HomeQuantitative TechniquesPractice Questions on Profit and Loss for CLAT 2022

# Practice Questions on Profit and Loss for CLAT 2022

Questions for Practice on Profit and Loss for CLAT 2022 Quantitative Techniques.

Questions for Practice on Profit and Loss for Quantitative Techniques

• Aarush​​ buys a Bluetooth speaker for Rs. 6500 and sells it at a loss of 15%. Calculate the selling price of the Bluetooth speaker?

• If a shopkeeper bought a commodity for Rs. 500, at what price should he sell​​ it as to make a profit of 35%?

• If​​ Suresh buys​​ a truck for Rs. 50000 and spends 20000 on its repair and sells it for Rs.​​ Rs. 53900. Find out the loss percent.

• If by selling 50 pencils for Rs. 60, a man loses 25%.​​ At what price these 50 pencils should be sold to gain 20% profit?

• If ​​ pens were bought at the rate of 3​​ pens​​ for Rs. 4 and then sold at the rate of ​​ 4​​ pens​​ at Rs. 3, calculate the profit or loss percentage

• Rahul mixes 25 kgs of sugar at Rs. 30 per kg with 45 kg of sugar at Rs 40 per kg and sells the​​ mixture​​ at Rs. 35 per kg. Find the loss percentage.

• If the​​ marked price​​ of a shirt at shop A is Rs. 4000​​ and the​​ discount offered on it by A is 20 %.​​ On shop B, the same shirt is available at the discount of 35%. If the selling price of the shirt is same at both the shops, what is the marked​​ price at shop B.

• Khushi sells two cups at Rs. 700 each. On one she gains 20% and on the other, she loses 20%. Find the whole gain or less percent.

• If the selling price of the table lamp is Rs. 3000 and has been sold at 15%​​ discount. Find the marked price of the lamp.

DO IT​​ YOURSELF!

If Suruchi​​ is selling a phone at Rs. 55000 inclusive of 18% sales tax and the profit percent is 20%. Find the cost price of the phone.

• Cost Price of Bluetooth speaker ​​ = ​​ Rs. 6500

Loss percentage = 15%

Selling price = Cost price – loss

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =  ​​​​ 6500 – (15/100)*6500

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =  ​​​​ 6500 – 975

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = ​​ Rs. 5525

• Cost price of the commodity = Rs. 500

Desired profit percentage = 35%

Selling price = Cost Price + Profit​​

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 500 + (35/100)* 500

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =  ​​​​ 500 + 175

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 675

• Total price incurred on truck = Cost Price of the truck​​

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 50000+ 20000

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 70000

Selling Price of the truck = Rs. 53900

Loss = S.P. – C.P.

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 70000- 53900

​​ ​​ ​​ ​​ ​​ ​​​​ ​​ = Rs. 16100

Loss percentage = (16100/ 70000) *100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 23%

• Let the Cost Price of 50 pencils be x

Cost Price of 50 pencils = Selling price + loss

x = 60 + (25/100)*x

x = 60 + x/4

x-x/4 = 60

x = (60*4)/3

​​ ​​​​ = Rs. 80

Selling price to gain 20% profit = 80+ (20/100)*80

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 80 + 16

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 96

• Let the no. of articles bought be LCM of ​​ 3 and 4 = 12

Cost Price of 12 article = (4/3)*12 = Rs. 16

Selling Price of 12 article = (3/4) *12 = Rs. 9

Loss percentage = (7/16)*100 = 43.75%

• Cost Price of 70 kgs of rice = Rs. (25*30+ 45*40)

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 750+ 1800

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 2550

Selling Price of 70 kg rice = 70* 35

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ =​​ Rs. 2450

Loss percent = [(2550-2450)/ 2550] * 100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 3.9%

• Selling Price by shop A = ​​ 4000- (20/100)*4000

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 4000- 800

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 3200

Selling price by A = Selling price by shop B

Therefore,​​

3200 = Marked Price – discount

3200 = Marked price – (35/100) * marked price

Marked Price = Rs. 4923(approx.)

• Let the Cost price of the first cup on which she gains 20% ​​ be x

Selling Price of first cup = x + (20/100)* x

​​ ​​ ​​ ​​ ​​​​ 700 = x +x/5

​​ ​​ ​​ ​​ ​​ ​​​​ x = (700*5)/6

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 583 (approx.)

Let the Cost price of the first cup on which she loses 20% ​​ be y

700 = y – (20/100)*y

700 =​​ ​​ y- y/5​​

y = (700*5)/ 4

​​ ​​​​ = ​​ Rs. 875

Total Cost price of two cups = 583+ 875 = Rs. 1458

Total Selling price of two cups = 700+700 = Rs. 1400

Loss Percentage = (58/ 1458)* 100

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 3.9%

• Let the marked price of the lamp be x.

Selling Price = Marked Price – Discount

3000 = x – (15/100)*x

x = (3000*20)/ 17

​​ ​​​​ = Rs. 3529 (approx.)

​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​

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