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Here we are creating question sample in Profit and loss, which is common for all the competitive exams. We have included Some questions that are repeatedly asked in exams!!!

1.Arun went to buy an Android mobile, the shopkeeper told him to pay 20% tax if he asked the bill. Arun manages to get the discount of 5% on the actual sale price of the mobile and he paid the shopkeeper Rs. 8550 without tax. Besides he manages to avoid to pay 20% tax on the already discounted price, what is the amount of discount?

A.2685

B.2636

C.2250

D.2675

E.2690

Answer & Explanation

Answer – C.2250

Explanation :

CP = 100, SP (with tax) =120

New SP = 100 – 5 = 95

Discount = 120 – 95 = 25

Discount = 25/95 * 8550 = 2250

2.Cost Price of two mobiles is same. One is sold at a profit of 20% and the other for Rs. 5200 more than the first. If the net profit is 40%. Find the cost price of each mobile?

A. Rs. 13000

B. Rs. 12000

C. Rs. 16000

D. Rs. 12500

E. None of these

Answer & Explanation

Answer – A. Rs. 13000

Explanation:

CP of each mobile be Rs.x then

(2 x 1.20 x x) + 5200 = 2 x 1.4 x N

⇒ 0.4 x = 5200

∴ N = 13000

3.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

Answer & Explanation

Answer – D. Rs. 5000

Explanation :

0.50/5 * 50,000 = 5000

4.A reduction of 20% in the price of sugar enables a housewife to purchase 6 kg more for Rs. 240. What is original price per kg of sugar?

A. Rs.10 per Kg

B. Rs.8 per Kg

C. Rs.6 per Kg

D. Rs.5 per Kg

E. None of these

Answer & Explanation

Answer – A. Rs.10 per Kg

Explanation :

Explanation:

Reduction in price = 1/5 = 20%

Increase in Quantity = 25%

25% = 6 Kg.

original amount of Sugar = 6*4 = 24Kg.

Original price of the sugar = 240/24 = Rs. 10 per kg.

5.A Bike is available at 40% discount at show room “A” and the same is available at only 25% discount at show room “B”. Mr. Arun has just sufficient amount of Rs. 60,000 to purchase it at show room “A”. What is the amount that Mr. Arun has less than the required amount to purchase it at that show room “B”?

A. Rs. 70000

B. Rs. 50000

C. Rs. 10000

D. Rs. 15000

E. None of these

Answer & Explanation

Answer – D. Rs. 15000

Explanation :

Let the marked price be x.

Cost price (CP) = 40 % discount on MP = 0.6y = 60000

⇒ y= Rs.100000 MP

SP at Show Room “A” = Rs. 60000

SP at Show Room “B” = 100000 X 0.75 = 75000; Difference = 15000

6.Person A sold his car to Person B at a profit of 20% and B sold it to C at a profit of 10%. Person C sold it to mechanic at a loss of 9.09%. Mechanic spent 10% of his purchasing price and then sold it at a profit of 8.33% to Person “A” once again. What is the loss of person “A”?

A. 23%

B. 29%

C. 50%

D. 40%

E. None of these

Answer & Explanation

Answer – A. 23%

Explanation :

A:

CP = 100

SP = 120

B:

CP = 120

SP = 132

C:

CP = 132

SP = 120

Mechanic:

CP = 120 + 12 = 132

SP = 143

Loss of A = 143 – 120 = 23

% loss of A = (23 / 100) x 100 = 23%

7.A and B are two partners and they have invested Rs. 54,000 and Rs. 90,000 in business. After one year A received Rs 1200 as his share of profit out of total profit of Rs. 4200 including his certain commission on total profit since he is a working partner and rest profit is received by B. What is the commission of A as a percentage of the total profit?

A. 1200

B. 1100

C. 1500

D. 1250

E. None of these

Answer & Explanation

Answer – A. 1200

Explanation :

Explanation:

Ratio of profit of A : B (excluding commission of A) = 54000 : 90000 =>3 : 5

Now the share of profit of B = 4200 – 1200 = Rs. 3000

So the share of profit A (excluding commission) = Rs. 1800

So the commission of A = 3000 – 1800 = 1200

8.A shopkeeper bought 150 pen drives at the rate of Rs. 500 per pen drive. He spent Rs. 500 on transportation and packing. If the marked price of pen drive is Rs. 520 per pen drive and the shopkeeper gives a discount of 5% on the marked price then what will be the percentage profit gained by the shopkeeper?

A. 4.5%

B. 5.5%

C. 3.8%

D. 1.2%

E. None of these

Answer & Explanation

Answer – C. 3.8%

Explanation :

C.P. of 150 calculators = 150 x 500 = Rs. 75000

∴ Total C.P. = 75000 + 500 = Rs. 75500

Marked price of 150 calculator = 150 x 570 = Rs. 82500

Selling price after discount = 82500 x 95 / 100 = Rs. 78375

∴ percentage profit = [(78375 – 75500) / 75500] x 100 = 3.8%

9.A vendor has two types of grapes. One is the fresh grapes containing 80% water and dry grapes containing 25% water. He sells 20 kg dry grapes, by adding water to the dry grapes, at cost price. What is the total profit percentage when after adding water the weight of 20 kg dry grapes increase in the proportion of water in fresh grapes?

A. 265%

B. 200%

C. 280%

D. 275%

E. None of these

Answer & Explanation

Answer – D. 275%

Explanation :

Fresh grapes

Water: Pulp = 80% : 20% = 4 : 1

Dry grapes

Water: Pulp = 25% : 75% = 1 : 3

So out of 20 kg dry grapes, Water : Pulp = 5 kg : 15 kg

After adding of water the ratio of water : pulp is same as the fresh grapes = 4 : 1

After adding water the quantity of Water and Pulp are 60 kg and 15 kg respectively.

% = 55/20 * 100 = 275%

10.Pinkey and Shalini invested some amount of money in the ratio of 3:5 for the same period in the business. They decided that at the end of the year 20% profit was to be given to an organization as a donation. Out of the remaining, 75% was to be reinvested and the rest of the profit was to be divided as interest on their capitals. If the difference in their share is Rs. 2400. What is the total profit?

A. 49800

B. 49400

C. 48000

D. 49500

E. None of these

Answer & Explanation

Answer – C. 48000

Explanation :

Let the total profit = 100

Amount left after donation = 50

Amount left after reinvestment = 20

Now, 5x/8 – 3x/8 = 2400

⇒ 2x/8 = 2400 = 9600

⇒ 1/5 of y = 9600 => y = 48000

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