Practice Profit and Loss with this collection of 60 aptitude questions with answers. These questions are useful for competitive exams. You will learn about profit %, loss %, discount, and marked price. Attempt to solve the question first, then check the answers and solutions. This practice improves calculation speed and accuracy.
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Profit & Loss Formulas (Quick Reference)
Symbols (used below):
- CP = cost price
- SP = selling price
- MP = marked price (list price)
- P = profit, L = loss
- p% = profit percentage, l% = loss percentage
- d% = discount percentage
- t% = tax percentage (on selling/discounted price)
- c% = commission/platform fee percentage
- E = extra expense (repairs, transport, etc.)
- N = net profit, N% = net profit percentage (usually on CP unless stated otherwise)
- Q = quantity, rate = price per unit
- C̄ = average cost per unit (mixture)
1) Basic Profit & Loss
- Profit: P = SP − CP
- Loss: L = CP − SP
- Profit %: p% = (P ÷ CP) × 100
- Loss %: l% = (L ÷ CP) × 100
2) Direct SP–CP Conversion Using %
- If profit = p%: SP = CP × (1 + p/100)
- If loss = l%: SP = CP × (1 − l/100)
- If SP and profit p% given: CP = SP ÷ (1 + p/100)
- If SP and loss l% given: CP = SP ÷ (1 − l/100)
3) Marked Price & Discount
- Discount amount: Discount = MP × (d/100)
- After discount: SP = MP × (1 − d/100)
- If SP and d% given: MP = SP ÷ (1 − d/100)
4) Markup (Marking Above CP)
- If item is marked m% above CP: MP = CP × (1 + m/100)
- With discount d%: SP = CP × (1 + m/100) × (1 − d/100)
- Profit % from markup & discount:
p% = ( (1 + m/100)(1 − d/100) − 1 ) × 100
5) Successive Discounts
- Two discounts d₁%, d₂%: SP = MP × (1 − d₁/100) × (1 − d₂/100)
- Equivalent single discount: deq% = d₁ + d₂ − (d₁d₂)/100
- More discounts: multiply all (1 − dᵢ/100)
6) Successive Percentage Changes (CP or SP Changes)
- After +a% then +b%: net factor = (1 + a/100)(1 + b/100)
- After +a% then −b%: net factor = (1 + a/100)(1 − b/100)
7) Extra Expenses (Repairs, Transport)
- Effective cost price: CPeff = CP + E
- Profit using effective CP: P = SP − CPeff
- Profit % (on effective CP): p% = (P ÷ CPeff) × 100
8) Profit Change with SP Difference
- If profit changes from p₁% to p₂% due to SP increase Δ:
Δ = CP × (p₂ − p₁)/100 - So: CP = (Δ × 100) ÷ (p₂ − p₁)
9) Selling at Same SP with Different CP Ratios
- If SP same: CP ratio depends on profit/loss:
CP = SP ÷ (1 ± %/100) - Overall profit/loss: compare total SP with total CP
10) Equal SP, One Gain x% and Other Loss x%
- Result: overall loss = x²/100 % (when SPs are equal)
11) Dishonest Dealer (Short Weight)
- If he gives w instead of 1 unit and charges price of 1 unit:
Profit % = ( (1/w) − 1 ) × 100 - Example: w = 0.9 kg (900 g for 1 kg) ⇒ profit % = (1/0.9 − 1) × 100
12) Adulteration (Mixing Water / Cheaper Item)
- If x% water mixed and sold at CP of pure item: profit % = x/(100 − x) × 100
- General mixture average cost: C̄ = (Total cost) ÷ (Total quantity)
13) Weighted Profit/Loss (Selling Parts at Different %)
- If fractions are f₁, f₂,… with profit rates r₁%, r₂% (loss as negative):
Overall profit % = f₁r₁ + f₂r₂ + … - Where: f₁ + f₂ + … = 1
14) Tax Added on Discounted Price
- Final billed price: SPbill = SP × (1 + t/100)
- If tax is collected from customer: seller’s realized amount may be SP (before tax), unless stated otherwise
15) Commission / Platform Fee on Selling Price
- Fee amount: Fee = SP × (c/100)
- Net received by seller: SPnet = SP × (1 − c/100)
- If target net profit is N% on CP:
SP × (1 − c/100) = CP × (1 + N/100) - So: SP = [CP × (1 + N/100)] ÷ (1 − c/100)
16) Rotten/Damaged Items (Effective Quantity Sold)
- Total cost: CPtotal = (Buying rate per unit) × (Units bought)
- Total selling: SPtotal = (Selling rate per unit) × (Units actually sold)
- Profit/Loss %: = ((SPtotal − CPtotal) ÷ CPtotal) × 100
17) Alligation (Mixing Two Costs)
- If costs are C₁ and C₂ to get mean cost C: ratio = (C₂ − C) : (C − C₁)
60 Profit and Loss Aptitude Questions and Answers
Profit & Loss Aptitude Test: Core Concepts (20 MCQ Questions)
Question 1. A shopkeeper buys an article for ₹800 and sells it for ₹920. What is the profit percentage?
