Here are 10 important Profit & Loss questions with solutions, relevant for Coal India exams and competitive exams:

Here are 10 important Profit & Loss questions with solutions, relevant for Coal India exams and competitive exams:

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1. Profit & Loss Percentage

Q: A coal mining machine was bought for ₹50,000 and sold for ₹60,000. What is the profit percentage?

Solution:

\text{Profit} = \text{Selling Price} - \text{Cost Price} = 60,000 - 50,000 = 10,000

\text{Profit %} = \left(\frac{\text{Profit}}{\text{Cost Price}}\right) \times 100 ]

= \left(\frac{10,000}{50,000}\right) \times 100 = 20\%

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2. Finding Cost Price

Q: A legal contract document was sold at ₹4,800 with a 20% profit. What was its cost price?

Solution:

Let the Cost Price (C.P.) be ₹x. Since Profit % = 20%,

\text{Selling Price} = \text{C.P.} + 20\% \text{of C.P.}

4,800 = x + \frac{20}{100}x ]

4,800 = \frac{120}{100}x

x = \frac{4,800 \times 100}{120} = 4,000 ] So, Cost Price is ₹4,000.

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3. Finding Selling Price

Q: A coal extraction tool was bought for ₹3,000 and sold at a 25% profit. What is the selling price?

Solution:

\text{Selling Price} = \text{C.P.} + 25\% \text{of C.P.}

= 3,000 + \left(\frac{25}{100} \times 3,000\right) ]

= 3,000 + 750 = 3,750

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4. Loss Calculation

Q: A truck used for coal transport was bought for ₹5,00,000 but sold at a loss of ₹80,000. What was the loss percentage?

Solution:

\text{Loss %} = \left(\frac{\text{Loss}}{\text{C.P.}}\right) \times 100

= \left(\frac{80,000}{5,00,000}\right) \times 100 ]

= 16\%

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5. Successive Profit Calculation

Q: A machine was first sold at a 10% profit and then the buyer sold it at a 20% profit. What is the total profit percentage?

Solution:

\text{Total Profit %} = a + b + \frac{a \times b}{100}

= 10 + 20 + \frac{10 \times 20}{100} ]

= 30 + 2 = 32\%

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6. Discount & Selling Price

Q: A coal supplier gives a 15% discount on a bill of ₹10,000. What is the selling price after discount?

Solution:

\text{Discount} = \frac{15}{100} \times 10,000 = 1,500

\text{Selling Price} = 10,000 - 1,500 = 8,500 ] So, Selling Price is ₹8,500.

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7. Profit when C.P. & S.P. Ratio is Given

Q: The ratio of Cost Price to Selling Price of a mining drill is 4:5. Find the profit percentage.

Solution:

Let C.P. = 4x and S.P. = 5x.

\text{Profit} = S.P. - C.P. = 5x - 4x = x

\text{Profit %} = \left(\frac{x}{4x}\right) \times 100 = 25% ] So, Profit Percentage is 25%.

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8. Finding Selling Price with Loss

Q: A power generator was bought for ₹12,000 and sold at a 10% loss. What is the selling price?

Solution:

\text{Loss} = 10\% \text{ of } 12,000 = \frac{10}{100} \times 12,000 = 1,200

\text{Selling Price} = 12,000 - 1,200 = 10,800 ] So, Selling Price is ₹10,800.

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9. Marked Price Calculation

Q: A coal supplier wants to earn a 25% profit after giving a 10% discount. What should be the Marked Price (M.P.) if the cost price is ₹500?

Solution:

Let M.P. = x. After a 10% discount, the Selling Price (S.P.) should be:

S.P. = 500 + 25\% \text{ of } 500 = 500 + 125 = 625

625 = \frac{90}{100} \times x

x = \frac{625 \times 100}{90} = 694.44 ] So, Marked Price should be ₹694.44.

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10. Profit when Marked Price & Discount are Given

Q: A coal mining tool is marked at ₹2,000. A 15% discount is given, but the seller still makes a 10% profit. Find the Cost Price.

Solution:

\text{S.P.} = 2,000 - \frac{15}{100} \times 2,000

= 2,000 - 300 = 1,700 ] Since S.P. = C.P. + 10% Profit,

1,700 = C.P. + \frac{10}{100} \times C.P.

1,700 = \frac{110}{100} \times C.P. ]

C.P. = \frac{1,700 \times 100}{110} = 1,545.45

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These Profit & Loss questions will help you prepare for the Coal India exam. Let me know if you need more!