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High-Level Profit and Loss Questions for SBI PO, RBI Grade B and Other Banking Examination

Question

The ratio between marked price of a same watch in two shops A and B is 5:3. In shop A, watchavailable at two successive discounts of 15% and 20%, while in shop B, watch available at two successive discounts of d% and 18%. If selling price of watchat shop B is less than that of selling price of watchat shop A by 2/5th of the selling price of watchat shop A, then find the value of ‘d’?

A 30.81% Correct Answer Incorrect Answer
B 12.5% Correct Answer Incorrect Answer
C 47.93% Correct Answer Incorrect Answer
D 17.07% Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Let marked price of watch at shop A and B be Rs. 500x and Rs. 300x respectively.
Selling price of watch at shop A = 500x × 85/100 × 80/100 = Rs. 340x
Selling price of watch at shop B = 300x × (100-d)/100 × 82/100
ATQ –
340x - 300x × (100-d)/100 × 82/100 = 340x × 2/5
34000 – 24600 + 246d = 13600
246d = 4200
d = 4200/246
d = 17.07%

Question

A shopkeeper marked an article at ____% above the cost price and sold it after two consecutive discounts of 20% and 10%. In this transaction the shopkeeper had a profit of ____%.

The values given in which of the following options will fill the blanks in the same order in which is it given to make the above statement true:

I. 90, 26 II. 55, 11.6 III. 40, 2 IV. 50, 8

A Only I Correct Answer Incorrect Answer
B Only I and III Correct Answer Incorrect Answer
C Only I, III and IV Correct Answer Incorrect Answer
D Only II, III and IV Correct Answer Incorrect Answer
E Only II and IV Correct Answer Incorrect Answer

Solution

Equivalent single discount of two consecutive discounts = 10 + 20 – (10x20)/100 = 28% Let the cost price of the article = Rs. 100 Option (I): Marked price of the article = Rs. 190 So, the selling price of the article = 0.72 x 190 = Rs. 136.8 So the profit percent = 36.8% Therefore, Option (I) can’t be the answer. Option (II): Marked price of the article = Rs. 155 So, the selling price of the article = 0.72 x 155 = Rs. 111.6 So the profit percent = 11.6% Therefore, Option (II) can be the answer. Option (III): Marked price of the article = Rs. 140 So, the selling price of the article = 0.72 x 140 = Rs. 100.8 So the profit percent = 0.8% Therefore, Option (III) can’t be the answer. Option (IV): Marked price of the article = Rs. 150 So, the selling price of the article = 0.72 x 150 = Rs. 108 So the profit percent = 8% Therefore, Option (IV) can be the answer.

Question

A shopkeeper marked an article at ____% above the cost price and sold it after two consecutive discounts of 30% and 20%. In this transaction the shopkeeper had a profit of ____%.

The values given in which of the following options will fill the blanks in the same order in which is it given to make the above statement true:

I. 80, 12            II. 85, 6             III. 92, 7.52             IV. 95, 8

A Only III Correct Answer Incorrect Answer
B Only I and III Correct Answer Incorrect Answer
C Only I, III and IV Correct Answer Incorrect Answer
D Only II, III and IV Correct Answer Incorrect Answer
E Only II and IV Correct Answer Incorrect Answer

Solution

Equivalent single discount of two consecutive discounts = 20 + 30 – (20x30)/100 = 44% Let the cost price of the article = Rs. 100 Option (I): Marked price of the article = Rs. 180 So, the selling price of the article = 0.56 x 180 = Rs. 100.8 So the profit percent = 0.8% Therefore, Option (I) can’t be the answer. Option (II): Marked price of the article = Rs. 185 So, the selling price of the article = 0.56 x 185 = Rs. 103.6 So the profit percent = 3.6% Therefore, Option (II) can’t be the answer. Option (III): Marked price of the article = Rs. 192 So, the selling price of the article = 0.56 x 192 = Rs. 107.52 So the profit percent = 7.52% Therefore, Option (III) can be the answer. Option (IV): Marked price of the article = Rs. 195 So, the selling price of the article = 0.56 x 195 = Rs. 109.2 So the profit percent = 9.2% Therefore, Option (IV) can’t be the answer.

