Profit and Loss Questions -2 | IBM Aptitude Test

Another compilation of important questions for IBM Placement preparation and IBM interview Preparation from the very important topic of Profit and Loss to help you guys prepare for IBM placements papers. Remember to succeed a person need to work hard. so, practice these questions and others as well to get benefit of Tutorial Diary.

Question: A salesman marks an item 60% above the cost price & offers 2 successive discounts of 25% & 15% on the marked price. His earned profit is:

(a) 20

(b) 2

(c) 10

(d) 1

Answer: (b)

Solution:

let cost price is 100
mark price= 160
after 25% of discount the cost is 160*.75=120
after 15% of discount the cost is 120*0.85=102

so the profit is 2 rupees
or 2%

Question: It cost a college Rs.0.70 a copy to produce a Programmed for the homecoming football game. If Rs.15,000/- was received for advertisements in the programme, how many copies at Rs.0.50 a copy must be sold to make a profit of Rs.8000/- ?

(a) 35000

(b) 32000

(c) 16000

(d) 15000

Answer: (a)

Solution:

Let the no. of copies be x.
We know Profit = Selling Price - Cost Price.
Here s.p = Rs. 0.5*x
c.p = Rs. 0.7*x-15000
profit = Rs. 8000

Therefore, 8000 = 0.5x - (0.7x - 15000)
x = 35000

Question: If a person sells a product for rs141/- he suffers a loss of 6%.if he has to have a profit of 10%,
at what price should he sell it?

(a) 155

(b) 165

(c) 140

(d) 170

Answer: (b)

Solution: CP=(141/94)*100=150
Now to make a profit of 10%, the SP would be
150*110/100=165

Question: 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) 18

(c) 16

(d) 25

Answer: (c)

Solution: LET C.P.=20,S.P.=X
WE KNOW THAT,GAIN=(S.P.-C.P.)/S.P.
SO AS PER QUESTION, (20-X)/X=25/100=16(ANS)

Question: By selling a product a seller is gaining 10% on selling price. If he sell that product Rs.80 less, he would have been losing 10%. What is the cost price?

(a) 400

(b) 200

(c) 300

(d) 378

Answer: (a)

Solution:

let CP be x
then SP =1.1x(considering 10% gain)

again,
SP =x-((10/100)*x) =0.9x (considering 10% loss)
now,
1.1x-0.9x=80
so , x= 400

Question: A tape manufacturer reduces the price of his heavy duty tape from Rs.30/- to Rs.28/- a reel and the price of a regular tape from Rs.24/- to Rs.23/- a reel. A computing centre normally spends Rs.1440/- a month for tapes and 3/4 of this is for heavy duty tapes. How much will they save a month under the new prices?

(a) 27

(b) 37

(c) 87

(d) 97

Answer: (c)

Solution:

Total Expenditure on tapes=Rs.1440

Total Expenditure on heavy duty tapes=3/4*1440=Rs.1080
Total reels of heavy duty tape=1080/30=36
Total savings on heavy duty tape=36*(30-28)=Rs.72

Total Expenditure on regular tapes=1/4*1440=Rs.360
Total reels of regular tape=360/24=15
Total savings on regular tape=15*(24-23)=Rs.15

Total Savings=Rs.72+Rs.15=Rs.87

Question: A company rented a machine for Rs.700/- a month. Five years later the treasurer calculated that if the company had purchased the machine and paid Rs.100/- monthly maintenance charge, the company would have saved Rs.2000/-. What was the purchase price of the machine?

(a) 32000

(b) 24000

(c) 34000

(d) 35000

Answer: (c)

Solution: Let the price of the machine = x rupee
5 year maintenance charge = 100*60 = 6000
so total investment = x+6000
now total rental charges for five year = 700*60 = 42000
so according to given condition 42000-x-6000 = 2000 so x = 34000

 

Question: From its total income, A sales company spent Rs.20,000 for advertising, half of the remainder on commissions and had Rs.6000 left. What was its total income?

(a) 32000

(b) 24000

(c) 34000

(d) 35000

 Answer: (a)

Solution: Let the Total Income be X.

20,000 is spend for advertising.
"half of the remainder on commissions"->So, it is expressed as
((X-20000)/2)
6000 remain.

So algebrically,

X=20000 +((X-20000)/2)) + 6000
X-X/2 = 20000-10000+60000

X=32000

Seer Part 1 of Profit and Loss here