Must Solve Profit
and Loss Questions for SSC/RRB Exams
1. A shopkeeper earns a profit equal to the selling price of
7 bags by selling 23 bags. What is the profit percentage?
a) 43.75 percent
b) 30.4 percent
c) 60.8 percent
2. A trader bought two cow for Rs. 19,500. He sold one at a
loss of 20% and the other at a profit of 15%. If the selling price of each cow
is the same, then their cost prices are respectively
a) Rs. 10,000 and Rs. 9,500
b) Rs. 11,500 and Rs. 8,000
c) Rs. 12,000 and Rs. 7,500
d) Rs. 10,500 and Rs. 9,000
3. Manish and Hari started a business investing amounts in
the ratio of 2 : 3 respectively. If Manish had invested an additional amount of
Rs. 10000, the ratio of Manish’s investment to Hari’s investment would have
been 3 : 2. What was the amount invested by Manish initially?
a) Rs. 8000
b) Rs. 12000
c) Rs. 18000
d) Rs. 4000
4. The cost price of 8 pens is equal to selling price of 6
pens. What is the profit/loss percent?
a) 33.33%
b) 25%
c) 30%
d) 50%
5. A shopkeeper sells a radio on a discount of 8% on marked
price and gains a profit of Rs. 25%. If marked price was Rs. 20,000 then, what
was the cost price?
a) Rs. 14,750
b) Rs. 14,552
c) Rs. 14,720
d) Rs. 14,850
6. On allowing a discount of 20% on its marked price, the
value of a watch is Rs.1600. If no discount is allowed, the shopkeeper gains
25%. What is the cost price of the watch?
a) Rs.1600
b) Rs.1400
c) Rs.1296
d) Rs.1200
7. A shopkeeper sells a watch at a loss of 12 1/2%. Had he sold the article for Rs. 63
more, he would have earned a profit of 10%. The cost price of the article is
a) 280
b) 580
c) 370
d) 450
8. The marked price of a table is Rs. 12,000. If it was sold
for Rs. 10,500 after allowing a certain discount, then the rate of discount is
a) 17.5%
b) 10%
c) 12.5%
d) 15%
9. An oven when sold for Rs. 16,756, the profit earned is
18%. What is the cost price of the Oven?
a) Rs. 14,200
b) Rs. 14,400
c) Rs. 15,200
d) Rs. 14,800
10. ‘A’ sells an article to ‘B’ at a profit of 20% and ‘B’
sells it to ‘C’ at a profit of 25%. If ‘C’ pays Rs. 1,200, the cost price of
the article originally (in Rs.) is
a) 700
b) 600
c) 1,000
d) 800
Solutions:
1. A) Let the SP of 1 bag be ‘x’.
⇒ SP of 7 bags = 7x = profit
⇒ SP of 23 bags = 23x
Now, profit = SP – CP⇒ CP = SP – Profit = 23x – 7x = 16x
⇒ Profit % = ((SP – CP) /CP) × 100
⇒ ((23x – 16x) /16x) × 100
⇒ 43.75%
2. B) ⇒ Let the cost of 1st cow
be x then the cost of 2nd cow be y
⇒ Total cost of cow = 19,500 = x + y
------ 1
⇒ one sold at 20% loss and other at other at 15% profit
⇒ Selling at 20% loss (S. P1) = x - 20% of x
⇒ S. P1 = 0.8x
⇒ Selling at 15% profit (S. P2) = y + 15% of y
⇒ S. P2 = 1.15y
⇒ Selling Price is equal
⇒ 0.8x = 1.15y
⇒ x = (1.15/0.8) × y
⇒ x = 1.4375y
⇒ putting the value of x in equation 1 we have
⇒ 1.4375y + y = 19,500
⇒ 2.4375y = 19,500
⇒ y = 19,500/2.4375
∴ y = 8000
⇒ then x = 19,500 - 8000
∴ x = 11,500
3. A) Let the initial investment by Manish be Rs. 2x and by Hari be Rs. 3x
Now, if Manish had
invested R. 10000 more, his investment would be Rs. 2x + 10000
Now, according to the
question, (2x + 10000)/3x = 3/2
⇒ x = 20000/5 = 4000
∴ the amount invested by Manish initially = Rs. 2x = Rs. 8000
4. A) Let cost price of one pen = Rs. 1,
Cost price of 8 pens =
Rs. 8,
Cost price of 6 pens =
Rs. 6
Selling price of 6 pens =
cost price of 8 pens = Rs. 8
Profit gained = SP – CP =
Rs. (8 – 6) = Rs. 2
We know that, formula:
Profit percentage =
(Profit/CP) × 100%
∴ Profit percent = (2/6) × 100% = 33.33%
Hence, the required
profit percentage is 33.33%.
