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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-5 section-4

Each section contains 100 MCQs on Profit and Loss .
41
The price of an article by 30% and then two successive discounts of 10% each are allowed. Ultimately, the price of the article is -
Discuss
Answer & Solution
Answer: Option C
Solution:
Let the original price be Rs. 100
Then, Marked price = Rs. 130
Final price = 90% of 90% of Rs. 130
$$\eqalign{ & {\text{ = Rs}}{\text{.}}\left( {\frac{{90}}{{100}} \times \frac{{90}}{{100}} \times 130} \right) \cr & = {\text{Rs}}{\text{.105}}{\text{.30}}{\text{}} \cr} $$
∴ Increase in price = (105.30 - 100)% = 5.3%
42
A sells a car priced at Rs. 36000. He gives a discount of 8% on the 1st Rs. 20000 and 5% on the remaining Rs. 16000 B also sells a car of the same make, period at Rs. 36000. He gives a discount of 7% on the total price. Calculate the actual price charged by A and B for the cars =
Discuss
Answer & Solution
Answer: Option D
Solution:
$$\eqalign{ & {\text{Total discount by A}} \cr & = 20000 \times \frac{8}{{100}} + 16000 \times \frac{5}{{100}} \cr & = 1600 + 800 \cr & = {\text{Rs}}{\text{. 2400}} \cr & {\text{Selling price of A}} \cr & = 36000 - 2400 \cr & = {\text{Rs}}.33600 \cr & {\text{Selling price of B}} \cr & = 36000 \times \frac{{100 - 7}}{{100}} \cr & = 36000 \times \frac{{93}}{{100}} \cr & = {\text{Rs}}{\text{. 33480}} \cr} $$
43
A person buys a bag at 25% discount on its original price. After few days, he sells it to his friend at 40% increase on the original price. What is his profit percentage (approx) ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let original price is 100
SP1 = 75
SP2 = 140
$$\eqalign{ & {\text{Profit }}\% = \frac{{140 - 75}}{{75}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{65}}{{75}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 87\% \cr} $$
44
A loss of 20% gets converted into a profit of 15% when the selling price of an article is increased by Rs. 70. Find the cost price of the article = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{Let selling price}} = {\text{100}} \cr & \underbrace {\mathop {{\text{Loss}}}\limits_{80} \,\,\,\,\,\,\,\,\mathop {{\text{Profit}}}\limits_{115} }_{{\text{Selling price }}35} \cr & {\text{35}} \to {\text{70}} \cr & {\text{1}} \to \frac{{70}}{{35}} = 2{\text{ }} \cr & \therefore {\text{Cost price}} = 100 \times 2 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}200 \cr} $$
45
By selling an umbrella for Rs. 300, a shopkeeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% on the marked price. His gain percent during the sale is -
Discuss
Answer & Solution
Answer: Option C
Solution:
Marked price = Rs. 300
$$\eqalign{ & {\text{C}}{\text{.P}}{\text{.}} = {\text{Rs}}{\text{.}}\left( {\frac{{100}}{{120}} \times 300} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.250}}{\text{}} \cr} $$
Sale price = 90% of Rs. 300 = Rs. 270
$$\eqalign{ & \therefore {\text{ Required gain }}\% \cr & {\text{= }}\left( {\frac{{20}}{{250}} \times 100} \right)\% \cr & = 8\% \cr } $$
46
At what percent above the cost price must a shopkeeper mark his goods so that he gains 20% even after giving a discount of 10% on the marked price ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let Cost price = Rs. 100
Then,
Selling price = Rs. 120
Let marked price be Rs. x
Then,
90% of x = 120
$$\eqalign{ & \Rightarrow x{\text{ = }}\left( {\frac{{120 \times 100}}{{90}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\, = 133\frac{1}{3} \cr & \therefore {\text{Marked price}} \cr & = {\text{33}}\frac{1}{3}\% {\text{ above C}}{\text{P}}{\text{}} \cr} $$
47
A discount of 10% is given by a salesman for cash payment. What should be the marked price if he wants to earn a profit of 5% ?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & \,\,\,{\text{Cost price}}:{\text{Marked price}} \cr & \left( {100 - {\text{D}}\% } \right):\left( {100 + {\text{P}}\% } \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\underbrace {90\,\,\,\,\,\,\,\,\,\,{\text{:}}\,\,\,\,\,\,\,\,\,\,\,{\text{105}}}_{15} \cr} $$
Percentage of marked price above cost price
$$\eqalign{ & = \frac{{15}}{{90}} \times 100 \cr & = 16\frac{2}{3}\% \cr & = 16.67\% \cr} $$
48
A shopkeeper purchased 50 dozen cups for Rs. 3000. Out of these, 60 cups were broken and could not be sold. At what rate per dozen should he sell the remaining cup to make a profit of 20% ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Cost Price = Rs. 3000
To make a profit of 20%, selling price should be,
$$\eqalign{ & {\text{SP}} = 3000 \times \frac{6}{5} \cr & \,\,\,\,\,\,\,\,\, = 3600 \cr} $$
As 5 dozens cup were broken out of 50 dozen
So, selling price of remaining 45 dozen cup :
$$ = \frac{{3600}}{{45}} = {\text{Rs}}{\text{. 80}}$$
49
If a commission at the rate of 10% is given to a bookseller on the marked price of a book by the publisher, the publisher gains 20% . If the commission is increased to 15% , then the gain percent would be = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
Let CP = 100 and Marked Price = x
SP = 100 + 20% of 100 = 120
10% commision was given on SP
SP = x - 10% of x
$$\eqalign{ & 120 = x - \frac{{10x}}{{100}} \cr & 120 = \frac{{9x}}{{10}} \cr & 9x = 1200 \cr & x = \frac{{1200}}{9} = 133.33 \cr & {\text{MP}} = 133.33 \cr} $$
If 15% commission was given, then
SP = 133.33 - 15% of 133.33
SP = 133.33 - 20
SP = 113.33
Gain = 113.33 - 100
% Gain = 13.33% or $$13\frac{1}{3}\% $$
50
A shopkeeper marks his goods at such a price that after allowing a discount of 12.5 % on the marked price, he still earns a profit of 10%. The marked price of an article which costs him Rs. 4900 is -
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{C}}{\text{.P}}{\text{. = Rs}}{\text{. 4900}}{\text{.}} \cr & {\text{S}}{\text{.P}}{\text{. = 110}}\% {\text{ of Rs}}{\text{.4900}} \cr & {\text{ = Rs}}{\text{.}}\left( {\frac{{110}}{{100}} \times 4900} \right) \cr & = {\text{Rs}}{\text{. 5390}}{\text{.}} \cr & {\text{Let marked price be Rs}}{\text{.}}x \cr & {\text{Then,}} \cr & {\text{ = 87}}\frac{1}{2}\% {\text{ of }}x{\text{ = 5390}} \cr & \Rightarrow \left( {\frac{{175}}{2} \times \frac{1}{{100}} \times x} \right) = 5390 \cr & \Rightarrow x = \left( {\frac{{5390 \times 8}}{7}} \right) = 6160 \cr & \therefore {\text{Marked price}} = {\text{Rs}}{\text{.6160}} \cr} $$