Profit and Loss Questions for CMAT 2022 – Download PDF

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Profit & Loss Questions for CMAT
Profit & Loss Questions for CMAT

Profit and Loss Questions for CMAT 2022 – Download PDF

Download CMAT 2022 Profit and Loss Questions pdf by Cracku. Very Important Profit and Loss Questions for CMAT 2022 based on asked questions in previous exam papers. These questions will help your CMAT preparation. So kindly download the PDF for reference and do more practice.

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Question 1: An article when sold for 960 fetches 20% profit.What would be the percent profit /loss if such 5 article are sold for Rs. 825/-each?

a) 3.125 % profit

b) 3.125 % loss

c) Neither profit nor loss

d) 16.5 % profit

e) None of these

Question 2: The owner of an electronics shop charges his customers 22% more than the cost price .If the customer paid Rs 10,980 for DVD player then the what was the cost price of that DVD?

a) 8000

b) 8800

c) 9500

d) 9200

e) none of these

Question 3: An item was bought at Rs. X and sold at Rs. Y, there by earning a profit of 20%. Had the value of X been 15% less and the value of Y been Rs. 76 less, a profit of 30% would have been earned. What was the value of ‘X’

a) Rs. 640

b) Rs.400

c) Rs.600

d) Rs.800

e) Rs.840

Question 4: Shri Ramlal purchased a TV set for Rs. 12,500 and spent Rs. 300 on transportation and Rs. 800 on installation. At what price should he sell it so as to earn an overall profit of 15% ?

a) Rs. 14,560

b) Rs. 14,375

c) Rs. 15,460

d) Rs. 15,375

e) None of these

Question 5: A trader sells an item to a retailer at 20% discount, but charges 10% on the discounted price, for delivery and packaging. The retailer sells it for Rs. 2046 more, thereby earning a profit of 25%. At what price had the trader marked the item?

a) Rs. 9400

b) Rs. 9000

c) Rs. 8000

d) Rs. 12000

e) Rs. 9300

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Question 6: A starts a business with Rs. 2500. After one month from the start of the business, B joined with Rs. 4500 and A withdrew completely after eleven months from the start of the business. If the difference between A’s and B’s respective shares in the annual profit was Rs. 4800, what was the annual profit earned?

a) Rs. 14800

b) Rs. 16800

c) Rs. 14400

d) Rs. 11400

e) Rs. 15600

Question 7: Raghuvir bought 10 calculators and 16 watches for Rs. 56000 and sold them at an overall profit of 20%. At what price should he sell 15 calculators and 24 wathces so that he receives the same percentage of profit ?

a) 100980

b) 116176

c) 121176

d) 100800

e) 124132

Question 8: There are two motor cycles’ (A and B) of equal cost price. Motorcycle A was sold at a profit of 14% and motorcycle B was sold for Rs.4,290/­ more than its cost price. The net profit earned after selling both the motor cycles (A and B) is 20%. What is the cost price of each motorcycle ?

a) Rs. 16,500/­

b) Rs. 16,000/­

c) Rs. 15,500/­

d) Rs. 17,500/­

e) Rs. 17,000/­

Question 9: A wholesaler blends two varieties of tea, one costing Rs. 60 per kilogram and another costing Rs. 105 per kilogram. The respective ratio of quantities they were mixed in was 7 : 2. If he sold the mixed variety at Rs. 100 per kilogram, how much was his profit percentage ?

a) $34\frac{2}{7}$

b) $38\frac{2}{5}$

c) $32\frac{2}{5}$

d) $42\frac{6}{7}$

e) $48\frac{6}{7}$

Question 10: A, B and C start a small business. A contributes 1/5th of the total capital invested in the business. B contributes as much as A and C together. Total profit at the end of the year was Rs. 5,200. What was C’s profit share ? (in Rupees)

a) 1510

b) 2510

c) 1500

d) 2560

e) 1560

Question 11: The cost price of an item is two-third of its selling price. What is the gain/loss percent on that item?

a) 45

b) 50

c) 35

d) 54

e) None of these

Question 12: Mehul sold an item for Rs. 5.025 and incurred a loss of 25% At what price should he have sold the item to have gained a profit of 25% ?

a) Rs. 8.375

b) Rs. 10,500

c) Rs. 8,250

d) Cannot be determined

e) None of these

Question 13: Sujit incurred a loss of 45 percent on selling art article for Rs. 3,740. What was the cost price of the article ?

a) Rs. 5,725

b) Rs. 5,080

c) Rs. 6,250

d) Rs. 6,400

e) None of these

Question 14: A seller marks the price 50% above the cost price and gives 10% discount on an item.While selling, he cheats customer by giving 20% less in weight. Find his overall profit percent (approximate) ?

a) 26%

b) 65%

c) 68%

d) 72%

e) 76%

Question 15: A DVD player was purchased for Rs 4,860. At what price should it be sold so that 25% profit is earned ?

a) Rs 6,225

b) Rs 6,275

c) Rs 6,075

d) Rs 6,025

e) None of these

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Question 16: Maria earned a profit of 30% on selling an article for Rs 6110. What was the cost price of the article ?

