Profit and Loss is an important part of the Quantitative Aptitude section. Profit and loss is part and parcel of every business. If the selling price of a product exceeds its cost price or production price, then a profit is made. If the selling price of a product is less than its cost price, then a loss is incurred. Every business man wants to earn profit at the end of the financial year but not necessary he earns profit.

**Profit and Loss **** Aptitude basics, practice questions, answers and explanations **

Profit=SP-CP

Loss=CP-SP

Profit %= ((SP-CP)/CP) *100

Loss %= ((CP-SP)/ CP) *100

Discount= MP-SP

Discount %= ((MP-SP)/ MP) * 100

where SP= Selling Price, CP= Cost Price, MP= Marked Price

**Exercise questions**

1. A trader makes a profit equal to the selling price of 75 articles when he sold 100 of the articles. What % profit did he make in the transaction?

A) 33.33%

B) 75%

C) 300%

D)150%

2. A merchant buys two articles for Rs.600. He sells one of them at a profit of 22% and the other at a loss of 8% and makes no profit or loss in the end. What is the selling price of the article that he sold at a loss?

A) Rs. 404.80

B) Rs.440

C) Rs. 536.80

D) Rs. 160

3. A trader professes to sell his goods at a loss of 8% but weights 900 grams in place of a kg weight. Find his real loss or gain per cent.

A) 2% loss

B) 2.22% gain

C) 2% gain

D)None of these

4. Rajiv sold an article for Rs.56 which cost him Rs.x. If he had gained x% on his outlay, what was his cost?

A) Rs. 40

B) Rs. 45

C) Rs. 36

D)Rs. 28

5. A trader buys goods at a 19% Amount on the label price. If he wants to make a profit of 20% after allowing a Amount of 10%, by what % should his marked price be greater than the original label price?

A) +8%

B) -3.8%

C) +33.33%

D) None of these

6. If apples are bought at the rate of 30 for Rs.100. How many apples must be sold for Rs.100 so as to gain 20%?

A) 28

B)25

C) 20

D) 22

7. One year payment to the servant is Rs. 200 plus one shirt. The servant leaves after 9 months and receives Rs. 120 and a shirt. Then find the price of the shirt.

A) Rs. 80

B) Rs. 100

C) Rs. 120

D) Cannot be determined

8. 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) Rs.66.67

B) Rs. 50

C) Rs.125

D) Rs.200

9. A merchant marks his goods in such a way that the profit on sale of 50 articles is equal to the selling price of 25 articles. What is his profit margin?

A) 25%

B)50%

C) 100%

D)66.67%

10. 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 Key**

1.C; 2.A; 3.B; 4.A; 5.A; 6.B; 7.C; 8.B; 9.C; 10.D

Profit and Loss is an important part of the Quantitative Aptitude section. Profit and loss is part and parcel of every business. If the selling price of a product exceeds its cost price or production price, then a profit is made. If the selling price of a product is less than its cost price, then a loss is incurred. Every business man wants to earn profit at the end of the financial year but not necessary he earns profit.
Freshersworld.com provides with Profit and Loss - Aptitude Questions and Answers with Explanation, test, shortcuts, solved examples that would help candidates in clearing all the entrance exams like IBPS, SBI, CAT, CMAT. It also provides with shortcuts and tricks which is very necessary for solving problems fast.
How do I calculate profit and loss?
Profit = Selling Price (S.P.) Cost price (C.P.)
Loss = Cost price (C.P.) Selling Price (S.P.)
Profit or Loss is always calculated on the cost price.
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What is the formula of profit and loss percentage?
Profit percentage = profit/CP *100
Loss percentage = loss/CP*100