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Profit & Loss Problems To Prepare For IBPS Exams

Dear Reader,
Below are four different problems on Profit and Loss calculations.

Question 1

A man bought some goods for Rs.11,200 and sold them at 3/8 th of its cost price. Find whether he had earned profit or loss(Percentage) ?

a) Loss of 62.5 % b) Gain of 62.5 % c) Loss of 12.4% d) None of these.

Answer : a) Loss of 62.5 %

Solution :

Cost price of the goods = Rs.11,200
Selling price of the goods = Rs.11,200 x 3/8 = Rs.4200
Then, loss = Rs.11200 - 4200 = Rs.7000
Loss percentage = 7000 x 100 / 11200 = 62.5%.

Question 2

A man sold an item by 23% more than its cost price and the selling price is Rs.14022 then the cost price of the item is:

a) Rs.11400 b) Rs.14700 c) Rs.13200 d) Rs.11210

Answer : a) Rs.11400

Solution :

Selling price of the item is 23% more than the cost price i.e., 123% of cost price.
Given that the item is sold at Rs.14022.
we can write the above statement as, Rs.14022 = 123/100 x Cost price
Cost price = Rs.14022 x 100 / 123 = Rs.11400
Hence the answer is Rs.11400.

Question 3

Cost price of 32 pens is same as the selling price of 24 pens. Then profit % is:

a) 33% b) 121/3% c) 31/3% d) 100/3%

Answer : d) 100/3%.

Solution :

The gain is 8 out of 24 Pens.

Therefore, gain percentage = 8 x 100 / 24 = 100/3%.

Question 4

A girl bought a book for Rs.450 and sold it at 20% profit. By using that amount she bought another book and sold it at 5% loss. Then overall profit amount is:

a) Rs.102 b) Rs.132 c) Rs.58 d) Rs.63

Answer : d) Rs.63

Solution :

Cost Price of 1st book = Rs.450.
Profit % of 1st book = 20% profit
Selling price of 1st book = Cost Price of 1st book + Profit % of 1st book
= Rs.450 + 20% of 450 = Rs.540

Cost price of 2nd book = Rs.540
Loss % of 2nd book = 5%
Selling price of 2nd book = Cost Price of 1st book + Profit % of 1st book
= Rs.540 - 5% of 540 = Rs.513
Overall profit = Rs.513 - Rs.450 = Rs.63

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