Sunday, 3 April 2016

Quantitative Aptitude free study material - Profit and Loss Solved Questions 2

      Profit and Loss - Solved Examples 2

For Solved questions on Profit and Loss Part 1 , Profit and Loss Solved Questions -1 

Quantitative Aptitude   Profit and Loss - Solved Problems 21
A man sold an article at a loss of 7%. Had he been able to sell it at a gain of 9%, it would have fetched Rs 160 more than it did. Find the cost price?
     a)    Rs 800       b) Rs 1000      c) Rs 1200        d)Rs 1500
Answer : A
Explanation :  Let the cost price be 100% .
The article is sold at 7% loss => sold at 93% of the cost price
If it sold at a gain of 9% => selling price will be 109% of the cost price
109% of the cost price  - 93% of the cost price = Rs 160
ð  16% of the cost price = Rs 160
ð     Cost price = Rs 1000.

Aptitude Questions with Explanations Profit and Loss - Solved Problems 22.
A man sold an article at a profit of 30%. If he had bought it at 10% less and sold for Rs 20 more, the gain would have been 20%. Find the cost price?
a)Rs 1500      b) Rs 1750      c) Rs 2000      d) Rs 2500
Answer :C
Explanation :  Let the cost price be 100%
It is sold at 30% profit. The selling price is 130% of the cost price.
                 130% of CP + Rs 440 =
120 / 100
x 90% of CP
                  ->  130% of CP -108% of CP = Rs 440
  -> 22 % of CP= 440
è  CP  100% = $\frac{440}{22}$     X 100 = Rs 2000

Aptitude Questions and Answers  Profit and Loss - Solved Problems 23.
If the manufacturer gains 10%, the wholesale dealer 15% and the retailer 25%, then find the cost of production of a computer, the retail price of which is Rs. 25300?
 a)Rs. 16000  b)  Rs.20000   c)  Rs 17500        d)  Rs. 25000
Answer: (a)
Explanation: Let the cost of production of the table be Rs. CP.
        Then, 125% of 115% of 110% of x= 1265
 CP X
125 / 100
x
115 / 100
x
110 / 100
= 25300
CP X
253 / 100
= 25300   => CP =
(25300 X 160) / 253
ð  CP= Rs 1600

Arithmetic Aptitude -- Profit and Loss - Solved Question 24.
The price of an article, passing through three hands, rises on the whole by 65%. If the first and the second sellers earned 20% and 25% profit respectively, find the percentage profit earned by the third seller.
a) 20%          b) 10%     c)   25%        d) No gain or loss
Answer: B
Explanation: Let the original price of the article be Rs. P and let the profit earned by the third seller be x%.
Then, (100+x)% of 125% of 120% of P = 165% of P ð 
$ \frac{100+x}{100}$   x $ \frac{125}{100}$   x $ \frac{120}{100}$ = $ \frac{165P}{100}$                            
ð  100+x =   
165 x 100 x 100 / 125 x 120
ð   100 +x = 110
ð  X= 10
   Therefore profit %= 10%                     

Word Problems For GRE -  Profit and Loss - Solved Question 25
A merchant sold an article for Rs  1080 and he made a loss of 10%. At what price should he sell the article so that he incurs a loss of 5% only ?
    a)    Rs 1140       b)Rs 1105      c)Rs 1100      d)Rs 1200
Answer : A
Explanation: 
Cost price to him = Selling price x
100- loss% / 100
                          = Rs  1080 x 
100 / 90
                          = Rs 1200
   To incur only 5% loss , SP = CP  x
100- loss% / 100
                                       = Rs 1200 x
95 / 100
= Rs 1140

Word Problems for GMAT   Profit and Loss - Solved Problems 26
Mr Sharma bought two articles for Rs 1800. He sold one article at a gain of 20% and the other at a loss of 4% and he found each article was sold at the same value. What is the cost price of the articles sold at a gain ?
a)Rs 400        b)Rs 800         c)Rs 1000       d)Rs 1200
Answer :B
Explanation:  Let the cost prices be C1 and C2.   => C1+C2 = 1800
 Let C1 sold at 20% gain and C2 sold at 4% loss
      Each article was sold at the same value means the selling prices are equal.
   Therefore , C1 x
100+20 / 100
=  C2 X
100- 4 / 100
             => C1 x
120 / 100
  = C2 x
96 / 100
             => C1: C2 = 4 :5
  Cost of the article sold at 20% gain C1= Rs 1800 x 
4 / 9
                                                          =  Rs 800

Aptitude Questions for Placement Papers Profit and Loss - Solved Problems 27
Sudheer sells books at a profit of 20% for Rs 240. But due to slack in deman if he reduces its price to Rs 220, find the percent gain or loss now he makes ?
    a)    5% loss      b)10%loss    c)5% profit    d)10% profit
Answer : D
Explanation : 
His cost price is  => CP= SPx
100 / 100+ Profit%
ð  CP= Rs 240 x   
100 / 100+ 20
  = Rs 200
After reduction of the prices , he sells them for Rs  220.
             Gain % =
Gain / CP
x 100%
                          =
20 / 200
  x 100% = 10% gain

