Profit and Loss Aptitude Solved Examples

Question No. 01
A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is:
(A) 5 15/17 % loss
(B) 5 15/17 % gain
(C) 6 2/3 % gain
(D) None of these
Answer: Option
Explanation:
C.P. of 1st transistor = Rs. {(100/120) × 840} = Rs. 700
C.P. of 2nd transistor = Rs. {(100/96) × 960} = Rs. 1000

So, total C.P. = Rs. (700 + 1000) = Rs. 1700
Total S.P. = Rs. (840 + 960) = Rs. 1800
Gain % = {(100/1700) × 100} % = 5 15/17 %

Question No. 02
In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?
(A) 30%
(B) 70%
(C) 100%
(D) 250%
Answer: Option B
Explanation:
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420
Profit = Rs. (420 - 125) = Rs. 295
Required percentage = {(295/420) × 100} % = (1475/21) % = 70% (approximately).

Question No. 03
On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:
(A) Rs. 45
(B) Rs. 50
(C) Rs. 55
(D) Rs. 60
Answer: Option D
Explanation:
(C.P. of 17 balls) - (S.P. of 17 balls) = (C.P. of 5 balls)
=> C.P. of 12 balls = S.P. of 17 balls = Rs.720
=> C.P. of 1 ball = Rs. (720/12) = Rs. 60

Question No. 04
A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
(A) 3
(B) 4
(C) 5
(D) 6
Answer: Option C
Explanation:
C.P. of 6 toffees = Re. 1
S.P. of 6 toffees = 120% of Re. 1 = Rs. 6/5
For Rs. 6/5, toffees sold = 6
For Rs. 1, toffees sold = {6 × (5/6)} = 5

Question No. 05
A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?
(A) Rs. 18.20
(B) Rs. 70
(C) Rs. 72
(D) Rs. 88.25
Answer: Option C
Explanation:
C.P. = Rs. {(100/122.5) × 392} = Rs. {(1000/1225) × 392} = Rs. 320
 Profit = Rs. (392 - 320) = Rs. 72

Question No. 06
Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?
(A) 3.5
(B) 4.5
(C) 5.6
(D) 6.5
Answer: Option C
Explanation:
Cost Price of 1 toy = Rs. (375/12) = Rs. 31.25
Selling Price of 1 toy = Rs. 33
So, Gain = Rs. (33 - 31.25) = Rs. 1.75
 Profit % = {(1.75/31.25) × 100} % = (28/5) % = 5.6%

Question No. 07
When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?
(A) Rs. 21,000
(B) Rs. 22,500
(C) Rs. 25,300
(D) Rs. 25,800
Answer: Option C
Explanation:
Here, 85 : 18700 = 115 : x
=> x = (18700 × 115)/85 = 25300
Hence, S.P. = Rs. 25,300.

Question No. 08
If selling price is doubled, the profit triples. Find the profit percent.
(A) 66⅔
(B) 100
(C) 105 1/3
(D) 120
Answer: Option B
Explanation:
Let C.P. be Rs. x and S.P. be Rs. y
Then, 3(y - x) = (2y - x)
=> y = 2x
Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x
Profit % = {(x/x) x 100} % = 100%

Question No. 09
A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?
(A) Rs. 1090
(B) Rs. 1160
(C) Rs. 1190
(D) Rs. 1202
Answer: Option C
Explanation:
S.P. = 85% of Rs. 1400 = Rs. {(85/100) × 1400} = Rs. 1190

Question No. 10
100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is:
(A) 14 2/7 % gain
(B) 15 % gain
(C) 14 2/7 % loss
(D) 15 % loss
Answer: Option A
Explanation:
C.P. of 1 orange = Rs. (350/100) = Rs. 3.50
S.P. of 1 orange = Rs. (48/12) = Rs. 4
Gain% = {(0.50/3.50) × 100} % = (100/7) % = 14 2/7 %

Profit and Loss:
Formula:                Profit and Loss Formulas
Solved Examples:  Solved Examples: Set 01
Practice Test:         Practice Test: 01     Practice Test: 02     Practice Test: 03
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