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All questions of Profit and Loss for Banking Exams Exam

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A trader gains 10% while buying the goods and gains 20% while selling the goods. Find the gain percent of the trader.
  • a)
    30
  • b)
    31
  • c)
    32
  • d)
    34
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?

Faizan Khan answered
  1. Traders gain 10% on buying means an article cost 110rs, he buy it for 100.
    Now he sell it for 20% profit means 110*(120/100) = 132. So gain% is 32.
 

Arun sells an article at 20% profit to Bala, Bala sells it to Catherine at 10% profit. Catherine sells it to Dinesh at Rs. 16 profit. The difference between the cost price of Dinesh and cost price of Arun was Rs. 500. How much did Bala pay to Arun for the article? 
  • a)
    Rs.1350
  • b)
    Rs.1815
  • c)
    Rs.1650
  • d)
    Rs.1750
  • e)
    None of these
Correct answer is option 'B'. Can you explain this answer?

Kirti Dahiya answered
"use of successive percentage" Let article cost is 100x...,, 100x -> 120x -> 132x -> (132+16) Arun. Bala. Catherine Dinesh The difference between the cost price of Dinesh and cost price of Arun was Rs. 500 So, (132x+16) - 100x = 500 X= 121/8 Bala pay to Arun for the article is 120x => 120* 121/8 => 1815

A man purchases some apples at the rate of 3 for Rs 4 and same quantity at 4 for Rs 7. If he sells all the apples at the rate of 5 for Rs 9, find his gain or loss percent?
  • a)
    17% loss
  • b)
    17% gain
  • c)
    15% loss
  • d)
    15% gain
  • e)
    None of these
Correct answer is option 'B'. Can you explain this answer?

Preeti Khanna answered
Let he buys x apples at the rate 4/3 and x apples at the rate of 7/4
so cost price  = 4x/3 + 7x/4 = 37x/12
and selling price = (9/5)*2x = 18x/5
% gain = [(37x/12 – 18x/5)/(37x/12)]*100 = 17% (approx)

Shopkeeper purchased some goods for Rs.900 and sold one-third of the goods at a loss of  what 12%, then at gain % should the remainder goods he sold to gain 18% profit on the whole transaction ?
  • a)
    31%
  • b)
    26%
  • c)
    33%
  • d)
    18%
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?

Aarav Sharma answered
Given:
- Cost price of goods = Rs. 900
- One-third of the goods sold at a loss of 12%

To find:
- The gain percentage at which the remaining goods should be sold to gain an 18% profit on the whole transaction

Solution:

Let's calculate the selling price of one-third of the goods sold at a loss of 12%.

Step 1: Calculate the selling price of one-third of the goods at a loss of 12%
- Loss percentage = 12%
- Selling price = Cost price - Loss
- Loss = (Loss percentage/100) * Cost price
- Loss = (12/100) * 900
- Loss = 108
- Selling price = 900 - 108
- Selling price = 792

Now, let's calculate the cost price of the remaining goods.

Step 2: Calculate the cost price of the remaining goods
- Cost price = Total cost price - Cost price of goods sold
- Cost price of goods sold = Selling price of goods sold at a loss
- Cost price of goods sold = 792

- Cost price = 900 - 792
- Cost price = 108

Now, let's calculate the selling price of the remaining goods to gain a 18% profit on the whole transaction.

Step 3: Calculate the selling price of the remaining goods to gain a 18% profit
- Profit percentage = 18%
- Selling price = Cost price + Profit
- Profit = (Profit percentage/100) * Cost price
- Profit = (18/100) * 108
- Profit = 19.44
- Selling price = 108 + 19.44
- Selling price = 127.44

Now, let's calculate the gain percentage.

Step 4: Calculate the gain percentage
- Gain = Selling price - Cost price
- Gain = 127.44 - 108
- Gain = 19.44

- Gain percentage = (Gain/Cost price) * 100
- Gain percentage = (19.44/108) * 100
- Gain percentage ≈ 18%

Therefore, the shopkeeper should sell the remaining goods at a gain of approximately 18% to gain an 18% profit on the whole transaction.

Answer:
The correct option is c) 33%.

A scientist mixes 10% water in his solution but he is not content with it so he again mixes 10% more water in the previous mixture. What is the profit percentage of the scientist if he sells it at cost price:
  • a)
    15%
  • b)
    21%
  • c)
    18%
  • d)
    16%
  • e)
    None of these
Correct answer is option 'B'. Can you explain this answer?

