Profit and Loss- Aptitude Questions and Answers

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Two third of a consignment was sold at a profit of 5% and the remainder at a loss of 2%.If the total profit was Rs 400, then the value of the consignment was?

A)

Rs 15000


B)

Rs 15500


C)

Rs 16000


D)

Rs 16500



Correct Answer :

Rs 15000


Explanation :

let the total value be Rs x
value of 2/3=2x/3, value of 1/3=x/3
Total SP value be Rs x
Total SP=(105% of 2x/3)+(98% of x/3)
=(105*2x)/(100*3) + (98*x/100*3)
=308x/300

Now, (308x/300)-x=400
8x/300=400
x=(300*400)/8 =Rs 15000

Kunal bought a suitcase with 15% discount on the labelled price. He sold the suitcase for Rs 2880 with 20% profit on the labelled price .At what price did he buy the suitcase?

A)

Rs 2040


B)

Rs 2400


C)

Rs 2600


D)

Rs 2640



Correct Answer :

Rs 2040


Explanation :

let the labelled price be Rs x
then 120% of x=2880
x=(2880*100)/120=Rs 2400

CP=85% of the 2400
=(85*2400)/100
=Rs 2040

A tradesman gives 4% discount on the marked price and gives an article free for buying every 15 articles and thus gains 35%.The marked price is above the cost price by?

A)

20.00%


B)

39.00%


C)

40.00%


D)

50.00%



Correct Answer :

50.00%


Explanation :

Let the CP of each article be Rs 100

then CP of 16 articles=Rs (100*16)=Rs 1600
SP of 15 articles =1600*(135/100)=Rs 2160
SP of each article =2160/15=Rs 144

If SP is Rs 96, marked price =Rs 100
If SP is Rs 144,marked price =(100/96)*144= Rs 150
therefore marked price=(150-100) = 50% above CP

The price of a jewel, passing through three hands, rises on the whole by 65%.if the first and second sellers earned 20% and 25% profit respectively, find the percentage profit earned by the third seller?

A)

20%


B)

15%


C)

10%


D)

5%



Correct Answer :

10%


Explanation :

let the original price of the jewel be Rs P
and the profit earned by the third seller be x%
then
(100+x)% of 125% of 120% of P = 165% of P
[(100+x)/100]*(125/100)*(120/100)*P=(165/100)*P
100+x=(165*100*100)/(125*120)
100+x=110
x=10%

When a producer allows 36% commission on the retail price of his product, he earns a profit of 8.8%. What would be his profit percent if the commission is reduced by 24%?

A)

50.6%


B)

60.5%


C)

49.6%


D)

38.8%



Correct Answer :

49.6%


Explanation :

let retail price =Rs 100 ,and commission=Rs 36
SP=100-36=64
But,profit=8.8%
CP=(100*SP)/(gain+100)=(100*64)/(100+8.8)=1000/17

new commission, (36-12)=Rs 12 then
new SP=100-12=88

Gain=88-(1000/17)=496/17
Gain%=Gain*100/CP
=(496/17)*100 / (1000/17)
=(496/17)*100*(17/1000)
=(496*100*17)/(17*1000)
=49.6%

A man buys an article for Rs 27.50 and sells it for Rs 28.60. Find the gain percent?

A)

1%


B)

2%


C)

3%


D)

4%



Correct Answer :

4%


Explanation :

C.P=Rs 27.50
S.P=Rs 28.60
then
Gain=S.P-C.P=28.60-27.50
=Rs 1.10

Gain%=(Gain*100)/C.P%
=(1.10*100)/27.50 =4%

If a radio is purchased for Rs 490 and sold for Rs 465.50. Find the loss%?

A)

4%


B)

4.25%


C)

4.5%


D)

5%



Correct Answer :

5%


Explanation :

C.P=Rs 490
S.P=Rs 465.50
Loss=C.P-S.P=490-465.50=Rs 24.50
Loss%=(loss*100)/C.P%
=(24.50*100)/490=5%

Find S.P when C.P=Rs 56.25 and Gain=20%?

A)

Rs 47.25


B)

Rs 67.50


C)

Rs 51.5


D)

Rs 35



Correct Answer :

Rs 67.50


Explanation :

S.P=[(100+gain%)/100]*C.P
S.P=[(100+20)/100]*56.25
=Rs 67.50

Find S.P when C.P=Rs 80.40, loss=5%?

A)

Rs 68.34


B)

Rs 58.3


C)

Rs 48.44


D)

Rs 39



Correct Answer :

Rs 68.34


Explanation :

S.P=[(100-loss%)/100]*C.P
S.P=[(100-5)/100]*80.40
=Rs 68.34

Find C.P when S.P=Rs 40.60, Gain=16%?

A)

Rs 35


B)

Rs 50


C)

Rs 75


D)

Rs 89



Correct Answer :

Rs 35


Explanation :

C.P=(100*S.P)/(100+gain%)
C.P=(100*40.60)/(100+16)=Rs 35

Find C.P when S.P=Rs 51.70 ,Loss=12%?

A)

Rs 58.75


B)

Rs 62.25


C)

Rs 65


D)

Rs 69.27



Correct Answer :

Rs 58.75


Explanation :

C.P=(100*S.P)/(100-loss%)
C.P=(100*51.70)/(100-12)=Rs 58.75

A person incurs 5% loss by selling a watch for Rs 1140 . At what price should the watch be sold to earn 5% profit?

A)

Rs 1200


B)

Rs 1230


C)

Rs 1260


D)

Rs 1290



Correct Answer :

Rs 1260


Explanation :

Let the new S.P be Rs x then,
(100-loss%):(1st S.P)=(100+gain%):(2nd S.P)
(100-5)/1140=(100+5)/x
x=(105*1140)/95=Rs 1260

If the cost price is 96% of the selling price,then what is the profit percent?

A)

3.13%


B)

5.26%


C)

4.17%


D)

5.89%



Correct Answer :

4.17%


Explanation :

let S.P=Rs 100
then C.P=Rs 96
profit=S.P-C.P=100-96=Rs 4
profit%=(profit*C.P)/100%
=(4*96)/100=4.17%

A discount dealer professes to sell his goods at cost price but uses a weight of 960 gms for a Kg weight .Find his gain %?

A)

5/6%


B)

13/2%


C)

21/2%


D)

25/6%



Correct Answer :

25/6%


Explanation :

Gain%=[(error*100)/(true value-error)]%
=[(40*100)/1000-40)]%=25/6%

A man sold two flats for Rs 675,958 each .On one he gains 16% while on the other he loses 16%.How much does he gain or lose in the whole transaction?

A)

2.56% Loss


B)

2.65% Loss


C)

2.65% Gain


D)

2.56% Gain



Correct Answer :

2.56% Loss


Explanation :

Remember : In such a case , there is always a loss .
Loss%=[common loss or gain%/10]2
=(16/10)2=2.56%

A man sold two cows at Rs 1995 each. On one he lost 10% and on the other he gained 10%. What his gain or loss percent?

A)

4% Loss


B)

3% Loss


C)

2% Gain


D)

1% Gain



Correct Answer :

1% Loss


Explanation :

Remember : In such a case , there is always a loss .
Loss%=[common loss or gain%/10]2
=(10/10)2=1%

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