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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-4

Each section contains 100 MCQs on Profit and Loss .
71
A shopkeeper sold an article offering a discount of 5% and earned a profit of 23.5% . What would have been the percentage of profit earned if no discount was offered ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let cost price be Rs. 100
Then, Selling Price = Rs. 123.50
Let marked price be Rs. x
Then,
$$\eqalign{ & \frac{{95}}{{100}}x = 123.50 \cr & \Rightarrow x = {\text{Rs}}{\text{.}}\left( {\frac{{12350}}{{95}}} \right) \cr & \Rightarrow x = {\text{Rs}}{\text{.130}} \cr} $$
Now, selling price = Rs. 130
Cost price = Rs. 100
∴ Profit % = 30%
72
A dishonest shopkeeper professes to sell goods at his cost price but uses a false weight of 950 gms, for each kilogram. His gain percentage is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
In this type of question we can find the profit % by
$$\eqalign{ & {\text{ = }}\frac{{{\text{Less quantity}}}}{{{\text{Quantity given to customer}}}} \cr & {\text{According to the question,}} \cr & {\text{Less quantity}} = \left( {1000 - 950} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 50 \cr & {\text{Quantity given to customer}} = 950 \cr & {\text{Profit }}\% = \frac{{50}}{{950}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{100}}{{19}}\% \cr} $$
73
The selling price of 6 bananas is equal to the cost price of 8 bananas. Then the percentage of profit is = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
6 selling price = 8 cost price
$$\eqalign{ & \frac{{{\text{SP}}}}{{{\text{CP}}}} = \left. {\frac{4}{3}} \right)1 \to {\text{Profit}} \cr & {\text{Profit}} = {\text{1}} \cr & {\text{Profit }}\% = \frac{1}{3} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 33\frac{1}{3}\% \cr} $$
74
A fan listed at Rs. 150 with a discount of 20%. What additional discount must be offered to the customer to bring the net price to Rs. 108 ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Selling price after given 20% discount
$$\eqalign{ & = 150 \times \frac{{\left( {100 - 20} \right)}}{{100}} \cr & = 120 \cr & {\text{So,}} \cr & \Rightarrow 120 \times \frac{x}{{100}} = 108 \cr & \Rightarrow x = 90 \cr} $$
∴ Required additional discount = (100 - 90)% = 10%
75
A merchant marks his goods at 25% above the cost price. Due to a slump in the market, his cost reduces by 5%. He thus offers a discount of 8% due to which the sales go up by 25%. Compute the change in the merchant's profit = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the cost price of each article be Rs. 100
and the number of pieces sold be x
Then, original selling price = Rs. 125
Original profit = Rs. [(125 - 100)x] = Rs. 25x
$$\eqalign{ & {\text{New selling price}} \cr & = 92\% {\text{ of Rs}}{\text{. 125}} \cr & = {\text{Rs}}{\text{.}}\left( {\frac{{92}}{{100}} \times 125} \right) \cr & {\text{Rs}}{\text{.}} = {\text{115}} \cr} $$
Number of articles sold now = 1.25x
New profit = Rs. [1.25x (115 - 95)] = Rs. 25x
Hence, the profit remains unchanged.
76
Aditya, a trader, sells an item to a retailer at 20% discount, but charges 10% on the discounted price, for delivery and packaging. The retailer sells it for Rs. 2046 more, thereby earning a profit of 25%. At what price had the trader marked the item ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the marked price of the item be Rs. 100x
Discount % = 20%
Changes for delivery and packaging
= 10% on discounted price
Then,
\[100x\xrightarrow{{ - 20\% }}80x\xrightarrow{{ + 10\% }}88x\]
$$\eqalign{ & \therefore 88x + 88x \times \frac{{25}}{{100}} - 88x = 2046 \cr & \Rightarrow 110x - 88x = 2046 \cr & \Rightarrow 22x = 2046 \cr & \Rightarrow x = 93 \cr & {\text{Hence,}} \cr & 100x = 39 \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = 9300 \cr & \therefore {\text{Marked price}} = {\text{Rs}}{\text{.}}\,{\text{9300}} \cr} $$
77
Cost price of 28 articles is equal to selling price of 21 articles, then percentage of profit is = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
Cost price of 28 articles = Selling price of 21 articles
$$\frac{{{\text{CP}}}}{{{\text{SP}}}} = \frac{{21}}{{28}} = \frac{3}{4}$$
Profit = Selling price - Cost price = 4 - 3 = 1
$$\eqalign{ & {\text{Profit }}\% = \frac{1}{3} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 33\frac{1}{3}\% \cr} $$
78
If the ratio of cost price and selling price be 10 : 11 then find the profit percent ?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & \frac{{{\text{Cost price}}}}{{{\text{Selling price}}}} = \left. {\frac{{10}}{{11}}} \right)1 \cr & {\text{Profit }}\% = \frac{1}{{10}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 10\% \cr} $$
79
If the cost price of 25 pens is equal to the selling price of 20 pens, then profit percent is = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
CP of 25 pens = SP 20 pens
$$\frac{{{\text{CP}}}}{{{\text{SP}}}} = \frac{{20}}{{25}} = \left. {\frac{4}{5}} \right)1 = {\text{Profit}}$$
$$\eqalign{ & {\text{Profit }}\% = \frac{1}{4} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 25\% \cr} $$
80
A box is bought of Rs. 75 and sold at a gain of 8%. Find its selling price = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Cost price of box = Rs. 75
gain% = 8%
Now, required selling price
$$\eqalign{ & = \left( {108\% {\text{ of Rs}}{\text{.75}}} \right) \cr & = {\text{Rs}}{\text{.}}\left( {\frac{{75 \times 108}}{{100}}} \right) \cr & = {\text{Rs}}{\text{.81}} \cr} $$