Advanced Profit & Loss Quiz for Bank PO (IBPS/SBI) | Concept of Maths

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 \(1000\text{g}\) for \(800\text{g}\), what is his net profit percentage?

A) \(45\%\)

B) \(42.5\%\)

C) \(50\%\)

D) \(48.75\%\)

Answer

Correct Answer: D

Explanation: Let CP of \(1000\text{g} = 100\). MP \(= 140\). SP after \(15\%\) discount \(= 140 \times 0.85 = 119\). He gives \(800\text{g}\) 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 \(\text{Rs. } 5000\). 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) \(\text{Rs. } 1500\)

B) \(\text{Rs. } 2000\)

C) \(\text{Rs. } 2500\)

D) \(\text{Rs. } 3000\)

Answer

Correct Answer: B

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

Question 3

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

A) \(32\)

B) \(36\)

C) \(40\)

D) \(45\)

Answer

Correct Answer: B

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 \(\text{Rs. } 18\) less, he would have gained \(30\%\). Find the initial cost price.

A) \(\text{Rs. } 400\)

B) \(\text{Rs. } 500\)

C) \(\text{Rs. } 600\)

D) \(\text{Rs. } 800\)

Answer

Correct Answer: C

Explanation: Let CP \(= 100x\). SP \(= 120x\). New CP \(= 90x\). New SP \(= 120x - 18\). Given \(90x \times 1.30 = 117x\). Therefore, \(120x - 117x = 18 \implies 3x = 18 \implies x = 6\). 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: C

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 \(= 35\%\). \(16C \times 1.35 = 1440 \implies 21.6C = 1440 \implies C = 66.66\). MP \((100)\) is \(50\%\) more than CP \((66.66)\).

Question 6

6. The cost price of item B is \(\text{Rs. } 150\) 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) \(\text{Rs. } 300\)

B) \(\text{Rs. } 400\)

C) \(\text{Rs. } 450\)

D) \(\text{Rs. } 500\)

Answer

Correct Answer: C

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

Question 7

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

A) \(10.64\%\)

B) \(10\%\)

C) \(11.11\%\)

D) \(12.5\%\)

Answer

Correct Answer: A

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 \(\text{Rs. } 5000\). It is sold at a discount of \(20\%\). If the cost price is \(\text{Rs. } 3000\), what is the profit percentage?

A) \(25\%\)

B) \(30\%\)

C) \(33.33\%\)

D) \(40\%\)

Answer

Correct Answer: C

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 \(800\text{g}\) instead of \(1\text{kg}\). Find his actual profit percentage.

A) \(30\%\)

B) \(33.33\%\)

C) \(37.5\%\)

D) \(40\%\)

Answer

Correct Answer: C

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

Question 10

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

A) \(\text{Rs. } 300\)

B) \(\text{Rs. } 350\)

C) \(\text{Rs. } 400\)

D) \(\text{Rs. } 450\)

Answer

Correct Answer: C

Explanation: Let \(C\) = Total CP of chairs, \(T\) = Total CP of tables. \(C + T = 2100\). \(0.1C + 0.2T = 330 \implies C + 2T = 3300\). 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 \(\text{Rs. } 400\), what is the cost price?

A) \(\text{Rs. } 280\)

B) \(\text{Rs. } 300\)

C) \(\text{Rs. } 320\)

D) \(\text{Rs. } 350\)

Answer

Correct Answer: B

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 \(\text{Rs. } 117\) less, the profit would be \(9\%\) more. Find the initial cost price.

A) \(\text{Rs. } 299\)

B) \(\text{Rs. } 310\)

C) \(\text{Rs. } 350\)

D) \(\text{Rs. } 389\)

Answer

Correct Answer: A

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

Question 13

13. A man buys oranges at \(5\) for \(\text{Rs. } 10\) and sells them at \(6\) for \(\text{Rs. } 15\). Find his profit percentage.

A) \(20\%\)

B) \(25\%\)

C) \(30\%\)

D) \(33.33\%\)

Answer

Correct Answer: B

Explanation: CP of 1 orange \(= 10/5 = \text{Rs. } 2\). SP of 1 orange \(= 15/6 = \text{Rs. } 2.5\). 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 \(\text{Rs. } 150\) less. Find the cost price.

A) \(\text{Rs. } 1800\)

B) \(\text{Rs. } 2000\)

C) \(\text{Rs. } 2200\)

D) \(\text{Rs. } 2500\)

Answer

Correct Answer: B

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

Question 15

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

A) \(16.66\%\)

B) \(20\%\)

C) \(25\%\)

D) \(50\%\)

Answer

Correct Answer: B

Explanation: Assume \(1\text{kg}\) of each. Total CP for \(2\text{kg} = 10 + 15 = 25\). SP for \(2\text{kg} = 2 \times 15 = 30\). 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 \(\text{Rs. } 56,100\) at a loss of \(15\%\). The cost price for the manufacturer is:

A) \(\text{Rs. } 40000\)

B) \(\text{Rs. } 45000\)

C) \(\text{Rs. } 50000\)

D) \(\text{Rs. } 55000\)

Answer

Correct Answer: C

Explanation: Let CP \(= x\). \(x \times 1.10 \times 1.20 \times 0.85 = 56100\). \(1.10 \times 1.20 = 1.32\). \(1.32 \times 0.85 = 1.122\). \(1.122x = 56100 \implies x = 50000\).

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 \(\text{Rs. } 3000\) for it, what was the cost price of the scooter for X?

