## Profit & Loss Solved Questions For IBPS, SBI and Other Bank Exams - Page 7

Profit & Loss Solved Questions (Page 7 of 7)

**Question 1**

A shopkeeper bought 480 gift articles at the rate of Rs. 18000. He sold each one of them at the rate of Rs. 66. What was his profit percentage?

a) 68% b) 76% c) 81% d) 69%

**Answer :** b) 76%

Solution :

Cost price of 480 articles = Rs 18000

Then C.P of each article = Rs. 18000/480 = Rs. 37.5

S.P of each article = Rs.66

Therefore profit % = {(S.P - C.P)/C.P}x100 %

= (66-37.5)x100/37.5 %

= (28.5x100)/37.5 %

= 2850/37.5 = 76 %

Hence the required profit is 76%.

**Question 2**

A man buys a computer for Rs. 28000 and sells it at a loss of 30%. What is the selling price of the computer?

a) Rs.21100 b) Rs.18900 c) Rs.22800 d) Rs.19600

**Answer : **d) 19600

Solution :

Cost price of the computer = Rs.28000

Given loss % = 30%

Loss amount = 30 x 28000/100 = Rs.8400

Therefore, selling price = cost price - loss = Rs. 28000 - 8400 = Rs.19600.

Alter method:

We know that, "If an item sold at X% of loss, then its S.P = (100-X)% of C.P"

Here, X = 30 and C.P = 28000

Then, S.P = (100-30)% of 28000 = 70x28000/100 = Rs.19600

**Question 3**

A man purchased 8 Electronic items at Rs.1000 per item. He spent Rs.5000 on repair and Rs.1000 on transportation of these items. What should be the selling price of each item if he wants to make 255 as profit?

a) 2600 b) 2550 c) 2570 d) none of these

**Answer : **d) none of these

Solution :

Cost price of each item = Rs. 1000

Then, cost price of 8 items = Rs.8000

The amount that he spent on repair and transportation = Rs. 5000 + Rs. 1000 = Rs.6000

Therefore, the total cost price of 8 items = Rs.8000 + Rs 6000 = Rs.14000

Given profit, 25%

We know that, if profit = X% then S.P = (100+X)% of C.P

Therefore, selling price of 8 items = (100+25)% of 14000 = 125x14000/100 = Rs.17500

And the S.P of each item = Rs.17500/8 = Rs.2187.5.

Hence the required answer is option d.

**Question 4**

When an article is sold for Rs. 312.96, there is a loss of 4%. What is the cost price of the article?

a) Rs.321 b) Rs.322.5 c) Rs.323.75 d) Rs.326

**Answer : **d) Rs.326

Solution :

Given that, the selling price of the article = Rs. 312.96

Loss = 4%

We know that, "If an item sold at X% of loss, then its S.P = (100-X)% of C.P"

Here X = 4 and S.P = Rs.312.96

Therefore, 312.96 = (100-4)% of C.P = (96/100)xC.P

C.P = 312.96x100/96 = 326.

Hence the required Cost price is Rs.326

Profit & Loss Solved Questions (Page 7 of 7)