Profit And Loss Questions For CAT Set-4 PDF

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Profit And Loss Questions For CAT Set-4 PDF
Profit And Loss Questions For CAT Set-4 PDF

Profit And Loss Questions For CAT Set-4 PDF:-

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Question 1: If the selling price of the article is reduced by 40% and the cost price remains the same, the profit reduces by 50%. Find the original profit% of the article?

a) 400
b) 350
c) 200
d) 150

Question 2: A shopkeeper gives marks the price of an article by 160% above the cost price of the article and then give successive discouts of 10%, 15% and 20%. Find the Profit percentage (up to 2 decimals) of the shopkeeper.

a) 51.10
b) 59.12
c) 55.15
d) 49.18

Question 3: Abhi and Bablu started a business with an investment of Rs 30000 and Rs 18000 respectively. After 5 months, Chintu joined them with an investment of Rs 45000. If the profit after one year is Rs 19800, find the profit share of Chintu.

a) Rs 5500
b) Rs 6000
c) Rs 6500
d) Rs 7000

Question 4: A merchant marks up the price of an article by 40% and 45% successively. Then he gives discount of 20% and 25% successively. Find the profit percentage earned by the merchant.

a) 21.8%
b) 23.2%
c) 20.7%
d) 19.6%

Question 5: X goes to the shopkeeper P to purchase a plant for Rs 350 and gives him a 1000-rupee note. P does not have the change and hence goes to shopkeeper Q to get the change. He then gives X Rs 650. Later, Q realizes that the 1000-rupee note is a duplicate note and asks P to return his money. P returns the money. What is the loss incurred by P if it is given that P sold the plant at a profit of 25%?

a) Rs 930
b) Rs 1000
c) Rs 1070
d) Rs 1200

Question 6: X goes to the shopkeeper P to purchase a plant for Rs 350 and gives him a 1000-rupee note. P does not have the change and hence goes to shopkeeper Q to get the change. He then gives X Rs 650. Later, Q realizes that the 1000-rupee note is a duplicate note and asks P to return his money. P returns the money. What is the loss incurred by P if it is given that P sold the plant at a profit of 25%?

a) Rs 930
b) Rs 1000
c) Rs 1070
d) Rs 1200

Question 7: A shopkeeper sells 1 kg rice to two customers Rani and Vani. For Rani he charges exactly the cost price but under weighs the quantity by 10%. For Vani he sells at 20% more than cost price but over weighs the quantity by 10%. What is his overall profit/ loss percentage?

a) 10% loss
b) 10% profit
c) 9.1% loss
d) 9.1% profit

Question 8: A trader sells an item for 20% discount and still manages to get 20% profit. What is his profit/ loss % if he gives a discount of 30%?

a) 5% loss
b) 5% profit
c) No profit/ loss
d) Cannot be determined

Question 9: A fruit vendor sells apples at 40% profit. But for every 30 apples he sells, he loses 6 apples because of decaying. What is his average profit/loss percent?

a) 16.67% loss
b) 14.29% loss
c) 16.67% profit
d) 14.29% profit

Question 10: During a sale, a retailer reduced the advertised selling price of a mixer grinder by offering 30% discount. In this process he incurred a loss of 2%. What would have been his profit percentage, if he had instead offered 15% discount?

a) 12%
b) 15%
c) 17%
d) 19%

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Answers & Solutions:

1) Answer (A)

Let the SP be x and the CP be y.
(x-y) = 2(0.6x-y)
0.2x = y
x = 5y
Original profit% =$\frac{x-y}{y}*100 =\frac{5y-y}{y}*100 = 400$%

2) Answer (B)

Let the price of the article be Rs 100.
Mark up is 160% => Marked Price = 100*(1 + 1.6) = Rs 260.
Price after discount of 10% = 260 * (1 – 0.1) = 260 * 0.9 = 234
Price after discount of 15% = 234 * (1 – 0.15) = 234 * 0.85 = 198.9
Price after discount of 20% = 198.9 * (1 – 0.2) = 198.9 * 0.8 = 159.12
=> Final Selling Price = Rs 159.12
=> Profit = Rs 59.12
=> Profit % = $\frac{59.12}{100}*100$ = 59.12%