Question

Dharmesh marked up the price of shoes by 50% and sold at (x – 10) % discount and sold the mobile at 10% profit. If the cost price of mobile and shoes is Rs. 240x and Rs. 9600 and the ratio of the profit earned from mobile to shoes is 2: 1.

From the statement given in the above question which of the following can be determined.

i) Value of x

ii) Selling price of mobile

iii) Marked price of mobile

iv) Ratio of cost price of mobile to shoes

A (i) and (ii) Correct Answer Incorrect Answer
B All (i), (ii), (iii) and (iv) Correct Answer Incorrect Answer
C (i), (iii) and (iv) Correct Answer Incorrect Answer
D (i), (ii) and (iv) Correct Answer Incorrect Answer
E (i), (ii) and (iii) Correct Answer Incorrect Answer

Solution

Cost price of shoes = Rs.9600 Cost price of mobile = 240x MP of shoes = 150% of 9600 = 14400 SP of shoes = 14400 x (100 – x + 10)/100 = 144 x (110 – x) = 15840 – 144x Profit of shoes = 15840 – 144x – 9600 = 6240 – 144x Profit of mobile = 10% of 240x = 24x 24x/(6240 – 144x) = 2/1 12x = 6240 – 144x 156x = 6240 x = 40 Cost price of mobile = 240 x 40 = 9600 Selling price of mobile = 9600 x 110% = Rs. 10560 Ratio of CP of mobile to shoes = 9600: 9600 = 1: 1 We cannot find the marked price of the mobile.

Question

A shopkeeper has two items Jeans and Shirt and cost price of the jeans is 50% more than that of cost price of shirt. Marked price of jeans is 20% above the cost price and the marked price of shirt is 50% above the cost price. Sam bought both jeans and shirt at the marked price. Sam sold jeans to Rinu at Rs. 9900 at 10% profit.

From the statement given in the above question which of the following can be determined.

i) Cost price of jeans

ii) Marked price of shirt

iii) What is the initial mark up amount on Jeans

iv) Difference between the cost price of Shirt and marked price of Jeans

A Only (i) Correct Answer Incorrect Answer
B Only (i) and (iii) Correct Answer Incorrect Answer
C Only (i), (ii) and (iii) Correct Answer Incorrect Answer
D All (i), (ii), (iii) and (iv) Correct Answer Incorrect Answer
E Only (i), (iv) and (ii) Correct Answer Incorrect Answer

Solution

Cost price of Shirt = x Cost price of jeans = 150% of x = 3x/2 Marked price of jeans = 120% of 3x/2 = 9x/5 Marked price of shirt = 150% of x = 3x/2 110% of 9x/5 = 9900 990x = 9900 * 500 x = 5000 Cost price of jeans = 3 x 5000/2 = 7500 Marked price of shirt = (3/2) x 5000 = 7500 Mark up amount on jeans = 9x/5 – 3x/2 = 1500 Marked price of jeans = (9/5) x 5000 = Rs 9000 Required difference = 9000 – 5000 = Rs 4000

Question

A and B went for shopping to buy a gift for C on her swayamvar anniversary. A went to deer shop. He wanted to buy her a spotted deer. The shopkeeper gave A a discount of 20% on the list price. A having only Rs. 1000 with him, just the exact amount of money to pay the shopkeeper. Had A gone to the next shop, XYZ and co. who offers a discount of only 12%, what is the amount that A has fallen short of?

