8/100) * Cost price = 640
Cost price = (640 * 100)/8 = Rs. 8000
Workspace



11. The marked price of a doll is 45% above its manufacturing cost. The doll is sold through a retailer, who earns 10% profit on his purchase price. The retailer gives 20% discount on marked price. What is the approximate profit percentage for the doll manufacturer who sells his doll to the retailer?




SHOW ANSWER
Correct Ans:5%
Explanation:
Let the manufacturing cost = 100
Marked price of the doll = 145% of 100 = 145
The retailer gives 20% discount on marked price,
Buyer Price = 80% of 145 = 116
Manufacturer makes x rupees profit, and then retailer makes 10% profit.
Hence, 110% of (100 + x) = 116
110 (100 + x) = 11600
11000 + 110x = 11600
110x = 600
x = 60/11 = 5.45%.
Hence, Manufacturer profit = 5.45%
= 5% (approx)
Workspace



12. A man sold an item for Rs. 2000 and incurred a loss. Had he sold the item for Rs. 3600, his gain would have been equal to three times of the amount of loss that he incurred. At what price should he sell the article to gain 20 %?




SHOW ANSWER
Correct Ans:Rs. 2880
Explanation:
Loss = C.P - 2000
Profit = 3600 - C.P
Profit = 3*Loss
3600 - C.P = 3 * [C.P - 2000]
3600 - C.P = 3C.P - 6000
9600 = 4C.P
C.P = 9600/4 = Rs. 2400
SP = 2400 * (120/100) = Rs. 2880
Workspace



13. A man buys a new mobile for Rs. 11000. After using it for an year he sell it at a loss of 15%. Then again he buys a new mobile at a price 15% higher than the previous one. He uses the new mobile for one year and sell it at a loss of 20% then find his average loss per year during this period?




SHOW ANSWER
Correct Ans:2090
Explanation:
Loss in first year = 15% 0f 11000
= 1650
Cost of mobile in second year 115% of 11000
= 11000 + 1650
= 12650
Loss in second year = 20% of 12650
= 2530
Total loss = 1650 +2530
= 4180
Average loss = 4180/2 = 2090
Workspace



14. I bought 3 apple and 5 banana at Rs. 67. After eating 1 apple, I sold the remaining fruits to Raja at Rs. 67. Raja, after eating 1 apple and 1 banana, sold the remaining fruits to Sam at Rs. 67. If Raja had an effective profit of 35% in this manner, how much percentage profit did I earn?




SHOW ANSWER
Correct Ans:20%
Explanation:
Number of apple = a
Number of banana = b
Raja’s profit = (1a and 1b) on (2a and 5b) = 35%
a + b = 35/100 * (2a + 5b)
20a + 20b = 14a + 35b
solving we get = 6a = 15b
a/b = 5/2

So, my effective profit = 1a on (3a and 5b)
= 1a / 3a + 5(2/5) a
= 1a / 5a * 100 = 20%
Hence, my effective profit for the whole transaction is = 20%.
Workspace



15. The selling price of Watch is Rs.920. The ratio of the marked price to cost price of the watch is 23: 20 and the ratio of the marked price to cost price of the Pen is 11: 10. If the ratio of the cost price of the watch to Pen is 2: 1 and the discount offers for watch is 20%, then what is the marked price of Pen? 




SHOW ANSWER
Correct Ans:Rs. 550
Explanation:
CP of Watch = 2x
CP of Pen = x
SP of Watch = 920
Marked price of Watch = 920/80 * 100 = 1150
CP of Watch = 1150/23 * 20 = Rs.1000
CP of Pen = 1000/2 = 500
Marked price of Pen = 500/10 * 11
= Rs. 550
Workspace



16. A person purchased a cupboard and a cot for Rs. 19,200. He sold the cupboard at a profit of 23% and the cot at a profit of 39%. If his total profit was 27.833%; find the cost price of the cupboard?




SHOW ANSWER
Correct Ans:Rs. 13400
Explanation:
Let the CP of cupboard and cot be x and y respectively
Given, x + y = 19200 ---- (i)
Profit on selling the cupboard = 23%
SP of cupboard = 1.23x
Profit on selling the cot = 39%.
SP of cot = 1.39y
Total SP = 1.23x + 1.39y
Profit = SP - CP
Profit = 1.23x + 1.39y - 19200
But, given his total profit was 27.833%
27.833% of 19200 = 5343.94
Profit = 1.23x + 1.39y - 19200 = 5344
1.23x + 1.39y = 24544 -------- (ii)
Multiply 1.23 in equ (i) we get
1.23x + 1.23y = 23616 ------ (iii)
On solving we get, x = 13400 and y = 5800
Therefore, the cost price of the cupboard = 13400
Workspace



17. A sells to B goods at five-thirds the rate of profit at which B has decided to sell it to C. C, on other hand, sells it to D at one-third the rate of profit at which B sold it to C. If D gives Rs. 2145 to C at 10% profit, how much did A buy it for ?




