This Article consist of most important ” Profit and Loss Questions and Answers ” topic that are mostly asked in all competitive exams. We collected these questions from the students who appeared in exams. Now try to solve these questions.

## Profit and Loss Questions and Answers

**Question : 1** A man bought a horse and a cart. If he sold the horse at 10 % loss and the cart at 20 % gain, he would not lose anything; but if he sold the horse at 5% loss and the cart at 5% gain, he would lose Rs. 10 in the bargain. The amount paid by him was Rs._______ for the horse and Rs.________ for the cart.

A. Cost price of horse = Rs. 200 & the cost price of cart = 500

B. Cost price of horse = Rs. 200 & the cost price of cart = 300

C. Cost price of horse = Rs. 400 & the cost price of cart = 100

D. Cost price of horse = Rs. 400 & the cost price of cart = 200

**Show Answer**

**Correct Answer : ** **D**

**Explanation : **

Let x be the cost price of the horse and y be the cost price of the cart.

In the first sale there is no loss or profit. (i.e.) The loss obtained is equalto the gain.

Therefore (10/100) * x = (20/100) * y

X = 2 * y —————–(1)

In the second sale, he lost Rs. 10. (i.e.) The loss is greater than the profit by Rs. 10.

Therefore (5 / 100) * x = (5 / 100) * y + 10 ——-(2)

Substituting (1) in (2) we get

(10 / 100) * y = (5 / 100) * y + 10

(5 / 100) * y = 10

y = 200

From (1) 2 * 200 = x = 400

**Question : 2** A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

A. 3

B. 4

C. 5

D. 6

**Show Answer**

**Correct Answer : ** **C**

**Explanation : **

C.P. of 6 toffees = Re. 1

S.P. of 6 toffees = 120% of Re. 1 = Rs. 6/5

For Rs. 6/5, toffees sold = 6.

For Re. 1, toffees sold = 6 x 5/6 = 5

**Question : 3** 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 the selling price is the profit?

A. 30%

B. 70%

C. 100%

D. 250%

**Show Answer**

**Correct Answer : ** **B**

**Explanation : **

Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs. 420.

Profit = Rs. (420 – 125) = Rs. 295.

Required percentage = (295/420) x 100 %

= 1475/21 %

= 70% (approximately)

**Question : 4 ** The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

A. 15

B. 16

C. 18

D. 25

**Show Answer**

**Correct Answer : ** **B**

**Explanation : **

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.

S.P. of x articles = Rs. 20.

Profit = Rs. (20 – x).

==> {(20 – x)/x} * 100 = 25

==> 2000 – 100x = 25x

125x = 2000

x = 16

**Question : 5 ** Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

A. 32/7%

B. 60/11%

C. 10%

D. 12%

**Show Answer**

**Correct Answer : ** **B**

**Explanation : **

Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.

Selling Price (S.P.) = Rs. 5800.

Gain = (S.P.) – (C.P.) = Rs.(5800 – 5500) = Rs. 300.

Gain % = (300/550) x 100 % = 60/11 %