Quant Questions – Profit and Loss Problems Set-12

Dear Readers, Important Practice Aptitude Questions for IBPS Exams was given here with Solutions. Aspirants those who are preparing for the Bank Examination and other Competitive Examination can use this material.

1). A man lost 20% by selling an article for Rs. 6800. What is the gain or loss percent, if he sells it for Rs.8160?

  1. 6% loss
  2. 6% gain
  3. 4% loss
  4. 4% gain
  5. None of these

2). A product is sold for a profit of 15%. If it had been sold for Rs.25 more, then would have been a gain of 20%. What is the cost price of the product?

  1. 600
  2. 500
  3. 575
  4. Cannot be determined
  5. None of these

3). A dishonest dealer sells his goods at 20% profit. But still he uses a weight of 900 gram instead of 1 kg. What is the overall profit percentage?

  1. 11 1/9%
  2. 50%
  3. 20%
  4. 33 1/3%
  5. None of these

4). The profit earned by selling an article for Rs.2160 is the same as the loss incurred by selling the article for Rs.1440. At what price should it be sold to make a 40% profit?

  1. 3600
  2. 2520
  3. 2720
  4. Cannot be determined
  5. None of these

5). A product sold for a loss of 10%. If he had been sold at a gain of 15%, it would have been sold for Rs.1250 more. What is the cost price of a product?

  1. 5000
  2. 4500
  3. 5750
  4. Cannot be determined
  5. None of these

6). Kathir bought oranges at the rate of 12 for Rs.51 and sold them at the rate of 8 for Rs.38. How many oranges should be sold to earn a net profit of Rs. 50?

  1. 25
  2. 75
  3. 50
  4. 100
  5. None of these

7). If the cost price of 20 pens is equal to the selling price of 15 pens, what is the profit percent?

  1. 25%
  2. 75%
  3. 33 1/3%
  4. 37 1/3%
  5. None of these

8). At what price should a shopkeeper mark a fan that cost him Rs.1200 in order that he may offer a discount of 20% on the marked price and still have a profit of 25%?

  1. 1875
  2. 1740
  3. 2160
  4. Data inadequate
  5. None of these

9). A sold a wardrobe to B at a profit of 20% and B sold the same wardrobe to C at a profit of 40%. If C bought it for Rs.12180, how much did A pay for it?

  1. 10000
  2. 7250
  3. 8700
  4. 6500
  5. None of these

10). A person sold two articles for Rs.1500 each; he made a profit of 20% and a loss of 20% on the other. What will be the overall profit or loss in percentage?

  1. 4% profit
  2. 4% loss
  3. 5% loss
  4. 5% profit
  5. No loss no profit

Answers with Explanation:

1). Answer: c)

20% loss = 80% of cost price

If, 80% of cost price = 6800

Then, X% of cost price = 8160

∴ X% = 80 × 8160 / 6800 = 96%

Hence, the loss = 100 – 96 = 4%

2). Answer: b)

Let the selling price of the product be x,

115% of cost price = x

120% of cost price = x+25

∴ (x+25) × 115 = x × 120

5x = 115 × 25

∴ x = 575

Hence, the cost price of the product (C.P) = 100%

115% of cost price = 575

∴ C.P = 100 × 575/ 115 = 500

3). Answer: d)

The 20% profit of cost price = 120

∴ the selling price of goods = 120

Cost price (900 gram) = 900 /1000 × 100 = 90

Hence, the overall profit = (120 – 90)/90 × 100 = 30 /90 × 100 = 33 1/3%

4). Answer: b)

The cost price = (2160 + 1440) / 2 = 3600/2 = 1800

40% profit of cost price = 140 × 1800 /100 = 2520

5). Answer: a)

Selling price (S.P1) = 90% of cost price

Selling price (S.P2) = 115% of cost price

Let the selling price of the product be x,

90% of cost price = x

115% of cost price = x+1250

90 × (x+1250) = x × 115

1250 × 90 = 115x – 90x

25x =1250 × 90

∴ x = 4500

Hence, the cost price = 4500 × 100 /90 = 5000

6). Answer: d)

12 oranges bought for Rs. 51

∴ cost price of 1 orange = 51/12 = 4.25

8 oranges sold for Rs. 38

∴ selling price of 1 orange = 38/8 = 4.75

Hence, the profit = 4.75 – 4.25 = 0.5

Profit of 1 orange = 0.5

Profit of x oranges = 50

∴ x = 50 /0.5 = 100

Hence, 100 oranges are sold to get a profit of Rs.50

7). Answer: c)

The profit% = (20-15)/15 × 100

= 5/15 × 100 = 33 1/3%

8). Answer: a)

20% discount = 80% of marked price = 1200

25% profit on marked price, 125%= x

∴ x = 1200 × 125 / 80 = 1875

9). Answer: b)

Rs.12180 = 140% profit of B

∴ cost price of B = 12180 × 100 / 140 = 8700

Rs.8700 = 120% of A

∴ cost price of A = 8700 × 100 / 120 = 7250

Hence, A paid for a wardrobe is Rs.7250

10). Answer: b)

The selling price of article1 = 120% of cost price = 1500

∴ cost price of article1 = 1500 × 100 / 120 = 1250

The selling price of article2 = 80% of cost price = 1500

∴ cost price of article2 = 1500 × 100 / 80 = 1875

The overall cost price = 1250 + 1875 = 3125

The overall selling price = 1500 + 1500 = 3000

∴ the overall loss = (Cost price – Selling price)/Cost price × 100

= (3125 – 3000)/3125 × 100 = 125/3125 × 100 = 4%

Hence, overall loss = 4%

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