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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-4

Each section contains 100 MCQs on Profit and Loss .
61
A shopkeeper sells a badminton racket, whose marked price is Rs. 30, at a discount of 15% and gives a shuttle cock costing Rs. 1.50 free with each racket. Even then he makes a profit of 20% . His cost price per racket is.
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Marked Price}} = {\text{Rs}}{\text{.30}}{\text{}} \cr & {\text{Selling Price}} \cr & = {\text{Rs}}{\text{.}}\left[ {\left( {\frac{{85}}{{100}} \times 30} \right) - 1.50} \right] \cr & = {\text{Rs}}{\text{.}}\left( {25.50 - 1.50} \right) \cr & = {\text{Rs}}{\text{.2}}4. \cr & {\text{Let C.P. be }}{\text{Rs}}{\text{. }}x \cr & {\text{Then,}} \cr & {\text{120}}\% {\text{ of }}x = {\text{24}} \cr & \Rightarrow x = \left( {\frac{{24 \times 100}}{{120}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}20 \cr} $$
62
A trader purchased a gift box for Rs. 150. What should be the marked price on the gift box so that after allowing a discount of 10% , he makes a profit of 10% ?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Cost}}\,{\text{price}}\,{\text{of}}\,{\text{gift}}\, = {\text{Rs}}{\text{.}}\,150 \cr & {\text{Profit}}\% = 10\% \cr & {\text{SP}} = 150 + \left( {\frac{{10}}{{100}} + 150} \right) \cr & \,\,\,\,\,\,\,\,\,\, = 150 + 15 \cr & \,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,165 \cr & {\text{Discount}}\% = 10\% \cr & {\text{MP}} = \frac{{165}}{{\left( {100 - 10} \right)}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\, = \frac{{1650}}{9} \cr & \,\,\,\,\,\,\,\,\,\,\,\, \approx {\text{Rs}}{\text{.}}\,183.30 \cr} $$
63
A shopkeeper purchases two items for Rs. 520. One of them is sold gaining 16% and the other at a loss of 10%, thus making no profit or loss. What is the selling price of the item sold at loss ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the price of 1st item is x
Then for 2nd 520 - x
Profit and loss of both items are same
Then,
$$\eqalign{ & \frac{{x \times 16}}{{100}} - \frac{{\left( {520 - x} \right) \times 10}}{{100}} = 0 \cr & \Rightarrow 16x = \left( {520 - x} \right)10 \cr & \Rightarrow 26x = 5200 \cr & \Rightarrow x = 200 \cr & {\text{CP}} = 520 - 200 \cr & \,\,\,\,\,\,\,\,\,\,\, = 320 \cr & {\text{SP}} = 320 \times \frac{{90}}{{100}} \cr & \,\,\,\,\,\,\,\,\,\, = 288 \cr} $$
64
A dishonest dealer professes to sell his goods at cost price but uses a weight of 875 gms for the kilogram weight. His gain in the percentage is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let dealer purchase 1000 gm in Rs. 1000
But at selling time sold 875 gm in place of 1000 gm
So,
$$\eqalign{ & {\text{Profit }}\% = \frac{{1000 - 875}}{{875}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 14\frac{2}{7}\% \cr} $$
65
A shopkeeper sold an air - conditioner for Rs. 25935 with a discount of 9% and earned a profit of 3.74%. What would have been the percentage of profit if no discount were offered?
