If the simple interest on Rs. 1000 for 2 years at rate R% per annum is Rs. 200, find the rate R.

The correct answer is C: 10%. SI = (P × R × T)/100. 200 = (1000 × R × 2)/100. R = 10%

A boat's speed in still water is 12 km/h and the speed of current is 3 km/h. How long will it take to travel 60 km downstream?

The correct answer is A: 4 hours. Downstream speed = 12 + 3 = 15 km/h. Time = 60/15 = 4 hours

A principal amount becomes ₹20,000 in 2 years and ₹24,000 in 4 years at compound interest compounded annually. What is the principal amount and rate of interest?

The correct answer is B: P = ₹16,666.67, R = 10%. Step 1: Let P(1 + r/100)^2 = 20000 and P(1 + r/100)^4 = 24000. Step 2: Dividing second by first: (1 + r/100)^2 = 24000/20000 = 1.2. Step 3: (1 + r/100) = √1.2 ≈ 1.0954, so r ≈ 9.54% ≈ 10% (approximately). Step 4: P = 20000/(1.1)^2 = 20000/1.21 ≈ ₹16,666.67. So option B is correct.

Two pipes A and B fill a tank in 20 and 30 minutes respectively. A leak empties it in 60 minutes. How long to fill the tank with all three?

The correct answer is A: 15 minutes. Rate = 1/20 + 1/30 - 1/60 = 3/60 + 2/60 - 1/60 = 4/60 = 1/15. Time = 15 minutes.

A number has remainder 4 when divided by 9 and remainder 5 when divided by 11. Find the number if it is less than 200.

The correct answer is B: 49 and 148. We need to find numbers that satisfy two remainder conditions simultaneously. This is a **Chinese Remainder Theorem** problem. **Step 1: Set up the congruence equations** Given conditions: \[n \equiv 4 \pmod{9}\] \[n \equiv 5 \pmod{11}\] From the first condition, we can write: \[n = 9k + 4 \text{ fo

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Quantitative Aptitude
Profit and Loss

Quantitative aptitude questions for competitive exams

34 Q 7 Topics Take Mock Test

Difficulty: All Easy Medium Hard 11–20 of 34

Topics in Quantitative Aptitude

All Numbers 496 HCF and LCM 150 Profit and Loss 103 Time and Work 102 Percentage 102 Simple Interest 50 Average 48

Q.11 Easy Profit and Loss

A shopkeeper buys two items for ₹1,000 each. He sells one at 20% profit and the other at 15% loss. What is his net profit/loss?

A ₹25 profit

B ₹50 profit

C ₹50 loss

D ₹100 profit

Correct Answer: B. ₹50 profit

EXPLANATION

Item 1 SP = 1,000 × 1.2 = ₹1,200. Item 2 SP = 1,000 × 0.85 = ₹850. Total SP = ₹2,050. Total CP = ₹2,000. Net profit = ₹50.

Test

Q.12 Easy Profit and Loss

A person buys 3 kg of sugar for ₹150 and sells 2 kg for ₹120. What is his profit/loss percentage?

A 20% profit

B 20% loss

C 25% profit

D No profit no loss

Correct Answer: A. 20% profit

EXPLANATION

CP per kg = 150/3 = ₹50. SP per kg = 120/2 = ₹60. Profit per kg = ₹10. Profit% = 10/50 × 100 = 20%.

Test

Q.13 Easy Profit and Loss

If selling price of an item is 4/3 times its cost price, what is the profit percentage?

A 25%

B 30%

C 33.33%

D 40%

Correct Answer: C. 33.33%

EXPLANATION

SP = (4/3)CP. Profit = SP - CP = (4/3)CP - CP = (1/3)CP. Profit% = (1/3)/(CP) × 100 = 33.33%.

Test

Q.14 Easy Profit and Loss

The cost price of 12 items equals the selling price of 10 items. Find profit percentage.

A 15%

B 16.67%

C 20%

D 25%

Correct Answer: C. 20%

EXPLANATION

Let CP of 1 item = x. Then 12x = 10 × SP. SP = 1.2x. Profit = 20%.

Test

Q.15 Easy Profit and Loss

A man buys books at 5 for ₹400 and sells at 4 for ₹400. What is his profit percentage?

A 20%

B 25%

C 30%

D 15%

Correct Answer: B. 25%

EXPLANATION

CP per book = 400/5 = ₹80. SP per book = 400/4 = ₹100. Profit = 20/80 × 100 = 25%.

Test

Q.16 Easy Profit and Loss

A trader marks goods at 60% above cost price and allows a discount of 25%. What is his profit percentage?

A 15%

B 20%

C 25%

D 35%

Correct Answer: B. 20%

EXPLANATION

Let CP = 100. MP = 160. SP = 160 × 0.75 = 120. Profit = 20%.

Test

Q.17 Easy Profit and Loss

By selling an item for ₹432, a shopkeeper loses 10%. At what price should he sell to gain 20%?

A ₹576

B ₹588

C ₹600

D ₹648

Correct Answer: A. ₹576

EXPLANATION

SP = ₹432 at 10% loss. CP = 432/0.9 = ₹480. For 20% profit: SP = 480 × 1.2 = ₹576.

Test

Q.18 Easy Profit and Loss

A merchant bought goods for Rs. 2000 and sold them at a loss of 15%. At what price did he sell?

A Rs. 1700

B Rs. 1800

C Rs. 1650

D Rs. 1600

Correct Answer: A. Rs. 1700

EXPLANATION

When a merchant sells goods at a loss, the selling price is reduced from the cost price by the loss percentage. We use the formula: \(\text{Selling Price} = \text{Cost Price} \times \left(1 - \frac{\text{Loss\%}}{100}\right)\)

Step 1: Identify the given information

- Cost Price (CP) = Rs. 2000

- Loss = 15%

Step 2: Apply the loss formula

When there is a loss of 15%, the selling price is 85% of the cost price:

\text{Selling Price} = \text{CP} \times \left(1 - \frac{15}{100}\right)

Step 3: Simplify the percentage

\text{Selling Price} = 2000 \times \left(\frac{100 - 15}{100}\right) = 2000 \times \frac{85}{100}

Step 4: Calculate the selling price

\text{Selling Price} = 2000 \times 0.85 = 1700

Answer: The merchant sold the goods at Rs. 1700 (Option A)

Test

Q.19 Easy Profit and Loss

If a vendor sells bananas at a loss of 15% and the cost price is ₹500 per kg, at what price does he sell per kg?

A ₹415

B ₹425

C ₹420

D ₹435

Correct Answer: B. ₹425

EXPLANATION

Step 1: Loss = 15% of CP = 15% of 500 = ₹75.

Step 2: Selling Price = CP - Loss = 500 - 75 = ₹425 per kg.

So option B is correct.

Test

Q.20 Easy Profit and Loss

A merchant buys a shirt for ₹240 and sells it for ₹312. What is the profit percentage?

A 25%

B 30%

C 32%

D 28%

Correct Answer: B. 30%

EXPLANATION

Step 1: Profit = Selling Price - Cost Price = 312 - 240 = ₹72.

Step 2: Profit% = (Profit/CP) × 100 = (72/240) × 100 = 30%.

So option B is correct.

Test

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Quantitative Aptitude Profit and Loss

Quantitative Aptitude
Profit and Loss