# Quant Questions – Profit and Loss Problems Set-1

Dear Readers, Important Practice Aptitude Questions for Upcoming Exams was given here with Solutions. Aspirants those who are preparing for the examination can use this.
1).If A saves Rs 220 by getting a discount of 8.33% then find the amount paid by him?
a)ย ย Rs 2000
b)ย ย Rs 2200
c)ย ย Rs 2420
d)ย ย Rs 2500
2).Three friends A, B& C went to the market to buy a saree at 3 different stores. A went to Kala Mandhir which was offering two successive discounts of 10% and 40%, B went to Kala Sangam, which was offering two successive discounts of 20% and 30%, C went Kala Niketan, which was offering two successive discounts of 24% and 26%. Out of the three friends, who got the least discount, if the Marked Price of all the three sarees, was the same?
a)ย ย A
b)ย ย B
c)ย ย C
d)ย ย B&C
3).A readymade garment store marks up his merchandise in such a way that a profit of 16% is earned even after giving a discount of 6% to the customer. If a customer is wrongly given a discount of 10% instead of 6%, then what is the profit % in this car ?
a)ย ย 15.67%
b)ย ย 12.76%
c)ย ย 14.76%
d)ย ย Cannot be determined
4).A dishonest trader gives only 900 gm for 1 kg. Although he claims to be selling at a profit of x% above cost Price, his actual Profit (Owing to faulty measure) is 30%. What is the value of x?
a)ย ย 15
b)ย ย 17
c)ย ย 21
d)ย ย 14
5).A sold a cycle to B at a profit of 16.67%, B sold it to C, at a loss of 7.14%. C spent 5% of his cost price on spare parts and further sold it to A at a Profit of 10%. Find the loss incurred by A (in Rs).
a)ย ย 50.75
b)ย ย 150.75
c)ย ย 100.5
d)ย ย 120.75
6).Two friends A& B invest in two different schemes of XYZ mutual funds in the ratio of 3 : 2. The ratio of % return on a& Bโs investment is 4 : 3. What are the combined earning of A& B taken together if A earns more than B by Rs 300?
a)ย ย Rs 1200
b)ย ย Rs 900
c)ย ย Rs 500
d)ย ย Rs 600
7).Kajol had the exact amount of money required to buy a packet of sweets. However, after bargaining she got a discount of 10% from which she bought a chocolate for Rani worth Rs 8. Find the amount of money paid by Kajol for the packet of sweets.
a)ย ย Rs 80
b)ย ย Rs 70
c)ย ย Rs 75
d)ย ย None of these
8).โTrue Valueโ a shop for second hand cars bought a cars for Rs 1,00,000 each. They spent a total of Rs 1,25,000 on repair of all the three cars and then sold them to 3 different customers. If one of the cars was sold for Rs.1,45,000 and it is known that a total profit of 40%? Was made on all the 3 cars, then find price at which the other 2 cars were sold if both the remaining cars were sold for same price.
a)ย ย Rs 2,25,000
b)ย ย Rs 1,45,000
c)ย ย Rs 3,05,000
d)ย ย Rs 1,55,000
9).A dishonest trader cheats while buying from wholesaler and also while selling to a customer. While he takes 1200gm per kg from wholesaler, he gives 900gm per kg to the customer. Also it is known that his mark up % and discount % is 60% and 10% respectively. Find his actual profit.
a)ย ย 72%
b)ย ย 85%
c)ย ย 92%
d)ย ย 100%
10).When a shopkeeper sells 20 pencils, he makes a profit equivalent to selling price of 6 erasers. However, when he sells 20 erasers, he incurs a loss equivalent to selling price of 8 pencils. Also it is known that % profit is twice % of loss and ratio of cost price of pencil : Eraser is 3 : 2. Find the ratio of selling price of pencil to that of Eraser.
a)ย ย 3 : 2
b)ย ย 4 : 3
c)ย ย 4 : 1
d)ย ย None of these
1). c)ย  2). c)ย  3). c)ย  4). b)ย  5). a)ย  6). b)ย  7). d)ย  8). a)ย  9). c)ย  10). d)
Detailed Explanation:
ย
1.We Know 8.33% = (1 /12), so, (1/12) MP = 220
MP = 220 ร 12 = 2640 and S.P =2640 โ 220 = Rs 2420
ย
2.Letย  M.P of each of the saree = Rs 100
A paid 100 ร (90 / 100) ร (60 / 100) = Rs 54
B paid 100 ร(80 / 100) ร (70 / 100) = Rs 56
C paid 100 ร (76 / 100) ร (74 / 100) = Rs 56.2
C paid the most and hence got the least discount.