Note: it is not possible to find amount of
profit/loss, because we neither know CP nor SP. They could take any values.
Alternate Method
(Short trick):
CP of 8 pens = SP of 6
pens
CP of 1 pen × 8 = SP of 1
pen × 6
⇒ CP/SP = 6/8 hence, there is a profit.
Now, let CP = Rs. 6 then
SP = Rs. 8
Profit = SP – CP = Rs. (8
– 6) = Rs. 2
∴ Profit percent = (2/6) × 100% = 33.33%
5. C) Given that,
Discount = 8% of marked
price
= Rs. {20000 × 8/100} =
Rs. 1600
∴ Selling price = Marked price – discount = Rs. (20,000 – 1600) = Rs. 18,400
Now, according to the
question, a profit of 25% is gained on selling the radio.
We know that, formula:
Profit percentage =
(Profit/CP) × 100%
∴ Required CP = Rs. {18400 × 100/125} = Rs. 14,720.
Hence, the cost price of
the radio was Rs. 14,720.
6. A) Let the marked price of the watch be M and the cost price be C.
On allowing a discount of
20%, we have the selling price to be Rs.1600.
⇒1600 = M(1 − 20/100) = M × 4/5 = 4/5M ⇒ M=2000
It is given that if the
watch is sold at the marked price, the profit percentage would be 25%,
⇒25/100 = (2000 − C)/C
⇒ 1/4 = (2000 – C)/C
⇒ C = 8000 – 4C ⇒ 5C = 8000 ⇒ C = 1600
7. A) Let the cost price of the article be
C, and the selling price be S.
Loss% = (C – S)/C =>
12.5/100 = (C – S)/C ⇒ C = 8C – 8S ⇒ 8S =
7C ⇒ S = 7C/8
Given, had he sold
Rs.63 more, he would have earned a profit of 10%.
10/100 = (S + 63) – C/C ⇒ C = 10S + 630 – 10 ⇒ 11C – 10S = 630
⇒ 11C – 10 × 7/8C = 630 ⇒ 11C – 35/4C = 630 ⇒ (44C – 35C)/4 = 630 ⇒ 9C/4 = 630 ⇒ C = 280
8. C) The marked price of the table is Rs. 12,000.
It is sold for Rs. 10,500
after allowing a certain discount.
∴ Discount offered: = marked price – selling price = Rs. 12000
– Rs. 10500 = Rs. 1500
Discount offered = Rs.
1500 when marked price of the table is Rs. 12,000.
Then the rate of discount
is:
= 1500/12000 * 100 =
12.5%
9. A) Let the original cost of the oven be x.
An oven when sold for Rs.
16,756, the profit earned is 18%.
SP = CP + profit
⇒ x + (18/100 * x) = 16756
⇒ 118x / 100 = 16756 ⇒ x = (16756 × 100)/118 ⇒ x = Rs. 14200
10. D) Let the cost price of the article be ‘x’.
A sells it to B at a
profit of 20%.
We know that,
Selling price = Cost
price + Profit
Profit = 20x/100
⇒ Selling price of A = x + 0.2x = 1.2x
Selling price of A = Cost
price of B
B had a profit of 25%.
B’s profit = 25/100 *
1.2x = 0.3x
Selling price of B = 1.2x
+ 0.3x = 1.5x
As per problem,
⇒ 1.5x = 1200 ⇒ x = 800.
Original cost price = Rs.
800.
