ExamVeda
Login
Home

Profit And Loss - Aptitude MCQ Questions and Solutions with Explanations

Profit And Loss MCQ Questions and answers with easy and logical explanations.Arithmetic Ability provides you all type of quantitative and competitive aptitude mcq questions on Profit And Loss with easy and logical explanations. Profit And Loss MCQ is important for exams like Banking exams,IBPS,SCC,CAT,XAT,MAT etc. Page-10 section-1

Each section contains 100 MCQs on Profit and Loss .
91
Raghuvir purchased 10 calculators and 16 watches for Rs. 56100 and sold them so as to earn an overall profit of 20%. At what total price should he sell 15 calculators and 24 watches together so as to earn the same percentage profit?
Discuss
Answer & Solution
Answer: Option A
Solution:
Calculators = 10
Watches = 16
Total Item = 10 + 16 = 26
Total Cost price = Rs. 56,100
Average price of Each item. $$\frac{{56100}}{{26}}$$  = Rs. 2157.69
Second Time total item = 15 + 24 = 39
So, Total cost price of 39 items = 2157.69 × 39 = 84,150
thus, the selling price of 39 items with 20% profit,
= 84,150 + 20% of 84,150
= Rs. 84,150 + 16,830
= Rs. 100,980
92
Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:
Discuss
Answer & Solution
Answer: Option B
Solution:
Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500
Selling Price (S.P.) = Rs. 5800
Gain = (S.P.) - (C.P.) = Rs. (5800 - 5500) = Rs. 300
$$\eqalign{ & {\text{Gain}}\,\% \cr & = \left( {\frac{{300}}{{5500}} \times 100} \right)\% \cr & = 5\frac{5}{{11}}\% \cr} $$
93
The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:
Discuss
Answer & Solution
Answer: Option B
Solution:
Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x
S.P. of x articles = Rs. 20
Profit = Rs. (20 - x)
$$\eqalign{ & \therefore {\frac{{20 - x}}{x} \times 100 = 25} \cr & \Rightarrow 2000 - 100x = 25x \cr & 125x = 2000 \cr & \Rightarrow x = 16 \cr} $$
94
If selling price is doubled, the profit triples. Find the profit percent.
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Let}}\,{\text{C}}{\text{.P}}{\text{.}}\,{\text{be}}\,{\text{Rs}}{\text{.}}\,x\,{\text{and}}\,{\text{S}}{\text{.P}}{\text{.}}\,{\text{be}}\,{\text{Rs}}.\,y \cr & {\text{Then}},\,3\left( {y - x} \right) = \left( {2y - x} \right) \cr & \Rightarrow y = 2x \cr & {\text{Profit}} = Rs.\,\left( {y - x} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,\left( {2x - x} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,x \cr & \therefore {\text{Profit}}\,\% \cr & = \left( {\frac{x}{x} \times 100} \right)\% \cr & = 100\% \cr} $$
95
In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?
Discuss
Answer & Solution
Answer: Option B
Solution:
Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420
New C.P. = 125% of Rs. 100 = Rs. 125
New S.P. = Rs. 420
Profit = Rs. (420 - 125) = Rs. 295
∴ Required percentage
$$\eqalign{ & = \left( {\frac{{295}}{{420}} \times 100} \right)\% \cr & = \frac{{1475}}{{21}}\% \cr & = 70\% \,\left( {{\text{approximately}}} \right) \cr} $$
96
A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{C}}{\text{.P}}{\text{.}}\,{\text{of}}\,{\text{6}}\,{\text{toffees}}\,{\text{ = }}\,Rs.\,1 \cr & {\text{S}}{\text{.P}}{\text{.}}\,{\text{of}}\,{\text{6}}\,{\text{toffees}} \cr & = 120\% \,{\text{of}}\,Rs.\,1 = Rs.\,\frac{6}{5} \cr & {\text{For}}\,Rs.\,\frac{6}{5},{\text{toffees}}\,{\text{sold}} = 6. \cr & {\text{For}}\,Rs.\,1,{\text{toffees}}\,{\text{sold}} = {6 \times \frac{5}{6}} = 5 \cr} $$
97
The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{Let}}\,{\text{C}}{\text{.P}}{\text{.}}\,{\text{be}}\,Rs.\,x \cr & {\text{Then}},\,\frac{{1920 - x}}{x} \times 100 = \frac{{x - 1280}}{x} \times 100 \cr & \Rightarrow 1920 - x = x - 1280 \cr & \Rightarrow 2x = 3200 \cr & \Rightarrow x = 1600 \cr & \therefore {\text{Required}}\,{\text{S}}{\text{.P}}{\text{.}}\, = 125\% \,{\text{of}}\,Rs.\,1600 \cr & = Rs.\,\left( {\frac{{125}}{{100}} \times 1600} \right) = Rs.\,2000 \cr} $$
98
A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{C}}{\text{.P}}{\text{.}}\, = \,Rs.\,\left( {\frac{{100}}{{122.5}} \times 392} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = \,Rs.\,\left( {\frac{{1000}}{{1225}} \times 392} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,320 \cr & \therefore {\text{Profit}} = Rs.\,\left( {392 - 320} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,72 \cr} $$
99
A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{S}}{\text{.P}}{\text{.}} = 85\% \,{\text{of}}\,Rs.\,1400 \cr & = Rs.\,\left( {\frac{{85}}{{100}} \times 1400} \right) \cr & = Rs.\,1190 \cr} $$
100
Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{Cost}}\,{\text{Price}}\,{\text{of}}\,{\text{1}}\,{\text{toy}} \cr & = Rs.\,\left( {\frac{{375}}{{12}}} \right) = Rs.\,31.25 \cr & {\text{Selling}}\,{\text{Price}}\,{\text{of}}\,{\text{1}}\,{\text{toy}}\, = \,Rs.\,33 \cr & {\text{So,}}\,{\text{Gain}}\, = \,Rs.\,\left( {33 - 31.25} \right) = Rs.\,1.75 \cr & \therefore {\text{Profit}}\,\% = \left( {\frac{{1.75}}{{31.25}} \times 100} \right)\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{28}}{5}\% = 5.6\% \, \cr} $$