Quants Questions : Profit and Loss Set 6

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. Do see the solutions, you might get any shortcut.

1. A man purchased some fruits for Rs 1000. He sold 2/5th of the fruits worth Rs 400 at 10% profit. At what percent must he sell the rest in order to get 20% profit on the whole?
   A. 26 2/3%
   B. 25%
   C. 30%
   D. 33 1/3%
   
   Answer

   A. 26 2/3%
   Explanation:
   2/5 (10) + 3/5 (x) = 20
   Find x
   
   
2. A retailer marked its goods at 50% above the cost price and thinking that he will still make 30% profit, offers a discount of 20% on the marked price. What is the actual profit on the sale?
   A. 18%
   B. 25%
   C. 20%
   D. 15%
   
   Answer

   C. 20%
   Explanation:
   50 + (-20) + (50)(-20)/100
   
   
3. Toffees are bought at 27 for a rupee. How much must be sold for a rupee so as to gain 50%?
   A. 18
   B. 25
   C. 20
   D. None of these
   
   Answer

   A. 18
   Explanation:
   27 * (100/150) = 18
   
   
4. By selling 8 articles, a tradesman makes a loss equal to the cost price of 4 articles. Find loss%.
   A. 25%
   B. 100/3%
   C. 50%
   D. None of these
   
   Answer

   C. 50%
   Explanation:
   C.P of 8 articles – S.P of 8 articles = C.P of 4 articles
   C.P of 4 articles = S.P of 8 articles
   Profit% = (8 – 4)/8 * 100 = 50%
   
   
5. Shopkeeper marks his goods at Rs 2,000. Now after allowing a discount of 25%, he gains 50%. Find the cost price of the article.
   A. Rs 1800
   B. Rs 1000
   C. Rs 1500
   D. None of these
   
   Answer

   B. Rs 1000
   Explanation:
   Use M.P. = (100 + p%)/(100 – d%) * C.P.
   
   
6. Two articles are bought at Rs 800 each. While selling the articles, trader made 10% profit on the first article and 10% loss on the second article. Find the overall profit/loss percent.
   A. 25%
   B. 100/3%
   C. Neither loss nor profit
   D. None of these
   
   Answer

   C. Neither loss nor profit
   Explanation:
   When two articles are bought at same price and sold at equal profit % and loss % respectively, it is neither profit nor loss
   
   
7. A fruit vendor purchased 21 apples for Rs 180. 33 1/3% of the apples were rotten and had to be thrown away. What price should the trader charge per apple if he wants to earn a profit of 16 2/3%?
   A. Rs 28
   B. Rs 15
   C. Rs 22
   D. Rs 25
   
   Answer

   B. Rs 15
   Explanation:
   33 1/3 % rotten implies 100/3 * 100 *21 = 7 rotten
   14 apples left
   For profit of 16 2/3% or 50/3%
   S.P. of 14 apples should be (100 + 50/3)/100 * 180 = 210
   
   
8. By selling an item at 7/10th of the actual selling price, a trader makes a profit of 20%. If he sells the product at 20% less than the actual selling price, then what will be the profit or loss %?
   A. 30%
   B. 20%
   C. 37 1/7%
   D. 33 1/3%
   
   Answer

   C. 37 1/7%
   Explanation:
   C.P.        S.P.
   Profit is 20%. So,
   (7/10 S.P. – C.P.)/C.P. * 100 = 20
   This gives S.P. = 12/7 C.P.
   Now product sold at 20% less S.P. i.e. 80/100 or 4/5 of S.P.
   Profit/loss% = (4/5 S.P. – C.P.)/C.P. * 100
   Put S.P. = 12/7 C.P. and find the final answer
   
   
9. Raman bought an item at 20% discount on its original price. He sold it with 40% increase on the price he bought it. The new sale price is by what percent more than the original price?
   A. 12%
   B. 20%
   C. 15%
   D. 25%
   
   Answer

   A. 12%
   Explanation:
   40 + (-20) + (40)(-20)/100
   
   
10. The selling price of an article is marked at 10% above the cost price. At the time of selling, he allows a certain discount and suffers a loss of 1%. He allowed a discount of:
    A. 20%
    B. 10%
    C. 15%
    D. 25%
    
    Answer

    B. 10%
    Explanation:
    Use M.P. = (100 + p%)/(100 – d%) * C.P.
    110/100 M.P. = (100 – 1)/(100 – d%) * C.P.
    Find d%