Profit and Loss Problems with Solutions for Bank Exams

Profit and Loss Problems with Solutions for Competitive Exams

Q.11. Peter purchased a machine for Rs. 80,000 and spent Rs. 5000 on repair and Rs. 1000 on transport and sold it with 25% profit. At what price did he sell the machine?

Solution

C.P. = Rs. (80000+5000+1000)=86000, Profit = 25%

∴ S.P. = 125% of Rs. 86000

$$= RS \left({125\over100}× 86000\right)=Rs.107500$$

Q.12. By selling an article for Rs. 100, a man gains Rs. 15. Then, his gain% is :

Solution

S.P = Rs. 100, gain = Rs. 15.

∴ C.P = Rs. (100-15)= Rs. 85.

$$  Gain\% =  \left({15\over85}× 100\right)\%={300\over17}\%=17{11\over17}\% $$

Q.13. When a commodity is sold for Rs.34.80, there is a loss of 25%. What is cost price of the commodity? 

Solution

$$CP. = Rs.\left({100\over75}× 34.80\right)=Rs.46.40$$

Q.14. A shopkeeper expects a gain of  on his cost price. If in a weak, his sale was of Rs. 392, what was his profit?

Solution

$$CP. = Rs.\left({100\over122.50}× 392\right)=Rs. \left({1000\over1225}× 392\right)=320$$

Profit = Rs. (392 – 320) = Rs. 72.

Q.15. The sale price of an article including the sales tax is Rs. 616. The rate of sales tax is 10%. If the shopkeeper has made a profit of 12%, then the cost price of the article is:

Solution

110% of S.P = 616

$$→S.P.=\left({616×100\over110}\right)=RS.560$$

  $$∴ C.P=Rs.\left({100\over112}×560\right)=Rs.500$$

Q.16. Saransh purchased 120 reams of paper at Ra. 80 per ream. He spent Rs. 280 on transportation, paid octroi at the rate of 40 paise per ream and paid Rs. 72 to the colie. If he wants to have a gain 8%, what must be the selling price per ream ?

Solution

Total investment 

   $$=RS.\left(120×80+280+{40\over100}×120+72\right)$$

  $$=RS\left(9600+280+48+72\right)=Rs.10000$$

S.P of 120 reams = 108% of Rs. 10000 = Rs. 10800.

∴ S.P per ream $$=RS\left({10800\over120}\right)=Rs.90$$

Q.17. A person bought 20 litres of milk at the rate of Rs. 8 per litre. He got it churned after spending Rs. 10 and 5 kg of cream and 20 litres of toned milk were obtained. If he sold the cream at Rs. 30 per kg and toned milk at Rs 4 per litre, his profit in the transaction is:

Solution

Investment = Rs. (20×8+10)=Rs. 170. Receipt = Rs. (30×5+20×4)=Rs.230.

$$∴Gain\%\left({60\over170}×100\right)\%=35.29\%=35.3%%$$

Q.18. Jacob bought a scooter for a certain sum of money. He spent 10% of the cost on repairs and sold the scooter for a profit of Rs. 1100. How much did he spend on repairs if he made a profit of 20%?

Solution

Let the C.P. be Rs. x. Then, 20% of x = 1100 → =1100→ x = 5500.

C.P. = Rs. 5500, Expenditure on repairs = 10%

$$Actual \ price=Rs.\left({100\over110}×5500\right)=Rs.5000$$

∴ Expenditure on repairs = Rs. (5500 – 5000)=Rs.500.

Q.19. A manufacture undertakes to supply 2000 pieces of a particular component at Rs. 25 per piece. According to his estimates, even if 5% fail to pass the quality tests, then he will make a profit of 25%. However, as it turned out. 50% of the components were rejected. What is the loss to the manufacturer?

Solution

Total cost incurred 

$$=Rs.\left({100\over125}×25×(95\% \ of\ 2000)\right)$$

   $$=Rs.\left({100\over125}×25×1900\right)=Rs.38000.$$

Loss to the manufacturer = Rs. [38000 – (25×1000)]=Rs.13000.

Q.20. A trader buys a chair for Rs. 600 and sells it for Rs. 765 at a credit of 4 months. Reckoning money worth 6% p.a., his gain percent is 

Solution

$$ C.P=Rs.\left(600+{600×6×4\over100×12}×560\right)=Rs.612.$$

  $$Gain = Rs.(765 - 612)=Rs.153.$$

  $$∴Gain\% = \left({153\over612}×100\right)\%=25\%$$

if you face any problem while solving profit and loss questions, you can ask me in the comment section. For more Profit and loss questions and answers, Visit next page.