Profit and loss aptitude questions and answers

Profit and Loss-Aptitude Questions and Answers

1. Cost price = Rs.60 Gain =35% what is Selling price ?

Ans :- 81 Explanations:SP = 135% of 60 = (135/100*60) = 81. Formulae: SP= ((100+gain%)/100)CP

2) If suresh buys two sheeps at Rs.1500 each and sells one at a gain of 15% and another at a loss of 15%.

How much does he gain or loss in the whole transaction ?

Ans:- No loss No gain Explanation:What ever he gain on the 1st sheep,the same he loss on the other sheep.

3) 20% loss on selling price is what percent loss on the cost price ?

Ans :- 16 2/3 % Explanation :Let SP = 100 , loss =20 , CP= 100+20 = 120 , loss% = 20/120*100 = 50/3 = 16 2/3

4) If the cost price is 75% of the selling price ,then what is the profit %age ?

Ans:- 33.33 Explanation :Let SP=100 , CP = 75, PROFIT = 25. Profit %= 25/75*100 =100/3 = 33.33

5) A cloth merchant man says that due rainy in the market ,he sells the cloth at 20% loss, but he uses a false metre scale and actually gain 25%.Find the actual lenth of the scale ?

Ans:- 64 Explanation :True scale /false scale =(100+gain%) / (100 - loss%).

100/false scale = (100+25) / (100 - 20). false scale = 100 * 80 /125 = 64.

6) A cycle was purchased for Rs.1800 and sold for Rs.1300.Find loss or profit ?

Ans:- loss Explanation :Cost price of an cycle = Rs.1800 , selling price = 1300 Since SP < CP , there is a Loss . gain = CP -SP =1800 - 1300 = 500., So Loss

7) A dealer professes to sell his goods at cost price , but he uses a weight of 850g for the kg weight.Find his gain percent ?

Ans :- 17 11/17 Explanation :Error = 1kg - 850g = 1000g - 850g = 150g Therefore , Gain% = 150 / 850 * 100. = 17 11/17.

8) A fruit seller sells two apples at Rs.10 each on one he gain 30% and on the other he lost 30%.What is his overall gain or loss in percentage ?

Ans:- 9 Explanation :Two articles sold at same price, making a profit of a% on one and a loss of b% on the other ,there is loss occurs on the whole transaction. loss% = a²/100.

So, (30)²/100 = 900/100 = 9%.

Loss% = 9%

9) A man bought a buffelow and a carriage for Rs.3000,he sold the buffelow at a gain of 20% and the carriage at a loss 10% thereby gaining 2% on the whole .Find the cost of buffelow ?

Ans:- 1200 Explanation :Let the cost price of buffelow =Rs.x Then the cost price of carriage =Rs. (3000 -x) 20% of x - 10% of (3000 - x) = 2% of 3000 ==>x/5 - (3000 - x)/10 =60 ==> 2x - 3000+x = 600 ==> 3x = 3600 -----> x = 1200.

10) A man buy a cycle for Rs.1600 and sells it at a loss 20%.what is selling price ?

Ans:- 1280 Explanation : SP = 80% of 1600 = 80/100*1600 = Rs.1280