Profit and Loss Questions -1 | IBM Aptitude Test

Tutorial Diary brings you compilation of important questions for IBM Placement preparation and IBM interview Preparation from the very important topic of Profit and Loss. Practice these questions well and get benefit of Tutorial Diary.

Question: A person sells a book with a loss of 10%. If he sells it for 104 rupees more, he earns a gain of 10%. Now, what will be the cost price of the book?

(a) 400 rupees
(b) 520 rupees
(c) 640 rupees
(d) 840 rupees

Solution: Let cost price be x,
selling price =90% of x(since he is having 10% loss)
90% of x +104 = 110% of x (since he is having 10% profit)

90% of x + 104 = 110% of x
110/100 * x - 90/100 * x = 104
x/5=104
x= 104*5=520

Question: A shopkeeper allows a discount of 5 percent to his customers. What price should he mark on an article, the cost price of which is Rs. 800 so that he makes clear profit of 25 percent on his outlay?

(a) 1000 rupees
(b) 1053 rupees
(c) 1200 rupees
(d) 11233 rupees

Answer: 30

Question: For a party 240 guests were invited. Contractor has gained 12.5% profit but 30 guest were absent. He charged same cost , lost 100 rs. What is the per meal cost?

Answer: 30

Solution: If x is the cost of 1 meal, then 
240x*100/112.5 = 210x+100
solving it, we get 
x= Rs 30.

Question: A shop keeper sell an article gets profit of 20% had he bought it for 20% less and sold it for Rs 120 less he would have still bought profit of 20% what is the cost price of article.

(a) 200

(b) 300

(c) 400

(d) 500

Answer: (d)

Solution:

let cost price=x; selling price=120%(x)

new cost price=80%(x) i,e 20% less than previous cost price

new selling price= 120%(x)-120 therefore from the question

but new selling price = 120%(80%x) therefore from cost price
120%(80%(x))=120%(x)-120
x=500

 

Question: A watch was sold at a profit of 15%. If its cost had been 5% less and it had been sold for Rs. 21 less, than the profit would have been 10%. Find the cost price of the watch

(a) 200

(b) 300

(c) 400

(d) 500

Answer: (a)

Solution: let the price of the watch is x
it was sold at a profit of 15%
then the price of the watch is 1.15x
again cost had been decreased by 5% i.e 0.95x
according to the question
1.15x=0.95x*(110/100)+21
then x=200

Question: A man bought some mangoes at Rs12 per dozen and bought the same number of at Rs 10 per kg. He sold these mangoes at Rs 13 per dozen and gained Rs 160.The total number of mangos bought by him are:

(a) 60 dozens
(b) 70 dozens
(c) 80 dozens
(d) 90 dozens

Answer: (c)

Solution: let total no of mangoes is 2x..
then we profit=sp-cp
160=13*2x-(12x+10x)
160=4x
x=40
hence 2x=80
so total no are 80dozens

 

Question: A merchant marks his goods up by 75% above his cost price. What is the maximum % Amount that he can offer so that he ends up selling at no profit or loss?

(a) 75%
(b) 46.67%
(c) 300%
(d) 42.85%

Answer: (d)

Solution:

Question: Q. Two merchants sell, each an article for Rs.1000. If Merchant A computes his profit on cost price, while Merchant B computes his profit on selling price, they end up making profits of 25% respectively. By how much is the profit made by Merchant B greater than that of Merchant A?

(a) 66.67 rupees
(b) 50 rupees
(c) 125 rupees
(d) 200 rupees

Answer: (b)

Solution:

profit on cost price = 1000-(100/125)*1000= 200 (selling price-cost price)
profit on selling price = (25/100)*1000 = 250
difference = 50