Profit and Loss Questions For IBPS RRB Office Assistant

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Question 1: 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 2: An article was purchased for Rs.78,350. Its price was marked up by 30%. It was sold at a discount of 20% on the marked up price. What was the profit percent on the cost price?

a) 4

b) 7

c) 5

d) 3

e) 6

Question 3: 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

Question 4: A shopkeeper sells two watches for Rs308 each. On one he gets 12% profit and on the other 12% loss. His profit or loss in the entire transaction was

a) 1$\frac{11}{25}$% loss

b) 1$\frac{11}{25}$% gain

c) 3$\frac{2}{25}$%loss

d) 3$\frac{2}{25}$%gain

e) None of these

Question 5: 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 6: A shopkeeper uses a weight of 960 g instead of 1000 g. What is his gain%?

a) 4%

b) 6%

c) 4$\frac{1}{6}$%

d) 61/4%

e) None of these

Question 7: A person bought an article on 40% discount and sold it at 50% more than the marked price. What profit did he get?

a) 250 %

b) 150 %

c) 350 %

d) 200 %

e) None of these

Question 8: 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 9: Profit earned by organisation is distributed among officers and clerks in the ratio of 5:3 If the number of officers is 45 and the number of clerks is 80 and the amount received by each officer is rs 25,000 what was the total amount of profit earned ?

a) Rs. 22 lakh

b) Rs. 18.25 lakh

c) Rs. 18 lakh

d) Rs. 23.25 lakh

e) None of these

Question 10: A shopkeeper labelled the price of the articles so as to earn a profit of 30% on the cost price. He then sold the articles by offering a discount of 10% on the labelled price what is the actual per profit earned in the deal ?

a) 18%

b) 15%

c) 20%

d) Cannot be determined

e) None of these

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Question 11: Pure milk costs Rs. 16 per litre. After adding water the milkman sells the mixture Rs. 15 per litre and thereby makes a profit of 25%. In what respective ratio does he mix milk with water?

a) 3: 1

b) 4: 3

c) 3: 2

d) 5: 3

e) 4: 1

Question 12: A merchant bought some goods worth Rs. 6000 and sold half of them at 12% profit. At what profit per cent should he sell the remaining goods to make and overall profit of 18%?

a) 24

b) 28

c) 18

d) 20

e) 26

Question 13: Raj sold an item for Rs. 6384 and incurred a loss of 30%. At what price should he have sold the item to have gained a profit of 30%?

a) Rs. 14656

b) Rs. 11856

c) Rs. 13544

d) Cannot be determined

e) None of these

Question 14: Niraj incurred a loss of 55 per cent on selling an article for Rs. 9549. What was the cost price of the article?

a) Rs. 27700

b) Rs. 25600

c) Rs. 21220

d) Rs. 29000

e) None of these

Question 15: A shopkeeper labelled the price of his articles so as to earn a profit of 30% on the cost price. He then sold the articles by offering a discount of 10% on the labelled price. What is the actual percent profit earned in the deal?

a) 18%

b) 15%

c) 20%

d) Cannot be determined

e) None of these

Question 16: The cost price of an article is Rs. 480. If it is to be sold at a profit of 6.25 per cent, what would its selling price be ?

a) Rs. 510

b) Rs. 530

c) Rs. 503

d) Rs. 519

e) None of these

Question 17: 13 articles were bought for Rs.5,890 and sold for Rs. 6,656. What was the ‘’approximate’’ profit percentage per article ?

a) 15%

b) 11%

c) 9%

d) 19%

e) 13%

Question 18: The profit earned after selling an article for Rs 996 is the same as the loss incurred after selling the article for Rs 894. What is the cost price of the article ?

a) Rs 935

b) Rs 905

c) Rs 945

d) Rs 975

e) None of these

Question 19: The cost price of an article is Rs. 7950. If its is to be sold at a profit of 18% , what would be its selling price ?

a) Rs. 9431

b) Rs. 9183

c) Rs. 9218

d) Rs. 9381

e) None of these

Question 20: 24 article were bought for Rs. 14880 and sold for Rs. 18480. What was the approximate profit percentage per article ?

