Profit and Loss Aptitude Questions and Answers

Profit and Loss Aptitude Questions and Answer with details explanation. 

Profit and Loss Important Formula and Tricks

1. A man purchase a mobile for Rs. 2500 and sells it for Rs. 3000. Calculate the gain percentage?

A. 35%
Incorrect Answer
B. 25%
Incorrect Answer  
C. 20%
Correct Answer
D. 15%
Incorrect Answer
View Answer

Explanation:

Cost Price = Rs. 2500

Selling Price = Rs. 3000

Gain Percentage - Profit and Loss

 

 

=(500×100)/2500

=20%

Therefore, the profit percentage is 20%

2. A boy bought a toy for Rs. 600 and later he sold it for Rs. 400. What is the Loss and calculate loss percentage?

A. 45%
Incorrect Answer
B. 20%
Incorrect Answer
C. 30%
Incorrect Answer
D. 33%
Correct Answer
View Answer

Explanation: 

Cost Price = Rs. 600

Selling Price = Rs. 400

Loss = CP – SP

Loss = 600 – 400 = Rs. 200

Loss Percentage - Profit and Loss

 

 

Loss% = (200*100)/600

=> 33.33%

Therefore, the loss is Rs. 200 and loss percentage is 33.33%

3. A product is sold for Rs. 27, there is loss of 10%. Find the cost of the product?

A. Rs. 30
Correct Answer
B. Rs. 29
Incorrect Answer
C. Rs. 25
Incorrect Answer
D. Rs. 35
Incorrect Answer
View Answer

Explanation:

Selling Price = Rs. 27

Loss % = 10%

Cost Price = ?

Cost Price Loss - Profit and Loss

 

 

C.P. = [100*(100-90)] * 27

=> (100*90)*27 =Rs.  30

Hence, the cost of the product is Rs. 30

 4. Gopal purchase 10 dozens of apple for Rs. 144 per dozen. Gopal sold each apple for Rs. 15. What is the profit percentage?

A. 20%
Incorrect Answer
B. 22%
Incorrect Answer
C. 25%
Correct Answer 
D. 28%
Incorrect Answer
View Answer

Cost price per dozen of apple = Rs. 144

Sell price of Apple per dozen= 12*15 = 180

Gain or Profit = SP – CP = 180 – 144 = 36

Gain Percentage - Profit and Loss

 

 

=> (36 x 100) / 144 = 25%

Hence the profit percentage is 25%

5. A milkman sells 5 liters of milk for Rs. 60 at profit of Rs. 2 per liter of milk. Find the cost price for per liter of milk?

A. Rs. 11
Incorrect Answer
B. Rs. 10
Correct Answer 
C. s. 12
Incorrect Answer
D. Rs. 9
Incorrect Answer
View Answer

Explanation:

Profit for 5 liters of Milk = 60*2 =Rs.  120

Cost Price of 5 liters of Milk = 60 – 10 = Rs. 50

1 liter of Milk = 50/5= Rs. 10

Therefore, the cost price of 1 liter of milk is Rs. 10

 6. Arun sells potato at the rate of Rs. 30 per kg and he loses 25%. At what price per kg should he sell to gain profit of 10% per kg of potato?

A. Rs. 35
Incorrect Answer
B. Rs. 44
Correct Answer
C. Rs. 50
Incorrect Answer
D. Rs. 38
Incorrect Answer
View Answer

Explanation: 

Selling price = Rs. 30 per kg of Potato

Loss = 25%

Cost Price Loss - Profit and Loss

 

 

CP = [100 / (100 – 25)] x 30 = Rs. 40

Cost Price of potato per kg is Rs. 40

To gain 10% of profit, the n Selling Price will be.

Selling Price - Profit and Loss

 

 

Selling Price = 40 x (110 / 100) = 44

Hence, Arun should sells at Rs. 44 per kg of potato to gain profit of 10%

7. Pankaj sells Rice for Rs. 50 per kg and losses 10%. If Arun wants to gain 5% profit per kg, what should be the price per kg of rice?

A. Rs. 55.55
Incorrect Answer
B. Rs. 58
Incorrect Answer
C. Rs. 58.32
Correct Answer
D. Rs. 55
Incorrect Answer
View Answer

Selling price = Rs. 50 per kg of rice

Loss = 10%

Cost Price Loss - Profit and Loss

 

 

=> [100 x (100-10)] x 50 = 55.55

Cost price = 55.55

To gain profit of 5% per kg of rice, selling price should be

Selling Price - Profit and Loss

 

 

SP = 55.55 x (105/100)

Selling price = 58.32

Therefore, Pankaj should sell rice for Rs. 58.32 per kg to gain a profit of 5%.

8. A pen is sold for Rs. 120 with profit of 20%. If he sells it for Rs. 150, what could have been the profit percentage?

A. Rs. 30
Incorrect Answer
B. Rs. 40
Incorrect Answer
C. Rs. 45
Incorrect Answer
D. Rs. 50
Correct Answer
View Answer

Explanation:

Selling price = Rs. 120

Profit = 20%

Cost Price Gain - Profit and Loss

 

 

 

Cost Price = 120 x (100 x 120) = 100

CP = 100 and New SP = 150

Profit = 150 – 100 = 50

Profit Percentage :

Gain Percentage - Profit and Loss

 

 

=> (50 x 100) / 100 = 50%

Hence, if a pen is sold at Rs. 150, then is 50% profit.

9. Govind sells his watch for Rs. 35 and losses one tenth of what it cost him. The cost price of the watch is?

A.Rs. 40
Incorrect Answer
B. Rs. 38.88
Correct Answer
C. Rs. 39.21
Incorrect Answer
D. Rs. 36
Incorrect Answer
View Answer

Explanation:

Let the Cost Price be x and Loss be x/10

According to question

x – x/10 = 35

10x- x = 350

x = 38.88

Therefore, the cost price of the watch is Rs. 38.88

10. A man sells his bike for Rs. 36000 and loses one thirteenth of what cost him the bike. The cost price of the cost?

A. Rs. 39000
Correct Answer
B. Rs. 38000
Incorrect Answer
C. Rs. 38500
Incorrect Answer
D. Rs. 39500
Incorrect Answer
View Answer

Explanation:

Cost Price be x and Loss be x/13

According to the question

x – x/13 = 36000

13x – x = 36000 x 13

12x = 36000 x 13

x = 39000

Hence, the cost price of the bike is Rs. 39000.