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
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?

###
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

###
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)

###
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

###
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:

###
Answer: (c)

###
Solution: let total no of mangoes is 2x..

###
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?

###
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?

###
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

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

(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

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