A 150 Correct Answer Incorrect Answer
B 140 Correct Answer Incorrect Answer
C 160 Correct Answer Incorrect Answer
D 100 Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Let list price = M So, M × (100 - D)% =  1000 => M × (100 - 20)% =  1000 => M × 80% = 1000 => M = Rs.1250 Now there is 12% off, New SP = M × (100-D)% = 1250 × (100-12)% => 88% of 1250 = Rs.1100 Hence A has fallen short of = 1100 – 1000 = Rs.100 Alternate Method: When 20% off, it means, 80% = 1000 1% = 12.5 When 12% off, it means, 88% = 12.5 × 88 = 1100 Hence A has fallen short of = 1100 – 1000 = Rs.100

Question

Ashok purchases an article for Rs. 1800. He marks the price of the article in such a way that after allowing x% discount on the marked price he makes 12% profit but after allowing 2x% discount on the marked price he makes 48% loss. What is the marked price of the article(approx)? 

A Rs 3213 Correct Answer Incorrect Answer
B Rs 2911 Correct Answer Incorrect Answer
C Rs 3015 Correct Answer Incorrect Answer
D Rs 3100 Correct Answer Incorrect Answer
E Rs 3200 Correct Answer Incorrect Answer

Solution

SP when Profit = 12% = 112% of 1800 = 2016 SP when loss = 48% = (100 - 48)% of 1800 = 52% of 1800 = Rs 936 Let the MP = Rs x then (100 - a)% of x = 2016 ……(i) (100 – 2a)% of x = 936 …….. (ii) Divide equation (i) by (ii) [(100 – a) % of x]/[(100 – 2a)% of x] = 2016/936 (100 – x)/(100 – 2x) = 28:13 1300 – 13x = 2800 – 56x 1500 = 43x x = 1500/43 = 35% approx (100 – x)% of x = 2016......... (i) (100 – 35)% of x = 2016 65% of x = 65 × x = 2016 × 100 x = 3101.53 x = Rs 3100 approx (MP of the article)

Question

The sum of the MRP of articles A and B is Rs. 11500. Article B is marked 45% above its cost price and while selling ‘y’ % discount is given on it. The ratio between the cost price and selling price of article A is 15:17 respectively. The cost price of article B is Rs. 500 less than the cost price of article A. If the profit on article A while selling is Rs. 600, then find out the difference between the MRP of article A and the selling price of article B.

A Rs. 1200 Correct Answer Incorrect Answer
B Rs. 1500 Correct Answer Incorrect Answer
C Rs. 600 Correct Answer Incorrect Answer
D Cannot be determined Correct Answer Incorrect Answer
E Rs. 1000 Correct Answer Incorrect Answer

Solution

The ratio between the cost price and selling price of article A is 15:17 respectively.

Let’s assume the cost price and selling price of article A is ‘15z‘ and ‘17z‘ respectively.

If the profit on article A while selling is Rs. 600.

selling price of article A - cost price of article A = profit on article A

17z-15z = 600

2z = 600

z = 300

cost price of article A = 15z

= 15x300

= Rs. 4500

The cost price of article B is Rs. 500 less than the cost price of article A.

cost price of article B = Rs. 4500 - Rs. 500

= Rs. 4000

Article B is marked 45% above its cost price and while selling ‘y’ % discount is given on it.

MRP of Article B = Rs. 4000 of (100+45)%

= Rs. 4000 of 145%

= Rs. 5800

The sum of the MRP of articles A and B is Rs. 11500.

MRP of Article A = Rs. 11500 - Rs. 5800

= Rs. 5700

For getting the required difference, we need the selling price of article B. But as per the given information in the question, we cannot determine the selling price of article B. Hence the answer cannot be determined.

Question

Each of the articles was marked 55% above its cost price and while selling ‘y’ % discount was given on it. The selling price of the article M is Rs. 7440. The cost price of article M is Rs. 575 less than the selling price of article N. The selling price of the article M is 24% more than the cost price of article N. The sum of the MRP of article M and N together is Rs. 19220. Find out the value of ‘y’ and the difference between the profit obtained on article M and N respectively.

