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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-5

Each section contains 100 MCQs on Profit and Loss .
61
A trader has a weighing balance that shows 1300 g for a kg. He further marks up his cost price by 15%. The net profit percentage is:
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & \frac{{{\text{Sale price}}}}{{{\text{Cost price}}}} = \frac{{1300}}{{1000}} \times \frac{{115}}{{100}} = \frac{{299}}{{200}} \cr & {\text{Profit }}\% = \frac{{99}}{{200}} \times 100 = 49.5\% \cr} $$
62
Anil bought two articles A and B at a total cost of Rs. 10,000. He sold the article A at 15% profit and the article B at 10% loss. In the whole deal, he made no profit or no loss. Find the selling price of the article A.
Discuss
Answer & Solution
Answer: Option C
Solution:
\[\begin{array}{*{20}{c}} {}&{\text{A}}&{\text{B}} \\ {{\text{Cost price}} \to }&{20}&{{{10}_{ \times 3}}} \\ {{\text{Profit/Loss}} \to }&{ + 3}&{ - {1_{ \times 3}}} \\ {{\text{Sale price}} \to }&{23}&{{9_{ \times 3}}} \end{array}\]
$$\eqalign{ & 50{\text{ units }} \to {\text{10000}} \cr & {\text{1 unit }} \to 200 \cr & {\text{Selling price of A}} = 23 \times 200 = {\text{Rs}}{\text{. }}4600 \cr} $$
63
The profit earned by selling an article for Rs. 832 is equal to the loss incurred when the article is sold for Rs. 448. What will be the selling price of the article if it is sold at a 10% loss?
Discuss
Answer & Solution
Answer: Option A
Solution:
SP1 = 832
SP2 = 448
CP - SP1 = SP2 - CP
CP - 832 = 448 - CP
2CP = 448 + 832
2CP = 1280
CP = 640
New SP = 640 \[ \times \frac{{90}}{{100}}\]  = 576 Answer
64
By selling two articles for Rs. 800, a person gains the cost price of three articles. The profit percent is:
Discuss
Answer & Solution
Answer: Option D
Solution:
Selling price of 2 → 800
                        1 → 400
Let cost price of one article = x
Gain at 2 articles = 3x
            1 article = $$\frac{{3{\text{x}}}}{2}$$
Selling price = x + $$\frac{{3{\text{x}}}}{2} = \frac{{5{\text{x}}}}{2}$$
Profit and Loss mcq question image
Profit % = $$\frac{3}{2}$$ × 100 = 150%
65
The cost of a diamond is directly proportional to the square of its weight. The cost of a 14 gm diamond is Rs. 2560. This diamond got broken down into two pieces in the ratio of 5 : 9. How much loss percent is incurred due to this breakage? (Correct to two decimal places)
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & P \propto \sqrt W \cr & {P^2} \propto W \cr & {\text{If weight}} = 14{\text{ gm}} = 5:9 \cr & {\text{Price}} = {5^2} + {9^2} = 106 \cr & {\text{Loss}} = 196 - 106 = 90 \cr & {\text{Loss }}\% = \frac{{90}}{{196}} \times 100 \cr & = 45.918 \cr & = 45.92\% \cr} $$
66
If the selling price of 7 article is equal to the cost price of 8 articles, then what is the profit percentage (correct to one decimal place)?
Discuss
Answer & Solution
Answer: Option D
Solution:
Selling price of 7 article is equal to cost price of 8 article
7 × Selling price = 8 × Cost price
$$\left. {\frac{{{\text{Cost price}}}}{{{\text{Selling price}}}} = \frac{7}{8}} \right\rangle + 1$$
Profit = 8 - 7 = 1
Profit % $$ = \frac{1}{7} \times 100 = 14.28\% \sim 14.3\% $$
67
Shashi sells two articles for Rs. 5,000 each with no loss and no profit in the overall transaction. If one article is sold at $$16\frac{2}{3}\% $$  loss, then other is sold at a profit of:
Discuss
Answer & Solution
Answer: Option A
Solution:
$$16\frac{2}{3}\% = \frac{{ - 1}}{6}$$
\[\begin{array}{*{20}{c}} {}&{\text{I}}&{{\text{II}}} \\ {{\text{Cost price}} \to }&6&4 \\ {{\text{Loss/Profit}} \to }&{ - 1}&{ + 1} \\ {{\text{Selling price}} \to }&5&5 \end{array}\]
$${\text{Profit }}\% = \frac{1}{4} \times 100 = 25\% $$
68
A lady sold an article for Rs. 960 at some profit. Had she sold it for Rs. 800, then there would have been a loss equal to $$\frac{1}{3}$$ of the initial profit. What was the profit percentage of the article?
Discuss
Answer & Solution
Answer: Option C
Solution:
S.P1 = 960
S.P2 = 800
There would have been a loss equal to $$\frac{1}{3}$$ of the previous profit.
Loss = $$\frac{1}{3}$$ × Profit
C.P - S.P2 = $$\frac{1}{3}$$[S.P1 - C.P]
3C.P - 2400 = 960 - CP
4C.P = 3360
C.P = 840
Profit = 960 - 840 = 120
Profit % $$ = \frac{{120}}{{840}} \times 100 = \frac{{100}}{7}\% $$
69
A person buys 80 kg of rice and sells it at a profit of as much money as he paid for 30 kg. His profit percent is:
Discuss
Answer & Solution
Answer: Option C
Solution:
Let, cost price of 80 kg rice is Rs. 80
Profit = Rs. 30
$${\text{Profit }}\% = \frac{{30}}{{80}} \times 100 = 37\frac{1}{2}\% $$
70
On selling an article for Rs. 123.40 the gain is 20% more than the amount of loss incurred on selling it for Rs. 108. If the article is sold for Rs. 120.75, then what is the gain/loss percent?
Discuss
Answer & Solution
Answer: Option D
Solution:
Loss : Profit = 5 : 6
Cost price = 123.40 - 6x = 108 + 5x
11x = 15.40
x = 1.4
Cost price = 108 + 5 × 1.4 = 115
Now Selling price = 120.75
Profit = 5.75
Profit % = $$\frac{{5.75}}{{115}}$$ × 100 = 5%