Profit and Loss | Aptitude Questions and Answers | Aptitude Free Online-Tests | LucentBlackBoard

01.

A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:

A.	No profit, no loss	B.	5%
C.	8%	D.	10%

Answer and Explanation

Answer: 5%

Explanation:
C.P. of 56 kg rice = Rs. (26 x 20 + 30 x 36) = Rs. (520 + 1080) = Rs. 1600.
S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.
Gain = (80/1600) x 100 % = 5%.

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02.

When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?

A.	Rs. 21,000	B.	Rs. 22,500
C.	Rs. 25,300	D.	Rs. 25,800

Answer and Explanation

Answer: Rs. 25,300

Explanation:
85 : 18700 = 115 : x
x = (18700 x 115) / 85 = 25300.

Hence, S.P. = Rs. 25,300.

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03.

Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?

A.	3.5	B.	4.5
C.	5.6	D.	6.5

Answer and Explanation

Answer: 5.6

Explanation:
Cost Price of 1 toy = Rs. 375 / 12 = Rs. 31.25

Selling Price of 1 toy = Rs. 33
So, Gain = Rs. (33 - 31.25) = Rs. 1.75
Profit % = (1.75 / 31.25) x 100 % = 28 / 5% = 5.6%

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04.

The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

A.	2000	B.	Rs. 2200
C.	Rs. 2400	D.	Data inadequate

Answer and Explanation

Answer: 2000

Explanation:

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05.

Eleven bags are bought for Rs.1000 and sold at 10 for Rs.1100. What is the gain or loss in percentage?

A.	10%	B.	21%
C.	25%	D.	20%

Answer and Explanation

Answer: 21%

Explanation:
As selling price is Rs.1100 for 10 bags, each bag is sold at Rs.110.
Hence, the profit is Rs.100 after selling 10 bags plus the selling price of 1 bag = 100 + 110 = Rs.210.
%profit = 210/1000 *100
= 21%

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06.

What is a single discount equivalent to two successive discounts of 15% and 20%?

A.	32%	B.	35%
C.	30%	D.	25%

Answer and Explanation

Answer: 32%

Explanation:
Single discount equivalent to two successive discounts of x% and y%
= [x + y – xy/100]
= [15 + 20 – (15*20/100)]
= [35 – 3]
= 32%

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07.

Find the resultant profit if A sells a cupboard at a profit of 6% to B and B sells the same to C at a profit of 9%.

A.	15%	B.	16%
C.	14.5%	D.	15.54%

Answer and Explanation

Answer: 15.54%

Explanation:
The resultant profit = 1.06 * 1.09 = 1.1554 = 15.54%
Alternatively, the resultant profit = [x + y + xy/100]
= 6 + 9 + (6*9)/100
= 15 + 0.54
= 15.54%

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08.

A cloth merchant makes an advertisement that he will take only 1.5% profit during the Diwali sale. After the sale he actually made a profit of 12% by using a faulty meter rod. What was the length of the meter rod used by the merchant?

A.	0.92025 m	B.	0.9525 m
C.	0.90625 m	D.	0.98075 m

Answer and Explanation

Answer: 0.90625 m

Explanation:
Let g: - be the gain or loss in total transaction
x: - gain or loss on cost price
(100 + g) / (100 + x) = True measure / Faulty measure
In the above problem, g = 12%
x = 1.5%
Therefore, (100 + 12) / (100 + 1.5) = 1/ y
112 / 101.5 = 1/ y; y = 101.5 / 112
y = 0.90625 m

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09.

A merchant buys 20kg of a variety of rice at Rs. 1.50 per kg and 40 kg of another variety of rice at 90 paise per kg. He mixes them and sells one third of the mixture at Rs. 1 per kg. at what rate should he sell the remaining mixture so that he may earn a profit of 25% on the whole outlay?

A.	Rs. 1.5625/kg	B.	Rs. 1.10/kg
C.	Rs. 1.375/kg	D.	Rs. 1 / kg

Answer and Explanation

Answer: Rs. 1.5625/kg

Explanation:
Cost Price of 60kg rice = 20(1.50) + 40(0.9) = Rs. 66
Selling Price of 20kg = Rs. 20
Let Selling Price of 40kg = Rs. x
20 + x = 66[125/100]
40 + 2x = 165
2x = 125
x = Rs. 6.25
Selling price of 1 kg = 6.25 / 40 = Rs. 1.5625 / kg

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10.

A sold a table to B at a profit of 15%. Later B sold it back to A at a profit of 20% thereby gaining Rs. 69. How much did A pay for the table originally?

A.	Rs. 350	B.	Rs. 450
C.	Rs. 405	D.	Rs. 300

Answer and Explanation

Answer: Rs. 300

Explanation:
Let Cost Price of A = 100; Selling Price of A = 100(115 / 100) = Rs. 115
Cost Price of B = Rs. 115; Selling Price of B = 115(120/100) = Rs. 138
= Cost of Price A
Gain of B = 138 – 115 = Rs. 23
If Cost Price of A = 100, gain of B = 23
Gain of B = 69
Cost Price of A = (100 × 69)/23 = Rs. 300

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