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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-4 section-4

Each section contains 100 MCQs on Profit and Loss .
31
A trader marked the price of his commodity so as to include a profit of 25%. He allowed discount of 16% on the marked price. His actual profit was -
Discuss
Answer & Solution
Answer: Option A
Solution:
Let Cost price be Rs. 100
Then,
Marked price = Rs. 125
Selling price = 84% of Rs. 125
$$\eqalign{ & {\text{ = Rs}}{\text{.}}\left( {\frac{{84}}{{100}} \times 125} \right) \cr & = {\text{Rs}}{\text{.105}}{\text{}} \cr} $$
∴ Profit % = (105 - 100)% = 5%
32
The cost price of a radio is Rs. 600. The 5% of the cost price is charged towards transportation. After adding that, if the net profit to be made is 15%, then the selling price of the radio must be = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
According to the question,
Cost price of the radio = Rs. 600
5% of cost price is charged
$$\eqalign{ & = \frac{5}{{100}} \times 600 \cr & = {\text{Rs}}{\text{. 30}} \cr} $$
∴ Total cost price = 600 + 30 = Rs. 630
To gain 15% then selling price
$$\eqalign{ & = 630 + \frac{{15}}{{100}} \times 630 \cr & = {\text{Rs}}{\text{. 724}}{\text{.50}} \cr} $$
33
A shopkeeper purchased a TV for Rs. 2000 and a radio for Rs. 750. He sells the TV at a profit of 20% and the radio at a loss of 5%. The total loss or profit is = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Cost}}\,{\text{price}}\,{\text{of}}\,{\text{TV}} = {\text{Rs}}{\text{.}}\,2000 \cr & {\text{Profit}}\% = 20\% \cr & {\text{Selling}}\,{\text{price}}\,{\text{of}}\,{\text{TV}} \cr & = 2000 + \left( {\frac{{20}}{{100}} \times 2000} \right) \cr & = 2000 + 400 \cr & = {\text{Rs}}{\text{.}}\,2400 \cr & {\text{Similarly,}} \cr & {\text{Selling}}\,{\text{price}}\,{\text{of}}\,{\text{radio}} \cr & = 750 - \left( {\frac{5}{{100}} \times 750} \right) \cr & = 750 - 37.5 \cr & = {\text{Rs}}{\text{.}}\,712.5 \cr & {\text{Thus,}}\,{\text{total}}\,{\text{cost}}\,{\text{price}} \cr & = 2000 + 750 \cr & = \text{Rs.}\,2750 \cr & {\text{and}}\,{\text{total}}\,{\text{Selling}}\,{\text{price}} \cr & = 2400 + 712.5 \cr & = {\text{Rs}}{\text{.}}\,3112.5 \cr & \therefore {\text{Gain}} = 3112.5 - 2750 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,362.50 \cr} $$
34
A fruit seller buys 240 apples for Rs. 600. Some of these apples are rotten and are thrown away. He sells the remaining apples at Rs. 3.50 each and makes a profit of Rs. 198. The % of apples thrown away are ?
Discuss
Answer & Solution
Answer: Option B
Solution:
Let the number of bad apples = x
Cost price of (240 - x) apples = Rs. 600
Selling Price of (240 - x) apples
= Rs. 3.50 × (240 - x)
According to the question,
⇒ 3.50 × (240 - x) - 600 = 198
⇒ x = 12
So, % of apples thrown away are
$$\eqalign{ & x\% = \frac{{12}}{{240}} \times 100\% \cr & \,\,\,\,\,\,\,\,\,\, = 5\% \cr} $$

Alternate :
Selling price of apples
= 600 + 198 = 798
Number of apples sold
$$\eqalign{ & = \frac{{798}}{{3.50}} = 228 \cr & \% {\text{ of apples thrown}} \cr & {\text{ = }}\frac{{240 - 228}}{{240}} \times 100 \cr & = \frac{{12}}{{240}} \times 100 \cr & = 5\% \cr} $$
35
A tradesman marks his goods 30% above the C.P. If he allows a discount of $$6\frac{1}{4}$$ %, then his gain percent is -
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{Let C}}{\text{.P}}{\text{. be Rs}}{\text{.100}}{\text{.}} \cr & {\text{Then, }} \cr & {\text{marked price = Rs}}{\text{.130}}{\text{.}} \cr & {\text{Selling Price}} \cr & {\text{ = }}\left( {100 - \frac{{25}}{4}} \right)\% {\text{ of Rs}}{\text{.130}} \cr & {\text{ = Rs}}{\text{.}}\left( {\frac{{375}}{{400}} \times 130} \right) \cr & = {\text{Rs}}{\text{.121}}{\text{.875}}{\text{.}} \cr & \therefore {\text{ Profit }}\% \cr & {\text{ = }}\left( {121.875 - 100} \right)\% \cr & {\text{ = 21}}{\text{.875}}\% \cr & {\text{ = }}\frac{{21875}}{{1000}}{\text{ }}\% \cr & {\text{ = 21}}\frac{7}{8}\% \cr} $$
36
A shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed price. The ratio of the cost price and the printed price of the book is -
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the printed price be Rs. 100
S.P. = 90% of Rs. 100 = Rs. 90
$$\eqalign{ & {\text{C}}{\text{.P}}{\text{. = Rs}}{\text{.}}\left( {\frac{{100}}{{112}} \times 90} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\frac{{4500}}{{56}} \cr & \therefore {\text{ CP}}:{\text{Printed price}} \cr & {\text{ = }}\frac{{4500}}{{56}}:100 \cr & = 45:56 \cr} $$
37
Pawan kaul earns 15 percent on an investment but loses 10 percent on another investment. If the ratio of two investments is 3 : 5, then the combined loss percent is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the total first investment is 300 and the second is 500.
