One app for all your study abroad needs
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.
Table of Contents
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
- 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%
- 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%
- 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
- 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
- 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%
- 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
- 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
- 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
- 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%
- 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
- 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%
- 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
- 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%
- 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
- 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
- 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
- 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
- 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%
- 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
- 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
- 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 :
- Ensure a solid understanding of basic terms like cost price, selling price, profit, and loss.
- Relate questions to real-life situations to enhance practical understanding.
- Familiarize yourself with profit percentage, loss percentage, and the overall profit and loss formulas.
Also Read: Questions of Syllogism Reasoning | Verbal Reasoning
FAQs
Proficiency in Profit and Loss is vital as it forms the basis for complex quantitative aptitude problems, assessing financial acumen.
Yes, understanding key formulas like profit percentage and loss percentage can expedite problem-solving in Profit and Loss questions.
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.
RELATED POSTS
This was all about the “20 + Profit and Loss Questions and Answers”. For more such informative blogs, check out our Study Material Section, or you can learn more about us by visiting our Indian exams page.