Welcome to Part 1 of the Profit and Loss Questions with Answers series. This practice set includes Questions 1–10, carefully designed for IBPS PO, SBI PO, RBI Assistant, LIC AAO, SSC CGL, RRB, and other competitive exams.

Each question is original and follows the latest banking exam pattern. Along with every question, you will find a step-by-step solution, a shortcut method, and a banking exam tip to help you solve similar questions quickly and accurately in the exam.

The questions in this part cover important Profit and Loss concepts such as cost price (CP), selling price (SP), profit percentage, loss percentage, effective cost price, additional expenses, damaged goods, marked price, discount, and reverse calculations. The difficulty level is moderate, making this practice set ideal for strengthening your fundamentals and improving your calculation speed.

Practice every question carefully, understand the concepts behind each solution, and try the shortcut methods to increase your efficiency. After completing this set, continue with the next parts of the series to master the entire Profit and Loss topic and build strong Quantitative Aptitude skills for competitive exams.

Profit & Loss Questions (Premium Edition)

Part 1 (Questions 1–10)

Question 1

Question:

A shopkeeper purchased a mixer grinder for ₹2,400 and spent ₹120 on transportation. He sold it for ₹2,898. Find the profit percentage.

Given

• Purchase Price = ₹2,400
• Transportation Charges = ₹120
• Selling Price = ₹2,898

Formula

Effective Cost Price = Purchase Price + Additional Expenses

Profit = SP − Effective CP

Profit % = (Profit ÷ Effective CP) × 100

Solution

Effective Cost Price

= ₹2,400 + ₹120

= ₹2,520

Profit

= ₹2,898 − ₹2,520

= ₹378

Profit %

= (378 ÷ 2,520) × 100

= 0.15 × 100

= 15%

Final Answer

15% Profit

⭐ Shortcut Method

Observe that:

15% of ₹2,520

= ₹378

Therefore,

Profit = 15%

💡 Banking Exam Tip

Always include transportation, repair, packing, labour, and installation charges in the Cost Price before calculating profit or loss.

Question 2

Question:

A trader bought 60 school bags at ₹450 each. During transportation, 5 bags were damaged completely and could not be sold. If the remaining bags were sold at ₹540 each, find the overall profit or loss percentage.

Given

• Number of bags purchased = 60
• Cost Price per bag = ₹450
• Damaged bags = 5
• Bags sold = 55
• Selling Price per bag = ₹540

Formula

Total Cost Price = Number Purchased × CP per Bag

Total Selling Price = Number Sold × SP per Bag

Profit/Loss = Total SP − Total CP

Profit/Loss % = (Profit/Loss ÷ Total CP) × 100

Solution

Total Cost Price

= 60 × ₹450

= ₹27,000

Total Selling Price

= 55 × ₹540

= ₹29,700

Profit

= ₹29,700 − ₹27,000

= ₹2,700

Profit %

= (2,700 ÷ 27,000) × 100

= 0.10 × 100

= 10%

Final Answer

10% Profit

⭐ Shortcut Method

Total CP = ₹27,000

Profit = ₹2,700

Since ₹2,700 is 10% of ₹27,000,

Profit = 10%

💡 Banking Exam Tip

Even if some items are damaged, their purchase cost is still included in the total cost price. Only the selling amount changes.

Question 3

Question

A shopkeeper purchased 80 calculators at ₹375 each. He spent ₹2,000 on transportation. He sold all the calculators at ₹425 each. Find the overall profit percentage.

Given

• Number of calculators = 80
• Cost Price per calculator = ₹375
• Transportation charges = ₹2,000
• Selling Price per calculator = ₹425

Formula

Effective Cost Price = Total Purchase Cost + Additional Expenses

Profit = Total SP − Effective CP

Profit % = (Profit ÷ Effective CP) × 100

Solution

Purchase Cost

= 80 × ₹375

= ₹30,000

Effective Cost Price

= ₹30,000 + ₹2,000

= ₹32,000

Total Selling Price

= 80 × ₹425

= ₹34,000

Profit

= ₹34,000 − ₹32,000

= ₹2,000

Profit %

= (₹2,000 ÷ ₹32,000) × 100

= 6.25%

Final Answer

6.25% Profit

⭐ Shortcut Method

Profit = ₹2,000

Since

₹32,000 ÷ 16 = ₹2,000

Profit % = (1/16) × 100

= 6.25%

💡 Banking Exam Tip

Remember these common fractions:

• 1/8 = 12.5%
• 1/10 = 10%
• 1/16 = 6.25%

These save valuable time in exams.