a) Rs 5725

b) Rs 4080

c) Rs 5250

d) Rs 4400

e) None of these

Question 17: 2 persons start a business with an amount of 12000 and 15000 respectively and 3 months later a third person joins them with an amount of 20000. What will be the ratio in which the profit will be distributed at the end of the year?

a) 4:6:7

b) 4:1:3

c) 4:4:3

d) 4:5:5

e) 4:7:6

Question 18: If SP = Rs. 84, % gain = 20%, then CP =?

a) Rs. 60

b) Rs. 65

c) Rs. 70

d) RS. 75

e) None of these

Question 19: Seema bought 20 pens, 8 packets of wax colours, 6 calculators and 7 pencil boxes, The price of one pen is Rs. 7, one packet of wax colour is for Rs. 22, one calculator is for Rs.175 and one pencil box costs Rs. 14 more than the combined price of one pen and one packet of wax colours. How much amount did Seema pay to the shopkeeper?

a) Rs. 491

b) Rs. 1,725

c) Rs. 1,667

d) Rs. 1,527

e) None of these

Question 20: Three men A, B and C start a business together. They invest Rs30000, Rs24000 and Rs42000 respectively in the beginning. After 4 months. B took out Rs6000 and C took out Rs10000. They get a profit of Rs11960 at the end of the year, B’s share in the profit (approximately) is

a) Rs2700

b) Rs2803

c) Rs2900

d) Rs2790

e) None of these

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Answers & Solutions:

1) Answer (A)

Let cost price of an article = $Rs.$ $100x$

If Selling price = Rs 960

=> Profit % = $\frac{960-100x}{100x} \times 100=20$

=> $960-100x=20x$

=> $20x+100x=120x=960$

=> $x=\frac{960}{120}=8$

Thus, cost price of 1 article = $100 \times 8 = Rs.$ $800$

If selling price = Rs. 825

$\therefore$ Profit % = $\frac{825-800}{800} \times 100$

= $\frac{25}{8} = 3.125\%$

=> Ans – (A)

2) Answer (E)

Let cost price = $Rs. 100x$

Selling price = Rs. 10,980

=> Profit % = $\frac{10980 – 100x}{100x} \times 100 = 22$

=> $10980-100x=22x$

=> $22x+100x=122x=10980$

=> $x=\frac{10980}{122} = 90$

$\therefore$ Cost price = $100 \times 90 = Rs. 9000$

=> Ans – (E)

3) Answer (D)

C.P. = $Rs. x$

S.P. = $Rs. y$

Profit % = $\frac{y – x}{x} \times 100 = 20$

=> $\frac{y – x}{x} = \frac{20}{100} = \frac{1}{5}$

=> $5y – 5x = x$ => $6x = 5y$

=> $y = \frac{6 x}{5}$ ———–(i)

If, value of X been 15% less and the value of Y been Rs. 76 less

=> $x’ = \frac{85}{100} \times x = \frac{17 x}{20}$

=> $y’ = y – 76$

Profit % = $\frac{y’ – x’}{x’} \times 100 = 30$

=> $\frac{(y – 76) – (\frac{17 x}{20})}{\frac{17 x}{20}} = \frac{30}{100} = \frac{3}{10}$

=> $10 \times [(y – 76) – (\frac{17 x}{20}] = 3 \times \frac{17 x}{20}$

=> $10y – 760 – \frac{170 x}{20} = \frac{51 x}{20}$

=> $10y – \frac{221 x}{20} = 760$

Using, equaiton (i), we get :

=> $(10 \times \frac{6 x}{5}) – \frac{221 x}{20} = 760$

=> $12x – \frac{221 x}{20} = 760$

=> $\frac{19 x}{20} = 760$

=> $x = 760 \times \frac{20}{19}$

=> $x = 40 \times 20 = Rs. 800$

4) Answer (E)

Cost price of TV = Rs. 12,500

Amount spent on transportation = Rs. 300 and installation = Rs. 800

Net spent = Rs. (12500 + 300 + 800) = Rs. 13,600

Let selling price = $Rs.x$

Profit % = $\frac{x-13600}{13600} \times 100=15$

=> $x-13600=15 \times 136$

=> $x=2040+13600$

=> $x=Rs.$ $15,640$

=> Ans – (E)

5) Answer (E)

Let Marked price of item = $Rs. 100x$

=> Selling price of trader = Cost price of retailer = $100x \times \frac{80}{100} \times \frac{110}{100}$

= $Rs. 88x$

Selling price of retailer = $Rs. (88x + 2046)$

Profit % = $\frac{(88x + 2046) – 88x}{88x} \times 100 = 25$

=> $\frac{2046}{88x} = \frac{25}{100} = \frac{1}{4}$

=> $x = \frac{2046 \times 4}{88} = 93$

$\therefore$ Marked price = $100 \times 93 = Rs. 9,300$

6) Answer (B)

Amount invested by A = Rs. 2500 and by B = Rs. 4500

Both invested for 11 months.

