Profit and Loss
- FORMULAS:
1. SP > CP --> Profit
2. SP < CP ---> Loss
3. MRP - P ---> SP
4. Profit and Loss is always depended on Cost price only
1.
A table is bought for Rs.400/- and sold at Rs.500/- find gain or loss percentage
Answer: Option 'C'
Formula = (Selling price ~ Cost price)/Cost price × 100
= (500 - 400)/400 = 25% gain
2.
A chair is bought for Rs.900/- and sold at Rs.810/- find the loss percentage
Answer: Option 'B'
Formula = (Selling price ~ Cost price)/Cost price × 100
= (810 ~ 900)/900 = 10% Loss
3.
A bat is bought for Rs.400 and sold at a gain of 20% find its selling price
Answer: Option 'D'
100 % ------> 400 (100 × 4 = 400)
120 % ------> 480 (120 × 4 = 480)
Selling price = Rs.480/-
4.
A chair is bought for Rs.600/- and sold at a loss of 10% find its selling price
Answer: Option 'A'
100 % ------> 600 (100 × 6 = 600)
90 % ------> 540 (90 × 6 = 540)
Selling price = Rs.540/-
5.
By selling a watch for Rs.640/-, a man loses 20% what is that watch cost price
Answer: Option 'C'
80 % ------> 640 (80 × 8 = 640)
100 % ------>800 (100 × 8 = 800)
Cost price = Rs. 800/-
6.
Harkamal purchased 8kg of grapes at the rate of 70 per kg and 9 kg of mangoes at the rate of 55 per kg. How much amount did he pay to the shopkeeper?
Answer: Option 'C'
Cost of 8 kg grapes = 70 × 8 = 560.
Cost of 9 kg of mangoes = 55 × 9 = 490.
Total cost he has to pay = 560 + 490 = 1055.
7.
Suresh started a business, investing Rs.18000. After 3 months and 4 months respectively, Rohan and Sudhir joined him with capitals of 12000 and 9000. At the end of the year the total profit was Rs.3982. What is the difference between Rohan’s and Sudhir’s share in the profit?
Answer: Option 'C'
Suresh : Rohan : Sudhir
Ratio of their investments = 18000 × 12 : 12000 × 9 : 9000 × 8
= 6 : 3: 2
The difference between Rohan’s and Sudhir’s share = 1 share
:.i.e. = Rs. 3982 × 1/11 = Rs.362.
8.
Narendra started a business, investing 30000. Six months later, Chandan joined him with 15000. If they make a profit of 10000 at the end of the year, what should be the share of Narendra?
Answer: Option 'B'
The ratio of their investments = 30000 × 12 : 15000 × 6 = 4 : 1.
:. Narendra’s share on profit of Rs.10000 = 10000 × 4/5 = Rs.8000.
9.
By selling a book for 270, 20% profit was earned. What is the cost price of the book?
Answer: Option 'D'
SP = 120% of CP; :. CP = 270 × 100/120 = 225
10.
A shopkeeper sold some articles @ 35 per article and earned a profit of 40%. At what price each article should have been sold so that 60% profit was earned?
Answer: Option 'D'
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.
11.
By selling a bat for Rs.720/- a man loses 10% what is that bat cost price
Answer: Option 'A'
90 % ------> 720 (90 × 8 = 720)
100 % ------>800 (100 × 8 = 800)
Cost price = Rs.800/-
12.
By selling a watch for Rs.720/- a man loses 10% at what price should he sell it to gain 10%?
Answer: Option 'B'
90 % ------> 720 (90 × 8 = 720)
110 % ------> 880 (110 × 8 = 880)
= Rs.880/-
13.
A man sells an article at 10% gain. Had be sold at for Rs.60/- more he could have gained 20% what is cost price of article
Answer: Option 'B'
First selling price = 110 % -----> X Rupees
=sold at for Rs.60/- = 120 % -----> X + 60 Rupees
~
----------------------------------------------
10 % --------> 60
100 % ------->Rs.600/-
OR
Short cut method :
---------------------------
Profit,Profit = -
Ptofit,Loss = +
Loss,Loss = -
Loss,Profit = +
---------------------------
OPPOSITE ==> +
SAME ===> -
----------------------------
Profit ==> 10 %
profit ==> 20%
~
----------------
10 % ---------> 60
100 % --------> Rs.600/-
14.
A man sells an article at 5% loss. Had he sold it for Rs.60 more he could have gained 10%. What is the cost price of the article?
Answer: Option 'A'
Short cut method:
Loss =====> 5 %
Profit ====> 10 %
~
----------------
15 % ---------> Rs.60/-
100 % --------> Rs.400/-
15.