a) 12%
b) 13%
c) 14%
d) 15%
Answer:
d) 15%
Question 2. An article is sold for ₹540 at a loss of 10%. What is its cost price?
a) ₹580
b) ₹600
c) ₹620
d) ₹650
Answer:
b) ₹600
Question 3. An article is sold for ₹720 at a profit of 20%. What is its cost price?
a) ₹560
b) ₹580
c) ₹600
d) ₹640
Answer:
c) ₹600
Question 4. A trader marks an item at ₹1500 and allows a discount of 10%. Find the selling price.
a) ₹1320
b) ₹1350
c) ₹1400
d) ₹1450
Answer:
b) ₹1350
Question 5. A man sells an article for ₹980 and gains 12.5%. What is the cost price?
a) ₹850
b) ₹860
c) ₹870
d) ₹900
Answer:
a) ₹870
Question 6. If the cost price is ₹1250 and the profit is 8%, what is the selling price?
a) ₹1320
b) ₹1340
c) ₹1350
d) ₹1360
Answer:
d) ₹1350
Question 7. An article is sold for ₹684 at a loss of 5%. What is its cost price?
a) ₹700
b) ₹720
c) ₹760
d) ₹780
Answer:
a) ₹720
Question 8. A shopkeeper sells an item for ₹1150 at a profit of 15%. What is the cost price?
a) ₹950
b) ₹1000
c) ₹1050
d) ₹1100
Answer:
b) ₹1000
Question 9. A trader buys an article for ₹360 and sells it for ₹324. What is the loss percentage?
a) 8%
b) 9%
c) 10%
d) 12%
Answer:
c) 10%
Question 10. An item is sold for ₹1050 at a profit of 25%. What is the cost price?
a) ₹800
b) ₹820
c) ₹840
d) ₹900
Answer:
a) ₹840
Question 11. A shopkeeper buys an item for ₹2400 and wants a profit of 18%. What should be the selling price?
a) ₹2800
b) ₹2832
c) ₹2860
d) ₹2880
Answer:
b) ₹2832
Question 12. An article is sold for ₹912 and the profit is 14%. What is the cost price?
a) ₹780
b) ₹800
c) ₹820
d) ₹840
Answer:
b) ₹800
Question 13. A man sells an article for ₹750 and incurs a loss of 6.25%. What is the cost price?
a) ₹780
b) ₹790
c) ₹800
d) ₹820
Answer:
c) ₹800
Question 14. If the selling price is ₹1330 and the profit is 5%, what is the cost price?
a) ₹1250
b) ₹1260
c) ₹1270
d) ₹1280
Answer:
a) ₹1266.67
Question 15. A trader marks an article at ₹2000 and sells it at ₹1700. What is the discount percentage?
a) 10%
b) 12%
c) 15%
d) 18%
Answer:
c) 15%
Question 16. An article is sold at a profit of 30% for ₹2600. What is the cost price?
a) ₹1800
b) ₹1900
c) ₹2000
d) ₹2100
Answer:
c) ₹2000
Question 17. A man buys an article for ₹1500 and sells it for ₹1380. Find the loss percentage.
a) 6%
b) 7%
c) 8%
d) 9%
Answer:
c) 8%
Question 18. A shopkeeper gains 20% by selling an article for ₹960. What is the cost price?
a) ₹760
b) ₹780
c) ₹800
d) ₹820
Answer:
c) ₹800
Question 19. If an article is sold for ₹1260 at a loss of 10%, what is the cost price?
a) ₹1350
b) ₹1400
c) ₹1450
d) ₹1500
Answer:
b) ₹1400
Question 20. An article is sold for ₹1875 at a profit of 25%. What is the cost price?
a) ₹1400
b) ₹1450
c) ₹1500
d) ₹1600
Answer:
c) ₹1500
Profit & Loss Aptitude Test: Mixed Conditions & Multi-Step (20 MCQ Questions)
Question 1. An article is marked at ₹2400. A discount of 15% is given and the seller still makes a profit of 20%. What is the cost price?
a) ₹1400
b) ₹1450
c) ₹1500
d) ₹1600
Answer:
c) ₹1500
Question 2. A shopkeeper marks an item 30% above cost price and gives a discount of 10%. What is the profit percentage?