Aarav Sharma answered
Let Initial Quantity of Solution = 100 litre

After mixing 10% water, Quantity of the mixture = 110 * 110 / 100 = 121 litre

CP of One litre of Solution = Rs.1

Total CP = Rs.100

Total SP = Rs.121

Profit = 121 – 100 = 21

Profit % = 21 * 100/100 = 21%

A milkman buys some milk. If he sells it at rupees 10 a litre, he losses 800 rupees but when he sells it at 12 a litre, he gains 600 rupees. How much milk did he purchase ?
  • a)
    200 litre
  • b)
    350 litre
  • c)
    500 litre
  • d)
    700 litre
  • e)
    None of these
Correct answer is option 'D'. Can you explain this answer?

Aarav Sharma answered
Given, selling milk at Rs.10/litre results in a loss of Rs.800 and selling it at Rs.12/litre results in a profit of Rs.600.

Let's assume the milkman purchased x litres of milk.

Loss incurred when selling at Rs.10/litre = Cost price - Selling price = 0 - 800 = -800

Profit earned when selling at Rs.12/litre = Selling price - Cost price = 600 - 0 = 600

We can write two equations based on the given information:

10x - 800 = 0 (Selling at Rs.10/litre)

12x - 0 = 600 (Selling at Rs.12/litre)

Solving these equations, we get:

x = 700 litres

Therefore, the milkman purchased 700 litres of milk.

A person sold a pen at Rs. 96 in such a way that his percentage profit is same as the cost price of the watch. If he sells it at twice the percentage profit of its previous percentage profit then new selling price will be?
  • a)
    Rs.132
  • b)
    Rs.150
  • c)
    Rs.192
  • d)
    Rs.180
  • e)
    None of these
Correct answer is option 'A'. Can you explain this answer?

Aarav Sharma answered
Given, selling price of pen = Rs. 96
Let the cost price of pen be x

Profit% = (SP - CP)/CP * 100
According to the question, profit% = x

⇒ (96 - x)/x * 100 = x
⇒ 96 - x = x^2/100
⇒ x^2 + 100x - 9600 = 0
⇒ x = 80 (neglecting the negative value)

Therefore, the cost price of the pen is Rs. 80.

Now, let the new selling price be y.
Profit% = x (given)
New profit% = 2x

⇒ (y - 80)/80 * 100 = 2x
⇒ y - 80 = 160x/100
⇒ y = 80 + 1.6x
⇒ y = 80 + 1.6(80) = Rs. 132

Hence, the new selling price of the pen is Rs. 132. Therefore, option A is the correct answer.

A TV was purchased for Rs. 54000. Its price was marked up by 40%.It was sold at a discount of 20% on the marked price. What was the profit percent of the cost price?
  • a)
    10%
  • b)
    11%
  • c)
    15%
  • d)
    12%
  • e)
    None of these
Correct answer is option 'D'. Can you explain this answer?

Aarav Sharma answered
Let's break down the given information and solve the problem step by step.

Given information:
- The TV was purchased for Rs. 54000.
- The price was marked up by 40%.
- It was sold at a discount of 20% on the marked price.

Step 1: Finding the marked price
Since the price was marked up by 40%, we can find the marked price by adding 40% of the purchase price to the purchase price itself.

Marked price = Purchase price + 40% of the purchase price
= Rs. 54000 + 40% of Rs. 54000
= Rs. 54000 + (40/100) * Rs. 54000
= Rs. 54000 + (2/5) * Rs. 54000
= Rs. 54000 + Rs. 21600
= Rs. 75600

So, the marked price of the TV is Rs. 75600.

Step 2: Finding the selling price
Since the TV was sold at a discount of 20% on the marked price, we can find the selling price by deducting 20% of the marked price from the marked price itself.

Selling price = Marked price - 20% of the marked price
= Rs. 75600 - 20% of Rs. 75600
= Rs. 75600 - (20/100) * Rs. 75600
= Rs. 75600 - (1/5) * Rs. 75600
= Rs. 75600 - Rs. 15120
= Rs. 60480

So, the selling price of the TV is Rs. 60480.

Step 3: Finding the profit percentage
Profit percentage can be calculated using the formula:

Profit percentage = (Profit / Cost price) * 100

In this case, the profit is the difference between the selling price and the purchase price, and the cost price is the purchase price.

Profit = Selling price - Purchase price
= Rs. 60480 - Rs. 54000
= Rs. 6480

Profit percentage = (6480 / 54000) * 100
= (12 / 100) * 100
= 12%

Therefore, the profit percentage of the cost price is 12%.

