Practice Questions on Profit Loss for Quantitative Techniques of CLAT

Practice Questions on Profit Loss for Quantitative Techniques of CLAT

  • If Trikuta Sales and Services marked an AC at Rs. 50000 and sold it at a 10% discount​​ whereas​​ Shastri Sales and Services marked it at Rs. X and sold it at the same Price as Trikuta but at 20% discount, find the marked Price by Shastri Sales and Services?

  • If a shopkeepers mixes 20 L of Oil A bought at Rs. 600 per litre with 50 L of Oil B bought at Rs. 100 per Litre and sells the mixture at Rs. 300 per litre, calculate the profit or loss percentage.

  • Rahul bought a scooter for Rs. 40000 and sold it to Sonu at Rs. 45000. The very next day, Sonu sold that scooter to Rashi at Rs.60000. Find the difference between percentage profit Rahul got and percentage profit Rahul would have got if he would have sold it directly to Rashi.

  • On a limited edition watch marked at Rs. 180000, Myntra offers 20% discount and Jabong offers 35% discount. Calculate the difference in selling Price.

  • 84 bananas are bought for Rs. 240 and 36 bananas are sold for Rs. 180. Find the profit/ loss incurred​​ on 9​​ dozen bananas.

  • A gave Rs. 8000 to B and 6000 to C to invest. If B incurred a loss of 10% and C gained a profit of 15%,​​ calculate the overall profit/ loss.

  • A dress was bought at Rs. 7000 and then it accessories were bought for Rs. 3000. If the entire combo is sold at Rs. 8500, calculate the loss percentage.

  • Arushi bought a camera for Rs. 19000. Calculate the​​ cost​​ price​​ for the​​ shopkeeper​​ if​​ the shopkeeper sold it at a profit of 25%.

  • If the caterers charge one plate @ Rs. 1500​​ which is 50% more than the cost incurred, calculate the profit earned on 500 plates.

DO IT YOURSELF

Shop A marks a product at Rs. 500 and Shop B marks the same product at Rs.​​ 800. If shop B is offering a discount of 40% and both the sops sell it at the same price, calculate the discount offered by shop A.

 

ANSWERS WITH EXPLANATIONS

  • Selling price at Trikuta Sales = 50000 – (10/100)*50000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs.​​ 45000

Selling Price at Shastri Sales = X – (20/100)*X

45000 = X – (X/5)

45000 = 4X/5

X = (45000* 5)/4

 ​​ ​​ ​​​​ = Rs. 56250

 

  • Cost Price of the mixture = (20*600)+ (50*100)

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = ​​ 12000 + ​​ 5000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 17000

Selling Price = 300*70 = Rs. 21000

Profit percentage = [(21000- 17000)/17000] * 100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = ( 4000/ 17000)*100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ ​​ = 23.5%

 

  • Profit earned by Rahul = [(45000- 40000)/40000] *100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = (5000/ 40000)*100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 12.5%

Profit Rahul could hve earned = [ (60000- 40000)/ 40000] *100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 50%

Required Difference = 50 – 12.5% = 37.5 %

 

  • Selling Price at Myntra = 180000- (20/100)*180000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 180000- 36000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 144000

Selling Price at Jabong = 180000- (35/100)*180000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​  ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 180000 – 63000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 117000

Required Difference = 144000 – 117000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 27000

 

  • 84 bananas = 84/12 = 7 dozen

Cost Price of one dozen bananas = 240/ 7 = Rs.​​ 34.2 = Rs. 34 (approx.)

36 banans = 36/12 = 3 dozen

Selling Price of one dozen banamas = 180/ 3 = Rs. 60

Profit on one dozen banana = (60- 34) = Rs. 26

Profit on nine dozen banana = 26* 9 = Rs. 234

 

  • Money left with B = 8000 – (10/100)*8000​​ 

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 8000 – 800

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 7200

Money left with C = 6000 + (15/100)*6000

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 6000+ 900

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 6900

​​ Profit ​​ percentage =​​ [(14100- 14000)/14000] * 100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 0.71%

 

  • Cost price of Combo = 7000+ 3000 = Rs. 10000

Loss percentage = (1500/10000)* 100

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = 15%

 

  • Let the cost Price be X.

19000 = x + (25/100)*x

19000 = x + x/4

19000 = 5x/4

X = (19000*4)/5 = Rs. 15200

 

  • Let the cost incurred be Rs. X

1500 = x + (50/100)*x

​​ 1500 = x + x/2

1500 = 3x/2

x = (1500*2)/3

 ​​ ​​ ​​​​ = 1000

Profit earned on one plate = 1500 – 1000 = Rs. 500

Therefore, profit earned on 500 ​​ plates = 500 * 500

 ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​  ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ = Rs. 250000

 

Read the theory on Simple and Compound Interest here.

Read our other posts on Quantitative Techniques Question Pattern and Test Papers.

Click here to learn about Quantitative Techniques Question Pattern from official CLAT website.

LEAVE A REPLY

Please enter your comment!
Please enter your name here