a) 15%
b) 16%
c) 17%
d) 18%
Answer:
b) 17%
Question 3. Two successive discounts of 20% and 10% are given on a marked price of ₹2000. What is the selling price?
a) ₹1400
b) ₹1440
c) ₹1500
d) ₹1600
Answer:
b) ₹1440
Question 4. A trader sells an article at 12% profit. If he had sold it for ₹120 more, his profit would have been 20%. Find the cost price.
a) ₹1200
b) ₹1350
c) ₹1500
d) ₹1600
Answer:
c) ₹1500
Question 5. A dishonest dealer uses a 900 g weight instead of 1 kg and sells at cost price (per quoted kg). What is his profit percentage?
a) 9.09%
b) 10%
c) 11.11%
d) 12.5%
Answer:
c) 11.11%
Question 6. An article is sold at a loss of 10%. If the selling price is increased by ₹72, there will be a profit of 5%. Find the cost price.
a) ₹420
b) ₹450
c) ₹480
d) ₹500
Answer:
b) ₹480
Question 7. A shopkeeper gives a discount of 20% on the marked price and still gains 20%. If the marked price is ₹1800, what is the cost price?
a) ₹1000
b) ₹1100
c) ₹1200
d) ₹1250
Answer:
c) ₹1200
Question 8. A trader marks an article 25% above cost price and allows a discount of 8%. What is the profit percentage (approx)?
a) 12%
b) 13%
c) 15%
d) 16%
Answer:
b) 15%
Question 9. The cost price of 2 articles is in the ratio 3:4. They are sold at the same selling price and the profits are 20% and 10% respectively. Find the ratio of their selling prices to their cost prices (overall).
a) 11:10
b) 12:11
c) 13:12
d) 14:13
Answer:
a) 11:10
Question 10. An item is marked at ₹1600. A discount of 5% is given. If the profit is 14%, find the cost price.
a) ₹1250
b) ₹1280
c) ₹1340
d) ₹1400
Answer:
c) ₹1340
Question 11. A shopkeeper sells 2 items at ₹720 each. On one item he gains 20% and on the other he loses 20%. What is his overall profit/loss?
a) No profit no loss
b) Profit 4%
c) Loss 4%
d) Loss 5%
Answer:
c) Loss 4%
Question 12. An article is marked 40% above cost price. A discount of 15% is given. Find the profit percentage (approx).
a) 12%
b) 15%
c) 19%
d) 25%
Answer:
c) 19%
Question 13. A trader sells an article for ₹1188 at a profit of 10%. If he had given a discount of 10% on the same selling price (as MP), what would be the marked price?
a) ₹1200
b) ₹1300
c) ₹1320
d) ₹1400
Answer:
c) ₹1320
Question 14. A man buys an article and sells it at 15% profit. If the cost price was ₹80 less and selling price ₹40 less, the profit would be 20%. Find the original cost price.
a) ₹480
b) ₹520
c) ₹560
d) ₹600
Answer:
c) ₹560
Question 15. Two successive discounts of 10% and 20% are equivalent to a single discount of:
a) 25%
b) 26%
c) 28%
d) 30%
Answer:
b) 28%
Question 16. A trader marks an item at ₹2500. He gives a discount of 12% and still makes a profit of 10%. Find the cost price.
a) ₹2000
b) ₹2045.45
c) ₹2100
d) ₹2200
Answer:
b) ₹2045.45
Question 17. A dishonest dealer mixes 20% water in milk and sells the mixture at cost price of pure milk. What is his profit percentage?
a) 20%
b) 22%
c) 25%
d) 30%
Answer:
c) 25%
Question 18. An article is sold for ₹900 after giving a discount of 10% on marked price. If the cost price is ₹750, what is the profit percentage?
a) 15%
b) 18%
c) 20%
d) 25%
Answer:
c) 20%
Question 19. A trader marks an article 50% above cost price. What discount should he offer to gain 20%?
a) 15%
b) 18%
c) 20%
d) 25%
Answer:
c) 20%
Question 20. A shopkeeper sells an article at 25% profit. If he increases the selling price by ₹100, profit becomes 35%. Find the cost price.
a) ₹900
b) ₹950
c) ₹1000
d) ₹1100
Answer:
c) ₹1000
Profit & Loss Aptitude Test: Advanced Business Logic Problems (20 MCQ Questions)
Question 1. A trader sells 40% of an item at 25% profit and the remaining 60% at 10% loss. What is his overall profit/loss percentage?
a) Profit 2%
b) Profit 4%
c) Loss 1%
d) Loss 2%
Answer:
a) Profit 2%
Question 2. An item is sold for ₹1728 after allowing a discount of 10% on marked price. If the profit is 20%, what is the marked price?
