Govt Exam — Quantitative Aptitude — Profit and Loss
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Q.1
Easy
Profit and Loss
A trader buys mangoes at ₹8 per kg and sells them at ₹12 per kg. What is his profit percentage?
Correct Answer:
B. 50%
Explanation:
Step 1: Identify Cost Price and Selling Price
Cost Price (CP) = ₹8 per kg and Selling Price (SP) = ₹12 per kg
\[\text{CP} = ₹8, \quad \text{SP} = ₹12\]
Step 2: Calculate Profit
Profit = Selling Price − Cost Price
\[\text{Profit} = ₹12 - ₹8 = ₹4\]
Step 3: Calculate Profit Percentage
Profit percentage is calculated as profit divided by cost price, multiplied by 100
\[\text{Profit\%} = \frac{\text{Profit}}{\text{Cost Price}} \times 100 = \frac{4}{8} \times 100 = \frac{1}{2} \times 100 = 50\%\]
The trader's profit percentage is 50%.
Q.2
Easy
Profit and Loss
If an article is purchased for ₹450 and sold at a loss of 8%, what is the selling price?
Correct Answer:
A. ₹414
Explanation:
Step 1: Identify the given information
Cost Price (CP) = ₹450 and Loss = 8%
\[\text{Given: CP} = ₹450, \text{ Loss} = 8\%\]
Step 2: Calculate the loss amount
Loss amount = 8% of Cost Price
\[\text{Loss amount} = \frac{8}{100} \times 450 = 0.08 \times 450 = ₹36\]
Step 3: Calculate the selling price
Selling Price = Cost Price − Loss amount
\[\text{SP} = 450 - 36 = ₹414\]
The selling price of the article is ₹414.
Q.3
Easy
Profit and Loss
A retailer buys notebooks at ₹40 each and sells them at ₹50 each. How many notebooks must he sell to make a profit of ₹600?
Correct Answer:
B. 60
Explanation:
Step 1: Find profit per notebook
The retailer buys at ₹40 and sells at ₹50, so profit on each notebook is the difference.
\[\text{Profit per notebook} = 50 - 40 = ₹10\]
Step 2: Set up equation for total profit
Let the number of notebooks sold be x. The total profit equals profit per notebook multiplied by number of notebooks.
\[\text{Total Profit} = \text{Profit per notebook} \times \text{Number of notebooks}\]
\[600 = 10 \times x\]
Step 3: Solve for number of notebooks
Divide both sides by 10 to find x.
\[x = \frac{600}{10} = 60\]
The retailer must sell 60 notebooks to make a profit of ₹600.
Q.4
Easy
Profit and Loss
A shopkeeper buys a shirt for ₹400 and sells it for ₹520. What is his profit percentage?
Correct Answer:
B. 30%
Explanation:
Step 1: Profit = Selling Price - Cost Price = 520 - 400 = ₹120.
Step 2: Profit% = (Profit/CP) × 100 = (120/400) × 100 = 30%.
So option B is correct.
Q.5
Easy
Profit and Loss
A merchant sells a watch at a loss of 12%. If the cost price is ₹1,500, what is the selling price?
Correct Answer:
B. ₹1,320
Explanation:
Step 1: Loss = 12% of CP = 0.12 × 1,500 = ₹180.
Step 2: SP = CP - Loss = 1,500 - 180 = ₹1,320.
So option B is correct.
Q.6
Easy
Profit and Loss
If an article is sold at ₹810 with a profit of 35%, what was its cost price?
Correct Answer:
A. ₹600
Explanation:
Step 1: Let CP = x. SP = CP + Profit = x + 0.35x = 1.35x.
Step 2: 1.35x = 810, so x = 810/1.35 = ₹600.
So option A is correct.
Q.7
Easy
Profit and Loss
A trader buys 50 kg of sugar at ₹40 per kg and sells it at ₹48 per kg. What is the total profit?
Correct Answer:
C. ₹400
Explanation:
Step 1: Total Cost Price = 50 × 40 = ₹2,000.
Step 2: Total Selling Price = 50 × 48 = ₹2,400.
Step 3: Total Profit = 2,400 - 2,000 = ₹400.
So option C is correct.
Q.8
Easy
Profit and Loss
A merchant buys cloth at ₹450 per meter and sells it at ₹540 per meter. What is the profit percentage?
Correct Answer:
B. 20%
Explanation:
Step 1: Cost Price (CP) = ₹450 per meter.
Step 2: Selling Price (SP) = ₹540 per meter.
Step 3: Profit = SP - CP = 540 - 450 = ₹90.
Step 4: Profit% = (Profit/CP) × 100 = (90/450) × 100 = 20%.
So option B is correct.
Q.9
Easy
Profit and Loss
If an article costs ₹640 and is sold at a loss of 8%, what is the selling price?
Correct Answer:
B. ₹588.80
Explanation:
Step 1: Cost Price = ₹640.
Step 2: Loss = 8% of 640 = 0.08 × 640 = ₹51.20.
Step 3: Selling Price = CP - Loss = 640 - 51.20 = ₹588.80.
So option B is correct.
Q.10
Easy
Profit and Loss
A mobile phone is sold for ₹18,900 at a profit of 35%. What is its cost price?
Correct Answer:
B. ₹14,000
Explanation:
Step 1: Selling Price = ₹18,900 and Profit = 35%.
Step 2: CP = SP / (1 + Profit%/100) = 18,900 / 1.35 = ₹14,000.
Step 3: Verification: Profit = 14,000 × 0.35 = ₹4,900; SP = 14,000 + 4,900 = ₹18,900 ✓.
So option B is correct.