Profit and Loss Questions for SBI PO, IBPS PO
Profit n Loss is most important topics among all the Bank and Insurance exams like SBI PO, IBPS PO, IBPS RRB Scale 1, IBPS RRB Office Assistant, LIC AAO, NIACL, SBI Clerk, IBPS Clerk Etc.
Profit and loss are the terms related to transactions in trade and business. Whenever a purchased article is sold, then either profit is earned or loss is incurred. This chapter teaches us how to calculate such profit and loss.
Cost Price (CP) This is the price at which an article is purchased.
Selling Price (SP) This is the price at which an article is sold.
Overhead Charges Such charges are the extra expenditures on purchased goods apart from the actual cost price. Such charges include freight charges, rent, salary of employees, repairing cost on purchased articles etc. Point to be noted that overhead charges are not taken into consideration, if not given in the question.
Profit (SP > CP) When an article is sold at more price than its cost price, then profit is earned. In other words, SP is always greater than CP in case of profit.
Loss (SP < CP) When an article is sold at less price than its cost price, then loss is incurred. In other words, SP is always less than CP in case of loss.
In this “Profit n Loss Questions for SBI PO”, we will discuss all types of Profit n Loss questions with short tricks and formulas. So we can give better performance if we find Profit n Loss questions in SBI PO Pre 2020.
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Here are some
Profit and loss Questions with Solution for SBI PO 2020
Profit n Loss High-Level Questions for Bank PO
Question: The MRP of a article is 60% above its manufacturing cost. The article is sold through a retailer, who earns 19% profit on his purchase price. What is the approx. profit percentage for the manufacturer who sells his article to the retailer? The retailer gives 15% discount on MRP.
Options:
15.2%
14.2%
13%
12.5%
None of these
Explanation:
The manufacturer sells the product to retailer, and then retailer sells to the customer.
Assume manufacturing cost = 100 and manufacturer profit = x
As Maximum Retail Price (MRP) of a product is 60% above its manufacturing cost,
MRP = 160% of 100 = 160
The retailer gives 15% discount on MRP. So, customer price is 85% of MRP.
Buyer Price = 85% of 160 = 136
Manufacturer makes x rupees profit, and then retailer makes 19% profit.
So, 119% of (100 + x) = 136
⇒ 119 (100 + x) = 13600
⇒ (100 + x) = 114.28
⇒ x = 14.28
Hence, Manufacturer profit = 14.2%
The correct option is B..
Profit n Loss Questions for LIC AAO
Questions: An Article costs Rs. 5000 and it is marked up 40% by the shopkeeper. A customer walks into the shop and seems really interested in the article. Sensing this, the shopkeeper gets greedy and he raises the markup % to 80% and gives a discount of 20% to the customer. How much more/less money would he had made, had he not gotten greedy?
Rs. 200 more
Rs. 200 less
Rs. 400 more
Rs. 400 less
None of these
Explanation: We can compare Selling Price to get the answer.
First Scenario: When markup was 40%
= 140% of 5000 = 7000
Second Scenario: When there is markup of 80 % and then a discount of 20%
= 80% of 180% of 5000 = 7200
In the second scenario, he is earning Rs. 200 less.
So we can say that he would have earned Rs. 200 less, had he not gotten greedy.
Hence, option B is correct.
Profit n Loss Questions for IBPS Clerk
Question: A firm of readymade garments makes both men’s and women’s shirts. Its average profit is 5% of the sales. Its profit in men’s shirts average 9% of the sales and women’s shirts comprise 60% of the output. The average profit per sale rupee in women shirts is
0.0266
0.0466
0.0433
0.0233
None of these
Explanation:
Let the total sales be Rs. 100
Women's shirt comprise 60% of the output
⇒ Rs. 60 out of Rs. 100 is sales of female’s shirts
∴ Men's shirts comprise (100 – 60) = 40% of the output
⇒ Rs. 40 out of Rs. 100 is the sales of male’s shirts
∴ Average profit from men's shirt = 9% of 40 = Rs. 3.6
Overall average profit = 5 % of 100 = Rs. 5
∴ Average profit from women's shirts = 5 – 3.6 = Rs. 1.4
This is from the sale of Rs. 60
|
∴ The profit per rupee is |
1.4 |
= 0.0233 |
|
60 |
∴ The average profit per sale rupee in women shirts is Rs. 0.0233
Hence, option D is correct.
Profit n Loss Questions for IBPS PO
Question: A costs twice as much as B. A is sold at a loss of 10% and B is sold at 7/5th of its price. If selling price of A is Rs. 1200 more than selling price of B, what is the cost price of A?
Rs. 2400
Rs. 3000
Can't be determined
Rs. 6000
None of these
Explanation:
Let the cost of B be 100x ( for the sake of ease in computation)
So the cost of A becomes 200x
Now SP of A becomes 90% of 200x = 180x
|
And SP of B becomes 100x × |
7 |
= 140x |
|
5 |
The difference between both of them is 40x
Since this difference corresponds to Rs. 1200, 40x = 1200 or x = 30
There cost of A becomes 200 × 30 = Rs. 6000
Hence, option D is correct.
We hope, the above
Profit n Loss Questions for LIC AAO and IBPS PO will help you to crack LIC AAO 2020, if you want to take all
Arithmetic Miscellaneous Questions Quiz for IBPS PO 2020, and take a free full mock test for LIC AAO 2020. Here are the links:
Quantitative Aptitude for SBI PO 2020
Free Full Mock Test for LIC AAO 2020
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Team Smartkeeda
