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Practice Profit and loss Questions and Answers

Even after allowing a discount of 40% on the marked price, a shopkeeper earns 50 % profit. By what percentage has the marked price been marked up above the...
A person bought some mangoes at the rate of 7 per rupee. He bought the same number of mangoes at the rate of 6 per rupee. He mixes both types and sells at ...
A shopkeeper bought oranges at 7 for a rupee and sold them at a gain of 40%. How many oranges for a rupee did he sell?
A shopkeeper sells an article for 10% profit. If he buys it for 4% less and sells it for profit then he gets Rs. 10 more. What is the original cost price?
Devesh sells his car to Pranav at a profit of 20% who sells it to Hemraj at a loss of 20%. Hemraj, after finding some scratches in the car, returns it to P...
If the price of rice has increased from Rs 40 per kg to Rs. 60 per kg, by how much percent a person has to decrease his consumption so that his expenditure...
A person buys books at Rs. 300 for 5 and sells them at Rs.740. How many books must he sell in order to earn profit of Rs. 3,520?
A dishonest seller, at the time of selling and purchasing uses weight 22% less and 30% more per kg respectively. Find the approx. percent profit earned by ...
A shopkeeper earns a profit of 30% by selling an article. What would be the approximate percent change in the profit percent, if he had paid 20% less and s...
When a shopkeeper sells an item A for Rs.52,800, he incurred a loss of 45%. If he sells another item B of same cost price in order to recover the loss incu...
A shopkeeper fixes the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is ...
Karun got 30% concession on the labelled price of an article and sold it for Rs. 8750 with 25% profit on the price he bought. What was the labelled price ?...
In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of t...
A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5% ...
Due to reduction of 25% in price of oranges a customer can purchase 4 oranges more for Rs. 16. what is original price of an orange?
A person incurs a loss of 5% be selling a watch for Rs. 1140. At what price should the watch be sold to earn 5% profit. ...
When a seller sells his article for Rs. 32,060/- , he incurs 30% loss on the transaction. At what price should he sell the article to earn 10% profit on th...
A dishonest seller, at the time of selling and purchasing uses weight 10% less and 20% more per kg respectively. Find the approx. percent profit earned by ...
A Shopkeeper marks the price of a mobile phone at Rs. 6,000/- and gives a discount of 10%. He also gives a pen drive worth Rs. 600 free with the mobile pho...
Lalit buys wheat at Rs. 20/kg and puts a price tag on it so as to earn a profit of 30%. However, his faulty balance shows 1000 gm when it is actually 600 g...
Amir sells his bike to Nitin at a profit of 30% who sells it to Rohan at a loss of 10%. Rohan, after finding some scratches in the bike, returns it to Niti...
A shopkeeper sold an article at profit of 10%. Had he bought it at 10% less and sold it for Rs. 3 more, then he would have earned a profit of 25%. Find the...
A shopkeeper sold an article at the profit of 15% and also while weighing used a weight of 920 gms. in place of 1 kg. Find out his actual total profit%?
Amit makes 900 articles at a cost of 40 paise/article. He fixed the selling price such that if only 500 articles are sold, he would have made profit of 50%...
A Shopkeeper gives 4 articles free on the purchase of every 12 articles. He also allow a discount of 20% to customer and still earn 20% profit. Find the ra...
A toy is sold for Rs. 900 at 50% profit when profit is calculated on selling price. Find the profit% on cost price?
A person bought an article and sold it at a loss of 20%. If he had bought it at 10% loss and sold it for 74 more, he would have gained 30%. Find the profit...
A fruit vendor bought 500 bananas at Rs 25 per 10 bananas. 200 bananas got spoiled and hence thrown. He sold 12 dozen bananas at the rate of Rs 20 per doze...
Kapil and Samar sold their horses at Rs 2,420 each but Kapil incurred a loss of 20%, while Samar gained 10%. What is the ratio of the cost price of the hor...
After selling 20 pens, a Shopkeeper earn a profit of the selling price of 6 books. While selling 20 books, a shopkeeper losses a selling price of 8 pens. T...
The cost price of two dozen bananas is Rs. 96. After selling 18 bananas at the rate of Rs. 36 per dozen, the shopkeeper reduced the rate to Rs. 24 per doze...
A fruit seller bought some mangoes. By selling 50% of total mangoes he got a profit of equal to 50% of his overall cost and 80% of remaining mangoes he sel...
A man finds that the cost price of 4950 articles is same as the selling price of 4500 articles. Find his profit/loss%?
The ratio between the sale price and the cost price of an article is 32 : 24. What is the ratio between the profit and the cost price of that article?
Profit on selling 40 pens equals selling price of 12 books while loss on selling 40 books equals selling price of 16 pens. Also profit percentage equals to...
A Company allow 8% commission on the total sales to its salesman but if the salesman is appointed on a fix salary of Rs. 5000 and 6% commission on the sale...
Charan went to purchase an Apple iPhone, the shopkeeper told him to pay 30% GST, if he asked the bill. Charan manages to get the discount of 10% on the act...
A Publisher published 2500 books for Rs. 175000. He gave 400 books free as samples to some books shops, besides he was able to sell 2/3rd of the remaining ...
The cost price of two dozen bananas is Rs.192 . After selling 18 bananas at the rate of Rs. 72 per dozen, the shopkeeper reduced to rate of Rs. 48 per doze...
A merchant has 150 Kg of rice, part of which he sells at 8% profit and the rest at 2% loss. If he gains 4.67% on the whole, the quantity sold at 8% profit ...

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In the Quantitative Aptitude section, questions from the topic of Profit & Loss section are often asked in competitive exams such as- SEBI Grade A, SBI PO, SBI Clerk, IBPS PO, IBPS Clerk, RBI Grade B, RBI Assistant, ECGC PO, IBPS SO, and many more.

Profit & Loss calculations are also commonly tested in competitive exams, where they are used to assess an individual's ability to analyze financial data and make decisions based on that data. Furthermore, Profit & Loss questions form a part of the Data Interpretation MCQ questions as well. Therefore, you should not leave this topic if you are preparing for any of the aforementioned exams.

Profit & Loss (P&L) is a concept in quantitative aptitude that involves determining the cost of goods sold, which includes the cost of raw materials, labor, and overhead expenses, and subtracting it from the revenue generated from the sale of goods. The difference between these two figures is either a profit or a loss.

Profit & Loss (P&L) questions are asked in quantitative aptitude for several reasons:

Assessing Mathematical Skills: P&L questions test an individual's ability to perform basic mathematical operations, such as addition, subtraction, multiplication, and division.
Measuring Problem-solving Skills: P&L questions require individuals to analyze and interpret financial data, identify relevant information, and apply mathematical and financial concepts to solve problems.
Assessing Decision-making Skills: P&L questions often involve making decisions about pricing, production, and other aspects of business operations, and they test an individual's ability to make decisions based on financial data.

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