Question 1

1. A shopkeeper marks up his goods by 40% and gives a discount of 15%. If he uses a faulty balance that reads 1000 g for 800 g, what is his net profit percentage?

A) 45%B) 42.5%C) 50%D) 48.75%

Answer

✓ Correct Answer: Option D

Explanation: Explanation: Let CP of 1000g = 100. MP = 140. SP after 15% discount $= 140 \times 0.85 = 119$. He gives 800 g which costs him 80. Profit = 119 - 80 = 39. Profit $% = (39/80) \times 100 = 48.75%$.

Question 2

2. A person bought two articles A and B for Rs. 5000. He sold A at 20% profit and B at 10% loss. Thus he gained 2% on his total outlay. What was the cost price of A?

A) Rs. 1500B) Rs. 2000 Rs. 2500

Question 3

3. By selling 90 pens for Rs. 160, a person loses 20%. How many pens should be sold for Rs. 96 to make a profit of 20%?

A) 32B) 36C) 40D) 45

Answer

✓ Correct Answer: Option B

Explanation: Explanation: SP of 1 pen = 160/90 = 16/9. CP of 1 pen = (16/9) / 0.8 = 20/9. Target SP of 1 pen for 20% profit $= (20/9) \times 1.2 = 24/9 = 8/3$. Number of pens for 96 = 96 / (8/3) = 36.

Question 4

4. A merchant earns a profit of 20% by selling an article. If he had bought it at 10% less and sold it for Rs. 18 less, he would have gained 30%. Find the initial cost price.

A) Rs. 400B) Rs. 500C) Rs. 600D) Rs. 800

Answer

✓ Correct Answer: Option C

Explanation: Explanation: Let CP = 100x. SP = 120x. New CP = 90x. New SP = 120x - 18. Given $90x \times 1.30 = 117x$. Therefore, 120x - 117x = 18 ⇒ 3x = 18 ⇒ x = 6. CP $= 100 \times 6 = 600$.

Question 5

5. A tradesman gives a 4% discount on the marked price and gives 1 article free for buying every 15 articles and thus gains 35%. The marked price is increased above the cost price by:

A) 35%B) 40%C) 50%D) 60%

Answer

✓ Correct Answer: Option C

Explanation: Explanation: Let MP of 1 article = 100. For 16 articles, customer pays for 15. SP $= 15 \times 96 = 1440$. Shopkeeper gives 16 articles. Total CP = 16C. Profit = 35%. $16C \times 1.35 = 1440 ⇒ 21.6C = 1440 ⇒ C = 66.66$. MP (100) is 50% more than CP (66.66).

Question 6

6. The cost price of item B is Rs. 150 more than item A. Item A was sold at a profit of 10% and item B was sold at a loss of 20%. If the ratio of selling prices of items A and B is 11 : 12, what is the cost price of item B?

A) Rs. 300B) Rs. 400C) Rs. 450D) Rs. 500

Answer

✓ Correct Answer: Option C

Explanation: Explanation: Let CP of A = x, CP of B = x + 150. SP of A = 1.1x. SP of B = 0.8(x + 150). 1.1x / 0.8(x + 150) = 11/12 ⇒ x / 0.8(x + 150) = 10/12 = 5/6 ⇒ 6x = 4x + 600 ⇒ x = 300. CP of B = 300 + 150 = 450.

Question 7

7. A dealer marks a washing machine for Rs. 7500, and allows successive discounts of 15% and 10%. He spends Rs. 137.50 on transport and sells it for Rs. 6500. What is his profit percentage?

A) 10.64%B) 10%C) 11.11%D) 12.5%

Answer

✓ Correct Answer: Option A

Explanation: Explanation: Discounted Price $= 7500 \times 0.85 \times 0.90 = 5737.50$. Total CP = 5737.50 + 137.50 = 5875. SP = 6500. Profit = 6500 - 5875 = 625. Profit $% = (625/5875) \times 100 \approx 10.638%$.

Question 8

8. The marked price of an article is Rs. 5000. It is sold at a discount of 20%. If the cost price is Rs. 3000, what is the profit percentage?

A) 25%B) 30%C) 33.33%D) 40%

Answer

✓ Correct Answer: Option C

Explanation: Explanation: SP $= 5000 \times 0.80 = 4000$. Profit = 4000 - 3000 = 1000. Profit $% = (1000/3000) \times 100 = 33.33%$.

Question 9

9. A dishonest dealer professes to sell his goods at 10% profit but uses a false weight of 800 g instead of 1 kg. Find his actual profit percentage.

A) 30%B) 33.33%C) 37.5%D) 40%

Answer

✓ Correct Answer: Option C

Explanation: Explanation: Let CP of 1000 g be 1000. Claimed SP = 1100. Actual CP (for 800 g) = 800. Profit = 1100 - 800 = 300. Profit $% = (300/800) \times 100 = 37.5%$.

