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Arithmetic Aptitude :: Profit and Loss

Home > Arithmetic Aptitude > Profit and Loss > General Questions

1. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

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Answer: Option C

Explanation:

C.P. of 6 toffees = Re. 1

S.P. of 6 toffees = 120% of Re. 1 = Rs. (120/100 ) = Rs. 6/5
so toffees in Re 1 = 6 * 5/6 = 5

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2. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

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Answer: Option D

Explanation:

(C.P. of 17 balls) - (S.P. of 17 balls) = (C.P. of 5 balls)

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3. Find S.P, when (1) C.P. = Rs. 56.25, Gain = 20% (2) C.P. = Rs. 80.40, Loss = 15%

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Answer: Option A

Explanation:

(1) S.P = 120 of Rs. 56.25
= Rs. (120/100 * 56.25) = Rs. 67.50
(2) S.P. = 85% of Rs. 80.40
= Rs. (85/100 *80.40) = Rs. 68.34

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4. Find C.P, when
(1) S.P. = Rs. 40.60, Gain = 16% (2) S.P. = Rs. 51.70, Loss = 12%

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Answer: Option B

Explanation:

(1) C.P = Rs. (100/116 ) * 40.60 = Rs. 35
(2) C.P. = Rs. (100/88 )*51.70 = Rs. 58.75

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5. A cycle is bought for Rs.900 and sold for Rs.1080, find the gain percent?

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Answer: Option B

Explanation:

SP = Rs. 1080 and CP = Rs. 900
profit = Rs. (1080 - 900) = Rs. 180
Gain% = (180/900) * 100 % = 20%

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6. A shopkeeper loses 15%,if an article is sold for Rs. 102. What should be the selling price of the article to gain 20%?

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Answer: Option B

Explanation:

Given that SP = Rs. 102 and loss = 15%
CP = (100(SP))/(100 - 15%) = (100 * 102)/85
= Rs. 120
To get 20% profit, New SP = [(100 + p%)CP]/100 = (120 * 120)/100 = Rs. 144

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7. Two Chairs and one Dining Table cost Rs. 700 and 1 Chair and 2 Dining Tables cost Rs. 800. If the cost of M Chairs and M Dining Tables is Rs. 30,000, then what is the value of M ?

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Answer: Option C

Explanation:

Let's assume the cost of a chair = Rs. x
And the cost of a Dining Table = Rs. y
so as per question
2x + y = 700 ..... (1) Multiply by 2
x + 2y = 800 ..... (2)
then
4x + 2y = 1400 ..... (3)
x + 2y = 800 ..... (4)
Get the value of x and y by solving equation (3) & (4)
x = 200 & y = 300
Cost of M chairs and M Dining Tables
=> M(x + y) = 30,000 <
=> M * 500 = 30,000
=> M = 60

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8. A person sold an article for Rs. 3,600 and got a profit of 20%. If he sold the article for Rs. 3,150, Then how much profit he will make ?

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Answer: Option D

Explanation:

SP = Rs. 3,600. P% = 20%
Directly use Calculating Cost price from Selling Price formula:
------------------------------------------------------
In Profit case:
Cost Price = SP/(100+Profit)%
In Loss Case:
Cost Price = SP/(100?Loss)%
------------------------------------------------------
Here he make profit of 20%
Cost Price = 3600/(100 + 20)% = (100 * 3600)/120 = Rs. 3,000
He sold the article for Rs. 3,150.
So Cost Price = Rs. 3000 and Sell Price = Rs. 3,150,
=> profit = Rs. 3150 - 3000 = Rs. 150
Formula Used: Profit% = (profit/CP)*100
Therefore Profit % = (150/3000) * 100% = 5%

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9. Two lots of Mango with equal quantity, one costing Rs. 10 per kg and the other costing Rs. 15 per kg, are mixed together and whole lot is sold at Rs. 15 per kg. What is the profit or loss?

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Answer: Option C

Explanation:

Cost Price of 1 kg mango @ Rs. 10 per kg
and Cost of 1 kg Mango @ Rs. 15 per kg = 10 + 15 = Rs. 25 (Cost Price for 2 Kg)
Selling Price for 2 kg = 2 x Rs. 15 = Rs. 30
Here CP < SP
So Profit = (Rs. 30 - Rs. 25) = Rs. 5
Formula Used: Profit% = (profit/CP)*100
Profit % = (5/25) * 100% = 20%

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10. A merchant earns a profit of 20% by selling a basket containing 80 Guava which cost Rs. 240. But he gives one-fourth of it to his friend at cost price and sells the remaining Guava. In order to earn the same profit, at what price he should he sell each Guava?

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Answer: Option C

Explanation:

Making 20% Profit by selling Guava basket of Rs. 240
=> Profit = 240 x 20/100 = Rs. 48
He gives 80 x 1/4 Guava to Friend
=> 20 Guava @ cost price to a friend => Remaining apple = (80 - 60) = 60
=> He has to make a profit of Rs. 48 by selling 60 Guava.
? A profit of Rs. 48/60 = Rs. 0.80 per Guava
Cost Price for each Guava = 240/80 = Rs. 3
? SP of each Guava = (CP + Profit) = (Rs. 3 + Rs. 0.80) = Rs. 3.80

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