ย
3.To find the mark up %, use [ a + b +(ab/100)]
Formula,
16 = a โ 6 +[(a)(-6) /100]
22= [a โ (6a / 100)] โพ 22 = [94/100] aย  and a=(2200 / 94) = 23.4 %
Let C. P = 100, MP = 123.4.
S.P =123.4 ร (90 / 100) = 114.76
Profit % = 14. 76%
ย
4.Letย  CP/gm = Rs.1
Actual CP is for 900gm = Rs 900
CP for 1 kg = Rs 1000, above which he claims to be selling at a profit of x%.
SP for 1 kg = Rs 1000 +[x / 100 (1000)]= 1000 + 10x
Actual Profit % = [SP โ Actual CPย  / Actual CP ] ร 100
30 =[ [(1000 + 10x) – 900] / 900 ] ร 100
30 ร 9 = 100 + 10x โพx = 17%
ย
5.16.67 % = (1 / 6) , 7.14 % = (1 / 14)
Let CP of A = 600, then he sold to B for Rs 700, B sold it to C for Rs 650, amount spent by C = [(5 / 100) ร 650] = 32.5
CP for C = 650 + 32.5 = 682.5 and he sells to A at profit of 10%
i.e., SP =682.5 ร (110 /100) = 750.75
loss incurred by A = 750.75 โ 700 = Rs. 50.75
ย
6.Let investment of A& B = 3x and 2x& their percentage return = 4y% and 3y% then
[(4y / 100) ร 3x] โ 300 = (3y /100) ร 2x
(12 / 100) xy โ 300 = (6 / 100)xy
(6 / 100)xy = 300. Their combined earnings is (18 / 100)xy which is equal toRs 900.
ย
7.10% of MP = 8, MP of sweets packet = 80, and amount she paid = 80 โ 8 = Rs.72.
ย
8.Total C.P on 3 cars = 1,00,000 ร 3 + 1,25,000 = 4,25,000.
Total profit = (40/100)ร425000=170000
Total S.P = 595000 out of which one of the car is sold for RS.145000
S.P for remaining two = 4,50,000
Price per car = (4,50,000/ 2)= Rs 2,25,000
ย
9.Actual CPย  ๏ฟซ Letย  C.P of trader be Rs 1 / gram, he pays Rs 1000 for 1200 gm, hence his actual C.P.= (10 / 12) per gm, for 900 gm = (10 / 12) ร 900
Actual SPย ย  ๏ฟซ [He is charging according to 1000 gm]
C.P of 1000gm = Rs 1000, MP = 16000
S.P = 1600 โ 10% = 1440
Actual Profit % = {[1440 โ (9000 / 12) ] / [9000 / 12]} ร 100
= (8280 / 12) ร (12 / 9000) ร 100
=92%
ย
10.Ratio is 1: 4
Pencilย ย ย ย ย ย ย ย  Eraser
S.P. / Unitย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย  Xย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย a
C.P./ย  Unitย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย Yย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย ย  b
When 20 pencils are sold ๏ฟซ 20 x โ 20 y = 6 a
i.e., 20 (x – y) = 6a
When 20 erasers are sold ๏ฟซ 20 b โ 20 a= 8x
i.e., 20 (b – a) =ย  8x
Also % Profit = (6a / 20y)ร 100 and % loss = (8x / 20b) ร 100
Now (6a / 20y) = 2 (8x/ 20b)ร  3a / y = 8x / b โฆโฆ(i)
Also y : b = 3 : 2ร  (y / b) = (3 /2) or 2y = 3b, Putting in (i)
We get, 3a / (3/2)b = 8x / bร  2a = 8x and (a / x)ย  = (8/ 2)
i.e.,ย  x : a = 1:4