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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-7 section-2

Each section contains 100 MCQs on Profit and Loss .
61
Nikita bought 30 kg of wheat at the rate of Rs. 9.50 per kg and 40 kg of wheat at the rate of Rs. 8.50 per kg and mixed them. She sold the mixture at the rate of Rs. 8.90 per kg. Her total profit or loss in the transaction was -
Discuss
Answer & Solution
Answer: Option A
Solution:
C.P. of 70 kg wheat
= Rs. (30 × 9.50 + 40 × 8.50)
= Rs. (285 + 340)
= Rs. 625
S.P. of 70 kg wheat
= Rs. (70 × 8.90)
= Rs. 623
∴ Loss = Rs. (625 - 623) = Rs. 2
62
An article is sold at a gain of 15% . Had it been sold for Rs. 27 more, the profit would have been 20% . The cost price of the article is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{Let cost}}\,{\text{price}}\,{\text{be}}\,x \cr & {\text{profit}} = \frac{{15x}}{{100}} \cr & {\text{If}}\,{\text{it}}\,{\text{was}}\,{\text{sold}}\,{\text{for}}\,{\text{Rs}}{\text{.}}\,27\,{\text{more,}} \cr & {\text{profit}} = \frac{{20x}}{{100}} \cr & \frac{{20x}}{{100}} - \frac{{15x}}{{100}} = 27 \cr & \frac{{5x}}{{100}} = 27 \cr & \frac{x}{{20}} = 27 \cr & \therefore x = 540 \cr} $$
63
A businessman bought an article and sold it at a loss of 5% . If he had bought it for 10% less and sold it for Rs. 33 more, he would have had a profit of 30% . The cost price of the article is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let the CP1 of article = 100x
Initial SP1 = 100x - 5% of 100x = 100x - 5x = 95x
Now, If He brought article at 10% discount. Therefore CP2 = 90x
Now SP2 = 90x + 30% of 90x = 90x + 27x =117x
According to question
SP2 - SP1 = 33
⇒ 117x - 95x = 33
⇒ 22x = 33
⇒ x = $$\frac{33}{22}$$
⇒ x = $$\frac{3}{2}$$
Initial Cost of article
= 100 × $$\frac{3}{2}$$
= Rs. 150
64
A profit of 12% is made when a mobile phone is sold at Rs. P and there is 4% loss when the phone is sold at Rs. Q. Then Q : P is = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{CP}} = {\text{P}} \times \frac{{100}}{{112}} \cr & {\text{CP}} = {\text{Q}} \times \frac{{100}}{{96}} \cr & \frac{{{\text{P}} \times 100}}{{112}} = \frac{{{\text{Q}} \times 100}}{{96}} \cr & {\text{P}}:{\text{Q}} = 112:96 \cr & {\text{P}}:{\text{Q}} = 56:48 \cr & {\text{P}}:{\text{Q}} = 7:6 \cr & {\text{Q}}:{\text{P}} = 6:7 \cr} $$
65
Manish purchased 25 kg of rice @ Rs. 32 per kg and 15 kg of rice @ Rs. 36 per kg. He mixed the two varieties of rice and sold it @ Rs. 40.20 per kg. What is the percent profit earned ?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{C}}{\text{.P}}{\text{. of 40 kg rice}} \cr & = {\text{Rs}}.\left( {25 \times 32 + 15 \times 36} \right) \cr & = {\text{Rs}}.\left( {800 + 540} \right) \cr & = {\text{Rs}}.1340. \cr & {\text{S}}{\text{.P}}{\text{. of 40 kg rice}} \cr & = {\text{Rs}}.\left( {40 \times 40.20} \right) \cr & = {\text{Rs}}{\text{. }}1608. \cr & {\text{Profit}} = {\text{Rs}}.\left( {1608 - 1340} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}268. \cr & \therefore {\text{Profit }}\% = \left( {\frac{{268}}{{1340}} \times 100} \right)\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 20\% \cr} $$
66
Arun purchased 30 kg of wheat at the rate of Rs. 11.50 per kg and 20 kg of wheat at the rate of Rs. 14.25 per kg. He mixed the two and sold the mixture. Approximately what price per kg should he sell the mixture to make 30% profit ?
