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Quants Questions : Profit and Loss Set 2

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

  1. The cash difference between the selling price of an article at a profit of 8% and 4% is Rs 3 the ratio of the two selling price is
    A. 51 : 52
    B. 27 : 26
    C. 51 : 53
    D. 52 : 55
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    Solution
    Answer – B (27:26)
    Explanation – Let the C.P of the article be Rs. x
    Then required ratio = 108% of x / 104% of x
    = 108/104= 27:26


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  2. A man sells two flats at the rate of Rs. 2 lakhs each. On one he gains 3% and on the other, he loses 3%. His gain or loss % in the whole transaction is
    A. 9% loss
    B. 2% loss
    C. 3% loss
    D. 25% loss
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    Solution
    Answer – A (0.09% loss)
    Explanation – Loss% = X^2/100=(3)^2/100 %  =0.09%


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  3. A man sells two flats for Rs. 8000 each. neither loosing nor gaining in the deal. If he sold one at a gain of 25%, the other commodity sold at a loss of:
    A. 50/3 %
    B. 18 /3%
    C. 25%
    D. 32%
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    Solution
    Answer – A (50/3 %)
    Explanation – Total S.P = 16000 Rs. and Total C.P = 16000 Rs.
    S.P. of Ist = Rs. 8000. Gain on it = 25%
    C.P of Ist = Rs. (100/125 x 8000) = Rs.6400
    C.P of 2nd = Rs, (16000 – 6400) = Rs. 9600.
    S.P of 2nd = 8000.
    ∴loss on 2nd commodity = (1600/9600 x 100)% = 50/3%


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  4. A house and shop were sold for Rs. 1 lakh each. In this transaction the house sell resulted into 20% loss whereas the shop sell resulted into 20% of profit. The entire transaction resulted in:
    A. no loss no gain
    B. loss of Rs 1/12 lakh
    C. loss of Rs 4lakh
    D. gain of Rs 6lakh
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    Solution
    Answer – B (loss of Rs. 1/12 lakh)
    Explanation – Total S.P = Rs. 2 lakh.
    C.P of house = Rs. (100/80 x 1)lakh = Rs 5/4 lakh
    C.P of shop = Rs. (100/120 x 1)lakh = Rs. 5/6 lakh
    Total C.P = Rs. (5/4 + 5/6)lakh = Rs. 25/12 lakh
    ∴ loss = Rs.(25/12 – 2)lakh = Rs. 1/12 lakh.


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  5. Reshma purchased 120 chairs at price of Rs. 110 per chair. He sold 30 chairsat a profit of Rs. 12 per chair and 75 chairs at profit of Rs. 14 per chairs. The remaining chairs were sold at a loss of Rs. 7 per chairs. What is the average profit per table?
    A. Rs 10.56
    B. Rs 10.87
    C. Rs 12.123
    D. Rs 12.67
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    Solution
    Answer – B (Rs 10.875)
    Explanation – Total C.P = Rs. (120 x 110) =Rs. 13200.
    Total S.P = Rs.[(30 x 110 + 30 x 12) + (75 x 110 + 75 x 14) + (15 x 110 – 15 x 7)
    =Rs..14505
    Average profit = Rs. (14505 – 13200) /120
    = Rs. 1305/120= 10.875


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  6. Hemant sold 10 sarees for a total profit of Rs. 460 and 12 sarees for a total profit of Rs. 144. At what profit per saree should he sell the remaining 20 sarees so that he gets an average profit of Rs. 18 per sarees?
    A. Rs 7.10
    B. Rs 7.60
    C. Rs 7.99
    D. Rs 8
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    Solution
    Answer – B (Rs 7.60)
    Explanation – Total profit required = Rs.(42 x 18) = Rs.756
    Profit on 22 sarees = Rs. (460 + 144) = Rs. 604
    Profit on 20 sarees = Rs. (756 – 604) = Rs. 152
    Average profit on these sarees = Rs.(152/20) = Rs. 7.60


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  7. Sanki purchased 20 dozen notebook at Rs. 48 per dozen. He sold 8 dozen at 10% profit and remaining 12 dozen with 20% profit. What is his profit percentage in the transaction?
    A. 8%
    B. 15%
    C. 16%
    D. 19%
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    Solution
    Answer – C (16%)
    Explanation – C.P of 20 dozen = Rs.(48 x 20) = Rs.960
    C.P of 8 dozen = Rs. (48 x8) = Rs. 384.
    C.P of 12 dozen =Rs. (960 – 384) = Rs. 576
    Total S.P = Rs. (110/100 x 384 +120/100 x 576) = Rs.1113.60
    ∴ Profit % = (153.60/960 x 100)% =16%


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  8. A man purchased wheat worth Rs. 400. He sold 3/4 at a loss of 10% and the reminder at a gain of 10%. On the whole he gets:
    A. loss of 5%
    B. gain of 5
    C. loss of 19%
    D. loss of 6%
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    Solution
    Answer – A (loss of 5%)
    Explanation – C.P of 3/4th = Rs. (3/4 x 400) = Rs. 300,
    C.P of 1/4th = Rs. 100
    ∴ Total S.P = (90% of Rs. 300 + 110% of Rs. 100) = Rs. 380
    Loss = (20/400 x 100)% = 5%


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  9. Reema buys dress for 10% less than its value and sells it for 10% more than its value. His gain or loss percent is:
    A. no profit, no loss
    B. 20% profit
    C. less than 20% profit
    D. more than 20% profit
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    Solution
    Answer – D (more than 20% profit)
    Explanation –
    Let the article be worth Rs. x.
    C.P. = 90% of Rs. x. = Rs.(9/10)x S.P. = 110% of Rs.x = Rs.(11/10)x
    Gain = Rs.11/10x- 9/10x=(1/5)x
    gain %=(2/5x) x (10/9x) x 100 =44.44% >20%


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  10. A retailer buys 40 pens at the marked price of 36 pens from a wholesaler. If he sells these pens giving a discount of 1%, what is the profit percent?
    A. 10%
    B. 22%
    C. 25%
    D. 26%
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    Solution
    Answer – A (10%)
    Explanation – Let the marked price of each pen be Re. 1.
    Then, C.P. of 40 pens = Rs. 36.
    S.P. of 40 pens = 99% of Rs. 40 = Rs. 39.60.
    ∴ Profit% = [3.60/36 x 100]% = 10%.


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  11. Jimmy bought 25 apples for Rs.10 and sold them at the rate of 24 apples for Rs.12. What is the percentage of profit made by him?
    A. 25%
    B. 70%
    C. 60%
    D. 100%
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    Solution
    Answer – A (25%)
    Explanation – CP of 1 apple=10/25=2/5
    SP of 1 apple=12/24=1/2
    profit= 1/2-2/5=1/10
    %= [(1/10) / (2/5) ] x 100 =25 %


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  12. 60% loss on cost price is what percent loss on selling price?
    A. 28
    B. 38 %
    C. 40
    D. 150%
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    Solution
    Answer – D (150 %)
    Explanation – Loss = 60% on CP i.e., 0.6CP
    ⇒ SP = 0.4CP Loss % on SP = loss/SP x 100
    = 0.6CP/0.4CP x 100 = 150%.


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  13. A person, by selling an article at half of the list price incurs a loss of 20%. Find the profit percentage if he sells at the list price?
    A. 25%
    B. 60%
    C. 5%
    D. 30 %
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    Solution
    Answer – B (60 %)
    Explanation – 0.50 MP = 0.8 CP (since 20% loss) So, MP = 160CP ⇒ 60% gain.


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