Aptitude Questions: Profit and Loss Set 12

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Questions penned by Yogit

1. An article is sold for rupees 400 in which the seller fetches 25% profit. If 6 such articles are sold for rupees 2400, then the percent profit/loss incurred by the seller
   A.25% profit
   B.20% profit
   C.25% loss
   D.20% loss
   E.None of these
   
   Answer & Explanation

   Answer –A.25% profit
   Explanation :
   400 = (125/100)*CP
   CP = 320.
   Selling price = 2400/6 = 400.
   % profit = [(400 – 320)/320]*100 = 25
   
   
   
2. A trader gives an additional concession of 35% on an article which is already get discounted by 20% on the marked price. If the buyer pays an amount of 1300 for the article, then the marked price is
   A.2200
   B.2500
   C.2600
   D.2700
   E.None of these
   
   Answer & Explanation

   Answer – B.2500
   Explanation :
   MP*(80/100)*(65/100) = 1300
   
   
   
3. A shopkeeper bought 120 chairs at the rate of 250 each. He spends 3000 rupees on transportation. He marked the price of each chair at 400 rupee. On the marked price he gives 10% discount, then find the profit incurred by the shopkeeper.
   A.340/11%
   B.350/11%
   C.330/13%
   D.330/11%
   E.None of these
   
   Answer & Explanation

   Answer – A.340/11%
   Explanation :
   cost price of each chair = 250 + 3000/120 = 275
   selling price = 400*90/100 = 360
   % profit = [(360 – 275)/275]*100
   
   
   
4. Rahul bought 20kg of rice at rupees 30 per kg and 40 kg of rice at 35 rupees per kg. Now he sold the entire lot at 45 rupees per kg. Find the amount of loss and profit made by rahul.
   A.650
   B.700
   C.750
   D.800
   E.None of these
   
   Answer & Explanation

   Answer – B.700
   Explanation :
   total cost price = 20*30 + 40*35 = 2000
   total selling price = 45*60 = 2700
   profit made = 700
   
   
   
5. A trader sold an article for rupees 810 after giving a discount of 10 percent on the labelled price and gain 20% percent. What will be the profit percent when the article is sold at labelled price.
   A.100/7 %
   B.100/3 %
   C.200/3 %
   D.200/7 %
   E.None of these
   
   Answer & Explanation

   Answer – B.100/3 %
   Explanation :
   810 = (120/100)*p
   cp = 675.
   (90/100)*Mp = 810
   Mp = 900.
   % profit = [(900 – 675)/675]*100
   
   
   
6. A company declared 20 percent discount on its garments. Rakesh bought garments worth rupees 30000 after getting discount. Now he fixed the selling price of the garments in such a way that he got a profit of 15 percent on the marked price. Find the selling price of the garments.
   A.34000
   B.34225
   C.35625
   D.36000
   E.None of these
   
   Answer & Explanation

   Answer – C.35625
   Explanation :
   (80/100)*MP = 30000
   MP = 37500, CP = 30000
   Profit = (15/100)*37500 =5625
   SP = 30000+5625 = 35625 rupee
   
   
   
7. A shopkeeper sold certain articles at 380 after giving a discount of 5 percent. If the discount is not given he would have been gain 20 percent. What is the cost price of the articles (approx.)
   A.332
   B.333
   C.334
   D.335
   E.None of these
   
   Answer & Explanation

   Answer – B.333
   Explanation :
   (95/100)*MP = 380. Mp = 400
   400 = (120/100)*Cp
   CP = 333.33
   
   
   
8. If a discount of 15 percent is given on an article then the shopkeeper make a profit of 5 percent. Find the percent profit made by the seller when a discount of 10 percent is given
   A.11.3/17 %
   B.11.4/17 %
   C.11.5/17 %
   D.11.7/17 %
   E.None of these
   
   Answer & Explanation

   Answer – A.11.3/17% 
   Explanation :
   (85/100)*mp = (105/100)*cp
   (90/100)*mp = [(100+p)/100]*(85/105)*mp
   
   
   
9. The marked price of an article is 20% above the cost price. When the selling price of an article is increased by 30% the profit doubles. If the marked price of an article is 480, then original selling price is.
   A.531.15
   B.537.14
   C.571.4
   D.582.12
   E.None of these
   
   Answer & Explanation

   Answer – C.571.4
   Explanation :
   Given MP = 120/100*CP. So, CP = 400.
   SP -400 = P (Profit)
   (130/100)*SP – 400 = 2P
   Solving both equation we get, SP = 4000/7 = 571.4
   
   
   
10. A trader gains 10% while buying the goods and gains 20% while selling the goods. Find the gain percent of the trader.
    A.30
    B.31
    C.32
    D.34
    E.None of these
    
    Answer & Explanation

    Answer – C.32
    Explanation :
    Traders gain 10% on buying means an article cost 110rs, he buy it for 100.
    Now he sell it for 20% profit means 110*(120/100) = 132. So gain% is 32.