Question 10

10. Ram buys 4 chairs and 3 tables for Rs. 2100. He sells the chairs at 10% profit and tables at 20% profit. His total profit is Rs. 330. What is the cost price of a single table?

A) Rs. 300B) Rs. 350C) Rs. 400D) Rs. 450

Answer

✓ Correct Answer: Option C

Explanation: Explanation: Let C = Total CP of chairs, T = Total CP of tables. C + T = 2100. 0.1C + 0.2T = 330 ⇒ C + 2T = 3300. Subtracting yields T = 1200. CP of 1 table = 1200 / 3 = 400.

Question 11

11. A shopkeeper sold an article at a discount of 10% on marked price and earned a profit of 20%. If the marked price is Rs. 400, what is the cost price?

A) Rs. 280B) Rs. 300C) Rs. 320D) Rs. 350

Answer

✓ Correct Answer: Option B

Explanation: Explanation: SP $= 400 \times 0.90 = 360$. Profit is 20%, so CP = 360 / 1.20 = 300.

Question 12

12. An article is sold at a profit of 14%. If both the cost price and selling price are Rs. 117 less, the profit would be 9% more. Find the initial cost price.

A) Rs. 299B) Rs. 310C) Rs. 350D) Rs. 389

Answer

✓ Correct Answer: Option A

Explanation: Explanation: Let CP = 100x, SP = 114x. New CP = 100x - 117, New SP = 114x - 117. Profit amount = 14x. New Profit % = 14 + 9 = 23%. 14x / (100x - 117) = 23/100 ⇒ 1400x = 2300x - 2691 ⇒ 900x = 2691 ⇒ x = 2.99. CP = 299.

Question 13

13. A man buys oranges at 5 for Rs. 10 and sells them at 6 for Rs. 15. Find his profit percentage.

A) 20%B) 25%C) 30%D) 33.33%

Answer

✓ Correct Answer: Option B

Explanation: Explanation: CP of 1 orange = 10/5 = Rs. 2. SP of 1 orange = 15/6 = Rs. 2.5. Profit = 0.5. Profit $% = (0.5 / 2) \times 100 = 25%$.

Question 14

14. A shopkeeper marked his goods 50% above the cost price and allowed a discount of 20% on it. If he had sold the goods at a 25% discount, his profit would have been Rs. 150 less. Find the cost price.

A) Rs. 1800B) Rs. 2000C) Rs. 2200D) Rs. 2500

Answer

✓ Correct Answer: Option B

Explanation: Explanation: Let CP = 100x. MP = 150x. SP1 (20% disc) = 120x. SP2 (25% disc) = 112.5x. Difference = 7.5x = 150 ⇒ x = 20. CP $= 100 \times 20 = 2000$.

Question 15

15. Two lots of onions with equal quantity, one costing Rs. 10 per kg and the other costing Rs. 15 per kg, are mixed together and the whole lot is sold at Rs. 15 per kg. What is the profit percentage?

A) 16.66%B) 20%C) 25%D) 50%

Answer

✓ Correct Answer: Option B

Explanation: Explanation: Assume 1 kg of each. Total CP for 2kg = 10 + 15 = 25. SP for $2kg = 2 \times 15 = 30$. Profit = 5. Profit $% = (5/25) \times 100 = 20%$.

Question 16

16. A manufacturer sells an article to a wholesale dealer at a profit of 10%. The dealer sells it to a shopkeeper at 20% profit. The shopkeeper sells it to a customer for Rs. 56,100 at a loss of 15%. The cost price for the manufacturer is:

A) Rs. 40000B) Rs. 45000C) Rs. 50000D) Rs. 55000

Answer

✓ Correct Answer: Option C

Explanation: Explanation: Let CP = x. $x \times 1.10 \times 1.20 \times 0.85 = 56100$. $1.10 \times 1.20 = 1.32$. $1.32 \times 0.85 = 1.122$. 1.122x = 56100 ⇒ x = 50000.

Question 17

17. X sells a scooter to Y at a profit of 20%. Y sells it to Z at a profit of 25%. If Z pays Rs. 3000 for it, what was the cost price of the scooter for X?

A) Rs. 1800B) Rs. 2000C) Rs. 2200D) Rs. 2400

Answer

✓ Correct Answer: Option B

Explanation: Explanation: Let X's CP = x. $x \times 1.20 \times 1.25 = 3000$. $x \times 1.50 = 3000 ⇒ x = 2000$.

Question 18

18. If the selling price is tripled and cost price doubled, the profit would become 65%. What is the present profit %?

A) 5%B) 10%C) 15%D) 20%

Answer

✓ Correct Answer: Option B

Explanation: Explanation: New SP $= 3\timesSP$, New CP $= 2\timesCP$. New Profit % = (3SP - 2CP) / 2CP = 0.65. 3SP - 2CP = 1.3CP ⇒ 3SP = 3.3CP ⇒ SP/CP = 1.1. Present profit is 10%.