Ratio of profit shared by A and B

= $(2500 \times 11) : (4500 \times 11)$

= $5 : 9$

Let total profit earned by A and B respectively = $Rs. 5x$ and $Rs. 9x$

=> $9x – 5x = 4800$

=> $x = \frac{4800}{4} = 1200$

$\therefore$ Total profit = $9x + 5x = 14x$

= $14 \times 1200 = Rs. 16,800$

7) Answer (D)

Total S.P. of 10 calculators and 16 watches

= $56,000 \times \frac{120}{100}$ = Rs. $67,200$

Multiplying by $\frac{3}{2}$

=> S.P. of 15 calculators and 24 watches

= $67,200 \times \frac{3}{2}$ = Rs. $1,00,800$

8) Answer (A)

Cost price of both A and B be X.
SP of A = 1.14 CP of A
SP of B = CP of B + 4290
Net profit after selling both bikes is 20%
1.2 (X+X) = SP of A +SP of B
1.2 (X+X) = 1.14 CP of A + CP of B + 4290 = 1.14X + X + 4290
2.4X = 2.14 X + 4290
0.26 X =4290
X = 16,500
Option A is the correct answer.

9) Answer (D)

Let wholesaler mixed 7 kg and 2 kg of tea of variety 60 Rs/kg and 105 Rs/kg respectively.
Cost of tea of variety 60 Rs/kg=$60\times7$.
=Rs. 420.
Cost of tea of variety 105 Rs/kg=$105\times2$.
=Rs. 210.
Total cost=420+210.
=630.
Selling price=$9\times100$.
=900.
Profit percentage=$\frac{900-630}{630}\times100$.
=$\frac{300}{7}$.
=$42\frac{6}{7}$.
Hence, Option D is correct.

10) Answer (E)

Let total contribution by A,B and C be’5x’.
A’s contribution=$\frac{1}{5}\times5x$.
=x.
Let B’s contribution be ‘y’
A’s contribution+B’s contribution+C’s contribution=5x.
x+y+C’s contribution=5x.
C’s contribution=4x-y.
It is given that,
A’s contribution+C’s contribution=B’s contribution.
x+4x-y=y.
5x=2y.
A’s contribution=x.
B’s contribution=5x/2.
C’s contribution=4x-5x/2=3x/2.
A’s contribution:B’s contribution:C’s contribution=$1:\frac{5}{2}:\frac{3}{2}$
=2:5:3.
Since time for contribution is same, therefore, their profit share must be in ratio of their contribution.
Total profit=5200.
C’s profit=$\frac{3}{10}\times5200$.
=1560.
Hence, Option E is correct.

11) Answer (B)

Given that ,

Cost price (cp) = $\frac{2}{3}$ selling price(sp)

  • Clearly, selling price is more than cost price. Hence it is a GAIN .
  • Gain% = [(sp – cp)/ cp] * 100
  • = [(sp/cp) -1] * 100
  • = ($\frac{34}{3}$ – 1 ) * 100
  • = 50

12) Answer (A)

Mehul Selling Price = Rs.5.025
Loss = 25%
Using S.P=C.P(1-(loss/100)) ,
We get S.P = 0.75C.P
=> C.P = Rs.6.7

Now again,
S.P=C.P(1+(profit/100))
Profit=25 % and C.P.=6.7
We get S.P = 1.25*6.7
S.P=Rs. 8.375

Option A is the right answer.

13) Answer (E)

Loss = 45%
=>$ 0.55* \text{Cost price} = 3,740$

Cost price = $\frac{3740}{0.55}$ = $6800$
Hence, option E is the right answer.

14) Answer (C)

Let the cost price be Rs 100 and amount of product be 100 gm

Now there is 50% markup so the marked price becomes Rs 150

Now after 10% discount on Marked price the selling price = Rs (150 – 15) = Rs 135

Now it is said that he only sale 80 % of the quantity So,

he is selling 80 gm in 135 Rs which means SP of 1 gm is = Rs 1.6875

Cost price of 1 gm = Rs 1

So profit percentage is 68.75 % ~ 68%

15) Answer (C)

The cost price of the DVD player is 4860.
The profit percentage is 25%

Hence, the selling price is 4860 * 125% = 6075

16) Answer (E)

Let the cost price of the article be C.
As the profit percentage is 30%, the selling price of the article is 1.3C

But, 1.3C = 6110
So, C = 6110/1.3 =Rs. 4700

As this is not given in the options, the correct answer is option (e)

17) Answer (D)

As we know that the profit will be distributed in the ratio of (money invested)*(Duration for which money was invested).

Hence, Ratio will be = 12000*12 : 15000*12 : 20000*9 = 4:5:5

18) Answer (C)

CP = (100×SP)/((100+gain%))=(100×84)/120= Rs. 70

19) Answer (C)

Total amount = 20 x 7 + 8 x 22 + 6 x 175 + 7 x 43
= 140 + 176 + 900 + 301
= Rs1,667

20) Answer (B)

The profits are divided in the ratio of [Investment X time period]
So, this number for A is 30k X 12 = 360k
For B it is 24k X 4 + 18k X 12 = 240k
For C it is 42k X 4 + 32k X 8 = 424k

So, B’s share in the profit will be $\frac{240}{360+240+424} \times 11960 = 2803.125 \approx 2803$

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