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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-3

Each section contains 100 MCQs on Profit and Loss .
11
By selling an article at $$\frac{2}{3}$$ of the marked price, there is a loss of 10% . The profit percent, when the article is sold at the marked price, is -
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{Let the M}}{\text{.P be Rs}}{\text{. }}x. \cr & {\text{Then,}} \cr & {\text{S}}{\text{.P}}{\text{.}} = {\text{Rs}}.\frac{2}{3}x,{\text{loss}} = 10\% \cr & {\text{C}}{\text{.P}}{\text{.}} = {\text{Rs}}.\left( {\frac{{100}}{{90}} \times \frac{2}{3}x} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}.\frac{{20}}{{27}}x \cr & {\text{If an article is sold at M}}{\text{.P}}{\text{.}} \cr & {\text{Then,}} \cr & {\text{Profit}} = {\text{Rs}}.\left( {x - \frac{{20}}{{27}}x} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}.\frac{{7x}}{{27}} \cr & \therefore {\text{Profit}}\% \cr & = \left( {\frac{{7x}}{{27}} \times \frac{{27}}{{20x}} \times 100} \right)\% \cr & = 35\% \cr} $$
12
Raghavan purchase a scooter at $$\frac{13}{15}$$ of its selling price and sold it at 12% more than its selling price. His gain is -
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Let S}}{\text{.P}}{\text{. be Rs}}{\text{. }}x \cr & {\text{Then,}} \cr & {\text{C}}{\text{.P}}{\text{.}} = {\text{Rs}}.\frac{{13}}{{15}}x, \cr & {\text{Receipt}} = 112\% {\text{ of Rs}}{\text{. }}x \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}.\frac{{28}}{{25}}x \cr & {\text{Gain}} = {\text{Rs}}.\left( {\frac{{28x}}{{25}} - \frac{{13x}}{{15}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}.\frac{{19x}}{{75}} \cr & \therefore {\text{Gain}}\% \cr & = \left( {\frac{{19x}}{{75}} \times \frac{{15}}{{13x}} \times 100} \right)\% \cr & = \frac{{380}}{{13}}\% \cr & = 29\frac{3}{{13}}\% \cr} $$
13
A sells a bicycle to B at a profit of 20% . B sells it to C at a profit of 25% . If C pays Rs. 225 for it, the cost price of the bicycle for A is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
According to the question,
A   B   C  
10   \[\xrightarrow{{20\% {\text{ profit}}}}\]   12   \[\xrightarrow{{25\% {\text{ profit}}}}\]   12 + 3  = 15 \[ \to \] 225

$$\eqalign{ & \therefore {\text{1 unit}} = {\text{15}} \cr & \therefore {\text{10 units}} = 10 \times 15 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.150}} \cr} $$
14
A house worth Rs. 150000 is sold by X at a 5% profit to Y, Y sells the house back to X at a 2% loss. Then find profit and 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
15
A manufacturer sells an article to a wholesale dealer at a profit of 10% . The wholesale dealer sells it to a shopkeeper at 20% profit. The shop - keeper sells it to a customer for Rs. 56100 at a loss of 15% . Then the cost price of the article to the manufacturer is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & = \left( {\frac{{56100 \times 100 \times 100 \times 100}}{{\left( {100 - 15} \right) \times \left( {100 + 10} \right) \times \left( {100 + 20} \right)}}} \right) \cr & = \left( {\frac{{56100 \times 100 \times 100 \times 100}}{{85 \times 110 \times 120}}} \right) \cr & = {\text{Rs}}{\text{.}}\,50000 \cr} $$
16
An increase of Rs. 3 in the selling price of an article turns a loss of $$7\frac{1}{2}$$% into a gain of $$7\frac{1}{2}$$%. The cost price in (Rs.) of the article is -
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{Let C}}{\text{.P}}{\text{. be Rs}}{\text{. }}x \cr & {\text{Then,}} \cr & 107\frac{1}{2}\% {\text{ of }}x - 92\frac{1}{2}\% {\text{ of }}x = 3 \cr & \Rightarrow \frac{{215}}{{200}}x - \frac{{185}}{{200}}x = 3 \cr & \Rightarrow \frac{{30x}}{{200}} = 3 \cr & \Rightarrow x = 20 \cr} $$
17
A shopkeeper sells an article at $$12\frac{1}{2}$$% loss. If he sells it for Rs. 92.50 more than he gains 6% . What is the cost price of the article ?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{Let C}}{\text{.P}}{\text{. be Rs}}{\text{. }}x \cr & {\text{Then,}} \cr & {\text{ = }}\left( {106\% {\text{ of }}x} \right) - \left( {87\frac{1}{2}\% {\text{ of }}x} \right) = 92.50 \cr & \Rightarrow 18\frac{1}{2}\% {\text{ of }}x = 92.50 \cr & \Rightarrow x = \left( {\frac{{92.50 \times 100 \times 2}}{{37}}} \right) = 500 \cr & {\text{CP}} = {\text{Rs}}{\text{. }}500 \cr} $$
18
A sells a cycle to B at a profit of 10% , B sells to C at a profit of 20% . If C pays Rs. 264 for it, how much did A pay for it ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Let cost price for A = Rs. 100
SP for A = CP for B = 100 + 10% of 100 = 110
SP for B = CP for C = 110 + 20% of 110 = 132
Given,
CP for C = 264
So,
132 = 264
$$\eqalign{ & 1 = \frac{{264}}{{132}} \cr & 100 = \frac{{264 \times 100}}{{132}} = {\text{Rs}}{\text{.}}\,200 \cr} $$
CP for A = Rs. 200
19
A sold a tape - recorder to B for Rs. 4860 at a loss of 19% . Again B sold it to C at price that would give A a profit of 17% . The gain of B is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
CP of the Product = $$\frac{{4860 \times 100}}{{81}} = 6000$$
Loss of A = 6000 - 4860 = 1140
Now B sold the product to C with 17% profit of A
i.e. 6000 + 17% of 6000
= 6000 + 1020
= 7020

∴ Total Profit of B = 7020 - 4860 = 2160
% Gain of B   $$ = \frac{{2160}}{{4860}} \times 100 = 44\frac{4}{9}\% $$
20
A dishonest fruit vendor sells his goods at cost price but they uses a weight of 900 gm. for the 1 kg. weight. His gain percent is = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
According to the question,
Shopkeeper sells his goods at cost price
Let, Cost price of 1000 gm. goods = Rs. 1000
He sold 900 gm. goods
Selling price of 900 gm. goods = Rs. 1000
Cost price of 900 gm. goods = Rs. 900
$$\eqalign{ & {\text{Profit}}\% = \frac{{100}}{{900}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 11\frac{1}{9}\% \cr} $$