Discuss
Answer & Solution
Answer: Option D
Solution:
Selling Price = Rs. 25935
Let marked price be Rs. x
Then,
$$\eqalign{ & = {\text{91}}\% {\text{ of }}x{\text{ = 25935}} \cr & x{\text{ = }}\left( {\frac{{25935 \times 100}}{{91}}} \right) \cr & \,\,\,\,\,\, = 28500 \cr & {\text{Cost Price}} \cr & = {\text{Rs}}.\left( {\frac{{100}}{{103.74}} \times 25935} \right) \cr & = {\text{Rs}}{\text{. 25000}}{\text{}} \cr} $$
Now Cost price = Rs. 25000
S.P. = Rs. 28500
Profit = Rs. (28500 - 25000) = Rs. 3500
$$\eqalign{ & \therefore {\text{ Required profit }}\% \cr & = \left( {\frac{{3500}}{{25000}} \times 100} \right)\% \cr & = 14\% \cr} $$
66
A shopkeeper sells 25 articles at Rs. 45 per article after giving 10% discount and earns 50% profit. If the discount is not given, the profit gained is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Selling price of 1 article = Rs. 45
Let marked price of each article be Rs. x
Then,
$$\eqalign{ & \frac{{90}}{{100}}x = 45 \cr & x = {\text{Rs}}{\text{.}}\left( {\frac{{45 \times 100}}{{90}}} \right) \cr & \,\,\,\,\,\, = {\text{Rs}}{\text{. 50}} \cr & {\text{CP}} = {\text{Rs}}{\text{.}}\left( {\frac{{100}}{{150}} \times 45} \right) \cr & \,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. 30}} \cr} $$
When no discount is given,
Cost price = Rs. 30,
Selling price = Rs. 50
∴ Required profit %
$$\eqalign{ & = \left( {\frac{{20}}{{30}} \times 100} \right)\% \cr & = 66\frac{2}{3}\% \cr} $$
67
At what percentage above the cost price must an article be marked so as to gain 33% after allowing a customer a discount of 5% ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Cost Price : Marked Price
(100 - Discount%)   :   (100 + Profit%)
100 - 5% : 100 + 33%
$$\underbrace {95\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,133}_{38}$$
$$\eqalign{ & {\text{Required }}\% = \frac{{38}}{{95}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 40\% \cr} $$
68
A dealer allows a discount of 15%. A customer pays an amount of Rs. 318.75 for an article. At what price is the article listed ?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$15\% = \frac{3}{{20}},$$
Cost Price       Selling Price
$$\mathop { \downarrow \times 18.75}\limits_{375\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,}^{20\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,} $$       $$\mathop { \downarrow \times 18.75}\limits_{318.75\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,}^{17\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,} $$

Article listed price is Rs. 375.00
69
A man bought 25 crates of oranges for 10000. He lost 5 crates. In order to earn a total profit of 25% of the total cost, he would have to sell each of the remaining crates at = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
Remaining creates = 25 - 5 = 20
So,
$$\eqalign{ & {\text{Cost Price}} \cr & = \frac{{10000}}{{20}} = 500/{\text{crates}} \cr & {\text{25}}\% = \frac{{1 \leftarrow {\text{Profit}}}}{{4 \leftarrow {\text{Cost price}}}} \cr & \,\,\,\,\,\,{\text{CP}}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{SP}} \cr & \mathop { \downarrow \times 125}\limits_{500\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,}^{4\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,} \mathop {\,\,\,\,\, \downarrow \times 125}\limits_{625\,\,\,\,\,\,\,\,\,\,\,}^{5\,\,\,\,\,\,\,\,\,\,\,} \cr} $$
Sell each of the remaining crates = Rs. 625
70
The marked price of a shirt and trousers are in the ratio 1 : 2. The shopkeeper gives 40% discount on the shirt. If the total discount on the set of the shirt and trousers is 30%, the discount offered on the trousers is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let the marked price of the shirt and trousers be Rs. x and Rs. 2x respectively.
Let the discount offered on trousers be y%
Then, Selling price of shirt
$$\eqalign{ & = 60\% {\text{ of Rs}}{\text{. }}x \cr & = {\text{Rs}}\left( {\frac{{60}}{{100}} \times x} \right) \cr & = {\text{Rs}}{\text{.}}\frac{{3x}}{5} \cr & {\text{Selling price of trousers}} \cr & = \left( {100 - y} \right)\% {\text{ of Rs}}{\text{. }}2x \cr & = {\text{Rs}}.\left[ {\frac{{\left( {100 - y} \right)}}{{100}} \times 2x} \right] \cr & = {\text{Rs}}.\left[ {\frac{{\left( {100 - y} \right)x}}{{50}}} \right] \cr} $$
Combined Selling price of shirt and trousers
$$\eqalign{ & = 70\% {\text{ of Rs}}{\text{.}}\left( {x + 2x} \right) \cr & = {\text{Rs}}.\left( {\frac{{70}}{{100}} \times 3x} \right) \cr & = {\text{Rs}}.\frac{{21x}}{{10}} \cr & \therefore \frac{{3x}}{5} + \frac{{\left( {100 - y} \right)x}}{{50}} = \frac{{21x}}{{10}} \cr & \Rightarrow \frac{{130 - y}}{{50}} = \frac{{21}}{{10}} \cr & \Rightarrow 1300 - 10y = 1050 \cr & \Rightarrow y = 25 \cr} $$