Profit and Loss- Aptitude Questions and Answers

 By selling 8 bananas, a fruit seller gains an amount equal to the selling price of 1 banana. Calculate his gain percent.? A) 15.28~ % B) 14.28~ % C) 16.28~ % D) 17.28~ % Correct Answer :14.28~ % Explanation :Profit = SP - CP Profit% = (Profit* 100)/CP Let SP of 1 banana is x. Then , SP of 8 bananas = 8x. Gain=selling price of 1 banana= 1x. CP = SP-gain=7x Therefore %Gain = (1x*100)/7x profit%= 14.28~%. By selling 27 meter cloth, a person earns selling price of 9 meter cloth as profit. Find his percentage profit.? A) 33% B) 20% C) 50% D) 25% Correct Answer :50% Explanation :Profit = SP - CP Profit% = (Profit* 100)/CP Let SP of 1 meter cloth is x. Then , SP of 27 meter cloth = 27x. Gain=SP of 9 meter cloth = 9x. CP = SP-gain=27x-9x=18x Therefore %Gain = (9x*100)/18x profit%= 50%. If a person earns a profit of 10% by selling a car and incurs a loss of 20% while selling another car, find his overall profit or loss if the cost price of both the cars are same? A) 10% Loss B) 15% Profit C) 5% Loss D) 10%Profit Correct Answer :5% Loss Explanation :Let the CPs of car is Rs.100 1st SP on profit of 10% = 100 + 10% * 100 = Rs.110. 2nd SP on loss of 20% = 100 - 20% * 100 = Rs.80. Total CP of both car = Rs.200. Total SP of both car = (110+80)= Rs.190 Loss = CP - SP = 200-190 = Rs.10 Loss%= (Loss * 100)/CP= (10*100)/200 = 5 So, 5% Loss A trader sells his goods to a customer at a price 10% above the cost price; besides it he cheats his customer by giving 880 g only instead of 1 kg. Find his overall profit? A) 22% B) 22% C) 25% D) 20% Correct Answer :25% Explanation :Let, Original CP of 1000g = Rs. 1000 New CP,after 10% above= 1000 + 10 % of 100=> Rs.1100 Trader cheats his customer by giving 880g only instead of 1kg, So, CP of 880g should be= Rs. 880 SP of 880g =CP of 1 kg+ 10% above of 1kg CP= 1000 + 100 =1100 Profit% = ((SP - CP)* 100)/CP Profit % = [ ( 1100 - 880 ) / 880 ] * 100 Profit % = [ 220 / 880 ] * 100 Profit % = 25 Pepsi and Coke, there are two companies, selling the packs of cold­drinks. For the same selling price Pepsi gives two successive discounts of 10% and 25% on marked price, while Coke sells it by giving two successive discounts of 15% and 20% on marked price. What is the ratio of their marked price? A) 143 : 144 B) 19 : 11 C) 136 : 135 D) 73 : 77 Correct Answer :136 : 135 Explanation :Let MP of Pepsi be P and Coke be C. P after two successive discounts = 90/100 * 75/100 * P C after two successive discounts = 85/100 * 80/100 * C therefore ratio or price , 90/100 * 75/100 * P = 85/100 * 80/100 * C P/C = 85 * 80 / 90 * 75 => 17 * 8 / 9 * 15 P/C =136/135 A merchant bought 200 eggs, of which 38 got broken. He sold the remaining eggs at the rate of 4.80 per dozen and thus gained 8%. His cost price is? A) 120 B) 80 C) 60 D) 45 Correct Answer :60 Explanation :Remaining eggs = 200 - 38 = 162 The rate of 4.80 per dozen, therefore selling price of 168 eggs, SP= 162 * (4.8/12) => 64.8 Profit% = ((SP - CP)* 100)/CP 8 = ((64.8 - CP)* 100)/CP 8*CP=6480-100*CP 108*CP=6480 CP=6720/108 CP=60 A stationer buys diaries at 75 rupees per dozen and sells them at 15 rupees per piece. What is the profit? A) 75 B) 100 C) 105 D) 110 Correct Answer :105 Explanation :Profit = SP - CP (if SP > CP), Each dozen carries cost 75 rupees and are sold for 12 x 15 = 180 rupees Profit = 180-75 = 105 rupees 6 % more is gained by selling a coat for Rs.1425 than by selling it for Rs. 1353. The cost price of the coat is A) Rs. 1000 B) Rs. 1250 C) Rs. 1500 D) Rs. 1200 Correct Answer :Rs. 1200 Explanation :6% of cost price (CP) = 1425 - 1353 = 72 Thus, CP = ( 72 * 100 ) / 6 = 1200 A trader sells two articles, one at a loss of 10% and another at a profit of 15% but finally there is no loss or gain.If the total sale price of these two articles is Rs.30,000, find the difference between there cost price? A) Rs.5000 B) Rs.6000 C) Rs.7500 D) None of these Correct Answer :Rs.6000 Explanation :As given, 10 % x = 15% of y , then, x / y = 3/2 -------(1) Total sale price of these two articles= x+y = 30000 -------(2) By solving eq. (1) & (2) , x = 18000, y = 12000 Hence, the difference, (x-y)=6000 A discount series of 10%, 20% and 40% is equal to single discount of ? A) 50% B) 56.80% C) 70% D) 70.28% Correct Answer :56.80% Explanation :Let original price = Rs. 100 Price after 1 st discount = Rs. 90 Price after 2 nd discount = Rs. (80/100) x 90 = Rs. 72 Price after 3 rd discount = Rs. (60/100) x 72 = Rs. 43.20 Thus, overall discount = (100 - 43.20) = 56.8% By selling a cycle for 2345, a student loses 19%. His cost price is nearly ? A) 4000 B) 5000 C) 3000 D) 3500 Correct Answer :3000 Explanation :Let cost price be X , Selling price = 2345 and loss = 19% Cost price, X = (SP * 100)/(100 - Loss%) = (2345 * 100)/(100 - 19%) X = 234500/81 = 2895 ≈ 3000 On selling an article for Rs. 240, a trader loses 4%. In order to gain 10 % he must sell that article for A) Rs. 275 B) Rs. 340 C) Rs. 320 D) Rs. 264 Correct Answer :Rs. 275 Explanation :Let the CP be Rs. x , then SP be 0.96x Then, 0.96x = 240 ⇒ x = 250 Now the new SP = 250 X 1.1 = 275