3) Answer (D)

Investment ratio of Abhi and Bablu = 30000 : 18000 = 5 : 3
Investment ratio of Abhi, Bablu and Chintu = 30000 * 12 : 18000 * 12 : 45000 * 7 = 360 : 216 : 315 = 40 : 24 : 35
=> Profit share of Chintu = $\frac{35}{40+24+35}$ = $\frac{35}{99}$
Total profit = Rs 19800
=> Profit of Chintu = $\frac{35}{99}*19800$ = 35 * 200 = Rs 7000.

4) Answer (A)

Let the cost price of an article be x.
After the mark up, the price of the article is x * (1 + $\frac{40}{100}$) * (1 + $\frac{45}{100}$)
= x * 1.4 * 1.45
= 2.03x
The total discount percentage is 1 – ((1 – $\frac{20}{100}$)*(1 – $\frac{25}{100}$))
= (1 – 0.8 * 0.75)
= 40%
=> Selling Price = 2.03x * (1 – 0.4) = 2.03x * 0.6 = 1.218x
=> Profit = 1.218x – x = 0.218x
=> Profit % = $\frac{0.218x}{x}*100$ = 21.8%

5) Answer (B)

Let the cost price of the item be x.
Marked price = 1.4x
Discounted price = 0.85*1.4x = 1.19x
Gross profit = 1.19x – x = 0.19x
Tax = 10% of 0.19x = 0.019x
So, net profit = (90/100)*0.19x = 0.171x = 342
=> x = 342/0.171 = 2*1,000 = Rs 2,000

6) Answer (A)

Assume that initially, P does not have any money. He only has the plant whose selling price is Rs 350.
Cost Price = $\frac{350}{1.25}$ = Rs 280
X gives Rs 1000 to P and P gives that money to Q, in exchange for a change of Rs 1000.
He then gives Rs 650 to X.
=> P is left with Rs 350.
Now, Q asks his Rs 1000 back. P gives Rs 350 and is in debt of Rs 650.
So, his total loss is Rs 650 and the cost price of the plant, which is Rs 280.
Hence, the total loss = 650 + 280 = Rs 930.

7) Answer (B)

Let the cost price of 1 kg of rice be C.
For Rani he sells at C but only sells 0.9 kg instead of 1 kg.
For Vani he sells at 1.2C but sells 1.1 kg instead of 1 kg.
Overall he sold 2 kg rice together and the cost price for it is 2C.
His net revenue after both the transactions is C+1.2C = 2.2C
His profit = 0.2C
Profit % = $ (\frac{0.2C}{2C})\times100$ = 10% profit.

8) Answer (B)

Let the Cost Price of the item be Rs. 100. To get a profit of 20% he must have sold it at Rs. 120. But this is after giving a discount of 20%.
It means that the selling price is 20% lower than marked Price of the item. So the marked price is Rs. 150.
Now if he gives a discount of 30% he will sell the item at Rs. 105.
He earns a profit of Rs. 5 and the profit % is 5%.

9) Answer (C)

Let the cost per apple be Re 1. Thus, the price at which the fruit vendor sells the apples = 1.4
For every 30 apples, the vendor loses 6 apples. Thus, for 30 apples he sells his cost price is 36.
The price at which the fruit vendor sells 36 apples = 1.4 x 30 = 42 Rs
Thus, the profit percent of the fruit vendor = $\frac{42 – 36}{36}\times100$% = 16.67%

10) Answer (D)

Let the cost price of the item be Rs. 100
After giving a discount of 30% he sold it at 2% loss, that is, at Rs. 98
Let the marked price be M
We get,
0.7M = 98
=> M = Rs. 140
If the retailer had instead offered only 15% discount, then the selling price would be,
0.85*140 = Rs. 119
In this case profit % would be 19%

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