Question 19

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

A) 4%B) 5%C) 6%D) 8%

Answer

✓ Correct Answer: Option B

Explanation: Explanation: Total CP $= (26 \times 20) + (30 \times 36) = 520 + 1080 = 1600$. Total quantity = 56kg. Total SP $= 56 \times 30 = 1680$. Profit = 80. Profit $% = (80 / 1600) \times 100 = 5%$.

Question 20

20. Profit earned by selling an article for Rs. 1060 is 20% more than the loss incurred by selling the article for Rs. 950. At what price should the article be sold to earn a 20% profit?

A) Rs. 1100B) Rs. 1150C) Rs. 1200D) Rs. 1250

Answer

✓ Correct Answer: Option C

Explanation: Explanation: Profit = 1060 - CP. Loss = CP - 950. 1060 - CP = 1.2(CP - 950). 1060 - CP = 1.2CP - 1140 ⇒ 2.2CP = 2200 ⇒ CP = 1000. Target SP $= 1000 \times 1.20 = 1200$.

Accepted Answer

✓ Correct Answer: Option B

Explanation: Explanation: Using alligation: +20% and -10% resulting in mean +2%. Ratio of CP = (2 - (-10)) : (20 - 2) = 12 : 18 = 2:3. CP of A $= (2/5) \times 5000 = Rs. 2000$.

Advanced Profit & Loss Quiz for Bank PO (IBPS/SBI)

1. A shopkeeper marks up his goods by 40% and gives a discount of 15%. If he uses a faulty balance that reads 1000 g for 800 g, what is his net profit percentage?

2. A person bought two articles A and B for Rs. 5000. He sold A at 20% profit and B at 10% loss. Thus he gained 2% on his total outlay. What was the cost price of A?

3. By selling 90 pens for Rs. 160, a person loses 20%. How many pens should be sold for Rs. 96 to make a profit of 20%?

4. A merchant earns a profit of 20% by selling an article. If he had bought it at 10% less and sold it for Rs. 18 less, he would have gained 30%. Find the initial cost price.

5. A tradesman gives a 4% discount on the marked price and gives 1 article free for buying every 15 articles and thus gains 35%. The marked price is increased above the cost price by:

6. The cost price of item B is Rs. 150 more than item A. Item A was sold at a profit of 10% and item B was sold at a loss of 20%. If the ratio of selling prices of items A and B is 11 : 12, what is the cost price of item B?

7. A dealer marks a washing machine for Rs. 7500, and allows successive discounts of 15% and 10%. He spends Rs. 137.50 on transport and sells it for Rs. 6500. What is his profit percentage?

8. The marked price of an article is Rs. 5000. It is sold at a discount of 20%. If the cost price is Rs. 3000, what is the profit percentage?

9. A dishonest dealer professes to sell his goods at 10% profit but uses a false weight of 800 g instead of 1 kg. Find his actual profit percentage.

10. Ram buys 4 chairs and 3 tables for Rs. 2100. He sells the chairs at 10% profit and tables at 20% profit. His total profit is Rs. 330. What is the cost price of a single table?

11. A shopkeeper sold an article at a discount of 10% on marked price and earned a profit of 20%. If the marked price is Rs. 400, what is the cost price?

12. An article is sold at a profit of 14%. If both the cost price and selling price are Rs. 117 less, the profit would be 9% more. Find the initial cost price.

13. A man buys oranges at 5 for Rs. 10 and sells them at 6 for Rs. 15. Find his profit percentage.

14. A shopkeeper marked his goods 50% above the cost price and allowed a discount of 20% on it. If he had sold the goods at a 25% discount, his profit would have been Rs. 150 less. Find the cost price.

15. Two lots of onions with equal quantity, one costing Rs. 10 per kg and the other costing Rs. 15 per kg, are mixed together and the whole lot is sold at Rs. 15 per kg. What is the profit percentage?

16. A manufacturer sells an article to a wholesale dealer at a profit of 10%. The dealer sells it to a shopkeeper at 20% profit. The shopkeeper sells it to a customer for Rs. 56,100 at a loss of 15%. The cost price for the manufacturer is:

17. X sells a scooter to Y at a profit of 20%. Y sells it to Z at a profit of 25%. If Z pays Rs. 3000 for it, what was the cost price of the scooter for X?

18. If the selling price is tripled and cost price doubled, the profit would become 65%. What is the present profit %?

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

20. Profit earned by selling an article for Rs. 1060 is 20% more than the loss incurred by selling the article for Rs. 950. At what price should the article be sold to earn a 20% profit?