A) \(\text{Rs. } 1800\)

B) \(\text{Rs. } 2000\)

C) \(\text{Rs. } 2200\)

D) \(\text{Rs. } 2400\)

Answer

Correct Answer: B

Explanation: Let X's CP \(= x\). \(x \times 1.20 \times 1.25 = 3000\). \(x \times 1.50 = 3000 \implies x = 2000\).

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: B

Explanation: New SP \(= 3\times\text{SP}\), New CP \(= 2\times\text{CP}\). New Profit \(\% = (3\text{SP} - 2\text{CP}) / 2\text{CP} = 0.65\). \(3\text{SP} - 2\text{CP} = 1.3\text{CP} \implies 3\text{SP} = 3.3\text{CP} \implies \text{SP}/\text{CP} = 1.1\). Present profit is \(10\%\).

Question 19

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

A) \(4\%\)

B) \(5\%\)

C) \(6\%\)

D) \(8\%\)

Answer

Correct Answer: B

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

Question 20

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

A) \(\text{Rs. } 1100\)

B) \(\text{Rs. } 1150\)

C) \(\text{Rs. } 1200\)

D) \(\text{Rs. } 1250\)

Answer

Correct Answer: C

Explanation: Profit \(= 1060 - \text{CP}\). Loss \(= \text{CP} - 950\). \(1060 - \text{CP} = 1.2(\text{CP} - 950)\). \(1060 - \text{CP} = 1.2\text{CP} - 1140 \implies 2.2\text{CP} = 2200 \implies \text{CP} = 1000\). Target SP \(= 1000 \times 1.20 = 1200\).

Advanced Profit & Loss Quiz: Master Bank PO Clerk Aptitude | Concept of Maths

Advanced Profit & Loss Quiz: Master Bank PO Clerk Aptitude | Concept of Maths

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4. A merchant earns a profit of \(20\%\) by selling an article. If he had bought it at \(10\%\) less and sold it for \(\text{Rs. } 18\) 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 \(\text{Rs. } 150\) 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 \(\text{Rs. } 7500\), and allows successive discounts of \(15\%\) and \(10\%\). He spends \(\text{Rs. } 137.50\) on transport and sells it for \(\text{Rs. } 6500\). What is his profit percentage?

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

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

10. Ram buys \(4\) chairs and \(3\) tables for \(\text{Rs. } 2100\). He sells the chairs at \(10\%\) profit and tables at \(20\%\) profit. His total profit is \(\text{Rs. } 330\). 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 \(\text{Rs. } 400\), what is the cost price?

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

13. A man buys oranges at \(5\) for \(\text{Rs. } 10\) and sells them at \(6\) for \(\text{Rs. } 15\). 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 \(\text{Rs. } 150\) less. Find the cost price.

15. Two lots of onions with equal quantity, one costing \(\text{Rs. } 10\text{ per kg}\) and the other costing \(\text{Rs. } 15\text{ per kg}\), are mixed together and the whole lot is sold at \(\text{Rs. } 15\text{ per kg}\). 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 \(\text{Rs. } 56,100\) 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 \(\text{Rs. } 3000\) 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 \(26\text{ kg}\) of rice at \(\text{Rs. } 20\text{ per kg}\) with \(30\text{ kg}\) of rice of another variety at \(\text{Rs. } 36\text{ per kg}\) and sells the mixture at \(\text{Rs. } 30\text{ per kg}\). His profit percent is:

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

Advanced Profit & Loss Quiz for Bank PO (IBPS/SBI) | Concept of Maths

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

2. A person bought two articles A and B for \(\text{Rs. } 5000\). 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 \(\text{Rs. } 160\), a person loses \(20\%\). How many pens should be sold for \(\text{Rs. } 96\) to make a profit of \(20\%\)?

Advanced Profit & Loss Quiz: Master Bank PO Clerk Aptitude | Concept of Maths

Advanced Profit & Loss Quiz: Master Bank PO Clerk Aptitude | Concept of Maths

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4. A merchant earns a profit of \(20\%\) by selling an article. If he had bought it at \(10\%\) less and sold it for \(\text{Rs. } 18\) 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 \(\text{Rs. } 150\) 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 \(\text{Rs. } 7500\), and allows successive discounts of \(15\%\) and \(10\%\). He spends \(\text{Rs. } 137.50\) on transport and sells it for \(\text{Rs. } 6500\). What is his profit percentage?

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

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

10. Ram buys \(4\) chairs and \(3\) tables for \(\text{Rs. } 2100\). He sells the chairs at \(10\%\) profit and tables at \(20\%\) profit. His total profit is \(\text{Rs. } 330\). 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 \(\text{Rs. } 400\), what is the cost price?

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

13. A man buys oranges at \(5\) for \(\text{Rs. } 10\) and sells them at \(6\) for \(\text{Rs. } 15\). 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 \(\text{Rs. } 150\) less. Find the cost price.

15. Two lots of onions with equal quantity, one costing \(\text{Rs. } 10\text{ per kg}\) and the other costing \(\text{Rs. } 15\text{ per kg}\), are mixed together and the whole lot is sold at \(\text{Rs. } 15\text{ per kg}\). 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 \(\text{Rs. } 56,100\) 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 \(\text{Rs. } 3000\) 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 \(26\text{ kg}\) of rice at \(\text{Rs. } 20\text{ per kg}\) with \(30\text{ kg}\) of rice of another variety at \(\text{Rs. } 36\text{ per kg}\) and sells the mixture at \(\text{Rs. } 30\text{ per kg}\). His profit percent is:

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