SHOW ANSWER
Correct Ans:Rs. 1000
Explanation:
C's profit % = 10%
B's profit % = 10*3 = 30%
A's profit % = 30 * 5/3 = 50%
CP of C = 2145/110 * 100 = Rs. 1950
CP of B = 1950/130 * 100 = Rs. 1500
CP of A = 1500/150 * 100 = Rs. 1000
Required Answer,
CP of A = Rs. 1000
Workspace



18. A man sells calculator at the rate of ₹ 250 each. The cost price of each calculator is 86% of the selling price of that calculator. What amount of profit will be earned in 19 days if he sells seven calculators per day?




SHOW ANSWER
Correct Ans:4655
Explanation:
Selling price of one calculator = ₹ 250
Cost price of one calculator = 250 * 86/100 = ₹ 215
Profit = 250 - 215 = ₹ 35
He earns ₹ 35 profit on one calculator.
Hence, total profit earned in 19 days if he sold 7 calculators each day
= 19*7*35 = ₹ 4655
Workspace



19. A person sold an electronic watch at Rs. 96 in such a way that his percentage profit is same as the cost price of the watch. If he sells it at twice the percentage profit of its previous percentage profit then the new selling price will be




SHOW ANSWER
Correct Ans:Rs. 132
Explanation:
Let the CP of watch be Rs. X.
Given that CP is same as profit %.
Profit % = X%
SP of watch = Rs. 96
WKT, SP = [(100 + Gain)/100]*CP
[(100 + X)/100]*X = 96
X2 + 100X - 9600 = 0
X2 + 160X - 60X - 9600 = 0
X(X + 160) - 60(X + 160) = 0
(X - 60) (X + 160) = 0
X = 60
So, CP of watch = Rs. 60
New profit% = 120%
New SP = 60*[(100 + 120)/100]
= 60*(220/100)
= Rs. 132.
Workspace



20. If the profit on selling an article for Rs. 579 is the same as the loss on selling it for Rs. 337, then find the profit percent if its selling price is Rs. 687.




SHOW ANSWER
Correct Ans:50%
Explanation:
Let the profit or loss of the article be 'x'.
SP of article = Rs. 579
As per the question,
579 - x = 337 + x
2x = 242
x = 121
WKT, CP = SP - Profit
CP = 579 - 121 = Rs. 458

If the selling price is Rs. 687,
New profit = New SP - CP
= 687 - 458
= Rs. 229
Required profit % = (Profit/CP)*100
= (229/458)*100
= 50%.
Workspace



Are you seeking for good platform for practicing Profit and Loss questions in online. This is the right place. The time you spent in Fresherslive will be the most beneficial one for you.

Online Test on Profit and Loss @ Fresherslive

This page provides important questions on Profit and Loss along with correct answers and clear explanation, which will be very useful for various Interviews, Competitive examinations and Entrance tests. Here, Most of the Profit and Loss questions are framed with Latest concepts, so that you may get updated through these Profit and Loss Online tests. Profit and Loss Online Test questions are granted from basic level to complex level.

Why To Practice Profit and Loss Test questions Online @ Fresherslive?

Profit and Loss questions are delivered with accurate answer. For solving each and every question, very lucid explanations are provided with diagrams wherever necessary.
Practice in advance of similar questions on Profit and Loss may improve your performance in the real Exams and Interview.
Time Management for answering the Profit and Loss questions quickly is foremost important for success in Competitive Exams and Placement Interviews.
Through Fresherslive Profit and Loss questions and answers, you can acquire all the essential idea to solve any difficult questions on Profit and Loss in short time and also in short cut method.
Winners are those who can use the simplest method for solving a question. So that they have enough time for solving all the questions in examination, correctly without any tense. Fresherslive provides most simplest methods to answer any tough questions. Practise through Fresherslive test series to ensure success in all competitive exams, entrance exams and placement tests.

Why Fresherslive For Profit and Loss Online Test Preparation?

Most of the job seekers finding it hard to clear Profit and Loss test or get stuck on any particular question, our Profit and Loss test sections will help you to success in Exams as well as Interviews. To acquire clear understanding of Profit and Loss, exercise these advanced Profit and Loss questions with answers.
You're Welcome to use the Fresherslive Online Test at any time you want. Start your beginning, of anything you want by using our sample Profit and Loss Online Test and create yourself a successful one. Fresherslive provides you a new opportunity to improve yourself. Take it and make use of it to the fullest. GOODLUCK for Your Bright Future.


Online Test for Data Interpretation
Online Test for C Language
FreshersLive - No.1 Job site in India. Here you can find latest 2022 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail...
DMCA.com Protection Status