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20 + Profit and Loss Questions and Answers | Quantitative Aptitude

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Profit and Loss Questions and Answers

Profit and Loss isn’t just about numbers; it’s about equipping yourself with some must-have skills for those tricky math tests. I

This blog provides a list of 20+ Profit and Loss questions that are part of the Quantitative Aptitude Section in Competitive Exams.

We’re not just diving into calculations; we’re taking a stroll through different scenarios, making complicated things sound easy-peasy. 

What are 20+ Profit and Loss Questions?

Profit and Loss questions assess an individual’s ability to calculate gains and losses in financial transactions. These questions involve determining the cost price, selling price, profit percentages, and loss percentages. A diverse set of scenarios, ranging from simple to complex, is covered to ensure a thorough understanding of Profit and Loss concepts.

Must Read: Classification Reasoning Questions | Verbal Reasoning

20 + Profit and Loss Questions and Answers 

  1. The cost price of a smartphone is $400, and it is sold for $550. Calculate the profit percentage.

a) 20%

b) 30%

c) 35%

d) 40%

Answer: b) 30%

  1. If a shirt is bought for $25 and sold for $40, find the profit percentage.

a) 40%

b) 50%

c) 60%

d) 70%

Answer: c) 60%

  1. A book is sold at a loss of 15%, and the selling price is $85. Find the cost price.

a) $100

b) $90

c) $80

d) $75

Answer: a) $100

  1. If the profit percentage is 25%, and the selling price is $500, find the cost price.

a) $400

b) $420

c) $450

d) $480

Answer: b) $420

  1. The cost price of a camera is $800, and it is sold for $950. Calculate the profit percentage.

a) 10%

b) 15%

c) 18%

d) 20%

Answer: b) 15%

  1. A pair of jeans is sold for $75, resulting in a loss of 10%. Find the cost price.

a) $85

b) $80

c) $70

d) $65

Answer: a) $85

  1. If an item is sold at a loss of 20%, and the selling price is $400, find the cost price.

a) $480

b) $500

c) $420

d) $450

Answer: c) $420

  1. A watch is sold at a profit of 18%, and the selling price is $180. Find the cost price.

a) $140

b) $150

c) $160

d) $170

Answer: a) $140

  1. The cost price of a laptop is $1200, and it is sold for $1500. Calculate the profit percentage.

a) 15%

b) 20%

c) 25%

d) 30%

Answer: b) 20%

  1. If an article is sold for $96 with a profit of 20%, find the cost price.

a) $80

b) $85

c) $90

d) $100

Answer: a) $80

  1. A pair of shoes is bought for $50 and sold for $75. Calculate the profit percentage.

a) 30%

b) 40%

c) 50%

d) 60%

Answer: c) 50%

  1. If the profit percentage is 12%, and the selling price is $560, find the cost price.

a) $500

b) $520

c) $540

d) $550

Answer: d) $550

  1. The cost price of a refrigerator is $1000, and it is sold for $1200. Calculate the profit percentage.

a) 15%

b) 18%

c) 20%

d) 25%

Answer: c) 20%

  1. If an item is sold at a loss of 15%, and the selling price is $85, find the cost price.

a) $100

b) $90

c) $80

d) $75

Answer: a) $100

  1. A smartphone is sold at a loss of 10%, and the selling price is $450. Find the cost price.

a) $500

b) $480

c) $420

d) $400

Answer: a) $500

  1. If the profit percentage is 30% and the selling price is $650, find the cost price.

a) $500

b) $520

c) $550

d) $600

Answer: c) $550

  1. A jacket is sold at a profit of 25%, and the selling price is $125. Find the cost price.

a) $95

b) $100

c) $105

d) $110

Answer: b) $100

  1. The cost price of a blender is $80, and it is sold for $100. Calculate the profit percentage.

a) 15%

b) 20%

c) 25%

d) 30%

Answer: b) 20%

  1. If a shirt is sold at a profit of 18%, and the selling price is $72. Find the cost price.

a) $60

b) $64

c) $66

d) $68

Answer: a) $60

  1. If the profit percentage is 40%, and the cost price is $500, find the selling price.

a) $700

b) $800

c) $900

d) $1000

Answer: c) $900

  1. The cost price of a camera is $1200, and it is sold for $1500. Calculate the profit percentage.

a) 15%

b) 20%

c) 25%

d) 30%

Answer: b) 20%

Tips to Solve Profit and Loss Questions

Here we have mentioned certain tips and tricks to solve questions on profit and loss :

  1. Ensure a solid understanding of basic terms like cost price, selling price, profit, and loss.
  2. Relate questions to real-life situations to enhance practical understanding.
  3. Familiarize yourself with profit percentage, loss percentage, and the overall profit and loss formulas.

Also Read: Questions of Syllogism Reasoning | Verbal Reasoning

FAQs

Why is mastering Profit and Loss important for competitive exams?

Proficiency in Profit and Loss is vital as it forms the basis for complex quantitative aptitude problems, assessing financial acumen.

Are there shortcuts for quickly solving Profit and Loss questions?

Yes, understanding key formulas like profit percentage and loss percentage can expedite problem-solving in Profit and Loss questions.

How can students enhance their problem-solving skills in Profit and Loss?

Regular practice with a diverse set of Profit and Loss questions, ranging from simple to complex, is the most effective way to improve problem-solving skills in this area.

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