AMCAT Quantitative Ability: Profit & Loss 2 — Questions and Answers
Question 1: A trader sells an article at a loss of 15%. If the selling price had been Rs 60 more, there would have been a gain of 10%. Find the cost price.
- Rs 200
- Rs 240 (Correct answer)
- Rs 180
- Rs 260
Correct answer: Rs 240
1.1C − 0.85C = 60 → 0.25C = 60 → C = Rs 240.
SP at 10% gain = 1.1C. SP at 15% loss = 0.85C. Difference = 0.25C = Rs 60. C = Rs 240.
Question 2: By selling 20 items, a vendor gains the cost price of 5 items. What is his profit percentage?
- 20%
- 25% (Correct answer)
- 15%
- 30%
Correct answer: 25%
Profit = 5 CP on total cost of 20 CP. Profit% = 5/20 × 100 = 25%.
Let each item cost Rs 1. Total CP = 20. Profit = 5. Profit % = 5/20 × 100 = 25%.
Question 3: An article is sold at 20% profit. If its cost price is increased by 10% but the selling price remains the same, what is the new profit percentage?
- 9.1% (Correct answer)
- 10%
- 12%
- 8%
Correct answer: 9.1%
Let CP=100. SP=120. New CP=110. Profit=10. Profit%=10/110×100=9.09%.
Original CP = 100, SP = 120 (20% profit). New CP = 110 (10% rise). Profit = 120 − 110 = 10. Profit % = 10/110 × 100 ≈ 9.09%.
Question 4: A merchant marks his goods 30% above cost and allows a 10% discount. His profit percentage is:
- 17% (Correct answer)
- 20%
- 15%
- 19%
Correct answer: 17%
Let CP=100. MP=130. SP=130×0.9=117. Profit=17%.
CP = 100. MP = 130. After 10% discount: SP = 130 × 0.90 = 117. Profit = 17%.
Question 5: Two articles are sold at Rs 1200 each. On one there is a 20% profit and on the other a 20% loss. Net result is:
- 4% loss (Correct answer)
- No gain/loss
- 4% profit
- 2% loss
Correct answer: 4% loss
CP1=1200/1.2=1000. CP2=1200/0.8=1500. Total CP=2500. Total SP=2400. Loss=100. Loss%=4%.
CP1 = 1200/1.2 = 1000. CP2 = 1200/0.8 = 1500. Total CP = 2500. Total SP = 2400. Loss = 100. Loss % = 100/2500 × 100 = 4%.
Question 6: A TV is sold at 25% profit. If the SP is Rs 6250, what is the CP?
- Rs 5000 (Correct answer)
- Rs 4500
- Rs 4800
- Rs 5500
Correct answer: Rs 5000
SP = CP × 1.25 = 6250 → CP = 6250/1.25 = Rs 5000.
SP = 1.25 × CP = 6250. CP = 6250 / 1.25 = Rs 5000.
AMCAT Quantitative Ability: Profit & Loss 2
A trader sells an article at a loss of 15%.
If the selling price had been Rs 60 more, there would have been a gain of 10%.
Find the cost price.