# Profit and Loss Question & Answers

## Profit and Loss

Quantitative aptitude questions are asked in many competitive exams and placement exam. 'Profit and Loss' is a category in Quantitative Aptitude. Quantitative aptitude questions given here are extremely useful for all kind of competitive exams like Common Aptitude Test (CAT), MAT, GMAT, IBPS Exam, CSAT, CLAT, Bank Competitive Exams, ICET, UPSC Competitive Exams, CLAT, SSC Competitive Exams, SNAP Test, KPSC, XAT, GRE, Defense Competitive Exams, L.I.C/ G. I.C Competitive Exams, Railway Competitive Exam, TNPSC, University Grants Commission (UGC), Career Aptitude Test (IT Companies) and etc., Government Exams etc.

We have a large database of problems on "Profit and Loss" answered with explanation. These will help students who are preparing for all types of competitive examinations.

A milkman purchases the milk at Rs. x per litre and sells it at Rs. 2x per litre still he mixes 2 litres water with every 6 litres of pure milk. What is the profit percentage?

 A) 116% B) 166.66% C) 60% D) 100%

Explanation:

Let the cost price of 1 litre pure milk be Re.1, then

$\inline&space;\begin{Bmatrix}&space;6&space;&&space;litres(milk)&space;&&space;\rightarrow&space;&&space;CP=Rs.6\\&space;2&space;&&space;litres(water)&space;&&space;\rightarrow&space;&&space;CP=Rs.0&space;\end{Bmatrix}\rightarrow&space;CP=Rs.6&space;only$

and 8 litre mixture  $\rightarrow$ SP $\rightarrow$ 8 x 2 = Rs.16

Profit = $\inline&space;\frac{16-6}{6}\times&space;100=&space;\frac{1000}{6}=&space;166.66%$

Subject: Profit and Loss - Quantitative Aptitude - Arithmetic Ability

72

The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

 A) 15 B) 16 C) 18 D) 25

Explanation:

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.

S.P. of x articles = Rs. 20.

Profit = Rs. (20 - x).

${\color{Black}&space;\therefore&space;\left&space;(&space;\frac{20-x}{x}\times&space;100=25&space;\right&space;)}$

$\inline \fn_jvn \Rightarrow$2000 - 100x = 25x

$\inline \fn_jvn \Rightarrow$125x=2000

$\inline \fn_jvn \Rightarrow$x=16

Subject: Profit and Loss - Quantitative Aptitude - Arithmetic Ability

244

By selling 45 lemons for Rs 40, a man loses 20 %. How many should he sell for Rs 24 to gain 20 % in the transaction ?

 A) 16 B) 18 C) 20 D) 22

Explanation:

Let S.P. of 45 lemons be Rs. x.

Then, 80 : 40 = 120 : x or   x = $\inline \frac{40\times 120}{80}$= 60

For Rs.60, lemons sold = 45

For Rs.24, lemons sold  =$\inline \frac{45}{60}\times 24$= 18.

Subject: Profit and Loss - Quantitative Aptitude - Arithmetic Ability

92

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%

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 =${\color{Black}&space;\left&space;(&space;\frac{80}{1600}&space;\times&space;100\right&space;)&space;}$% = 5%

Subject: Profit and Loss - Quantitative Aptitude - Arithmetic Ability

88

If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425, what is the greatest possible profit that might be made in selling eight books ?

 A) 600 B) 1200 C) 1800 D) none of these

Explanation:

Least Cost Price = Rs. (200 * 8) = Rs. 1600.

Greatest Selling Price = Rs. (425 * 8) = Rs. 3400.

Required profit = Rs. (3400 - 1600) = Rs. 1800.