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Aptitude questions and answers on profit and loss
1. A man buys a toy for Rs. 25 and sells it for Rs. 30. Find his gain/loss percentage.
A. 20%
B. 70%
C. 80%
D. 40%
Explanation:
Profit Percentage = 30-25/25 x 100 = 5/25 x 100 = 20%.
2. Samant bought a microwave oven and paid 10 % less than the original price. He sold it with 30% profit on the price he had paid. What percentage of profit did Samant earn on the original price?
A. 17%
B. 20%
C. 27%
D. 32%
Explanation:
Let the original price=Rs.100.
Then, C.P= Rs.90.
S.P =130% of Rs. 90=Rs.(130/100×90)= Rs.117.
Required percentage= (117 - 100)%=17%.
3. A vendor bought bananas at 6 for a rupee. How many for a rupee must he sell to gain 20%?
A. 3
B. 4
C. 5
D. 6
Explanation:
Let required number =x
20=(6×1/x×1-1)100
1/5=6/x-1
6/5=6/x
x=5.
4. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find out the value of x?
A. 13
B. 14
C. 15
D. 16
Explanation:
Let the Cost Price of one article = Rs. 1
CP of x articles = Rs. x
CP of 20 articles = 20
Selling price of x articles = 20
Profit = 25%
(SP-CP/CP)=25100=14
(20-x)/x=1/4
80-4x=x
5x=80
x=80/5=16.
5. A manufacturing company employs 10 machines, the aggregate output of which for a year is Rs 42000, and pays 10% of the profit to its shareholders. The manufacturing expenses for a year are Rs.1800 per machine and the establishment charges Rs 9000 per annum. What percent of the original profit will it pay to its shareholders, if one machine breaks down and are idle for one year?
A. 7 3/10 %
B. 3 %
C. 8 2/5 %
D. 9 1/3 %
Explanation:
When all 10 machines are working, profit =42000-[9000-(1800*10)] = Rs.15000.
If one breaks down, then the aggregate output = 0.9*42000 = Rs.37800,
Manufacturing expenses = Rs 16200,
Establishment charges = Rs.9000 Therefore Total expenses = Rs. 25200,
Profit = Rs.37800- Rs.25200 = Rs. 12600
The profit paid to shareholder is 10% of Rs 12600 = 1260
Required percentage = 1260*100/15000 = 8 2/5 %.
6. If a man reduces the selling price of a fan from Rs.400 to Rs.380, his loss increases by 2%. The cost price of the fan is
A. Rs. 480
B. Rs. 500
C. Rs. 600
D. Rs. 1000
Explanation:
Let C.P be Rs.x
Then, 2% of x=(400 - 380)
=20
x/50 = 20
x=1000.
7. John buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, what is his gain percent?
A. 12%
B. 10%
C. 4 4/7%
D. 5 5/11%
Explanation:
cost price =4700+800=5500
selling price =5800
gain =5800-5500=300
gain percent =(300×100)/5500 =60/11%=5 5/11%.
8. If the selling price is doubled the profit triples. Find the profit percent.
A. 66 2/3
B. 105
C. 105 1/3
D. 120
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)*100]% = 100%.
9. A shopkeeper fixes the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is
A. 20%
B. 27%
C. 31%
D. 43%
Explanation:
Let C.P=Rs.100
Then, marked price=Rs.135,
S.P=Rs.108.
Discount %=(27/135×100)% = 20%.
10. The owner of an electronics shop charges his customer 22% more than the cost price. If a customer paid Rs 10,980 for a DVD player, then what was the cost price of the DVD player?
A. Rs 8000
B. Rs 8800
C. Rs 9500
D. Rs 9000
Explanation:
CP of DVD player = Rs x
According to the question,
= x(1+22/100)
= Rs 10980
x = 10980 × 50/61 = Rs 9000.
11. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find the value of x?
A. 15
B. 25
C. 18
D. 16
Explanation:
25=(20-x)100/x
x=4(20-x)
5x=80
x=16.
12. A shopkeeper buys a TV at Rs.42000 and sells it at Rs.45000.What is his profit or loss?
A. RS.2500
B. Rs.3000
C. Rs.4500
D. RS.2000
Explanation:
C.P = Rs.42000 S.P = Rs.45000 As S.P > C.P So he makes profit profit = S.P - C.P = Rs.3000.
13. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:
A. 4 4/7%
B. 5 5/11%
C. 10%
D. 12%
Explanation:
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.
Selling Price (S.P.) = Rs. 5800.
Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.
Gain % =300/5500x 100%= 5 5/11%.
14. Find profit or loss: C.P = Rs.870 and S.P = Rs.770
A. RS.180
B. Rs.150
C. Rs.120
D. Rs.100
Explanation :
C.P = RS.870 , S.P = Rs.770 As, C.P > S.P it means loss. Loss = C.P - S.P = Rs.100.
15. A dealer buys a product at Rs. 1920, he sells at a discount of 20% still he gets the profit of 20 %. What is the selling price of that product?
A. Rs.1159
B. Rs.1550
C. Rs.2304
D. Rs.1785
Explanation:
CP ——– SP ———-MP
100—-(20% profit)—-120——-(20% discount) ——150
=> SP = 1.2CP = 2304