Profit And Loss - Aptitude MCQ Questions and Solutions with Explanations

11

A shopkeeper purchased 70 kg of potatoes for Rs. 420 and sold the whole lot at the rate of Rs. 6.50 per kg. What will be his gain percent ?

A) $$4\frac{1}{6}$$% B) $$6\frac{1}{4}$$% C) $$8\frac{1}{3}$$% D) 20%

Discuss

Answer & Solution

Answer: Option C

Solution:

$$\eqalign{ & {\text{C}}{\text{.P}}{\text{. of 1 kg}} \cr & = {\text{Rs}}.\left( {\frac{{420}}{{70}}} \right) \cr & = {\text{Rs}}{\text{. }}6. \cr & {\text{S}}{\text{.P}}{\text{. of 1 kg}} \cr & = {\text{Rs}}{\text{. }}6.50. \cr & \therefore {\text{Gain}}\% = \left( {\frac{{0.50}}{6} \times 100} \right)\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{25}}{3}\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 8\frac{1}{3}\% \cr} $$

12

A merchant marked cloth at Rs. 50 metre. He offers 2 successive discounts of 15% and 20%. The net price/metre is = ?

A) Rs. 32.50 B) Rs. 42.50 C) Rs. 34.00 D) Rs. 40.00

Discuss

Answer & Solution

Answer: Option C

Solution:

$$\eqalign{ & 15\% = \frac{3}{{20}}\left( - \right) \cr & 20\% = \frac{1}{5}\left( - \right) \cr} $$

Marked Price	:	Net Price
20	:	17
5	:	4
100	:	68

100 units = Rs. 50
1 unit = Rs. 0.50
68 units = Rs. 34

13

If the cost price of 10 articles is equal to the selling price of 7 articles, then the gain or loss percent is = ?

A) 51% gain B) $$42\frac{6}{7}$$% gain C) 35% loss D) $$42\frac{6}{7}$$% loss

Discuss

Answer & Solution

Answer: Option B

Solution:

According to the question,
10 Cost Price = 7 Selling Price
$$\eqalign{ & \frac{{{\text{CP}}}}{{{\text{SP}}}} = \left. {\frac{7}{{10}}} \right\rangle {\text{3 unit profit}} \cr & {\text{Profit}}\% = \frac{3}{7} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 42\frac{6}{7}\% {\text{ gain}} \cr} $$

14

A coconut merchant finds that the cost price of 2750 coconuts is the same as the selling price of 2500 coconuts. His loss or gain will be = ?

A) 5% loss B) 10% gain C) 15% loss D) 20% gain

Discuss

Answer & Solution

Answer: Option B

Solution:

According to the question,
2750 Cost Price = 2500 Selling Price
$$\eqalign{ & \frac{{{\text{CP}}}}{{{\text{SP}}}} = \frac{{2500}}{{2750}} = \left. {\frac{{10}}{{11}}} \right\rangle {\text{1 unit profit}} \cr & {\text{Profit}}\% = \frac{1}{{10}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 10\% {\text{ gain}} \cr} $$

15

By selling an article for Rs. 100 a man gains Rs.15. Then, his gain % is -

A) 15% B) $$12\frac{2}{3}$$% C) $$17\frac{{11}}{{17}}$$% D) $$17\frac{1}{4}$$%

Discuss

Answer & Solution

Answer: Option C

Solution:

$$\eqalign{ & {\text{S}}{\text{.P}}{\text{.}} = {\text{Rs}}{\text{. }}100 \cr & {\text{Gain}} = {\text{Rs}}{\text{. }}15. \cr & \therefore {\text{C}}{\text{.P}}{\text{.}} = {\text{Rs}}.\left( {100 - 15} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}85 \cr & {\text{Gain }}\% = \left( {\frac{{15}}{{85}} \times 100} \right)\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{300}}{{17}}\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 17\frac{{11}}{{17}}\% \cr} $$

16

A trader buys some goods for Rs. 150. If the overhead expenses be 12% of cost price, then at what price should it be sold to earn 10% ?

A) Rs. 184.80 B) Rs. 185.80 C) Rs. 187.80 D) Rs. 188.80

Discuss

Answer & Solution

Answer: Option A

Solution:

Total C.P. = Cost + Overhead Expenses
= Rs. (150 + 12% of 150)
= Rs. (150 + 18)
= Rs. 168
$$\eqalign{ & \therefore {\text{S}}{\text{.P}}{\text{.}} = {\text{Rs}}{\text{.}}\left( {\frac{{110}}{{100}} \times 168} \right) \cr & = {\text{Rs}}{\text{. }}184.80 \cr} $$

17

If the loss of percent on article is 15%. Then the ratio of the cost price and selling price will be = ?

A) 17 : 20 B) 20 : 17 C) 23 : 15 D) 15 : 23

Discuss

Answer & Solution

Answer: Option B

Solution:

The loss of percent on article is 15%
$$\eqalign{ & 15\% = \frac{{15}}{{100}} = \frac{{3 \to {\text{Loss}}}}{{20 \to {\text{C}}{\text{.P}}{\text{.}}}} \cr & {\text{Selling price }} = 17 \cr & {\text{C}}{\text{.P}}{\text{.}}:{\text{S}}{\text{.P}}{\text{.}} = 20:17 \cr} $$

18

List price of T.V is Rs. 2300 and discount series found to be 25% ans 10%. Then the selling price of T.V is = ?

A) Rs. 1255.50 B) Rs. 1525.50 C) Rs. 1552.50 D) Rs. 1555.20

Discuss

Answer & Solution

Answer: Option C

Solution:

$$\eqalign{ & {\text{List price of T}}{\text{.V}} = {\text{2300}} \cr & {\text{Selling price}} \cr & = 2300 \times \frac{{75}}{{100}} \times \frac{{90}}{{100}} \cr & = {\text{Rs}}{\text{. 1552}}{\text{.50}} \cr} $$

19

Gopi goes from place A to B to bye an article costing 15% less at B, although he spends Rs. 150 on travelling, still he gains Rs. 150 compared to buying it at A. His profit percent is = ?

A) 4.5% B) 6% C) 7.5% D) 8%

Discuss

Answer & Solution

Answer: Option C

Solution:

Let price at A = 100x
After
Then price at B = 85x → 15%
Discount
According to the question,
100x - (85x + 150) = 150
15x = 300
x = 20
Price at A = 100 × 20 = 2000
Price at B including travelling charges
= 85x = 150
= 85 × 20 + 150
= 1700 + 150
= 1850
$$\eqalign{ & {\text{Percentage profit }} \cr & = \frac{{2000 - 1850}}{{2000}} \times 100 \cr & = \frac{{150}}{{2000}} \times 100 \cr & = 7.5\% \cr} $$

20

If an article is sold at 200 percent profit, then the ratio of its cost price to its selling price will be -

A) 1 : 2 B) 2 : 1 C) 1 : 3 D) 3 : 1

Discuss

Answer & Solution

Answer: Option C

Solution:

Let C.P. = Rs. x
Profit = 200%
∴ S.P. = 300% of Rs. x = Rs. 3x
Required ratio = x : 3x = 1 : 3