JK Bank Profit And Loss Problems With Answer-Monk Test 2020

#1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

4 4/7%

5 5/11%

10%

12%

Answer: Option B

Explanation:

Cost Price (C.P.) = Rs. (4700 800) = Rs. 5500.

Selling Price (S.P.) = Rs. 5800.

Gain = (S.P.) – (C.P.) = Rs.(5800 – 5500) = Rs. 300.

Gain % =		300	x 100	%	= 5	5	%
		5500				11

#2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

15

16

18

25

Answer: Option B

Explanation:

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.

S.P. of x articles = Rs. 20.

Profit = Rs. (20 – x).

		20 – x	x 100 = 25
		x

2000 – 100x = 25x

125x = 2000

x = 16.

#3. If selling price is doubled, the profit triples. Find the profit percent.

66 2/3

100

105 1/3

120

Answer: Option B

Explanation:

Let C.P. be Rs. x and S.P. be Rs. y.

Then, 3(y – x) = (2y – x) y = 2x.

Profit = Rs. (y – x) = Rs. (2x – x) = Rs. x.

Profit % =		x	x 100	% = 100%
		x

#4. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

30%

70%

100%

250%

Answer: Option B

Explanation:

Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.

New C.P. = 125% of Rs. 100 = Rs. 125

New S.P. = Rs. 420.

Profit = Rs. (420 – 125) = Rs. 295.

Required percentage =		295	x 100	%	=	1475	% = 70% (approximately).
		420				21

#5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

3

4

5

6

Answer: Option C

Explanation:

C.P. of 6 toffees = Re. 1

S.P. of 6 toffees = 120% of Re. 1 = Rs.	6
	5

For Rs.	6	, toffees sold = 6.
	5

For Re. 1, toffees sold =		6 x	5		= 5.
			6

#6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

Rs. 2000

Rs. 2200

Rs. 2400

Data inadequate

Answer: Option A

Explanation:

Let C.P. be Rs. x.

Then,	1920 – x	x 100 =	x – 1280	x 100
	x		x

1920 – x = x – 1280

2x = 3200

x = 1600

Required S.P. = 125% of Rs. 1600 = Rs.		125	x 1600		= Rs 2000.
		100

#7. A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

Rs. 18.20

Rs. 70

Rs. 72

Rs. 88.25

Answer: Option C

Explanation:

C.P. = Rs.		100	x 392		= Rs.		1000	x 392		= Rs. 320
		122.5					1225

Profit = Rs. (392 – 320) = Rs. 72.

#8. A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?

Rs. 1090

Rs. 1160

Rs. 1190

Rs. 1202

Answer: Option C

Explanation:

S.P. = 85% of Rs. 1400 = Rs.		85	x 1400		= Rs. 1190
		100

#9. Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?

3.5

4.5

5.6

6.5

Answer: Option C

Explanation:

Cost Price of 1 toy = Rs.		375		= Rs. 31.25
		12

Selling Price of 1 toy = Rs. 33

So, Gain = Rs. (33 – 31.25) = Rs. 1.75

Profit % =		1.75	x 100	%	=	28	% = 5.6%
		31.25				5

#10. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:

30%

33 1/3%

35%

44%

Answer: Option D

Explanation:

Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.

C.P. of 30 articles = Rs.		5	x 30		= Rs. 25.
		6

S.P. of 30 articles = Rs.		6	x 30		= Rs. 36.
		5

Gain % =		11	x 100	% = 44%.
		25

#11. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

Rs. 45

Rs. 50

Rs. 55

Rs. 60

Answer: Option D

Explanation:

(C.P. of 17 balls) – (S.P. of 17 balls) = (C.P. of 5 balls)

C.P. of 12 balls = S.P. of 17 balls = Rs.720.

C.P. of 1 ball = Rs.

720

= Rs. 60.

#12. When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?

Rs. 21,000

Rs. 22,500

Rs. 25,300

Rs. 25,800

Answer: Option C

Explanation:

85 : 18700 = 115 : x

x =		18700 x 115		= 25300.
		85

Hence, S.P. = Rs. 25,300.

#13. 100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is:

14 2/7% gain

15% gain

14 2/7% loss

15 % loss

Answer: Option A

Explanation:

C.P. of 1 orange = Rs.		350		= Rs. 3.50
		100

S.P. of 1 orange = Rs.		48		= Rs. 4
		12

Gain% =		0.50	x 100	%	=	100	% = 14	2	%
		3.50				7		7

#14. A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is

5 15/17% loss

5 15/17% gain

6 2/3% gain

None of these

Answer: Option B

Explanation:

C.P. of 1^st transistor = Rs.		100	x 840		= Rs. 700.
		120

C.P. of 2^nd transistor = Rs.		100	x 960		= Rs. 1000
		96

So, total C.P. = Rs. (700 1000) = Rs. 1700.

Total S.P. = Rs. (840 960) = Rs. 1800.

#15. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:

No profit, no loss

5%

8%

10%

None of these

Answer: Option B

Explanation:

C.P. of 56 kg rice = Rs. (26 x 20 30 x 36) = Rs. (520 1080) = Rs. 1600.

S.P. of 56 kg rice = Rs. (56 x 30) = Rs. 1680.

Gain =		80	x 100	% = 5%.
		1600

JK Bank Profit and Loss Problems with answer-Monk Test 2020

Results

#1. Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

#2. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

#3. If selling price is doubled, the profit triples. Find the profit percent.

#4. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

#5. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

#6. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

#7. A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

#8. A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?

#9. Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?

#10. Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:

#11. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

#12. When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?

#13. 100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is:

#14. A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is

#15. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:

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