a) 32%

b) 29%

c) 17%

d) 20%

e) 24%

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Answers & Solutions:

1) Answer (C)

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

2) Answer (A)

Marked price = 78,350 + 30% of 78,350 = Rs 1,01,855
Price after discount = 101855 -20% of 101855 = Rs 81,484
Profit = Rs 3,134

3) 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 $\frac{240}{360+240+424} \times 11960 = 2803.125 \approx 2803$

4) Answer (A)

Loss percent
= [$\frac{loss}{10}$]² %
= [$\frac{12}{10}$]² %
= $\frac{36}{25}$ %
= 1$\frac{11}{25}$ %

5) Answer (C)

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

6) Answer (C)

Gain% = (1000-960)/960 x 100 = 25/6=4 1/6%

7) Answer (B)

Let the marked price be Rs. 100.
Then cost price = 100 – 40 = Rs. 60
Selling price = 100+ 50 = Rs. 150
Profit = 150 – 60 = 90
Profit%=90/60×100=150%

8) 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

9) Answer (C)

The total amount distributed among officers = 45*25000= 11,25,000

If the total amount is x, then this amount is (5/8)x=11,25,000

Hence, x=18,00,000

10) Answer (E)

Let the cost price be x.
As per given condition, the labelled price will be 1.3x.
Discounted price will be  0.9*1.3x= 1.17x
Now, Profit = Price at which item was sold – Cost Price = 1.17x – x = .17x = 17% of Cost price.
Hence, profit is 17%.
11) Answer (A)

Selling price is Rs 15 and Profit is 25%

=> Cost Price = $\frac{15}{1.25}$ = Rs 12

=> In every litre of solution, there is Rs 12 worth milk.

But the actual cost of milk is Rs 16.

=> Ratio = 12 : 4 = 3 : 1

12) Answer (A)

50% of the goods are sold at 12%.

=> 0.5(x) + 0.5(12) = 0.18

=> 0.5x = 0.12

=> x = 0.24

13) Answer (B)

Let the CP of the article be x.

Loss % = (CP-SP)/CP = (x-6384)/x = 0.3

1 – 6384/x = 0.3

x = 9120

Profit % = (SP-CP)/CP

0.3 = (SP-9120)/9120

SP = 9120*1.3 = Rs 11,856

14) Answer (C)

Let the CP of an article be x.

Loss% =$\frac{CP-SP}{CP}$

0.55 = $\frac{x-9549}{x}$

0.55 = 1-$\frac{9549}{x}$

x = 9549/(1- 0.55) = 9549/0.45 = 21220.

15) Answer (E)

Let the cost price of the article is 100

In order to earn 30% profit, the shopkeeper will sell it for 130

Discount = 10% of 130 = 13

SP = 130-13 = 117

Profit % =$\frac{117-100}{100}*100$ = 17%

16) Answer (A)

The selling price of article is, Selling price = Cost Price + Selling price * (Percent Profit/100)
Selling Price = 480 + (6.25/100)*480 = 510
Hence, the correct option is option A.
17) Answer (E)

Here, the profit for 1 article would be same as that for 13 articles.
Percent Profit = $\frac{Selling Price – Cost Price}{Cost Price}$ *100
Percent Profit = $\frac{6656 – 5890}{5890}$ *100
= 13
Hence, the correct option is option E.

18) Answer (C)

Let the CP be the Cost Price and SP be Selling Price.
Profit = SP – CP = 996 – CP
Loss = CP -SP = CP – 894
Now as Profit = Loss
2*CP = 1890
CP =945
Hence, the cost price is 945.

19) Answer (D)

Cost of the article = 7950

Profit = 18%

Hence, selling price will be = 7950+ 18% of 7950 = 7950(1.18) = 9381

20) Answer (E)

Cost price of an article = $\frac{14880}{24} = 620$

Selling price of an article = $\frac{18480}{24} = 770$

Profit per article = 150

%Profit per article = $\frac{150}{620} = 24.2$

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