Aptitude : Profit and Loss for PA / SA Exam

Profit and Loss Aptitude for PA/ SA Exam 

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

A. 4 4 % 7 B. 5 5 % 11 C. 10% D. 12% Answer & Explanation Answer: Option B Explanation: Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500. Selling Price (S.P.) = Rs. 5800. Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300. Gain % = 300 x 100 % = 5 5 % 5500 11

2. 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 Answer & Explanation Answer: Option B Explanation: Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x. S.P. of x articles = Rs. 20. Profit = Rs. (20 - x). 20 - x x 100 = 25 x  2000 - 100x = 25x 125x = 2000  x = 16.

3. If selling price is doubled, the profit triples. Find the profit percent.

A. 66 2 3 B. 100 C. 105 1 3 D. 120 Answer & Explanation Answer: Option B Explanation: Let C.P. be Rs. x and S.P. be Rs. y. Then, 3(y - x) = (2y - x)    y = 2x. Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.  Profit % = x x 100 % = 100% x

4. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

A. 30% B. 70% C. 100% D. 250% Answer & Explanation Answer: Option B Explanation: Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420. New C.P. = 125% of Rs. 100 = Rs. 125 New S.P. = Rs. 420. Profit = Rs. (420 - 125) = Rs. 295.  Required percentage = 295 x 100 % = 1475 % = 70% (approximately). 420 21

5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

A. 3 B. 4 C. 5 D. 6 Answer & Explanation Answer: Option C Explanation: C.P. of 6 toffees = Re. 1 S.P. of 6 toffees = 120% of Re. 1 = Rs. 6 5 For Rs. 6 , toffees sold = 6. 5 For Re. 1, toffees sold =