Discuss
Answer & Solution
Answer: Option D
Solution:
C.P. of 50 kg wheat
= Rs. (30 × 11.50 + 20 × 14.25)
= Rs. (345 + 285)
= Rs. 630
$$\eqalign{ & {\text{S}}{\text{.P}}{\text{. of 50 kg wheat}} \cr & = 130\% {\text{ of Rs}}{\text{.630}} \cr & = {\text{Rs}}.\left( {\frac{{130}}{{100}} \times 630} \right) \cr & = {\text{Rs}}.819 \cr & \therefore {\text{S}}{\text{.P}}{\text{. per kg}} \cr & = {\text{Rs}}{\text{.}}\left( {\frac{{819}}{{50}}} \right) \cr & = {\text{Rs}}.16.38 \approx {\text{Rs}}.16.30 \cr} $$
67
A dealer buys dry fruit at the rate of Rs. 100, Rs. 80 and Rs. 60 per kg. He bought them in the ratio 12 : 15 : 20 by weight. He in total gets 20% profit by selling the first two and at last he finds he has no gain no loss in selling the whole quantity which he had. What was the percentage loss he suffered for the third quantity ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Suppose he bought 12 kg, 15 kg and 20 kg of the three varieties respectively.
Then,
Total C.P. = Rs. (12 × 100 + 15 × 80 + 20 × 60)
= Rs. (1200 + 1200 + 1200)
= Rs. 3600
Let the loss on the third quantity be x%
Than,
=120% of 2400 +(100 - x)% of 1200 = 3600
$$\eqalign{ & \Rightarrow \left( {\frac{6}{5} \times 24} \right) + \left( {\frac{{100 - x}}{{100}} \times 12} \right) = 36 \cr & \Rightarrow \frac{{100 - x}}{{100}} \times 12 = 36 - \frac{{144}}{5} = \frac{{36}}{5} \cr & \Rightarrow \frac{{100 - x}}{{100}} = \frac{{36}}{5} \times \frac{1}{{12}} = \frac{3}{5} \cr & \Rightarrow 500 - 5x = 300 \cr & \Rightarrow 5x = 200 \cr & \Rightarrow x = 40\% \cr} $$
68
A man purchased an article for Rs. 1500 and sold it at 25% above the cost price. If he has to pay Rs. 75 as tax on it his net profit percentage will be = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
$$\eqalign{ & {\text{Cost price}} = {\text{Rs}}{\text{. 1500}} \cr & {\text{Profit after selling}} \cr & = 25\% {\text{ of }}1500 \cr & = {\text{Rs}}{\text{.375}} \cr & {\text{Net profit }} \cr & = {\text{Rs}}{\text{.375}} - {\text{Rs}}{\text{.75}} \cr & = {\text{Rs}}{\text{.300}} \cr & {\text{Net profit }}\% \cr & = \frac{{300}}{{1500}} \times 100 \cr & = 20\% \cr} $$
69
By selling some goods at Rs. 31, a salesman loses 7% on his output. Find the percentage profit of loss, when he sells the same at Rs. 35 = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
Selling price of goods = Rs. 31
Cost price of goods
$$\eqalign{ & = {\text{31}} \times \frac{{100}}{{93}} \cr & = {\text{Rs}}{\text{. }}\frac{{100}}{3} \cr & {\text{Profit }}\% \cr & = \frac{{35 - \frac{{100}}{3}}}{{\frac{{100}}{3}}} \times 100 \cr & = \frac{{\frac{5}{3}}}{{\frac{{100}}{3}}} \times 100 \cr & = 5\% \cr} $$
70
The marked price of an article is 10% higher than cost price. A discount of 10% is given on marked price. In this kind of seller bears = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let cost price of the article is = Rs. 100
Marked price is 10% high of cost price mean = Rs. 110
Discount always given on marked price
10% discount of marked price means
$$ = \frac{{10}}{{100}} \times 110 = {\text{ Rs}}{\text{. 11}}$$
∴ Selling price = Marked price - Discount
Selling price = 110 - 11 = Rs. 99
$$\eqalign{ & \therefore {\text{Loss}}\% \cr & = \frac{{{\text{Cost price}} - {\text{Selling price}}}}{{{\text{Cost price}}}} \cr & \Rightarrow {\text{Loss}}\% = \frac{{100 - 99}}{{100}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{1}{{100}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 1\% \cr} $$