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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-2 section-1

Each section contains 100 MCQs on Profit and Loss .
11
A tradesman marks his goods at 25% above the cost price and allows purchasers a discount of $$\frac{{25}}{2}$$%, his profit is:
Discuss
Answer & Solution
Answer: Option D
Solution:

Let his CP = Rs. 100.
Marked Price = 100 + 25% of 100 = 125.
Now, discount = $$\frac{{25}}{2}$$% on MP
So, SP = 125 - $$\frac{{25}}{2}$$% of 125 = Rs. 109.375.
%Gain = 9.375%.

Alternatively use graphic change method:
100(CP) == 25% Up ⇒ 125(MP) == 12.5%down ⇒ 109.375
%Profit = 9.375%

12
A bicycle marked at Rs. 2,000, is sold with two successive discount of 20% and 10%.An additional discount of 5% is offered for cash payment. The selling price of the bicycle at cash payment is:
Discuss
Answer & Solution
Answer: Option A
Solution:
Marked Price = 2000
SP after first Discount of 20% = 2000 - 20% of 2000 = 1600
SP after second Discount of 10% = 1600 - 10% of 1600 = 1440
Now, the final selling price at cash = 1440 - 5% of 1440 = Rs. 1368

Shortcut by using Graphic Change
2000(MP) == 20%(disc.) ⇒ 1600 == 10%(disc.) ⇒ 1440 == 5%(disc.) ⇒ 1368(SP)
13
The marked price of a shirt and trousers are in the ratio 1:2. The shopkeeper gives 40% discount on the shirt. If the total discount in the set of the shirt and trousers is 30%, the discount offered on the trousers is:
Discuss
Answer & Solution
Answer: Option C
Solution:
Let the price of shirt and trouser be Rs. 100 and Rs. 200 respectively.
Then, price of set of shirt and trouser = Rs. 300.
After giving 30% discount on the set,
Selling Price = 300 - 30% of 300 = 210.
Total Discount on Set = 90.
And Discount on shirt is 20% alone,
SP of shirt alone = 100 - 40% of 100 = 60.
Rs. 40 is the discount on shirt then Rs. 50 must be the discount on the trouser.
So, discount on trouser = $$\frac{{50 \times 100}}{{200}}$$  = 25%.
14
A dealer buys an article marked at Rs. 25,000 with 20% and 5% off. He spends Rs. 1,000 for its repairs and sells it for Rs. 25,000. What is his gain or loss per cent?
Discuss
Answer & Solution
Answer: Option B
Solution:
Marked Price = 25000.
After first discount it become,
= 25000 - 20% of 25000 = 20000.
After second discount, it becomes
= 20000 - 5% of 20000 = 19000.
So, SP = 19000.
CP for the man who bought it, as he spends 1000 on repair.
= 19000 + 1000 = 20000
Profit = 25000 - 20000 = 5000.
%Profit = $$\frac{{5000 \times 100}}{{20000}}$$  = 25%

Short-Cut
25000(MP) == 20%(Disc.) ⇒ 20000 == 5%(disc.) ⇒19000(CP)
Spends on repair = Rs. 1000
Then, CP becomes = 19000 + 1000 = 20000
Profit = 5000
% profit = $$\frac{{5000 \times 100}}{{20000}}$$  = 25%
15
A trader sells his goods at a discount 20%. He still makes a profit of 25%. If he sells the goods at the marked price only, his profit will be:
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the marked price = Rs. 100
Then, SP = 100 - 20% of 100 = Rs. 80
Profit = 25%
Let His CP = X
SP = 80
X + 25% of X = 80
Hence, X = Rs. $$\frac{{100 \times 80}}{{125}}$$  = Rs. 64
CP = Rs. 64
Profit after selling on marked price = 100 - 64 = Rs. 36
% gain = $$\frac{{36 \times 100}}{{64}}$$  = 56.25%
16
The marked price of a radio is 20% more than its cost price. If a discount of 10% is given on the marked price, the gain per cent is:
Discuss
Answer & Solution
Answer: Option D
Solution:
Let CP = 100
Then, MP = 100 + 20% of 100 = 120
Now, SP = 120 - 10% of 120 = 108
Gain = 108 - 100 = 8
%Gain = $$\frac{{8 \times 100}}{{100}}$$  = 8%

Short-cut
100(CP) == 20%(up) ⇒ 120(MP) == 10%(disc.) ⇒ 108
% gain = 8%
17
A shopkeeper sells sugar in such a way that the selling price of 950g of sugar is the same s the cost price of 1 kg of sugar. What is his gain percent?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{Sell}}\,{\text{sugar}} \cr & = 950g\,{\text{instead}}\,{\text{of}}\,1000g \cr & {\text{Profit}}\,{\text{in}}\,{\text{sugar}} \cr & = 1000 - 950 = 50g \cr & {\text{Now}},\,\% \,{\text{profit}} \cr & = \frac{{ {50 \times 100} }}{{950}} = 5 {\frac{5}{{19}}} \% \cr & \cr & {\text{Short - cut}}: \cr & \% \,{\text{profit}} \cr & = {\frac{{{\text{Goods}}\,{\text{lef}}t}}{{{\text{Goods}}\,{\text{sold}}}}} \times 100 \cr & = {\frac{{50}}{{950}}} \times 100 \cr & = 5 {\frac{5}{{19}}} \% \cr} $$
18
After allowing a discount of 11.11%, a trader still makes a gain of 14.28%. At how many percent above the cost price does he mark on his goods?
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the CP be Rs. 100, then SP = 100 + 14.28% of 100 = Rs. 114.28
(As Profit = 14.28%)
This profit is arrived after giving discount of 11.11% on the marked price.
Let the marked price be x
X - 11.11% of X = 114.28
X × $$\frac{{100 - 11.11}}{{100}}$$  = 114.28
X = $$\frac{{114.28 \times 100}}{{8889}}$$   = Rs. 128.56, which is more than 28.56% of CP.
19
A dealer buys dry fruits at Rs. 100, Rs. 80, and Rs. 60 per kilogram. He mixes them in the ratio 3:4:5 by weight and sells at a profit of 50%. At what price per kilogram does he sell the dry fruits?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the dealer buys 3 kg, 4 kg and 5 kg.
Price of total dry fruits = 3 × 100 + 4 × 80 + 5 × 60 = Rs. 920
SP = 920 + 50% of 920 = 1380
Hence,
Price of mix dry fruits per kg = $$\frac{{1380}}{{12}}$$ = Rs. 115
20
The cost price of an article is 80% of its marked price for sale. How much per cent does the tradesman gain after allowing a discount of 12%?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let the marked price = Rs. 100
Then the cost price = 80% of 100 = Rs. 80
After allowing 12% discount on MP,
SP become = Rs. 88.
% profit = $$\frac{{8 \times 100}}{{80}}$$  = 10%