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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-8 section-2

Each section contains 100 MCQs on Profit and Loss .
71
By mixing two brands of tea and selling the mixture at the rate of Rs. 177 per kg, a shopkeeper makes a profit of 18% . If to every 2 kg of one brand costing Rs. 200 per kg, 3 kg of the other brand is added, then how much per kg does he other brand cost ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the cost of the other brand be Rs. x per kg.
C.P. of 5 kg = Rs. (2 × 200 + 3 × x) = Rs. (400 + 3x)
S.P. of 5 kg = Rs. (5 × 177) = Rs. 885
$$\eqalign{ & \therefore \frac{{885 - \left( {400 + 3x} \right)}}{{400 + 3x}} \times 100 = 18 \cr & \Leftrightarrow \frac{{485 - 3x}}{{400 + 3x}} = \frac{9}{{50}} \cr & \Leftrightarrow 24250 - 150x = 3600 + 27x \cr & \Leftrightarrow 177x = 20650 \cr & \Leftrightarrow x = \left( {\frac{{350}}{3}} \right) = 116\frac{2}{3} \cr & {\text{So, cost of the other brand}} \cr & = {\text{Rs}}{\text{. }}116.66 \cr} $$
72
A milkman cheats his customer in two ways. He mixes 10% water in pure milk and increases the price of milk by 10% . He purchases 20 kg pure milk at a rate of Rs. 15 per kg. His total profit by selling it is -
Discuss
Answer & Solution
Answer: Option B
Solution:
C.P. of 20 kg milk = Rs. (20 × 15) = Rs. 300
Quantity of water added = 10% of 20 kg = 2 kg
S.P. of 1 kg mixture = 110% of Rs. 15 = Rs. 16.50
S.P. of 22 kg mixture = Rs. (22 × 16.50) = Rs. 363
Profit = Rs. (363 - 300) = Rs. 63
73
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 D
Solution:
According to the question,
Cost Price : Marked Price
(100 - Discount)   :   (100 + Profit)
100 - 10 : 100 + 12
90 : 112
45 : 56 Answer
74
A tradesman allows a discount of 15% on the marked price. How much above the cost price must he mark his goods as to gain 19% ?
Discuss
Answer & Solution
Answer: Option B
Solution:
According to the question,
Cost Price : Marked Price
(100 - Discount)   :   (100 + Profit)
100 - 15 : 100 + 19
85 : 119
34 units more

$$\eqalign{ & {\text{Raised}}\% = \frac{{34}}{{85}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 40\% \cr} $$
75
A shopkeeper allows 23% commission on his advertised price and still makes a profit of 10% . If he gains Rs. 56 on one item, his advertised price of the item, in Rs. is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Advertised price of the item = N
∴ Commission on advertised price of the article = $$\frac{{N \times 23}}{{100}}$$
Price after commission = $$N - \frac{{23N}}{{100}} = \frac{{77N}}{{100}}$$
$$\eqalign{ & \therefore {\text{CP}}\,{\text{of}}\,{\text{the}}\,{\text{item}} \cr & \frac{{\frac{{77N}}{{100}} \times 100}}{{100 + 10}} \cr & = \frac{{77N}}{{110}} \cr & = \frac{{7N}}{{10}} \cr & {\text{Profit}} = \frac{{77N}}{{110}} - \frac{{7N}}{{10}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{7N}}{{110}} \cr & \Rightarrow 56 = \frac{{7N}}{{110}} \cr & \therefore N = \frac{{56 \times 100}}{7} = 800 \cr} $$
76
A fruit seller professes to sell his fruits at cost price, but still gains 25% on his outlay. What weight does he substitute for a kilogram ?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{Let error}} = x{\text{ gms}}{\text{.}} \cr & {\text{Then,}} \cr & = \frac{x}{{1000 - x}} \times 100 = 25 \cr & \Leftrightarrow \frac{{100x}}{{1000 - x}} = 25 \cr & \Leftrightarrow 100x = 25000 - 25x \cr & \Leftrightarrow 125x = 25000 \cr & \Leftrightarrow x = 200 \cr & \therefore {\text{Weight used}} \cr & = (1000 - 200){\text{gms}} \cr & = {\text{800 gms}}. \cr} $$
77
A shopkeeper cheats to the extent of 10% while buying as well as selling, by using false weights. His total gain is -
Discuss
Answer & Solution
Answer: Option D
Solution:
$$\eqalign{ & {\text{Rule}}:{\text{Gain}}\% \cr & = \frac{{{{\left( {100 + {\text{common gain}}\% } \right)}^2}}}{{100}} - 100 \cr & \therefore {\text{Gain }}\% \cr & = \left[ {\frac{{{{\left( {100 + 10} \right)}^2}}}{{100}} - 100} \right]\% \cr & = \left( {\frac{{12100 - 10000}}{{100}}} \right)\% \cr & = 21\% \cr} $$
78
How much percent above the cost price should a shopkeeper marks his goods so as to earn a profit of 32% after allowing a discount of 12% on the marked price = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
According to the question,
Cost Price : Marked Price
(100 - Discount%)   :   (100 + Profit%)
100 - 12 : 100 + 32
88 : 132
44 units hike

$$\eqalign{ & \therefore {\text{Hike}}\% = \frac{{44}}{{88}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 50\% \cr} $$
79
A dealer purchased a washing machine for Rs. 7660. After allowing a discount of 12% on its marked price, he still gains 10% . Find the marked price of the washing machine = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
According to the question,
Cost Price : Marked Price
(100 - Discount)   :   (100 + Profit)
100 - 12 : 100 + 10
88 : 110
$$\mathop {\frac{{1915}}{{22}} \times \downarrow }\limits_{{\text{Rs}}{\text{.7660(Cost Price)}}} :\mathop { \downarrow \times \frac{{1915}}{{22}}}\limits_{\boxed{{\text{Rs}}{\text{.9575(MP)}}}} $$
80
A publisher printed 2000 copies of a book at a cost of Rs. 70000. He distributes 400 copies free as specimen copies. He gave 30% discount on marked price of each book which is Rs. 75. What is his gain or loss percentage = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
According to the question,
Cost price of 2000 books are = Rs. 70000
Cost price of 1 book is $$ = \frac{{70000}}{{2000}} = {\text{Rs}}{\text{. 35}}$$
Marked price of 1 book is = Rs. 75
Discount = 30%
Selling price of 1 book = Rs. 52.5
He distribute 400 books free
Selling price of 1600 books = 52.5 × 1600
= Rs. 84000
Profit = Selling price - Cost price
= 84000 - 70000
= Rs. 14000
$$\eqalign{ & {\text{Profit }}\% = \frac{{14000}}{{70000}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 20\% {\text{ gain}} \cr} $$