# Be thorough with profit and loss problems

Hyderabad: This article is in continuation to the last article on preparation for the Sub-Inspector of Police recruitment exam. Here are some practice questions, answers and explanations on the Profit and Loss topic. 1. A man buys a cycle for Rs 1400 and sells it at a loss of 15%. What is the selling price […]

Published Date - 26 May 2022, 11:20 PM

**Hyderabad:** This article is in continuation to the last article on preparation for the Sub-Inspector of Police recruitment exam. Here are some practice questions, answers and explanations on the Profit and Loss topic.

**1. A man buys a cycle for Rs 1400 and sells it at a loss of 15%. What is the selling price of the cycle?**

A. Rs 1090 B. Rs 1160 C. Rs 1190 D. Rs 1202

Ans: C

**Explanation:**

Cost price = 1400

SP = 15% loss on Cost Price

= (100-15)% of Rs 1400

= Rs 85/100 × 1400 = Rs 1190

**2. The selling price of 10 oranges is the cost price of 13 oranges. Then the profit percentage is**

A. 30% B. 10% C. 13% D. 3%

Ans: A

**Explanation:**

Let the CP of 1 orange = Rs 1

The CP of 10 oranges = Rs 10

The CP of 13 oranges = Rs 13

The SP of 10 oranges = Rs 13

Gain per cent = (13-10)/10 * 100 = 30%

**3. A man buys 12 articles for Rs 12 and sells them at the rate of Rs 1.25 per article. His gain percentage is:**

A. 20 B. 25 C. 15 D. 18

Ans: B

**Explanation:**

Cost Price = 12

Selling Price = 12 × 1.25 = 15

Total Profit = 15-12 = Rs 3

% gain = (3/12) x 100 = 25%

**4. A horse and a cow were sold for Rs 12,000 each. The horse was sold at a loss of 20% and the cow at gain of 20%. His entire transaction resulted in?**

A. No loss or gain B. Gain of Rs 1000

C. Loss of Rs 1000 D. Gain of Rs 2000

Ans: C

**Explanation:**

Total SP = Rs 24000

CP = 100/(100-loss%) × SP

CP of horse = Rs [(100/80) × 12000] = 15000

CP = 100/(100 gain%) × SP

CP of cow = Rs[(100/120) × 12000] = 10000

Total C.P. = Rs 25000

Loss = Rs (25000-24000) = Rs 1000

**5. A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs 392, what was his profit?**

A. Rs 18.20 B. Rs 70

C. Rs 72 D. Rs 88.25

Ans: C

**Explanation:**

Selling Price = 392

CP = 100/(100 gain%) × SP

CP = Rs (100/122.5 × 392) = Rs (1000/1225 × 392) = Rs 320

Profit = Rs (392-320) = Rs 72

**6. What profit/loss per cent did Ramu earn if he purchased an item of Rs 5,600 and sold it at three-fourth of its cost price?**

A. Loss of 20 per cent B. Gain of 25 per cent

C. Neither gain or loss D. None of the above

Ans: D

**Explanation:**

CP = Rs 5600

SP = Rs 5600 × ¾ = Rs 4200

Loss = Rs 5600-4200 = Rs 1400

Loss percentage = 1400 × 100/5600 = 25%

**By Banda Ravipal Reddy**

**Director, SIGMA**

**Sai Institute of General Mental Ability**

**Hyderabad**