Aptitude Questions: Profit and Loss Set 11

Hello Aspirants. Welcome to Online Quantitative Aptitude section in AffairsCloud.com. Here we are creating question sample in Profit and loss , which is common for all the competitive exams. We have included Some questions that are repeatedly asked in exams!!!

1. After allowing a discount of 25% on the market price of an article, there is a gain of 20%. What is the profit % if the article is sold at market price i.e. allowing no discount?
   A) 65%
   B) 55%
   C) 60%
   D) 50%
   E) 35%
   
   Answer & Explanation

   C) 60%
   Explanation:
   Let MP = Rs 100
   SP = Rs 75, then Discount = 25
   Gain = 20%
   CP = (100/120) * 75 = 62.5
   So Profit% when no discount = [100-62.5/62.5]*100
   
   
   
2. A chair and a table together cost Rs 1800. If by selling the table at a profit of 15% and the chair at a loss of 10% a total profit of 6% is made, then what is the cost price of the chair?
   A) Rs 890
   B) Rs 844
   C) Rs 648
   D) Rs 728
   E) None of these
   
   Answer & Explanation

   D) Rs 648
   Explanation:
   Be method of allegation:
   15                   -10
   .           6
   6-(-10)            15-6
   16 : 9
   So cost of table = 9/(16+9) * 1800
   
   
3. An article is marked 10% above the cost price. When the selling price of an article is increased by 20% the profit gets increased by Rs 96. If the marked price of the article is Rs 440, then find original selling price.
   A) Rs 455
   B) Rs 365
   C) Rs 385
   D) Rs 435
   E) Rs 480
   
   Answer & Explanation

   E) Rs 480
   Explanation:
   MP = 440, Also given MP = (110/100)*CP, so CP = Rs 400
   Now SP – 400 = P
   And given that, when SP increased by 20%:
   (120/100)*SP – 400 = P + 96
   Solve both equations
   
   
4. An article is sold at a discount of 25% and still there is a gain of 20% on it. Find the marked price of the article if it costs Rs 525.
   A) Rs 658
   B) Rs 840
   C) Rs 758
   D) Rs 930
   E) None of these
   
   Answer & Explanation

   B) Rs 840
   Explanation:
   Use M.P. = (100 + p%)/(100 – d%) * C.P.
   So MP = (100+20)/(100-25) * 525
   
   
   
5. An article is marked at Rs 1500. A customer gets a discount of 20% on it. If he wants the article at Rs 960, what additional discount he wants to have?
   A) 15%
   B) 20%
   C) 14%
   D) 22%
   E) 18%
   
   Answer & Explanation

   B) 20%
   Explanation:
   1500 * [(100-20)/100] * [(100-x)/100] = 960
   
   
   
6. Cost price of 25 note books is equal to the selling price of 40 note books. What is the gain or loss per cent?
   A) 37 1/2% loss
   B) 23 2/3% loss
   C) 23 2/3% gain
   D) 37 1/2% gain
   E) 45% loss
   
   Answer & Explanation

   A) 37 1/2% loss
   Explanation:
   CP of 25 = SP of 40
   When number of articles in SP > number of articles in CP, these is loss, so
   loss % = (40-25)/40 * 100
   
   
7. There is a loss of 25% on an article when it is sold at 3/5th the previous selling price. What is the actual profit% on it?
   A) 25%
   B) 30%
   C) 18%
   D) 10%
   E) 22%
   
   Answer & Explanation

   A) 25%
   Explanation:
   Shortcut:
   [(5/3)*(100-25)] – 100 = 125 – 100
   
   
8. A shopkeeper bought an article at 20% discount on the marked price, and he sold it at a profit of 40% on the marked price. What is the actual profit% made by the shopkeeper?
   A) 55%
   B) 45%
   C) 75%
   D) 72%
   E) 66%
   
   Answer & Explanation

   C) 75%
   Explanation:
   Let MP = 100
   So CP = Rs 80
   And SP = 140
   So actual profit% = (140-80)/80 * 100
   
   
9. 5 kg of an article is bought at Rs 480, 1/3rd of it is sold at a profit of 20%. At what loss% should the remaining article be sold so that there is an overall profit of 3 1/3%?
   A) 8.5%
   B) 7%
   C) 6.5%
   D) 5%
   E) 8%
   
   Answer & Explanation

   D) 5%
   Explanation:
   Shortcut:
   Let the remaining 2/3rd be sold at x% loss
   1/3(20) + 2/3(-x) = 3 1/3 [x% loss, so used – sign]
   1/3(20) + 2/3(-x) = 10/3
   Solve, x = 5%
   
   
10. An article is sold at 25% profit. If the CP and the SP of the article are increased by Rs 60 and Rs 30 respectively, the profit% decreases by 15%. Find the cost price of the article.
    A) Rs 190
    B) Rs 240
    C) Rs 285
    D) Rs 305
    E) None of these
    
    Answer & Explanation

    B) Rs 240
    Explanation:
    CP = x, then SP = (125/100)*x = 5x/4
    New CP = (x+60), new SP = (5x/4 + 30), new profit% = 25-15 = 10
    So (5x/4 + 30) = (110/100) * (x+60)
    Solve, x = 240