Aptitude Questions with Solutions Profit and Loss - Solved Question 28
Soumya bought 2 articles for Rs 1350 and sold one at 10% loss and another at 15% profit. On the whole there is no loss or gain. Find the articles sold at 10% loss?
a)Rs 360       b)Rs740     c)Rs 750          d)Rs 810
Answer: A
Explanation: Let the cost prices be C1 and C2 and given sum of cost price is Rs 1350
 One (C1)  sold at 10% loss and other(C2) sold at 15% profit.  
On the whole there is no loss or gain ,means the profit and loss equal in this transaction.
                                   Loss = Profit
ð 
CP1 X $ \frac{LOSS%}{100}$ = CP2 X $ \frac{pROFTI%}{100}$
ð 
CP1 X $ \frac{10}{100}$ =CP2 X$ \frac{15}{100}$
ð 
CP1 : CP2= 3 : 2
Article sold at 10% loss C1 = Rs1350 x
3 / 5
= Rs 810.

Aptitude Questions with Explanations  Profit and Loss - Solved Problems 29
A merchant buys wheat for Rs 3200. He sold one-fourth at 20% loss. At what percent gain he should sell the remaining stock so as to make an overall profit of 10% on the total transcation ?
a)5%       b)10%           c)20%             d)25%
Answer: C
Explanation : CP of 1/4 of the stock = Rs
3200 / 4
= Rs 800
1/4TH stock is sold at 20% loss=>SP= 800x
80 / 100
= Rs 320
To get overall 10% profit on the total transaction, he should get Rs 3200 x
110 / 100
= Rs 3520
Required selling price of the remaining stock = Rs 3520 – Rs 640= Rs 2880
      For the remaining ¾ stock of wheat , SP = Rs 2880 and CP= Rs 3200 – 800=2400
  Therefore required profit% =
(SP-CP) / CP
  x 100%
                                      =
(2880-2400) / 2400
                                      = 
480 / 2400
  x 100%
                                      = 20%

Word Problems for GMAT -- Profit and Loss - Solved Question 30
A reduction of 20% enables a man to buy five more articles for Rs 400. What is the original price of the article ?
A)Rs 40      b)Rs 20      c)Rs 16           d)Rs 10
Answer : B   
Explanation :  Savings in Rs 400 due to reduction in the price 
                                      = Rs 400 x
20 / 100
= Rs 80
This savings Rs 80 enables the man to buy five more articles at reduced price.
             Reduced price of 5 articles is Rs 80
              Reduced price of 1 article is Rs
80 / 5
= Rs 16
Reduced price is 80% of the original price (because there is 20% reduction in the price)
                       80% of the original price = Rs 16
            Original price  100%= Rs
16 / 80
  x 100 = Rs 20


Quantitative Reasoning Questions Profit and Loss - Solved Question 31
A merchant buys a certain number of apples at 6 a rupee and the same number at 9 a rupee too. He mixes and sells them at 8 a rupee. Find his profit or loss %?
     a)10 % gain    b)10%loss     c)20% gain    d)15% gain
Answer: B
Explanation : 
Suppose the merchant buys ( LCM of 6 ,8,9)=   72 apples
Cost price of 18 apples at the rate of 6 per rupee =
72 / 6
= Rs 12
Cost price of 18 apples at the rate of 9 per rupee =
72 / 9
= Rs 8
       Total cost for 144  apples =  Rs 20
SP of 144 apples  = 
144 / 8
= Rs 18
   loss % =
Loss / CP
  X 100% =
2 / 20
X 100% = 10% loss

Quantitative Reasoning Questions Profit and Loss - Solved Problems 32
A merchant bought 10 articles at Rs 600 each. 1 article was broken and he sold 2 articles at 5% loss. At what percentage profit he should sell the remaining articles so as to gain a profit of 10% on the total cost ?
a)20%            b)25%             c)30%              d)35%
Answer : C
Explanation :  Cost price of 10 articles = 10  x 600 = 6000
     Total proft required is 10% on the cost price 
= > Desired selling price = 6000 x
110 / 100
= Rs 6600
As 1 article is broken, its selling price is zero.
2 articles sold at 5% loss => Selling price of these 2 articles = 2 x 600 x
95 / 100
= Rs 1140
     Balance amount desired from selling of 7 articles =  Rs 6600  –  Rs 1140 = Rs 5460
                  Each articles should be sold for
5460 / 7
  ∴ Required profit percentage =
Profit / CP
X 100 =
180 / 600
x 100 = 30%

Aptitude Questions with Explanation Profit and Loss - Solved Problems 33
A camera and a mobile were sold for Rs.6000 each. The camera was sold at a loss of 20% and the mobile sold at a gain of 20%. The entire transaction resulted in :
a)A loss of Rs 500      b) A profit of Rs 1000        
c) A loss of Rs 500     d) A loss of Rs 1000
Answer : B
Explanation: If the selling price of two articles are same and a% profit is made on one article and  a% loss is made on another article , then overall loss% =-(
a2 / 100
)%
So in this case, Profit% = Loss% = 20. So a= 20
 Overall loss %=-(
a2 / 100
)% = -(
202 / 100
)%= 4% loss
Total S.P = 2 x  Rs 6000 =  Rs 12000

            Let the cost price be 100%.
They both together sold at 4% loss => Selling price 96%= Rs 12000
       Loss  % =>4%=
12000 / 96
  x 4 =Rs  500
Therefore  , a loss of Rs 500 is there in the transaction.

