Profit and Loss Aptitude Questions & Formulas with answer

Ques 1 GATE 2024 SET-2

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A person sold two different items at the same price. He made 10% profit in one item, and 10% loss in the other item. In selling these two items, the person made a total of

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Ques 2 GATE 2021

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Details of prices of two items P and Q are presented in the above table. The ratio of cost of item P to cost of item Q is 3:4. Discount is calculated as the difference between the marked price and the selling price. The profit percentage is calculated as the ratio of the difference between selling price and cost, to the cost (Profit % = (Selling price - Cost) / Cost × 100). What is the discount on item Q, as a percentage of its marked price?

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Ques 3 GATE 2020

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The revenue and expenditure of four different companies P, Q, R and S in 2015 are shown in the figure. If the revenue of company Q in 2015 was 20% more than that in 2014, and company Q had earned a profit of 10% on expenditure in 2014, then its expenditure (in million rupees) in 2014 was ________.

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Ques 4 Gate 2014 Set-1

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Round-trip tickets to a tourist destination are eligible for a discount of 10% on the total fare. In addition, groups of 4 or more get a discount of 5% on the total fare. If the one way single person fare is Rs 100, a group of 5 tourists purchasing round-trip tickets will be charged Rs _________.

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Ques 5 GATE 2013

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A firm is selling its product at Rs. 60 per unit. The total cost of production is Rs. 100 and firm is earning total profit of Rs. 500. Later, the total cost increased by 30%. By what percentage the price should be increased to maintained the same profit level?

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