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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-1 section-4

Each section contains 100 MCQs on Profit and Loss .
1
Two items A and B are sold at a profit of 10% and 15% respectively. If the amount of profit received is the same, then the cost price of A and B may be = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Profit of A = Profit of B (given)
10% A = 15% B
$$\eqalign{ & \frac{{\text{A}}}{{\text{B}}} = \frac{{15}}{{10}} = \frac{3}{2} \cr & {\text{A}}:{\text{B}} = 3:2 \cr} $$
Now with the help of option,
check the ratio of cost price of A and B
Option : C
3000 : 2000
3 : 2
2
A man buys a toy for Rs. 25 and sells it for Rs. 30. His gain percent is = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
According to the question,
Cost price = Rs. 25
Selling price = Rs. 30
Profit = Selling price - Cost price
= 30 - 25
= Rs. 5
$$\eqalign{ & {\text{Profit}}\% = \frac{5}{{25}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 20\% \cr} $$
3
A dealer sold an article at 6% loss. Had he sold it for Rs. 64 more, he would have made a profit of 10%. Then the cost of the article is = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the cost price of the article = Rs. 100x
Loss% = 6%
$$\eqalign{ & {\text{SP}} = 100x \times \frac{{94}}{{100}} = {\text{Rs}}{\text{.}}\,94x \cr & {\text{If}}\,{\text{SP}}\,{\text{is}}\,{\text{Rs}}{\text{.}}\,{\text{64}}\,{\text{more,}} \cr & \Rightarrow {\text{New}}\,{\text{SP}} = {\text{Rs}}{\text{.}}\,\left( {94x + 64} \right) \cr & \Rightarrow {\text{Profit}}\% \cr & \frac{{\left( {94x + 64} \right) - 100x}}{{100x}} \times 100 = 10 \cr & \Rightarrow 64 - 6x = 10x \cr & \Rightarrow 10x + 6x = 64 \cr & \Rightarrow 16x = 64 \cr & \Rightarrow x = \frac{{64}}{{16}} \cr & \therefore x = 4 \cr & \therefore {\text{Cost}}\,{\text{Price}} = 100 \times 4 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,400 \cr} $$
4
After successive discounts of 12% and 5% an article was sold for Rs. 209. What was the original price of the article?
Discuss
Answer & Solution
Answer: Option B
Solution:
Let the original price be Rs. x.
Then,
95% of 88% of x = 209
$$\eqalign{ & \Rightarrow x = \left( {\frac{{209 \times 100 \times 100}}{{95 \times 88}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = 250 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}250 \cr} $$
5
Two stories A and B mark the price of an item identically. A allows 3 successive discounts of 10% each. B allows 10% discount on the list price and a subsequent discount of 19%. Under the circumstances, which of the following is true?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let the M.P. of the item at each of the stories A and B be Rs. 100.
Final price at A = 90% of 90% of 90% of Rs. 100
$$\eqalign{ & = {\text{Rs}}.\left( {\frac{{90}}{{100}} \times \frac{{90}}{{100}} \times \frac{{90}}{{100}} \times 100} \right) \cr & = {\text{Rs}}{\text{. }}72.90 \cr} $$
Final price at B = 81% of 90% of Rs. 100
$$\eqalign{ & = {\text{Rs}}.\left( {\frac{{81}}{{100}} \times \frac{{90}}{{100}} \times 100} \right) \cr & = {\text{Rs}}{\text{. }}72.90 \cr} $$
Hence, the price of the article is same at A and B
6
By selling 4 articles for 1 rupee, a man losses 4%. Had he sold three articles per rupee, the profit would have been = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
Selling price of 4 article = Rs. 1
Loss = 4%
Cost price of 4 articles
$${\text{ = 1}} \times \frac{{100}}{{96}} = \frac{{100}}{{96}}$$
Cost price of 3 articles
$${\text{ = }}\frac{{100}}{{96}} \times \frac{3}{4} = \frac{{75}}{{96}}$$
New selling price of 3 articles = Rs. 1
$$\eqalign{ & {\text{Profit }}\% \cr & = \frac{{\frac{{1 - 75}}{{96}}}}{{\frac{{75}}{{96}}}} \times 100 \cr & = \frac{{21}}{{75}} \times 100 \cr & = 28\% \cr} $$
7
By selling 80 ball pens for Rs. 140 a retailer losses 30%. How many ball pens should he sell for Rs. 104 so as to make a profit of 30% ?
