This post contains few questions on **Profit and Loss with explanations** given at the end of the page. The Questions from profit and Loss can be asked in IBPS PO, IBPS Clerk, SSC, CDS and other competitive examinations.

## Set 2 Questions on Profit and Loss with explanations

1. If there is a profit of 20% on the Cost Price of an article, the percentage of profit calculated on its selling price will be –

A.24

B.50/3

C.25/3

D.20

2. A salesman expects a gain of 13% on his cost price. If in a month his sale was ₹7,91,000, what was his profit?

A.₹ 85,659

B.₹ 88,300

C.₹ 91,000

D.₹ 97,786

3. If a shirt costs ₹64 after 20% discount is allowed, what was its original price in ₹?

A.76.80

B.80

C.88

D.86.80

4. If the cost price of 10 articles is equal to the selling price of 16 articles, then the loss per cent is-

A.30 %

B.37.5%

C.42.5%

D.45%

5. The total cost of 8 buckets and 5 mugs is ₹92 and the total cost of 5 buckets and 8 mugs is ₹77. Find the cost of 2 mugs and 3 buckets.

A.₹35

B.₹70

C.₹30

D.₹38

6. If theere is a profit of 20% on the cost price, the percentage of profit on the sale price is

A.50/3%

B.12%

C.46/3%

D.16%

7. If the cost price of 18 articles is equal to the selling price of 16 articles, the gain or loss is

A.25% gain

B.25/2% loss

C.25% loss

D.25/2% gain

8. The owner of a watch shop charges his customers 22%more than the cost price. If a customer paid ₹8,906 for a wrist watch then what was the cost price of the wrist watch?

A.₹7,300

B.₹7,500

C.₹7,700

D.₹7,900

9. 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

10. Vinay sold an item for ₹7,200 and incurred a loss of 20%. At what price should he have sold the item to have gained a profit of 20%?

A.₹10,800

B.₹8,950

C.₹11,200

D.Cannot be determined

11. A, B and C entered into partnership in business A got 3/5 of the profit and B and C distributed the remaining profit equally. If C got ₹ 400 less than A, the total profit was

A.₹1600

B.₹1200

C.₹1000

D.₹800

12. If Suresh sells an article at a price of ₹9300, he incurs a loss of ₹3100. At what price should he sell the article so that he gets a profit of 25%?

A.₹7250

B.₹7350

C.₹7650

D.₹7750

### Solutions of Questions on Profit and Loss

**Ques:1)** Ans B

Let the Cost Price be ₹100, then Selling Price = ₹120

Gain = SP – CP => 120 – 100 = 20

Gain % = 20/120 x 100 = 50/3%

**Ques:2)** Ans C

Cost Price = (791000 x 100) / 13 = ₹700000

Gain = 791000 – 700000 = ₹91000

**Ques:3)** Ans B

Let xbe the cost price of the shirt,

x X 80/100 = 64

x = (64 x 100)/80 = ₹80

**Ques:4)** Ans 2

Loss percent = (16 – 10)/16 x 100 = 6/16 x 100 = 37.5%

**Ques:5)** Ans A

Let CP of 1 bucket be x and CP of 1 mug be y

8x + 5y = 92……..(i)

5x + 8y = 77……..(ii)

Multiplying equation (i) by 5 and equation (ii) by 8

40x + 25y – 40x – 64y = 460 – 616

=> -39y = -156

=> y = 4

Therefore 8x + 20 = 92

=>8x = 92 – 20 = 72

=> x = 9

CP of 2 mugs and 3 buckets

= 2 x 4 + 3 x 9 = ₹35

**Ques:6)** Ans A

Let Cost Price = ₹x

S.P = 120x/100 = ₹6x/5 ; Gain = ₹x/5

Gain Percent = x/5/6x/5 x 100

100/6 = 50/3%

**Ques:7)** Ans 4

Percentage profit = (18 – 16) / 16 x 100 = 25/2%

**Ques:8)** Ans A

Let the CP of the wrist watch be ₹x

122% of x = ₹8906

=> 122x/100 = 8906

=>₹(8906 x 100)/122 = ₹7300

**Ques:9)** Ans B

Let SP be ₹x

CP = 2x/3 ; Gain = x – 2/3x = x/3

Gain percent = x/3 / 2x/3 X 100 = 50

**Ques:10)** Ans A

CP of article = 7200 x 100/80

=₹9000

SP of article for a gain of 20%

= (9000×120)/100 = 10800

**Ques:11)** Ans C

Let x be the profit

A’s share in profit = ₹3x/5

B’s share in profit = ₹x/5

C’s share in profit = ₹x/5

(3x/5 – x/5) = 400

=> 2x/5 = 400 ; x = (400×5)/ 2 => ₹1000

**Ques:12)** Ans D

CP of the article = ₹(9300-3100) =₹6200

SP = (6200×125)/100 = ₹7750