Total Investment = 300 + 500 = 800
15% profit on 1st investment = 300 + 15% of 300 = 300 + 45 = 345
10% loss on 2nd investment = 500 - 10% of 500 = 500 - 50 = 450
Now total amount = 345 + 450 = 795
Total loss = 800 - 795 = 5
% loss = $$\frac{5}{{800}} \times 100 = \frac{5}{8}\% $$
∴ % loss = $$ \frac{5}{8}\% $$
38
A trader sells two bullocks for Rs. 8400 each, neither losing nor gaining in total. If he sold of one of the bullocks at a gain of 20%, the other is sold at a loss of = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Total selling price of two bullocks = 8400 + 8400 = 16800
∴ Cost price of first bullock = 8400 × $$\frac{{100}}{{120}}$$ = Rs. 7000
According to the question, there is no profit or loss.
∴ Cost price of second bullock = 16800 – 7000 = Rs. 9800
Selling price of second bullock = Rs. 8400
∴ Loss = 9800 – 8400 = Rs. 1400
∴ Percentage loss on second bullock
$$\eqalign{ & = \frac{{1400}}{{9800}} \times 100\% \cr & = \frac{{100}}{7}\% \cr & = 14\frac{2}{7}\% \cr} $$
39
By selling an article at $$\frac{3}{4}$$ of selling price, a trader incurred a loss of 10%. The Profit/loss percentage, when it is sold at the original selling price, is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
$$\eqalign{ & {\text{Let cost price of the article}} = 100 \cr & 10\% \,{\text{loss}} \cr & {\text{Therefore}}\,S{P_1} = 100 - 10 = 90 \cr & \frac{{{\text{Original Selling Pric}}{{\text{e}}_2}}}{{{\text{Reduced Selling Pric}}{{\text{e}}_1}}} = \frac{4}{3} \cr & 3{\text{ units}} = 90 \cr & {\text{1 unit}} = 30 \cr & {\text{4 units}} = 30 \times 4 = 120 \cr & \therefore {\text{Profit }}\% = \frac{{20}}{{100}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 20\% \cr} $$
40
A showroom owner sells a leather jacket for Rs. x and claims to make a profit of 10%. He plans to have a stall in the trade fair and marks the same jacket at Rs. 2x. At the stall,he allows a discount of 20%. What will be the percentage profit that he will make at the trade fair?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{S}}{\text{.P}}{\text{. = Rs}}{\text{. }}x \cr & {\text{Profit = 10}}\% \cr & {\text{C}}{\text{.P}}{\text{. = Rs}}{\text{.}}\left( {\frac{{100}}{{110}} \times x} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{ Rs}}{\text{.}}\frac{{10x}}{{11}} \cr & {\text{M}}{\text{.P}}{\text{. = Rs}}{\text{. }}2x, \cr & {\text{Discount = 20}}\% {\text{}} \cr} $$
S.P. at trade fair = 80% of Rs. 2x
$$\eqalign{ & {\text{ = Rs}}{\text{.}}\left( {\frac{{80}}{{100}} \times 2x} \right) \cr & = {\text{Rs}}{\text{.}}\frac{{8x}}{5} \cr & {\text{Profit = Rs}}{\text{.}}\left( {\frac{{8x}}{5} - \frac{{10x}}{{11}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\frac{{38x}}{{55}} \cr & \therefore {\text{ Profit }}\% \cr & {\text{ = }}\left( {\frac{{38x}}{{55}} \times \frac{{11}}{{10x}} \times 100} \right)\% \cr & = 76\% \cr} $$