Financial Math Problems: Solutions Explained
Snappy and Savvy Guide to Profit and Loss
Crack your competitive exams with a solid grasp of cost price (CP) and selling price (SP) formulas, and various types of profit and loss questions! Keep reading to master Quantitative Aptitude sections with some exciting problem-solving examples.
Question Time
Dive into the Quantitative Aptitude boat! Here are a few challenges that'll help you steer in the right direction:
Scenario 1: A pen vendor buys 20 pens at Rs. 10 each from a wholesaler and sells 15 of them at Rs. 10 each. What's his profit or loss percentage?
Scenario 2: A dealer incurs a 5% loss if he sells an item for Rs. 1805. What price must he sell the item to gain a 5% profit?
Scenario 3: If the cost price of an article is 67% of the selling price, what is the profit percentage?
With these practice problems, you'll be well on your way to performing exceptionally well in Quantitative Aptitude sections of competitive exams! Ready for more challenges? Check out the practice questions below!
Problem Practice Questions
- A shopkeeper bought a TV for Rs. 15,000 and sold it for Rs. 18,000. What is the profit percentage?
- If a book is sold at a 20% profit, and the selling price is Rs. 600, what was the cost price?
- A fruit vendor buys oranges at 5 for Rs. 20 and sells them at 4 for Rs. 20. Find the profit or loss percentage.
- A man buys a bicycle for Rs. 1,400 and sells it at a loss of 15%. What is the selling price?
- If the cost price of 12 items is equal to the selling price of 10 items, find the profit percent.
- A shopkeeper offers a 20% discount and still makes a 20% profit. By what percentage above the cost price does he mark his goods?
- A trader marked his goods 25% above CP and allowed a discount of 12%. Find his profit percent.
- If a person sells a watch at a profit of 10% instead of a loss of 10%, he would get Rs. 40 more. Find the cost price of the watch.
- A shopkeeper bought 100 calculators at Rs. 250 each. He sold 80 calculators at a profit of 10% and the rest at a loss of 6%. Find his overall profit or loss percentage.
- If selling price is doubled, the profit triples. Find the original profit percentage.
Good luck! The future of your competitive exam success for Quantitative Aptitude is in your hands! Next up, set sail through the Simple Interest section with some exciting examples and problems.
-Kartik
- Mastering Quantitative Aptitude sections of competitive exams can significantly improve your personal-finance skills and business acumen.
- Understanding the calculation of profit and loss percentages is crucial for effective wealth-management and investing strategies.
- Proficiency in solving profit and loss scenarios can aid in career-development and job-search opportunities that require financial analysis.
- Education and self-development in finance, business, and Quantitative Aptitude can provide you with a competitive edge in the job market and help you make informed decisions about your personal-finance and career.
- By regularly practicing profit and loss questions, you'll develop essential skills that are valuable in various aspects of your career and personal-finance management.
