GRE / GMAT : Sample Questions with Solution

     Profit & Loss:

1. If CP = $ 56.25 and Gain = 20%    What is SP ?

            a) 65.70 b) 67.50  c)76.70   d) 56.50

     Sol:  SP = 120 % of  $ 56.25

                   = 120* 56.25 / 100

                   = 67.50

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2.  If CP = $ 80 and Loss = 5% what is SP?

          a) 76  b) 67 c) 77 d)68

      Sol :  SP = 95% of $80

                     = 95 * 80 /100

                     = 76

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3. A person incurs 5% loss by selling an article  for $ 1140 .At what price should the article be sold to   

       earn 5% profit ?

           a) 1200 b) 1260  c) 1270  d) 1400

       Sol : Let the new SP be x. Then

                (100 – Loss % ) : (1^st SP ) =  (100 + Gain % ) : (2^nd SP )

ð    (100-5)/1140 = (100+5)/x

ð  x = 105 * 1140 /95 = 1260

                    So New SP = $1260.

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4.  A book was sold for $ 27.50 with a profit of 10% .If it were sold for $ 25.75 then what have been

         the percentage of profit  or loss ?

                         a)1 %  b)2%   c) 3%  d )5%

             Sol :  SP =  $ 27.50 profit = 10 %

                       So CP = 100* 27.50/110 = 25

                       When  SP  = $25.75 profit = 25.75 – 25 = 0.75

                      Profit % =( 0.75 * 100 /25 ) %   =   3%

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5.  If the cost price is 96% of the selling price then what is the profit percentage ?

                a) 4% b)  3.17 %  c)4.27  %   d) 4.17%

               Sol :  Let  SP = $100 Then CP = 96  Profit = $4

               Profit % = (4 %100)/96 = 25/6 % = 4.17 %

                 For Live Training  Contact Me at resmysarath@gmail.com or call 1-647-213-2378