A 25, 50 Correct Answer Incorrect Answer
B 30, 80 Correct Answer Incorrect Answer
C 30, 75 Correct Answer Incorrect Answer
D 25, 65 Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

The selling price of the article M is Rs. 7440. The selling price of the article M is 24% more than the cost price of article N. Rs. 7440 = (100+24)% of cost price of article N 124% of cost price of article N = 7440 1.24 x (cost price of article N) = 7440 cost price of article N = 7440/1.24 = Rs. 6000 MRP of article N = 6000 of (100+55)% = 6000 of 155% = Rs. 9300 The sum of the MRP of article M and N together is Rs. 19220. MRP of article M = 19220-9300 = Rs. 9920 cost price of article M of (100+55)% = 9920 cost price of article M of 155% = 9920 cost price of article M = 9920/1.55 = Rs. 6400 The cost price of article M is Rs. 575 less than the selling price of article N.  6400 = selling price of article N - 575 selling price of article N = 6400+575 = Rs. 6975 Each of the articles was marked 55% above its cost price and while selling ‘y’ % discount was given on it. MRP of article M of (100-y)% = selling price of the article M 9920 of (100-y)% = 7440 99.20x(100-y) = 7440 (100-y) = 75 y = 100-75 y = 25 Difference between the profit obtained on article M and N = (7440-6400)-(6975-6000) = 1040-975 = 65

Question

The ratio between the marked price and cost price of an article is B:A respectively. The ratio between the selling price and marked price of the article is (B+2):(B+3) respectively. If the discount given on the article while selling is Rs. 50 and the marked price of the article is Rs. 300, then which of the following statements is/are correct? (It is assumed that the article is marked 50% above its cost price.)

(i) The profit on the article while selling is Rs. 100. 

(ii) The value of ‘B’ is a prime number.

(iii) The cost price of the article is multiple of 12.

A Only (iii) Correct Answer Incorrect Answer
B Only (ii) Correct Answer Incorrect Answer
C Only (i) and (iii) Correct Answer Incorrect Answer
D Only (ii) and (iii) Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

If the discount given on the article while selling is Rs. 50 and the marked price of the article is Rs. 300. Marked price of the article = Rs. 300 Discount = Rs. 50 Selling price of the article = 300-50 = Rs. 250 The ratio between the selling price and marked price of the article is (B+2):(B+3) respectively. (B+2)/(B+3) = 250/300 (B+2)/(B+3) = 5/6 6B+12 = 5B+15 6B-5B = 15-12 B = 3 ratio between the selling price and marked price of the article = (B+2):(B+3) = (3+2):(3+3) = 5:6    Eq.(i) The ratio between the marked price and cost price of an article is B:A respectively. marked price : cost price = B:A = 3 : A   Eq.(ii) From Eq.(i) and Eq.(ii), marked price : selling price : cost price = 3x2 : 5 : 2A  = 6 : 5 : 2A It is assumed that the article is marked 50% above its cost price. Let’s assume the cost price of the article is 6y. Then cost price = 2Ay 6y = (100+50)% of 2Ay 6 = (150 x 2A)/100 6 = (300A)/100 A = 2 So marked price : selling price : cost price = 6 : 5 : 2A = 6 : 5 : 2x2 = 6 : 5 : 4 We know that the marked price of the article is Rs. 300 and the selling price of the article is Rs. 250. So by the above given ratio, cost price of the article = (300/6)x4 = Rs. 200 (i) The profit on the article while selling is Rs. 100.  profit on the article while selling = selling price - cost price = 250-200 = Rs. 50 So the given statement is not true. (ii) The value of ‘B’ is a prime number. The given statement is true. Because the value of ‘B’ is prime. (iii) The cost price of the article is multiple of 12. cost price of the article = Rs. 200 So the given statement is not true. Because it is not the multiple of 12.

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