Profit and Loss Practice Test Sample Paper - 1 with Answer Key and Solution [Quantitative Aptitude]- Download in PDF

Here is solved questions of profit and loss [quantitative aptitude] for SBI PO and IBPS exams. profit and loss related questions are asked in almost all entrance examinations and candidates need to practice this section very hard to score good marks and hence good position in merit list. You can also download this question paper in PDF to save it for future references or take print out.

 

Profit and Loss [Quantitative Aptitude] Model Test Paper - 1

 

Maximum Marks: 10           Duration: 10 Mins

Q.1. A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?

A) Rs. 1090
B) Rs. 1160
C) Rs. 1190
D) Rs. 1202
E) None of these

Explanation (Show/Hide)

CP = 1400
Loss = 15% of CP = (15/100) * 1400 = 210
SP = CP - Loss = 1400 - 210 = 1190.

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Q.2. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repair. If he sells the scooter for Rs. 5800, his gain percent is:

A) 4 4/7%
B) 5 5/11%
C) 10%
D) 12%
E) None of these

Explanation (Show/Hide)

Total CP = 4700 + 800 = 5500
SP = 5800
Gain = SP - CP = 5800 - 5500 = 300. Gain percent = (Gain*100) / CP = (300*100)/5500
Gain percent = 60/11 = 5 5/11%

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Q.3. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

A) Rs. 45
B) Rs. 50
C) Rs. 55
D) Rs. 60
E) None of these

Explanation (Show/Hide)

Let cost price of a ball = x, selling price of one ball = y
On selling 17 balls, SP of 17 balls = 17y = 720
Loss on 17 balls = CP - SP = 17x - 17y = 5x.
=> 12x = 17y = 720
x = 60

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Q.4. A man bought some fruits at the rate of 16 for Rs. 24 and sold them at the rate of 8 for Rs. 18. What is the profit percent?

A) 25%
B) 40%
C) 50%
D) 60%
E) None of these

Explanation (Show/Hide)

CP of 1 fruit = 24/16 = 1.5
SP of 1 fruit = 18/8 = 2. 25
Profit = SP - CP = 2.25 - 1.5 = 0.75
Profit percent = (Profit * 100)/ CP = (0.75*100)/1.5 = 50%

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Q.5. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

A) 15
B) 16
C) 18
D) 25
E) None of these

Explanation (Show/Hide)

Let CP of one article = 100
Profit = 25% of 100 = 25
SP of one article = 125
According to question 20*100 = x*125
=> x = 16.

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Q.6. By selling 12 toffees for a rupee, a man loses 20%. How many for a rupee should he sell to get a gain of 20%?

A) 5
B) 8
C) 10
D) 15
E) None of these

Explanation (Show/Hide)

SP of 12 toffees = 1, Loss = 20%
CP of 12 toffees = {100/(100-loss%)} * SP = (100/80) * 1 = 5/4
SP of 12 toffees for gain of 20% = {(100 + Gain%)/100} * CP = (120/100)*(5/4) = 3/2.
As he will sell 12 for 3/2 so in one Rs. 12 * (2/3) = 8 toffees.

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Q.7. The ration between the sale price and the cost price of an article is 7:5. What is the ration between the profit and the cost price of that article?

A) 2:7
B) 5:2
C) 7:2
D) Data inadequate
E) None of these

Explanation (Show/Hide)

SP/CP = 7/5
SP = CP + P => (CP + P)/CP = 7/5
1 + P/CP = 7/5
P/CP = 7/5 - 1 = 2/7.

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Q.8. When a plot is sold for Rs. 18700, the owner loses 15%. At what price must the plot be sold in order to gain 15%?

A) Rs. 21000
B) Rs. 22500
C) Rs. 25300
D) Rs. 25800
E) None of these

Explanation (Show/Hide)

85 : 18700 = 115 : x
x = 25300.

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Q.9. If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is:

A) 25%
B) 33 1/3%
C) 50%
D) 66 2/3%
E) None of these

Explanation (Show/Hide)

Let CP of a pen = x, SP of a pen = y
12 x = 8 y => y/x = 3/2
Gain% = {(y - x)/x} * 100 = (y/x - 1) * 100 = (3/2 - 1) * 100
Gain % = 50 %.

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Q.10. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other varity at Rs. 36 per kg and sells the mixture at Rs. 30 per Kg. His profit percent is :

A) No profit, no loss
B) 5%
C) 8%
D) 10%
E) None of these

Explanation (Show/Hide)

Total CP of 56 Kg of mixed rice = 26*20 + 36*30 = 1600
SP of 56 Kg of rice = 56 * 30 = 1680
Gain = 1680 - 1600 = 80
Gain percent = 80/1600 = 5%.

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