Hence, the correct answer is option D) 12%.

Rahul sells his laptop to Ravi at a loss of 20% who subsequently sells it to Suresh at a profit of 25%. Suresh after finding some defect in the laptop, returns it to Ravi but could recover only Rs.4.50 for every Rs. 5 he had paid. Find the amount of Suresh’s loss if Rahul had paid Rs.50,000 for the laptop ?
  • a)
    Rs.6000
  • b)
    Rs.7000
  • c)
    Rs.2000
  • d)
    Rs.5000
  • e)
    None of these
Correct answer is option 'D'. Can you explain this answer?

Ravi Singh answered
Solution:

Given:
- Rahul's cost price of laptop = Rs.50,000
- Rahul sells laptop to Ravi at a loss of 20%
- Ravi sells laptop to Suresh at a profit of 25%
- Suresh returns laptop to Ravi and recovers Rs.4.50 for every Rs.5 he paid

Calculations:
1. Rahul's selling price to Ravi:
- Rahul's selling price = 80% of Rs.50,000 (20% loss)
- Rahul's selling price = Rs.40,000

2. Ravi's cost price of laptop:
- Ravi's cost price = Rs.40,000

3. Ravi's selling price to Suresh:
- Ravi's selling price = 125% of Rs.40,000 (25% profit)
- Ravi's selling price = Rs.50,000

4. Amount recovered by Suresh after returning laptop:
- Amount recovered = Rs.4.50 for every Rs.5 paid
- Amount recovered = Rs.4.50 / Rs.5 = 90% of the cost price

5. Suresh's cost price of laptop:
- Suresh's cost price = Rs.50,000

6. Suresh's loss:
- Suresh's loss = Rs.50,000 - Rs.45,000 (Amount recovered)
- Suresh's loss = Rs.5,000

Therefore, the amount of Suresh's loss is Rs.5,000. So, the correct answer is option D: Rs.5,000.0.50/5 * 50,000 = 5000

A trader mixes 25% of solution A to his Solution B and then he sells the whole mixture at the price of Solution B. If the cost price of Solution A be 50% of the cost price of Solution B, what is the net profit percentage?
  • a)
    100/3%
  • b)
    200/7%
  • c)
    100/9%
  • d)
    200/3%
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?

Preeti Khanna answered
Quantity of Solution B = 100 litre
Quantity of Solution A = 25 litre
CP of 1 litre Solution B = Rs.10
CP of 1 litre Solution A = Rs.5
CP = 100 * 10 + 25 * 5 = 1125
SP = (100 + 25)*10 = 1250
Profit = 1250 – 1125 = 125
% = 125 * 100 / 1125 = 100/9%

A boy  sells a Radio to B at a 10 % loss, B sells it to C at 25 % gain and C sells it to D at a loss of 8 %, if D pays Rs 1625 for it then how much does A pay for.
  • a)
    Rs.1620
  • b)
    Rs.1560
  • c)
    Rs.1570
  • d)
    Rs.1760
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?

Aarav Sharma answered
Given:
- A boy sells a radio to B at a 10% loss.
- B sells it to C at 25% gain.
- C sells it to D at a loss of 8%.
- D pays Rs. 1625 for it.

To find:
- The cost price of the radio for A.

Solution:

Let's assume that the cost price of the radio for A is Rs. x.

Step 1: A sells the radio to B at a 10% loss.

- A sells the radio to B at a loss of 10%.
- So, the selling price of the radio for B = x - (10% of x) = x - 0.1x = 0.9x.

Step 2: B sells the radio to C at a 25% gain.

- B sells the radio to C at a gain of 25%.
- So, the selling price of the radio for C = 0.9x + (25% of 0.9x) = 0.9x + 0.225x = 1.125x.

Step 3: C sells the radio to D at an 8% loss.

- C sells the radio to D at a loss of 8%.
- So, the selling price of the radio for D = 1.125x - (8% of 1.125x) = 1.125x - 0.09x = 1.035x.

Step 4: D pays Rs. 1625 for it.

- So, we have 1.035x = 1625.
- Solving for x, we get x = 1570.

Therefore, the cost price of the radio for A is Rs. 1570.

Hence, option (c) is the correct answer.

Chapter doubts & questions for Profit and Loss - Quantitative Aptitude for Competitive Examinations 2024 is part of Banking Exams exam preparation. The chapters have been prepared according to the Banking Exams exam syllabus. The Chapter doubts & questions, notes, tests & MCQs are made for Banking Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests here.

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