Profit and Loss Questions for Competitive Exams
A house and a shop were sold for Rs. 1 lakh each, In this transaction, the house sale resulted into 20 % loss whereas the shop sale into 20 % profit. The entire transaction resulted in:
(A) no loss no gain
(B) gain of Rs. $$ {1\over24}$$
(C) loss of Rs.$$ {1\over12}$$ lakh
(D) loss of$$ {1\over18}$$ lakh
Correct Answer : C
Cost of 24 bats and 32 sticks is Rs 5600. What is the price of 3 bats and 4 sticks?
(A) Rs 1400
(B) Rs 2800
(C) Rs 700
(D) Data Inadequate
(E) None of these
Correct Answer : C
If a chair sold for Rs. 600 at the profit of 20%, then the original price of the chair is:
(A) Rs. 540
(B) Rs. 500
(C) Rs. 480
(D) Rs. 580
Correct Answer : B
If a man estimates his loss as 20% of the selling price, then his loss percent is:
(A) 20%
(B) 25%
(C) 40/3%
(D) 50/3%
Correct Answer : D
A trader bought 10 kg of apples for Rs. 405 out of which 1 kg of apples were found to be rotten. If he wishes to make a profit of 10 % at what rate should he sell the remaining apples per kg?
(A) 49.5
(B) 48
(C) 46
(D) 47
Correct Answer : A
A trader had 2000 kgs of rice. He sold a part of it at 10 % profit and the rest at 16 % profit so that he made a total profit of 14.2%. How much rice (in kg) did he sell at 10 % profit?
(A) 1400
(B) 600
(C) 800
(D) 1000
Correct Answer : B
An oil refinery buys oil at Rs 3600 per barrel. There is 10 % wastage. If the refinery wants to earn 5% profit then at what price should it sell including 8 % tax on selling price? (in Rs per barrel)
(A) 3674
(B) 3711
(C) 4219
(D) 4536
Correct Answer : D
By selling a pen for Rs 105 there is a loss of 30%. At what price (in Rs) the pen must be sold in order to gain 30%?
(A) 215
(B) 165
(C) 195
(D) 200
Correct Answer : C
By selling an article for Rs. 700 a man lost 30 %. At what price should he have sold it to gain 30%?
(A) Rs . 910
(B) Rs . 1200
(C) Rs . 1232
(D) Rs . 1300
Correct Answer : D
If an article is sold at 200 % profit then the ratio of its cost price to its selling price will be
(A) 1 : 2
(B) 2 : 1
(C) 1 : 3
(D) 3 : 1
Correct Answer : C