Profit and Loss Questions for RBI Grade B PDF
Download Very important RBI Grade-B Profit and Loss questions with solutions PDF. This PDF covers Top-15 Profit and Loss questions and answers for RBI Grade-B exam based on previous year asked questions from RBI and other Banking exams.
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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
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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%.
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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%
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