Profit and Loss Questions for Bank PO: Learn How to Solve Profit and Loss Questions

Profit and loss is a mathematical concept that is used to establish the market price of a product and to assess how lucrative a firm is. There is a cost price and a selling price for every item. We can compute the profit or loss made for a given product depending on the values of these costs.

Cost price, selling price, fixed, variable, and semi-variable cost, marked price, list price, margin, and so on are all significant words discussed here. In bank PO exams, you will get some questions about this topic. So, let us discuss a set of Profit and Loss questions for Bank PO preparation.

Profit and Loss Questions for Bank PO Formulas

You’ve learned how to compute profit and loss, as well as their percentages, up to this point. Let’s start with the main formulae and discover some strategies or formulas for solving arithmetic questions based on gain and loss.

Profit, P = SP – CP; SP > CP

Loss, L = CP – SP; CP > SP

P% = (P / CP) x 100

L% = (L / CP) x 100

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

SP = {(100 – L%) / 100} x CP

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

CP = {100 / (100 – L%)} x SP

Discount = MP – SP

SP = MP – Discount

Also Read: Can I Give a Bank PO Interview in Hindi? Crucial Points about Bank PO Interview

Profit and Loss Questions for Bank PO (1 – 5)

Check out these Profit and Loss questions to learn how to solve them.

Question 1

A real estate agent sells two sites for Rs. 18000 each. On one he gains 25% and on the other, he loses 25 %. What is his loss or gain percent?

A. 6.25 % gain

B. 6.25% loss

C. No profit no loss

D. 4% loss

E. 4% profit

Answer: Option B

profit and loss formula

Loss % = x2/100 = 625/100 = 6.25%

Question 2

If a retailer marks up his price by 30 % and then allows a 30 % discount, what is his percentage profit or loss?

1. 9 % gain
2. 8 % gain
3. 8% loss
4. 9 % loss
5. 5% loss

Answer: Option 4

Net loss = x2/100% = 900/100 = 9%

Question 3

By selling an article for Rs 600 more, Karthik would have made 5% profit on his sale instead of a 11% loss. What was his cost price?

1. Rs. 3750
2. Rs. 4000
3. Rs. 2250
4. Rs. 6,000
5. Rs. 4750

Answer: Option 1

CP = (Difference in SP) ÷ (% Difference in profit) = 600/(5-(-11)) × 100 = (600/16)×100 = Rs3750

Question 4

I make a profit of 20% by selling an article. What would be the profit percent if it were calculated on the selling price instead of the cost price?

1. 10 %
2. 20%
3. 30%
4. 16.67%
5. 12.5%

Answer: Option 4

Let CP = 100 then SP = 120. Profit % if it was calculated on SP will be

⇒ 20/120 × = 16.67%

Question 5

A tradesman marks his goods 25% above the cost price and allows his customers 12 % reduction on their bills. What percent profit does he make?

1. 14 %
2. 10%
3. 18%
4. 12.5%
5. 12%

Answer: Option 2

Let CP= Rs. 100, therefore, MP= Rs. 125, Discount% = 12%

SP = 88% of MP = 88% of 125 = Rs. 110. Profit = 110 – 100 = Rs. 10

Profit = 10%.

Profit and Loss Questions for Bank PO (6-10)

Question 6

In order to maintain the price line, a trader allows a discount of 12 % on the marked price of goods in his ship. However, he still makes a gross profit of 32 % on the cost price. Find the profit percent he would have made on the selling price had he sold at the marked price.

A. 28.07 %

B. 50 %

C. 31.21 %

D. 23 %

E. 40%

Answer: Option B

Let CP = 100. SP = 132. This is after a discount of 12%, thus the marked price must be 132/0.88 = 150. Thus he is marking the product 50% above the cost price. Hence the profit will be 50%.

Question 7

An orange vendor makes a profit of 10% by selling oranges at a certain price. If he charges Rs. 1.4 higher per orange he would gain 30%. Find the original price at which he sold an orange.

