Practice Quantitative Aptitude Questions For IBPS 2017 Exams (Profit & Loss)

July 21, 2017 Share Like Labels: ig

Practice Quantitative Aptitude Questions For IBPS 2017 Exams (Profit & Loss):

Dear Readers, Important Practice Aptitude Questions for IBPS Exams 2017 was given here with Solutions. Aspirants those who are preparing for the Bank Examination and other Competitive Examination can use this material.

Directions (Q. 1-10):
1. A man lost 20% by selling an article for Rs. 6800. What is the gain or loss percent, if he sells it for Rs.8160?

1). Answer: C
20% loss = 80% of cost price
If, 80% of cost price = 6800
Then, X% of cost price = 8160
∴ X% = 80 × 8160 / 6800 = 96%
Hence, the loss = 100 – 96 = 4%

2. A product is sold for a profit of 15%. If it had been sold for Rs.25 more, then would have been a gain of 20%. What is the cost price of the product?

2). Answer: B
Let the selling price of the product be x,
115% of cost price = x
120% of cost price = x+25
∴ (x+25) × 115 = x × 120
5x = 115 × 25
∴ x = 575
Hence, the cost price of the product (C.P) = 100%
115% of cost price = 575
∴ C.P = 100 × 575/ 115 = 500

3. A dishonest dealer sells his goods at 20% profit. But still he uses a weight of 900 gram instead of 1 kg. What is the overall profit percentage?

3). Answer: D
The 20% profit of cost price = 120
∴ the selling price of goods = 120
Cost price (900 gram) = 900 /1000 × 100 = 90
Hence, the overall profit = (120 – 90)/90 × 100 = 30 /90 × 100 = 33 1/3%

4. The profit earned by selling an article for Rs.2160 is the same as the loss incurred by selling the article for Rs.1440. At what price should it be sold to make a 40% profit?

4). Answer: B
The cost price = (2160 + 1440) / 2 = 3600/2 = 1800
40% profit of cost price = 140 × 1800 /100 = 2520

5. A product sold for a loss of 10%. If he had been sold at a gain of 15%, it would have been sold for Rs.1250 more. What is the cost price of a product?

5). Answer: A
Selling price (S.P1) = 90% of cost price
Selling price (S.P2) = 115% of cost price
Let the selling price of the product be x,
90% of cost price = x
115% of cost price = x+1250
90 × (x+1250) = x × 115
1250 × 90 = 115x – 90x
25x =1250 × 90
∴ x = 4500
Hence, the cost price = 4500 × 100 /90 = 5000

6. Kathir bought oranges at the rate of 12 for Rs.51 and sold them at the rate of 8 for Rs.38. How many oranges should be sold to earn a net profit of Rs. 50?

6). Answer: D
12 oranges bought for Rs. 51
∴ cost price of 1 orange = 51/12 = 4.25
8 oranges sold for Rs. 38
∴ selling price of 1 orange = 38/8 = 4.75
Hence, the profit = 4.75 – 4.25 = 0.5
Profit of 1 orange = 0.5
Profit of x oranges = 50
∴ x = 50 /0.5 = 100
Hence, 100 oranges are sold to get a profit of Rs.50

7. If the cost price of 20 pens is equal to the selling price of 15 pens, what is the profit percent?

7). Answer: C
The profit% = (20-15)/15 × 100
= 5/15 × 100 = 33 1/3%

8. At what price should a shopkeeper mark a fan that cost him Rs.1200 in order that he may offer a discount of 20% on the marked price and still have a profit of 25%?

8). Answer: A
20% discount = 80% of marked price = 1200
25% profit on marked price, 125%= x
∴ x = 1200 × 125 / 80 = 1875

9. A sold a wardrobe to B at a profit of 20% and B sold the same wardrobe to C at a profit of 40%. If C bought it for Rs.12180, how much did A pay for it?

9). Answer: B
Rs.12180 = 140% profit of B
∴ cost price of B = 12180 × 100 / 140 = 8700
Rs.8700 = 120% of A
∴ cost price of A = 8700 × 100 / 120 = 7250
Hence, A paid for a wardrobe is Rs.7250

10. A person sold two articles for Rs.1500 each; he made a profit of 20% and a loss of 20% on the other. What will be the overall profit or loss in percentage?

10). Answer: B
The selling price of article1 = 120% of cost price = 1500
∴ cost price of article1 = 1500 × 100 / 120 = 1250
The selling price of article2 = 80% of cost price = 1500
∴ cost price of article2 = 1500 × 100 / 80 = 1875
The overall cost price = 1250 + 1875 = 3125
The overall selling price = 1500 + 1500 = 3000
∴ the overall loss = (Cost price – Selling price)/Cost price × 100
= (3125 – 3000)/3125 × 100 = 125/3125 × 100 = 4%
Hence, overall loss = 4%