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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-4

Each section contains 100 MCQs on Profit and Loss .
81
Oranges are bought at 5 for Rs. 10 and sold at 6 for Rs. 15. The gain percentage is = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the (LCM of 5 and 6 = 30) oranges be bought.
$$\eqalign{ & \therefore {\text{CP of 30 oranges}} \cr & = \frac{{10}}{5} \times {\text{30}} \cr & = {\text{Rs}}{\text{. 60}} \cr & {\text{Their Selling price}} \cr & = \frac{{15}}{6} \times 30 \cr & = {\text{Rs}}{\text{. 75}} \cr & {\text{Profit}} = {\text{Rs}}{\text{.}}\left( {{\text{75}} - {\text{60}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. 15}} \cr & \therefore {\text{Profit percent}} \cr & = \left( {\frac{{15}}{{60}}} \right) \times 100 \cr & = 25\% \cr} $$
82
A dealer marks a washing machine for Rs. 7500, and allows a discount of 6% on it. Find the selling price ?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$6\% = \frac{{3 \leftarrow {\text{Discount}}}}{{50 \leftarrow {\text{Marked price}}}}$$
Selling price = 50 - 3 = 47
Marked price → 50 units = Rs. 7500
So, Selling price → 47 units = Rs. 7050
83
The marked price of an article is 30% higher than the cost price. If a trader sells the articles allowing 10% discount to customer, then the gain percent will be = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
\[\begin{gathered} {\text{CP }}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{SP }}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ MP}} \hfill \\ 100\,\,\xrightarrow[{{\text{Profit}}}]{}\,\,117\,\,\xleftarrow[{ - 20\% }]{}\,\,\,\,130 \hfill \\ \end{gathered} \]
$$\eqalign{ & {\text{Now profit }}\% \cr & = \frac{{117 - 100}}{{100}} \times 100 \cr & = 17\% \cr} $$
84
A merchant marked the price of an article by increasing its production cost by 40%. Now he allows 20% discount and gets a profit of Rs. 48 after selling it. The production cost is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
\[\begin{gathered} {\text{CP }}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{SP}}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ MP}} \hfill \\ 100\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,112\,\,\xleftarrow[{ - 20\% }]{}\,\,\,\,140 \hfill \\ \end{gathered} \]
$$\eqalign{ & {\text{Profit}} = 112 - 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 12{\text{units}} \cr & {\text{12 units}} = {\text{ Rs}}{\text{.}}\,{\text{48}} \cr & {\text{1 unit}} = {\text{Rs}}{\text{.}}\,{\text{4}} \cr & {\text{So, CP}} = {\text{100 units}} = {\text{Rs}}{\text{.400}} \cr} $$
85
A dealer marked the price of an item 40% above the cost price. He allowed two successive discounts of 20% and 25% to a particular customer. As a result he incurred a loss of Rs. 448. At what price did he sell the item to the said customer?
Discuss
Answer & Solution
Answer: Option B
Solution:
Let the cost price be Rs. 100
Then, CP = 100 means MP = 140
20% discount = 112 25% discount (SP = Rs. 84)
If Rs. 16 loss, cost price Rs. 100
If Rs. 448 loss, cost price = $$\frac{{100}}{{16}} \times 448$$
= 28 x 100 = Rs. 2800
Selling Price = $$\frac{{2800 \times 84}}{{100}}$$   = Rs. 2352
86
The marked price is 10% higher than the cost price. A discount of 10% is given on the marked price. In this kind of sale, the seller = ?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the cost price of article be Rs. 100
∴ Marked price = Rs. 110
Discount % on marked price = 10%
$$\eqalign{ & {\text{Selling price}} \cr & = \frac{{110 \times 90}}{{100}} \cr & = Rs.99\,\,i.e.,1\% \,\,loss \cr} $$
87
A shopkeeper allows 25% discount on his advertised price and to make a profit 25% on his outlay. What is the advertised price (in Rs.) on which he gains Rs. 6000?
Discuss
Answer & Solution
Answer: Option B
Solution:
$${\text{Let Cost price}} = 100$$
\[\begin{gathered} {\text{CP }}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{SP}}\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ MP}} \hfill \\ 100\,\,\xrightarrow[{{\text{Profit}}}]{}\,\,125\,\,\xleftarrow[{ - 25\% }]{}x \hfill \\ \end{gathered} \]
$$\eqalign{ & {\text{Profit}} = 125 - 100 = 25{\text{ units}} \cr & {\text{MP}} = x = \frac{{75}}{{100}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 125 \cr & {\text{MP}} = x = \frac{{500}}{3}{\text{ units}} \cr & \because {\text{ 25 units}} = 6000 \cr & \therefore {\text{MP}} = \frac{{500}}{3}{\text{ units}} \cr & {\text{ = }}\frac{{500}}{3} \times \frac{{6000}}{{25}} \cr & = {\text{Rs}}{\text{.}}\,40000 \cr} $$
88
Due to 25% fall in the rate of eggs one can buy 2 dozen eggs more than before by investing Rs. 162. The the original rate per dozen of the eggs is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
25% fall we get 2 dozen eggs extra
∴ 25% = 2 dozen
100% = 8 dozen (new quantity)
So, old quantity = 8 - 2 = 6 dozen
$${\text{Rate}} = \frac{{162}}{6} = {\text{Rs}}{\text{. }}27$$
89
Last year Mr. A bought two paintings. This year he sold them for Rs. 20000 each. On one, he made a 25% profit and of the other he had a 25% loss. Then his net profit or loss is = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$25\% = \frac{1}{4}$$
   Cost Price   Selling Price   Profit/Loss 
I   4x3 5x3 3
II   4x5 3x5 -5

[ Selling price are same ]
Selling price = 15 units, (Profit / Loss)
= 3 - 5 = -2 units (loss)
∴ 15 unit = 20000 (Selling price)
$$\eqalign{ & 1{\text{ unit}} = \frac{{20000}}{{15}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 1333.33 \cr} $$
Loss = 2 units = 1333.33 × 2 = 2666.66
So, loss more than Rs. 2000
90
The profit earned by selling a article at Rs. 5520 is equal to the loss incurred on selling the same article at Rs. 4080. What will be percent profit, if the article is sold at Rs. 6000?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{Cost price of article}} \cr & = {\text{Rs}}{\text{.}}\left( {\frac{{5520 + 4080}}{2}} \right) \cr & = {\text{Rs}}{\text{.}}\frac{{9600}}{2} \cr & = {\text{Rs}}{\text{. 4800}} \cr & {\text{When selling price}} \cr & = {\text{Rs}}{\text{. 6000 then}} \cr & {\text{Profit}} = {\text{Rs}}{\text{.}}\left( {6000 - 4800} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. 1200}} \cr & \therefore {\text{Profit percent}} \cr & = \frac{{1200}}{{4800}} \times 100 \cr & = 25\% \cr} $$