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Profit & Loss Solved Questions For IBPS, SBI and Other Bank Exams - Page 1

You will find 26 problems in 7 pages..

Profit & Loss Solved Questions (Page 1 of 7)

Dear Reader,

Below you will find important formulas of profit & loss problems. Following that you will find solved questions. These questions will help you in preparation for all bank exams including IBPS, SBI, RRB and other banks.

Introduction to Profit & Loss:

Cost Price : The price at which an article is purchased, is called its cost price, abbrevated as C.P.

Selling Price : The price at which an article is sold, is called its selling price, abbrevated as S.P.

Profit or Gain = (S.P.) - (C.P.)

Loss = (C.P.) - (S.P.)

Question 1

Ramu buys 3 dozen tomatoes for Rs. 360. He buys carry bags to take them to his shop. Only one dozen can be filled into a carry bag and cost of each carry bag is Rs.10. He then sells the tomatoes along with carry bags for a cost of 200 per dozen. What is his profit percentage.

a. 53.84%
b. 60%
c. 56.67%
d. 63.84%
e. 72%

Answer : a. 53.84%

Cost of 3 dozens of tomatoes is Rs. 360
Cost of 1 carry bag = Rs. 10. Therefore, three of them cost Rs. 30
Overall CP of tomatoes = 360 + 30 = Rs. 390
SP of each dozen of tomatoes = Rs. 200
Therefore SP of three dozens = 600
Profit percentage = (SP - CP) / CP x 100% = (600 - 390)/390 x 100% = 210/390x 100% = 2100/39 % = 53.84%


Question 2

Ravi buys a second hand car for Rs. 2,00,000. He then repaints it for Rs. 2000. He attaches new threading to all 4 tyres. Cost of threading per tyre is Rs. 200. At what price he should resell the car so that he gains 10%.

a. Rs. 223080
b. Rs. 223090
c. Rs. 232080
d. Rs. 223880
e. Rs. 223070

Answer : a. Rs. 223080

Cost of second hand car = Rs. 2,00,000
Repainting cost = Rs. 2000
Cost of threading per tyre = Rs. 200
Cost of threading for all tyres = Rs. 200 x 4 = Rs. 800
Total costs involved = Actual cost + Repainting costs + Threading costs = 2,00,000 + 2000 + 800 = 202800

Profit Percentage = 10% = (SP - CP)/CP x 100%

Or 10% = (SP - 202800)/202800 x 100%
Or 10 = (SP - 202800)/2028
Or SP = 20280 + 202800 = 223080


Question 3

Suresh has four toys in his shop. He sells three toys at a profit percentage of 10%. What should be the profit percentage on his fourth toy so that his overall profit percentage jumps to 15%.

a. 20%
b. 30%
c. 15%
d. 70%
e. 10%

Answer : 30%

Let the CP of each toy be Rs. 100. Therefore CP on all 4 toys = Rs. 400

SP on each of the first three toys = Rs. 110 (as it is given that the profit percentage is 10)

Therefore SP of first three toys = Rs. 110 x 3 = Rs. 330

Let the profit percentage on 4th toy be P%

Therefore SP of fourth toy = Rs. 100 + P

SP of all 4 toys = Rs. 330 + 100 + P = Rs. 430+P

Overall profit percentage = 15% = SP of 4 toys - CP of 4 toys / CP of 4 toys x 100% = 430+P-400/400 x 100%

Or 15 = 30+P/4
Or 30 + P = 60
Or P = 30

Therefore profit percentage on fourth toy = 30%


Question 4

Thomas buys 4 washing machines at a cost of Rs 20,000 per machine. He sells first machine at a profit percentage of 25%. What should be his loss percentage on remaining three washing machines so that his overall profit/loss on sale of all 4 machines is nil.

a. Rs. 55050
b. Rs. 55000
c. Rs. 56000
d. Rs. 50000
e. Rs. 55040

Answer : b. Rs. 55000

CP of all 4 machines = CP of each machine x 4 = Rs. 20,000 x 4 = Rs. 80,000

Profit percentage on first machine = 25%
CP of first machine = Rs. 20,000
Therefore profit percentage = 25% = SP - 20000/20000 X 100%
Or 25 = SP - 20000/200
Or SP of first washing machine = 25000
Let SP of remaining three machines be Rs. L
Therefore SP of all four machines = SP of first machine + SP of remaining machines = 25000+L
Profit percentage on all 4 machines = 0% = SP of all 4 - CP of all 4 / CP of all 4 x 100%

Or 0 = (25000 + L - 80000) / 80000 x 100%
Or 0 = 25000 + L - 80000
Or L = Rs. 55000


Profit & Loss Solved Questions (Page 1 of 7)

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