Question 4

Question

A merchant bought a microwave oven for ₹12,000 and spent ₹800 on installation and transportation. If he sold it for ₹14,080, find the profit percentage.

Given

• Purchase Price = ₹12,000
• Additional Expenses = ₹800
• Selling Price = ₹14,080

Formula

Effective CP = Purchase Price + Expenses

Profit = SP − Effective CP

Profit % = (Profit ÷ Effective CP) × 100

Solution

Effective Cost Price

= ₹12,000 + ₹800

= ₹12,800

Profit

= ₹14,080 − ₹12,800

= ₹1,280

Profit %

= (₹1,280 ÷ ₹12,800) × 100

= 10%

Final Answer

10% Profit

⭐ Shortcut Method

₹1,280 is exactly 10% of ₹12,800.

Hence,

Profit = 10%

💡 Banking Exam Tip

Whenever additional expenses are mentioned, calculate the effective cost price first before applying any profit/loss formula.

Question 5

Question

A trader purchased 150 notebooks at ₹48 each. Due to moisture, 10 notebooks became unusable. He sold the remaining notebooks at ₹56 each. Find the overall profit percentage.

Given

• Number purchased = 150
• Cost Price per notebook = ₹48
• Damaged notebooks = 10
• Sold notebooks = 140
• Selling Price per notebook = ₹56

Formula

Total CP = Quantity Purchased × CP per Unit

Total SP = Quantity Sold × SP per Unit

Profit = SP − CP

Profit % = (Profit ÷ CP) × 100

Solution

Total Cost Price

= 150 × ₹48

= ₹7,200

Total Selling Price

= 140 × ₹56

= ₹7,840

Profit

= ₹7,840 − ₹7,200

= ₹640

Profit %

= (₹640 ÷ ₹7,200) × 100

= 8.89% (approx.)

Final Answer

8.89% Profit (approx.)

⭐ Shortcut Method

Profit = ₹640

CP = ₹7,200$$\frac{640}{7200}=\frac{8}{90}=\frac{4}{45}\approx 8.89\%$$7200640​=908​=454​≈8.89%

💡 Banking Exam Tip

If the percentage is not a simple value, reduce the fraction first before converting it into a percentage.

See Also:

100 Profit and Loss Question with answers

Question 6

Question

An article was sold for ₹6,900 at a profit of 15%. Find its cost price.

Given

• Selling Price = ₹6,900
• Profit = 15%

Formula

$$CP=\frac{SP\times100}{100+\text{Profit\%}}$$CP=100+Profit%SP×100​

Solution

$$CP=\frac{6900\times100}{115}$$CP=1156900×100​$$=\frac{690000}{115}$$=115690000​

= ₹6,000

Final Answer

₹6,000

⭐ Shortcut Method

115% = ₹6,900

Therefore,

100%$$=6900\times\frac{100}{115} =₹6,000$$=6900×115100​=₹6,000

Question 7

Question

A shopkeeper marked an article at ₹4,000. He allowed a 10% discount and still earned a 20% profit. Find the cost price of the article.

Given

• Marked Price (MP) = ₹4,000
• Discount = 10%
• Profit = 20%

Formula

$$SP = MP \times \frac{100-\text{Discount\%}}{100}$$SP=MP×100100−Discount%​$$CP = \frac{SP \times 100}{100+\text{Profit\%}}$$CP=100+Profit%SP×100​

Solution

Selling Price$$= 4000 \times \frac{90}{100}$$=4000×10090​

= ₹3,600

Cost Price$$= \frac{3600 \times 100}{120}$$=1203600×100​

= ₹3,000

Final Answer

₹3,000

⭐ Shortcut Method

10% discount ⇒ SP = ₹3,600

20% profit means

120% = ₹3,600

100%

= ₹3,000

💡 Banking Exam Tip

Always calculate the selling price after discount first, then work backwards to find the cost price.