a) ₹1800
b) ₹1920
c) ₹2000
d) ₹2160
Answer:
d) ₹2000
Question 3. A trader sells an article at 20% profit. If the cost price were 10% less and selling price were 10% more, what would be the new profit percentage?
a) 40%
b) 45%
c) 46.67%
d) 50%
Answer:
c) 46.67%
Question 4. A shopkeeper gives 2 successive discounts of 10% and 15% on a marked price. If the cost price is 80% of marked price, what is the profit/loss percentage?
a) Profit 2%
b) Loss 2%
c) Profit 4.5%
d) Loss 4.5%
Answer:
d) Loss 4.5%
Question 5. A trader buys 2 items at the same cost price. He sells one at 30% profit and the other at 30% loss. If the selling price of both items are equal, what is the ratio of their cost prices?
a) 7:13
b) 9:11
c) 11:9
d) 13:7
Answer:
a) 7:13
Question 6. A trader sells an item at a profit of 12%. If both cost price and selling price are increased by ₹60, the profit becomes 10%. Find the original cost price.
a) ₹2400
b) ₹2700
c) ₹3000
d) ₹3300
Answer:
c) ₹3000
Question 7. A person sells an article for ₹945 and makes a profit of 8%. If he wants a profit of 15%, what should be the new selling price?
a) ₹1000
b) ₹1005
c) ₹1015
d) ₹1020
Answer:
b) ₹1005
Question 8. A trader includes a commission of 5% (on selling price) as an expense. If he wants a net profit of 14% on cost price and the cost price is ₹2000, what should be the selling price?
a) ₹2380
b) ₹2400
c) ₹2450
d) ₹2500
Answer:
b) ₹2400
Question 9. A shopkeeper sells an item for ₹1350 after offering a discount of 10% on marked price. If he gains 12.5%, find the marked price.
a) ₹1400
b) ₹1500
c) ₹1600
d) ₹1700
Answer:
c) ₹1600
Question 10. A trader sells an item at 20% profit. If he sells it for ₹96 more, his profit becomes 32%. Find the cost price.
a) ₹600
b) ₹720
c) ₹800
d) ₹900
Answer:
c) ₹800
Question 11. A trader marks an item 60% above cost price and offers a discount of 25%. What is the profit percentage?
a) 10%
b) 12%
c) 15%
d) 20%
Answer:
c) 20%
Question 12. A man buys an article for ₹1200. He spends ₹60 on repairs and sells it for ₹1452. What is the profit percentage?
a) 14%
b) 16%
c) 18%
d) 20%
Answer:
b) 16%
Question 13. A shopkeeper sells an article at 10% profit. If the cost price increases by 5% but he keeps the selling price same, what is the new profit percentage (approx)?
a) 3.5%
b) 4.8%
c) 5.2%
d) 6.7%
Answer:
b) 4.8%
Question 14. An item is sold at 15% loss. If its selling price is increased by ₹150, it would be sold at 5% profit. Find the cost price.
a) ₹900
b) ₹1000
c) ₹1200
d) ₹1500
Answer:
b) ₹1000
Question 15. A trader buys apples at ₹120 per dozen. He sells them at ₹12 each but 2 apples in every dozen are rotten and cannot be sold. What is his profit/loss percentage?
a) Profit 20%
b) No profit no loss
c) Loss 10%
d) Profit 25%
Answer:
b) No profit no loss
Question 16. A trader sells an item at 25% profit. If he allows a discount of 10% on marked price, the selling price becomes equal to cost price. What is the marked price in terms of cost price?
a) 10/9 of CP
b) 5/4 of CP
c) 25/18 of CP
d) 9/10 of CP
Answer:
c) 25/18 of CP
Question 17. A shopkeeper sells 3 items for ₹1000 each. He gains 10% on the first, loses 10% on the second, and gains 20% on the third. What is the overall profit/loss percentage?
a) Profit 6%
b) Profit 5%
c) Profit 4%
d) Loss 2%
Answer:
c) Profit 4%
Question 18. A trader mixes two types of rice costing ₹50/kg and ₹70/kg in the ratio 3:2 and sells the mixture at ₹66/kg. What is the profit percentage?
a) 8%
b) 10%
c) 12%
d) 15%
Answer:
b) 10%
Question 19. An item is marked at ₹3000. A shopkeeper gives a discount of 20% and then charges 5% sales tax on the discounted price. If his cost price is ₹2100, what is his profit percentage (approx)?
a) 18%
b) 20%
c) 22%
d) 24%
Answer:
c) 22%
Question 20. A trader wants a net profit of 25% after paying a platform fee of 2% on selling price. If the cost price is ₹4000, what should be the selling price?
a) ₹5000
b) ₹5100
c) ₹5150
d) ₹5200
Answer:
b) ₹5100