Aptitude for Bank Tests - Profit and Loss - Solved Problem 34
A fruit vendor bought 24 dozens of apples at Rs 3600. 48 apples were rotten. At what price per dozen should he sell the remaining apples to get 25% profit on the whole?
a)Rs 225      b)Rs 250         c)Rs 275         d)Rs 300
Answer: A
Explanation : To get 25% profit on whole, the selling price must be
ð  3600x $\frac{125}{100}$ = Rs 4500
48 apples were rotten . As 4 dozen apples were rotten, remaining we have 20 dozens.
         Selling price of each dozen to get 25% total profit = Rs
4500 / 20
= Rs 225


Aptitude Questions and Answer Profit and Loss - Solved Question 35
Two successive discounts of 20% and 30% are equivalent to a single discount of ?
     a)     50%          b)53%          c)56%             d)60%
Answer:
Explanation : Let the cost price be Rs 100
 Selling price after 20% and 30% successive discounts
   = 100 x
100-20 / 100
X
100-30 / 100
   = 100 x
80 / 100
x
70 / 100
= Rs 56
       Therefore overall discount = 100 – 56 = 44%
Alternative Method :
 If there are two successive discounts a% and b%, then overall single discount
            = -a -b +
AB / 100
  %
            = -20 – 30 –
20 X 30 / 100
  = 44% discount
But this formula is useful only when 2 successive discounts are given

Aptitude Questions with Explanations - Profit and Loss - Solved Problems 36
The list price of an article is Rs 1200. Two successive discounts of 10% and  20% are given on it. What is the selling price?
a)Rs 864       b)Rs 900       c)Rs 924        d)Rs 1020
Answer: A
Explanation : 
 Selling price = CP X
100-Discount% / 100
x
100-Discount% / 100
                         = Rs 1200 x
100-10 / 100
  x
100-20 / 100
                         = Rs 1200 x
90 / 100
x
80 / 100
                         = Rs 864  

Quantitative Aptitude Questions --Profit and Loss - Solved Problems 37
The marked price of an article is Rs 3200. It is sold for Rs 2520 after giving two successive discounts . If one discount is 10%, find the second discount is
a)12.5%       b)10%       c)15%         d)14 2/7%
Answer : A
Explanation :
  SP = MP x
100-Discount% / 100
  x
100-Discount% / 100
                         2520 = 3200 x
100-10 / 100
  x
100-Discount% / 100
                     2520  =  3200 x
90 / 100
x
100-Discount% / 100
 On solving we get Discount% = 12.5%

Alternative Method :
                  Marked price is  Rs 3200
   After 10%  discount  ,   the price will be  3200 x
90 / 100
= 2880

   After x% discount , the price becomes     Rs 2520
So second discount in rupees = Rs 2880 – Rs 2520 = 360
    2nd discount% =
Discount / Base Price
  x 100%  

                        =
360 / 2880
x 100%= 12.5%

Aptitude Solved Questions  Profit and Loss - Solved Problems 38
What is the mark up percentage over the cost price a shop keeper should mark his goods so that he again 20% even after giving a discount of 25% on the market price ?
a)60         b)75          c)80             d)30
Answer: A
Explanation : Discount is always given on marked price and profit always obtained on cost price.
As per the given data 120% of the cost price must be equal to 75% of the market price

ð  $\frac{120}{100}$ CP = $ \frac{75}{100}$ MP
ð  CP : MP   = 5:8
    required markup percentage =
8-5 / 5
 x 100% = 60%

Aptitude Questions with Explanations Profit and Loss - Solved Problems 39
A merchant marks his goods 35% above the cost price and allows 16 2/3% discount. The selling price of the goods is Rs 13500, find the cost price of the goods 
a)    Rs 10500     b)Rs 12000       c)Rs 13200        d)Rs 11500
Answer : B
Explanation :                     Let the cost price be CP
  After marking up the price  35% above the cost price , marked price = CP x
130 / 100
  A discount of 16 2/3% is given on marked price
             SP = CP x
130 / 100
x
100- 16 2/3 / 100
          Rs 13500 = CP x
130 / 100
x
5 / 6
                  CP= Rs 12000

Quantitative Reasoning for GRE --Profit and Loss - Solved Problems 40
A merchant put the marked price 10% above the cost price. He allows certain discount at the time of selling and he suffers a loss of 1%. What the allowed discount ?
a)5%           b)10%             c)15%                  d)20%
Answer :A
Explanation : Let the cost price be Rs 100
  The marked price is 10% above the cost price = Rs 110
After discount, he got  1 % loss on Cost price è Selling price = Rs 99
              Discount given is 110 – 99 = Rs 11
                    Discount % =
Discount / MP
x  100%
                                      =
11 / 110
X 100% = 10%