Question 8

Question

A trader purchased 50 ceiling fans at ₹1,600 each. He spent ₹5,000 on transportation. He sold 40 fans at ₹2,000 each and the remaining 10 fans at ₹1,700 each. Find the overall profit percentage.

Given

• Number of fans = 50
• Cost Price per fan = ₹1,600
• Transportation Charges = ₹5,000
• SP of first 40 fans = ₹2,000 each
• SP of remaining 10 fans = ₹1,700 each

Formula

Effective CP = Purchase Cost + Additional Expenses

Profit = Total SP − Effective CP

Profit % = (Profit ÷ Effective CP) × 100

Solution

Purchase Cost

= 50 × ₹1,600

= ₹80,000

Effective Cost Price

= ₹80,000 + ₹5,000

= ₹85,000

Selling Price

= (40 × ₹2,000) + (10 × ₹1,700)

= ₹80,000 + ₹17,000

= ₹97,000

Profit

= ₹97,000 − ₹85,000

= ₹12,000

Profit %$$= \frac{12000}{85000}\times100$$=8500012000​×100

= 14.12% (approx.)

Final Answer

14.12% Profit (approx.)

⭐ Shortcut Method

Net Profit = ₹12,000

Effective CP = ₹85,000$$\frac{12000}{85000}=\frac{24}{170}\approx14.12\%$$8500012000​=17024​≈14.12%

💡 Banking Exam Tip

When goods are sold at different prices, find the total selling price first instead of calculating profit separately for each item.

Question 9

Question

A dealer sold an article for ₹8,640 after allowing a 10% discount on the marked price. If he earned a 20% profit, find the marked price.

Given

• Selling Price = ₹8,640
• Discount = 10%
• Profit = 20%

Formula

$$CP=\frac{SP\times100}{120}$$CP=120SP×100​$$MP=\frac{SP\times100}{90}$$MP=90SP×100​

Solution

Marked Price$$=\frac{8640\times100}{90}$$=908640×100​

= ₹9,600

Final Answer

₹9,600

⭐ Shortcut Method

After a 10% discount,

90% = ₹8,640

100%$$=8640\times\frac{100}{90}$$=8640×90100​

= ₹9,600

💡 Banking Exam Tip

If only the marked price is required, ignore the profit information. Profit is extra information here and does not affect the calculation of the marked price from the selling price and discount.

Question 10

Question

A wholesaler purchased 300 water bottles at ₹90 each. During transportation, 20 bottles broke. He sold the remaining bottles at ₹110 each. Find the overall profit percentage.

Given

• Total bottles purchased = 300
• Cost Price per bottle = ₹90
• Broken bottles = 20
• Bottles sold = 280
• Selling Price per bottle = ₹110

Formula

Total Cost Price = Quantity Purchased × CP per Unit

Total Selling Price = Quantity Sold × SP per Unit

Profit = Total SP − Total CP

Profit % = (Profit ÷ Total CP) × 100

Solution

Total Cost Price

= 300 × ₹90

= ₹27,000

Total Selling Price

= 280 × ₹110

= ₹30,800

Profit

= ₹30,800 − ₹27,000

= ₹3,800

Profit %$$=\frac{3800}{27000}\times100$$=270003800​×100

= 14.07% (approx.)

Final Answer

14.07% Profit (approx.)

⭐ Shortcut Method

Net Profit = ₹3,800$$\frac{3800}{27000}=\frac{38}{270}\approx14.07\%$$270003800​=27038​≈14.07%

💡 Banking Exam Tip

Even if some items are damaged or lost, their purchase cost remains part of the total cost price. Never reduce the cost price because of damaged goods.