 Dear Mockbankers

Today in Banker’s Bounty, you will get Profit & Loss concept and previous year questions.

Step 1: Watch the video prepared by MockBank’s expert.

Step 2: Read the concepts that follow.

Step 3: Put a timer before you solve the previous year questions on decimal and fraction in quiz and record how much time it takes you to solve it.

Step 4: Send us questions in comments section below which took maximum time and we will tell you a faster way to solve it.

Cost Price-The price at which an article is purchased is known as cost price (C.P.)

Selling Price-The price at which the article is sold is known as selling price (S.P.)

These questions deals with Selling Price(P), And Cost price(CP). When selling price is greater than cost price then profit And when cost price is greater than selling price then loss.
Profit = SP-CP (SP>CP)
Loss = CP-SP (CP>SP)

Profit and loss questions are very easy to solve. Following formulae should be kept in mind while solving profit loss questions in bank exams.

Profit % = (Profit x 100)/CP

CP= {100 /(100+profit%)} x SP

CP={100/(100-loss%)} x SP

If there is a Profit of x% and loss of y % in a transaction, then the resultant profit or loss% is given by

[x – y – (x × y/100)]

Note- For profit use sign + in previous formula and for loss use – sign.

if resultant is positive then overall its profit. However, if it is negative then overall we have a loss.

If a cost price of m articles is equal to the selling Price of n articles,

(C.P of m article = S.P. of n article) then Profit percentage

(m – n)/n×100%

If m parts are sold at x% profit , n parts are sold at y % profit and p parts are sold at z% profit Rs. ‘R’ are earned as overall profit then the value of total consignment

R ×100 / (mx +ny +pz)

A man purchases a certain no. of article at m  rupee and the same no. at n a rupee. He mixes them together and sells them at p a rupee then his gain or loss

[{2mn/(m+n)p} -1]× 100

Marked price = Cost price + Markup

Always Remember: Markup is extra price on Cost Price. So, Markup is always calculated on CP

And

%Markup = [Markup/CP]*100

Discount (if SP < MP) = MP – SP i.e. SP = MP – Discount

Always Remember: Discount is deducted from Marked Price. So, Discount is always calculated on MP and

%Discount = [Discount/MP]*100

1. A boy purchases 20 pens for Rs. 15 and sells 15 pens for Rs. 20. How much profit does he get ?

Question 1 of 10

2. A man purchase 26 kg. of rice for Rs. 2,470/- He then sold 10 kg of rice at the rate of Rs. 110/- per kg and remaining rice at some rate to make a profit of Rs. 70/-. At what rate per kg he sold the remaining rice?

Question 2 of 10

3. A person buys a book for Rs.85 and sells it for Rs.98.60. Find his profit per cent

Question 3 of 10

4. A merchant mixes two types of tea, one costing Rs.150 per kg and other Rs.175 per kg in the ratio 2:3 If he sells the mixture for Rs.170 per kg find his per cent profit

Question 4 of 10

5. In a sale, perfumes are available at a discount of 25% on the selling price. If a perfume costs Rs. 5,895 in the sale, what is the selling price of the perfume?

Question 5 of 10

6. A man buys two cows for Rs.5000 each. One is sold at a profit of 10% and the other he sold at a loss of 5%. Find his profit or loss per cent in the whole transaction

Question 6 of 10

7. A man sells two articles for Rs.2400 each. He gained 20% on the first and lost 20% on the second. Find his overall profit or loss per cent in the transaction

Question 7 of 10

8. A man buys two articles for Rs.1800 each. He gained 10% on the first and lost 10% on the second. Find his overall profit or loss percent in the transaction

Question 8 of 10

9. If the cost price of 12 articles be equal to the selling price of 10 articles then , find the profit% in the transaction.

Question 9 of 10

10. If the cost price of 15 articles be equal to the selling price of 20 articles, then find the loss% in the transaction.

Question 10 of 10