399+ Solved Profit and Loss Questions and Answers With Explanation

Q:

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%

Answer & Explanation Answer: B) 166.66%

Explanation:

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

$\{\begin{cases} 6 l i t e r s (m i l k) \to C . P = R s . 6 \\ 2 l i t e r s (w a t e r) \to C . P = R s . 0 \end{cases} \to C P = R s . 6 o n l y$

8 litre mixture =>

SP => 8 x 2 = Rs. 16

Profit % = $\frac{16 - 6}{6} x 100 = \frac{1000}{6} = 166.66 %$

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Q:

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

Answer & Explanation Answer: C) 1800

Explanation:

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

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

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

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Q:

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

Answer & Explanation Answer: A) Rs. 2000

Explanation:

Let C.P. be Rs. x.

Then,= > $\frac{1920 - x}{x} * 100 = \frac{x - 1280}{x} * 100$

=> 1920 - x = x - 1280

=> 2x = 3200

=> x = 1600

Required S.P. = 125% of Rs. 1600 =Rs(125/100*1600) = Rs2000

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Q:

If the cost price is 25% of selling price. Then what is the profit percent.

A) 150%	B) 200%
C) 300%	D) 350%

Answer & Explanation Answer: C) 300%

Explanation:

Let the S.P = 100
then C.P. = 25

Profit = 75

Profit% = (75/25) * 100 = 300%

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Q:

A trader sold an article at a loss of 5% but when he increased the selling price by Rs.65 he gained 3.33% on the cost price. If he sells the same article at Rs. 936, what is the profit percentage?

A) 15%	B) 16.66%
C) 20%	D) data insufficient

Answer & Explanation Answer: C) 20%

Explanation:

103.33 CP- 0.95 CP = 65

CP = Rs. 780

profit (%) = (936 - 780)/780 x 100 = 20%

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Q:

The ratio of selling price to the cost price is 21 : 16. What is the profit percentage?

A) 35.75	B) 21.75
C) 27.75	D) 31.25

Answer & Explanation Answer: D) 31.25

Explanation:

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Q:

Tarun got 30% concession on the labelled price of an article and sold it for Rs. 8750 with 25% profit on the price he bought. What was the labelled price ?

A) 10000	B) 12000
C) 13000	D) 14000

Answer & Explanation Answer: A) 10000

Explanation:

Cost Price = $R s . [\frac{100}{125} \times 8750]$ = Rs. 7000. Let the labelled price be Rs. x.

Then, $\frac{70}{100} * x = 7000$ $\Rightarrow x = R s . (\frac{7000 * 100}{70})$

= Rs.10000

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Q:

By selling 33 m clothes, a person gains cost price of 11 m clothes. Find the gain %.

A) 30%	B) 33.33%
C) 25%	D) 35%

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