1. Rs. 6
2. Rs. 5.80
3. Rs. 6.25
4. Rs. 6.70
5. Rs 7.70

Answer: Option 5

Rs. 1.4 is the increase in absolute, 20% is the increase in percentage. Thus those two can be equated. Hence it can be concluded that 1.4 is 20% of the price i.e. the CP of one orange is 1.4/0.20 = Rs. 7. The SP per orange in the first case is 7 × 1.1 = Rs. 7.70. Hence option is 5.

Question 8

A man bought a horse for a certain sum and sold it, at a loss of 8 % on his outlay. If he had received Rs. 1800 more, he would have gained 14½ % on his outlay. What did the horse cost?

1. Rs. 3,500
2. Rs. 5,000
3. Rs. 6,000
4. Rs. 8,000
5. Rs. 6500

Answer: Option 4

CP = (Difference in SP) ÷ (% Difference in profit) CP of the horse = 1800×100/14.5-(-8) = 1800×100/22.5 ⇒ CP = 8000.

Question 9

Divya made a profit of 25% when selling a Salwar Kameez at Rs. 4,000. Find the cost price of the same dress.

1. Rs. 4,800
2. Rs. 3,650
3. Rs. 3,200
4. Rs. 3,000
5. Rs. 2,700

Answer: Option 3

Old CP = 4000 × (100/125) = 3200

Question 10

What profit percent is made by selling an article at a certain price if by selling at four-fifth of that price there may be a loss of 12 %?

1. 10 %
2. 25 %
3. 42 %
4. 20 %
5. 35%

Answer: Option 1.

Such question can be better answered by thinking in the reverse order. Let the CP = 100, there is a loss of 12% in the final case i.e. SP = 100 – 12 = Rs 88. Now this Rs. 88 is the four-fifth of the selling price as per the question. The original selling price will be 88 × 5/4 = Rs. 110. CP =100. There is a profit of Rs. 10, which is nothing but 10%, as the CP is taken to be Rs. 100

Also Read: SBI PO Last Date to Apply 2021: Latest Information on the Probationary Officer Job Exam

Bank PO Preparation Tips for Quantitative Aptitude

Learn the Basic Formulas

Quantitative topics for the Bank PO exam are dense with equations and brief techniques. Try to memorise every formula in the quant section with examples, since these formulas can be used as quick techniques. Questions based on equations and rapid tricks can be answered quickly and precisely, and they are crucial to a good grade.

You may also create your own short stunts, which you will undoubtedly master with repeated practise. Short techniques can save you a lot of time since they allow you to tackle difficult issues quickly.

Practice Well

The best way to succeed in life is to practise, and practising in this part can help you become a pro at mathematical aptitude. Only having a thorough understanding of this part will not enable you to get good results; you must engage in rigorous and consistent practice in order to achieve good results.

Practising more Bank PO quant questions will increase your confidence and motivation for this part. You can learn a variety of different ways to answer a question, and your speed at answering questions will improve.

You must make certain that you devote enough time to practising Quant for Bank examinations.

Attempt Mock/ Model Tests

Try as many questions from previous year papers as you can, and take as many  Mock Tests as you can. This will provide you a better understanding of the test format, the level of difficulty of the various subjects in the section, and a feel for taking the actual exam. Take the fake exam seriously and try to complete it once inside the time limit.

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Conclusion

Lately, quant for Bank exams has become a race against time, with success determined on how many questions you can answer correctly in the shortest amount of time. Because this part has a combination of simple, moderate, and challenging level questions, start with the easier ones to save time for the more difficult problems. Because this portion is entirely reliant on calculations, it is a truth that solving quantitative problems takes longer. This is why applicants in this section failed to meet the sectional cut-off.

Check out UPSC Pathshala’s Mission Bank PO to get better in your preparations.

Also Read: IBPS PO Last Date to Apply 2021: Check Out the Eligibility, Process, Fee and More