Aptitude Questions on Profit, Loss & Partnership
Review Profit Loss Concepts before you get started
Q. 1 Jaithalal decides to mark his electronic goods 50% above the cost price to make good profit. To further entice customers, he offers a discount of 20% on the marked price. What is the profit percentage jaithalal ultimately earns from his sales?
A) 20%
B) 25%
C) 30%
D) 35%
Check Solution
Ans: A) 20%
Let the cost price (CP) be ₹100.
Marked price (MP) = 100 + 50% of 100 = ₹150.
Selling price (SP) = MP – 20% of MP = 150 – 30 = ₹120.
Profit % = [(SP – CP) / CP] × 100 = [(120 – 100) / 100] × 100 = 20%.
Q. 2 A shopkeeper prides himself on offering the best deals. He purchases a batch of 40 pens for ₹50 and later sets a price where he sells 30 pens for ₹50. While doing this, he wonders: what is the percentage of profit he’s actually making on each pen?
A) 25%
B) 50%
C) 66.67%
D) 75%
Check Solution
Ans: B) 50%
Cost price (CP) of 1 pen = 50 / 40 = ₹1.25.
Selling price (SP) of 1 pen = 50 / 30 = ₹1.6667.
Profit % = [(SP – CP) / CP] × 100 = [(1.6667 – 1.25) / 1.25] × 100 = 33.33%.
Q. 3 Two friends, A and B, partner up to start a business. A invests ₹50,000, and B contributes ₹40,000. After a few months, B notices he’s entitled to a profit share of ₹6,000. Curious about how their business is doing, they ask their accountant: what is the total profit generated by their venture?
A) ₹15,000
B) ₹14,000
C) ₹13,500
D) ₹12,000
Check Solution
Ans: C) ₹13,500
The profit ratio of A and B = 50,000 : 40,000 = 5 : 4.
Let total profit be P. Then, B’s share = 4/(5+4) × P = 4/9 × P.
Given, 4/9 × P = 6,000.
P = 6,000 × 9 / 4 = ₹13,500.
Q. 4 A merchant known for his clever pricing strategy mixes two types of sugar: one costing ₹24 per kg and the other ₹30 per kg. He blends them in the ratio of 1:2 and sets a selling price that gives him a 20% profit. Can you determine the selling price of his mixture per kg?
A) ₹31.20/kg
B) ₹30.40/kg
C) ₹29.50/kg
D) ₹32.80/kg
Check Solution
Ans: D) ₹33.60/kg
Cost price of the mixture = (1 × 24 + 2 × 30) / 3 = (24 + 60) / 3 = ₹28/kg.
Selling price for 20% gain = 28 + 20% of 28 = ₹33.60/kg.
Q. 5 A neighbourhood shopkeeper purchases 20 kg of rice at ₹50 per kg and another 30 kg at ₹60 per kg. After mixing the two, he decides to sell the entire lot at ₹65 per kg. How much profit or loss percentage does he earn on this sale?
A) 12% profit
B) 15% profit
C) 16% profit
D) 18% profit
Check Solution
Ans: C) 16% profit
Total CP = (20 × 50) + (30 × 60) = 1000 + 1800 = ₹2800 for 50 kg.
SP = 50 × 65 = ₹3250.
Profit % = [(SP – CP) / CP] × 100 = [(3250 – 2800) / 2800] × 100 ≈ 16.07%.
Q. Two entrepreneurs, A and B, pool their resources to start a venture. A invests ₹40,000, while B invests ₹50,000. They agree to split profits in proportion to their investments. If their business earns a total profit of ₹13,500 in the first year, how much of this profit does B take home?
A) ₹5,400
B) ₹7,500
C) ₹6,750
D) ₹8,100
Check Solution
Ans: B) ₹7,500
Investment ratio of A and B = 40,000 : 50,000 = 4 : 5.
B’s share = 5/(4+5) × 13,500 = 5/9 × 13,500 = ₹7,500.
Q. 7 Nandalal sells two identical Sarees for ₹990 each. However, he gains 10% on one Saree and incurs a 10% loss on the other. After totaling his transactions, he wonders if he’s made an overall profit or a loss—and by what percentage?
A) No profit, no loss
B) 1% profit
C) 1% loss
D) 2% loss
Check Solution
Ans: C) 1% loss
Let the CP of item 1 be ₹x, and for item 2, it is also ₹x.
SP of item 1 = x + 10% of x = 1.1x.
SP of item 2 = x – 10% of x = 0.9x.
Net loss = (10% of 10%) = 1%.
Q. 8 Abha buys a gift item, sells it to Benny with a 20% profit, and Benny then sells it to Chandu at a 10% loss. If Chandu pays ₹216 for the item, what was the original cost price that Abha paid for it?
A) ₹180
B) ₹200
C) ₹220
D) ₹250
Check Solution
Ans: B) ₹200
Let the CP for A be ₹x.
After A sells to B at 20% profit: SP for B = 1.2x.
After B sells to C at 10% loss: SP for C = 0.9 × 1.2x = 1.08x.
1.08x = 216, so x = 216 / 1.08 = ₹200.
Q. 9 A farmer has a 40-liter mixture of milk and water, which contains 10% water. He wants to reduce the water content to just 5% by adding more milk. How much milk must he add to achieve this desired concentration?
A) 10 liters
B) 20 liters
C) 40 liters
D) 30 liters
Check Solution
Ans: C) 40 liters
Amount of water in 40 liters = 10% of 40 = 4 liters.
Let x liters of milk be added. Total solution = 40 + x.
Water content % = 4 / (40 + x) × 100 = 5%.
4 = 0.05(40 + x), x = 40 liters.
Q. 10 Three partners—Adani, Birla, and Clark—invest ₹10,000, ₹15,000, and ₹20,000 respectively in a business. Adani also takes on the role of a working partner and earns 20% of the total profit for his efforts. If the business generates ₹25,000 in profit, how much of the remaining profit does Birla receive?
A) ₹5,000
B) ₹6,000
C) ₹8,000
D) ₹7,500
Check Solution
Ans: B) ₹6,000
A’s service share = 20% of 25,000 = ₹5,000. Remaining profit = 25,000 – 5,000 = ₹20,000.
Investment ratio = 10,000 : 15,000 : 20,000 = 2 : 3 : 4.
B’s share = 3/(2+3+4) × 20,000 = 3/9 × 20,000 = ₹6,000.
Practice Questions for next topic: https://www.learntheta.com/aptitude-questions-averages-mixture-alligations/