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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-2

Each section contains 100 MCQs on Profit and Loss .
91
Prateek sold a music system to Karthik at 20% gain and karthik sold it to Swastik at 40% gain. If Swastik paid Rs. 10500 for the music system, What amount did Prateek pay for the same ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the price paid by Prateek be Rs. x.
Then,
$$\eqalign{ & 140\% {\text{ of }}120\% {\text{ of }}x = 10500 \cr & \Rightarrow \frac{{140}}{{100}} \times \frac{{120}}{{100}} \times x = 10500 \cr & \Rightarrow x = \left( {10500 \times \frac{{25}}{{42}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = 6250 \cr} $$
92
A bought a radio set and spent Rs. 110 on its repairs. He then sold it to B at 20% profit, B sold it to C at a loss of 10% and C sold it for Rs. 1188 at a profit of 10% . What is the amount for which A bought the radio set ?
Discuss
Answer & Solution
Answer: Option B
Solution:
110% of 90% of 120% of A = 1188
$$\eqalign{ & \Rightarrow \frac{{110}}{{100}} \times \frac{{90}}{{100}} \times \frac{{120}}{{100}}{\text{A}} = 1188 \cr & \Rightarrow \frac{{1188}}{{1000}}{\text{A}} = 1188 \cr & \Rightarrow {\text{A}} = 1000 \cr} $$
∴ A purchased it for Rs. (1000 - 110) = Rs. 890
93
A retailer purchased radiosets at the rate of Rs. 400 each from a wholesaler. He raised the price by 30% and then allowed a discount of 8% on each set. His profit will be = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Initial CP = 400
After marking 30% up, marked price = 520
He allowed a discount of 8%, discount = 41.6
Selling price = 520 - 41.6 = 478.4
$$\eqalign{ & \% {\text{profit}} = \frac{{\left( {478.4 - 400} \right)}}{{400}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{78.4 \times 100}}{{400}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{7840}}{{400}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 19.6\% \cr} $$
94
An article which is marked at Rs. 975 is sold for Rs. 897. The % discount is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Given, Mark price = Rs. 975
Selling price = 897
Discount = Marked price - Selling price
Discount = 975 - 897 = 78
$$\eqalign{ & {\text{Then discount}}\% \cr & = \frac{{{\text{Discount}}}}{{{\text{Mark Price}}}} \times 100 \cr & = \frac{{78}}{{975}} \times 100 \cr & = 8\% \cr} $$
95
The difference between successive discounts of 40% followed by 30% and 45% followed by 20% on the marked price of an article is Rs. 12. The marked price of the article is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
According to first condition total discount
$$\eqalign{ & = a + b - \frac{{ab}}{{100}} \cr & = 40 + 30 - \frac{{40 \times 30}}{{100}} \cr & {\text{ = 70}} - {\text{12}} \cr & = 58{\text{ }} \cr} $$
In first condition total discount = 58%
In second condition total discount
$$ = 45\% + 20\% - \frac{{45 \times 20}}{{100}}$$
Total discount = 56%
According to the question,
58% - 56% = Rs. 12
2% = 12
1% = 6
100% = 600
∴ Marked price will be Rs. 600
96
A car worth Rs. 150000 was sold by x to y at 5% profit. y sold the car back to x at 2% loss. In the entire transaction = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Money spent by x = Rs. 150000
Money received by x = 105% of Rs. 150000 = Rs. 157500
C.P. to x = 98% of Rs. 157500 = Rs. 154350
∴ x gains Rs. (157500 - 154350) = Rs. 3150
97
An article passing through two hands is sold at a profit of 38% at the original cost price. If the first dealer makes a profit of 20% , then the profit percent made by the second is -
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the original cost of the article be Rs. P and the profit percent made by the second be x% .
Then,
120% of (100 + x)% of P = 138% of P
$$\eqalign{ & \Rightarrow \frac{{120}}{{100}} \times \frac{{\left( {100 + x} \right)}}{{100}} = \frac{{138}}{{100}} \cr & \Rightarrow \frac{{100 + x}}{{100}} = \frac{{23}}{{20}} \cr & \Rightarrow 100 + x = 115 \cr & \Rightarrow x = 15 \cr} $$
98
A dealer buys an article listed at Rs. 100 and gets successive discount of 10% and 20% . He spends 10% of the cost price on transportation. At what price should he sell the article to earn a profit of 15% ?
Discuss
Answer & Solution
Answer: Option D
Solution:
A dealer buys an article listed at Rs 100 and gets successive discounts of 10% and 20%.
Cost After 10% discount = 100 – 10% of 100
= 100 - 10 = 90
Cost After 20% discount = (90 – 20% of 90
= 90 - 18 = 72
He spends 10% of the cost price on transportation.
∴ Total cost = 72 + 10% of 72
= 72 + 7.2
= 79.2
He wants to make a profit of 15%
∴ SP = 79.2 + 15% of 79.2
= 79.2 + $$\frac{{15}}{{100}}$$ × 79.2
= 79.2 + 11.88
= Rs. 91.08
99
Allowing 20% and 15% successive discounts, the selling price of an article becomes Rs. 3060: then the marked price will be = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{Total discount }}\% \cr & {\text{ = }}\left( {20 + 15 - \frac{{20 \times 15}}{{100}}} \right)\% \cr & = 35 - 3 \cr & = 32\% \cr & = \frac{{32 \to {\text{Discount}}}}{{100 \to {\text{MRP}}}} \cr} $$
MRP → Discount → Selling Price
100 → 32 → 68
68 units → 3060
1 units → 45
⇒ then MRP = 100 units
= 45 × 100 = Rs. 4500
100
List price of a book is Rs. 100. A dealer sells three such books for Rs. 274.50 after allowing discount at a certain rate, find the rate of discount = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Given,
= MRP of book = Rs. 100
= Selling price of 3 books = Rs. 274.50
= Selling price of 1 book = Rs. 91.50
Discount on each book
= 100 - 91.50 = Rs. 8.50
Therefore discount %
$$\eqalign{ & = \frac{{8.50}}{{100}} \times 100\,\% \cr & = 8.50\,\% \cr} $$