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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-9 section-3

Each section contains 100 MCQs on Profit and Loss .
81
Raghavan purchased a scooter at $$\frac{{13}}{{15}}$$ of its selling price and sold it at 12% more than its selling price. His gain is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
$$\eqalign{ & {\text{According to the question,}} \cr & {\text{Cost price}} = \frac{{13}}{{15}}{\text{ Selling price}} \cr & \frac{{{\text{Cost price}}}}{{{\text{Selling price}}}} = \frac{{13}}{{15}} \cr} $$
If they sold 12% more then its, old selling price.
So, new selling price is
$$\eqalign{ & = 15 + \frac{{12}}{{100}} \times 15 \cr & = 16.8 \cr} $$
∴ Profit = Selling price - Cost price
              = 16.8 - 13
              = 3.8
$$\eqalign{ & {\text{Profit }}\% = \frac{{3.8}}{{13}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 29\frac{3}{{13}}\% \cr} $$
82
Two - third of a consignment was sold at a profit of 5% and the remainder at a loss of 2%. If the total profit was Rs. 400. Then the value of the consignment was = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
The best way is to go through option. Consider option (A)
Total profit =
$$\eqalign{ & 15000 \times \frac{2}{3} \times 5\% \cr & = 15000 \times \frac{2}{3} \times \frac{5}{{100}} \cr & = 500 \cr} $$

Total loss =
$$\eqalign{ & 15000 \times \frac{1}{3} \times 2\% \cr & = 15000 \times \frac{1}{3} \times \frac{2}{{100}} \cr & = 100 \cr} $$
Net gain = ( 500 - 100 ) = Rs. 400
Hence: option (A) is correct.
83
A man buys some articles at Rs. P per dozen and sells them at Rs. $$\frac{{\text{P}}}{8}$$ per price. His profit percent is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
According to the question,
Cost price of 12 articles = Rs. P
Selling price of 1 article
$$ = {\text{Rs}}{\text{.}}\frac{{\text{P}}}{8}$$
Selling price of 12 articles
$$\eqalign{ & = \frac{{\text{P}}}{8} \times 12 \cr & = \frac{3}{2}{\text{P}} \cr & {\text{Profit}} = {\text{SP}} - {\text{CP}} \cr} $$
$$\eqalign{ & = \frac{{3{\text{P}}}}{2} - {\text{P}} \cr & = \frac{{3{\text{P}} - 2{\text{P}}}}{2} \cr & = \frac{{\text{P}}}{2} \cr} $$
$$\eqalign{ & \operatorname{Profit} \% = \frac{{\text{P}}}{{\frac{2}{{\text{P}}}}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{1}{2} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 50\% \cr} $$
84
Vanita bought a watch with 25% discount on the selling price. If the watch cost her Rs. 780, What is the original selling price of the watch?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let the original S.P. of the watch be Rs. x.
Then,
$$\eqalign{ & = 75\% {\text{ of }}x = 780 \cr & \Rightarrow x = \left( {\frac{{780 \times 100}}{{75}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = 1040 \cr & = {\text{Rs}}{\text{. }}1040 \cr} $$
85
In a sale, perfume is available at a discount of 15% on the selling price. If the perfume's discounted selling price is Rs. 3675.40, what was the original selling price of the perfume?
Discuss
Answer & Solution
Answer: Option B
Solution:
Let the original S.P. of the perfume be Rs. x.
Then,
$$\eqalign{ & {\text{85}}\% {\text{ of }}x = {\text{3675}}{\text{.40}} \cr & \Rightarrow x{\text{ = }}\left( {\frac{{3675.40 \times 100}}{{85}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\, = 4324 \cr & \,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}4324 \cr} $$
86
By selling an article, a man makes a profit of 25% of its selling price. His profit percent is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
According to the question,
25% of selling price
$$ = \frac{{1 \to {\text{Profit}}}}{{4 \to {\text{Selling price}}}}$$
Cost price = Selling price - Profit
Cost price = 4 - 1
Cost price = 3
$$\eqalign{ & {\text{Profit }}\% \cr & = \frac{{{\text{Profit}}}}{{{\text{Cost price}}}} \times 100 \cr & = \frac{1}{3} \times 100 \cr & = 33\frac{1}{3}\% \cr} $$
87
A cloth merchant sold half of his cloth at 20% profit, half of the remaining cloth at 20% loss and the rest was sold at its cost price. In the total transaction, his gain or loss will be = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & {\text{Let}}\,{\text{CP}}\,{\text{of}}\,{\text{whole}}\,{\text{be}}\,{\text{Rs}}{\text{.}}\,x \cr & {\text{CP}}\,{\text{of}}\,\frac{1}{2}\,{\text{stock}} = {\text{Rs}}{\text{.}}\,\frac{x}{2} \cr & {\text{CP}}\,{\text{of}}\,\frac{1}{4}\,{\text{stock}} = {\text{Rs}}{\text{.}}\,\frac{x}{4} \cr} $$
$${\text{Total }}\,{\text{SP}}$$
$$ = \,\left[ {\left( {120\% \,{\text{of}}\,\frac{x}{2}} \right) + \left( {80\% \,{\text{of}}\,\frac{x}{4}} \right) + \frac{x}{4}} \right]$$
$$\eqalign{ & = \left( {\frac{{3x}}{5} + \frac{x}{5} + \frac{x}{4}} \right) \cr & = {\text{Rs}}{\text{.}}\,\frac{{21x}}{{20}} \cr & {\text{Gain}} = {\text{Rs}}{\text{.}}\,\left( {\frac{{21x}}{{20}} - x} \right) = {\text{Rs}}{\text{.}}\,\frac{x}{{20}} \cr & \therefore {\text{Gain}}\% = \left( {\frac{x}{{20}} \times \frac{1}{x} \times 100} \right)\% \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 5\% \cr} $$
88
The difference between the selling price of an article at a profit of 15% and at a profit of 10% is Rs. 10. The cost price of the article is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let cost price of an article be Rs. x
According to the question,
$$\eqalign{ & x + \frac{{15}}{{100}}x - \left( {x + \frac{{10}}{{100}}x} \right) = 10 \cr & \Rightarrow \frac{{15x - 10x}}{{100}} = 10 \cr & \Rightarrow \frac{{5x}}{{100}} = 10 \cr & \Rightarrow 5x = 1000 \cr & \therefore x = 200 \cr} $$
Hence. cost price of an article is Rs. 200
89
An article was sold for Rs. y after giving a discount of x%. Then, its list price is ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the list price be Rs. z.
$$\eqalign{ & \therefore \left( {100 - x} \right)\% {\text{ of z}} = {\text{y}} \cr & \Rightarrow \left( {\frac{{100 - x}}{{100}}} \right) \times {\text{z}} = {\text{y}} \cr & \Rightarrow {\text{z}} = \left( {\frac{{100{\text{y}}}}{{100 - x}}} \right) \cr} $$
90
Jatin bought a refrigerator with 20% discount on the labelled price. Had he bought it with 25% discount, he would have saved Rs. 500. At what price did he buy the refrigerator ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the labelled price be Rs. x.
Then,
(80% of x) - (75% of x) = 500
⇒ 5% of x = 500
$$\eqalign{ & \Rightarrow x = \left( {\frac{{500 \times 100}}{5}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = 10000 \cr & = {\text{Rs}}{\text{. }}10,000 \cr} $$
∴ Purchase is = 10000 - 20% of 10000
= Rs.8000