A man sells an article at 7% loss. Had he sold it for Rs.72 more he could have gained 5%. what is the cost price of the article
Answer: Option 'D'
Short cut method:
Loss =====> 7 %
Profit ====> 5 %
~
----------------
12 % ---------> 72
100 % --------> Rs.600/-
16.
The price of two tables and three chairs is Rs.5600. What will be the price of six tables and nine chairs?
Answer: Option 'A'
The cost of two tables + three chairs = 5600.
Multiply each term by 3, we get,
Cost of 6 table + 9 chairs = 16800.
17.
Amit purchased a book with a 10% discount on the labeled price. How much did he pay if the labelled price was 600?
Answer: Option 'C'
Selling Price = 600 – 10% of 600 = 600 – 60 = 540.
18.
Kaavya sold an item for 4080 and incurred a loss of 20%. At what price should she have sold the item to have gained a profit of 20%?
Answer: Option 'B'
Cost Price = 4080 × 100 /80 ( Because SP is 80% CP)
= Rs. 5100.
For 20% profit = Rs. 5100 + 1020 = 6120.
19.
The owner of an electronic store charges his customer 9% more than the cost price. If a customer paid 1,26440 for an LED T.V., then what was the original price of the T.V.?
Answer: Option 'A'
Selling Price = 109% of CP;
:. CP = 126440 × 100/109 = 116000.
20.
The profit earned by selling on article for 900 is double the loss incurred when the same article is sold for 450. At what price should the article be sold to make 25% profit?
Answer: Option 'B'
Let ‘x’ be the CP of the article;
Then 900 – x = 2(x – 450); :. x= 600.
25% of 600 = 150
:. New SP = 600 + 150 = 750
Recent Posts
- Averages (200 Questions with Explanation): Quantitative Aptitude Test
- Boats and Streams :(31) MCQs with Answers
- Calender and Dates : MCQs with Answers Download PDF
- Co Ordinate Geometry - Problems and Solutions
- Clocks and Time
- Compound Interest : Aptitude Test (65 Questions with Explanation)
- L.C.M and H.C.F : Aptitude Test
- Problems on Areas : Aptitude Test
- Problems on Volumes
- Number System : Aptitude Test (200 Questions with Explanation)
- Partnership : Aptitude Test
- Percentage : Aptitude Test
- Permutations Combinations
- Profit and Loss
- Probability -Aptitude
- Ratios and Proportions (114 Questions with Explanation)
- Simplifications
- Simple Interest
- Time and Work :(96) MCQs with Answers
- Time and Distance :(25) MCQs with Answers
- Problems on Trains
- Trignometry Formulae : Quantitative Aptitude Test
- Latest model Quant Questions for SBI PO - Practice Test 1
- Latest model Quant Questions for SBI PO - Free online Practice Test 2
- Aptitude Test - Practice Test - 1 - For All Competitive Exams
- Twisted and Difficulty Level Quantitative Aptitude Questions for NICL AO Mains 2017
- Mensuration : Area - Volume - Quantitative Aptitude
- Metric Distance Conversion with Whole Number Values Online Quiz
- Metric Conversion with Decimal Values: Two-Step Problem Online Quiz
- Important Aptitude Test Questions and Answers for freshers
RRB NTPC and RRB Group D Model Papers in Telugu
- RRB NTPC and RRB Group D Free Model Papers in Tamil Telugu Hindi and English
- Current Affairs in Telugu - RRB NTPC and RRB Group D Model Papers in Telugu
- Arithmetic and Maths in Telugu MCQs - RRB NTPC and RRB Group D Model Papers in Telugu
- Biology MCQs - RRB NTPC and RRB Group D Model Papers in Telugu
- Reasoning Practice Tests in Telugu - RRB NTPC and RRB Group D Model Papers in Telugu
- Science and Technology MCQs - RRB NTPC and RRB Group D Model Papers in Telugu
- Chemistry MCQs in Telugu - RRB NTPC and RRB Group D Model Papers in Telugu
- Physics MCQs in Telugu - RRB NTPC and RRB Group D Model Papers in Telugu
- Indian Polity - Constitution & Administration in Telugu - RRB NTPC and RRB Group D Model Papers in Telugu
- Indian Geography in Telugu MCQs - RRB NTPC and RRB Group D Model Papers in Telugu
- Andhra Pradesh - Geography in Telugu - RRB NTPC and RRB Group D Model Papers in Telugu
- General Knowledge MCQs - RRB NTPC and RRB Group D Model Papers in Telugu
- General Studies in Telugu - APPSC TSPSC UPSC - MCQs
- Andhra Pradesh Economics Question and Answers - MCQs