Discuss
Answer & Solution
Answer: Option A
Solution:
$$\eqalign{ & 100x \times \frac{{100 - 30}}{{100}} = 140 \cr & \Rightarrow 70x = 140 \cr & \Rightarrow x = 2 \cr & \therefore {\text{CP}} = 100x \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 100 \times 2 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.}}\,200 \cr & {\text{SP}} = 200 \times \frac{{\left( {100 + 30} \right)}}{{100}} \cr & \,\,\,\,\,\,\,\,\, = 260 \cr & {\text{Now,}} \cr & {\text{Rs}}{\text{.}}\,260 = 80\,{\text{ball}}\,{\text{pens}} \cr & \therefore {\text{Rs}}{\text{.}}\,104 = \frac{{80}}{{260}} \times 104 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 32\,{\text{ball}}\,{\text{pens}} \cr} $$
8
By selling 12 kg of potatoes for 63, a shopkeeper gains 5%. What does his gain or loss percent by selling. 50 kg of the same potatoes for 247.50 ?
Discuss
Answer & Solution
Answer: Option B
Solution:
Selling price of 1 potatoes
$$\eqalign{ & = {\text{Rs}}{\text{.}}\frac{{63}}{{12}} \cr & = {\text{Rs}}{\text{.}}\frac{{21}}{4} \cr & {\text{CP}} \times \frac{{\left( {100 + {\text{P}}} \right)}}{{100}} = {\text{SP}} \cr & {\text{CP}} \times \frac{{105}}{{100}} = \frac{{21}}{4}{\text{ }} \cr & {\text{CP}} = {\text{Rs}}{\text{. 5}} \cr} $$
Gain or loss percent by selling 50 kg of the same potatoes for Rs. 247.50
Cost price of 50 kg potatoes
= 50 × 5
= Rs. 250
Loss = 250 - 247.50 = Rs. 2.50
$$\eqalign{ & {\text{Loss }}\% = \frac{{2.50}}{{250}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 1\% \cr} $$
9
If on a marked price, the difference of selling prices with a discount of 30% and two successive discounts of 20% and 10% is Rs. 72, then the marked price in Rs. is
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the M.P. be Rs. x
Then,
(90% of 80% of x) - (70% of x) = 72
$$\eqalign{ & \Rightarrow \left( {\frac{{90}}{{100}} \times \frac{{80}}{{100}} \times x} \right) - \left( {\frac{{70}}{{100}} \times x} \right) = 72 \cr & \Rightarrow \frac{{72}}{{100}}x - \frac{{70}}{{100}}x = 72 \cr & \Rightarrow \frac{2}{{100}}x = 72 \cr & \Rightarrow x = \left( {\frac{{72 \times 100}}{2}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = 3600 \cr} $$
10
An article is listed at Rs. 900 and two successive discounts of 8% and 8% are given on it. How much would the seller gain or lose, if he gives a single discounts of 16%, instead of two discounts?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Loss}} = {\text{Rs}}.\left[ {\left( {92\% {\text{ of }}92\% {\text{ of }}900} \right)} - {\left( {84\% {\text{ of }}900} \right)} \right] \cr & = {\text{Rs}}.\left[ {\left( {\frac{{92}}{{100}} \times \frac{{92}}{{100}} \times 900} \right) - \left( {\frac{{84}}{{100}} \times 900} \right)} \right] \cr & = {\text{Rs}}.\left( {761.76 - 756} \right) = {\text{Rs}}.5.76 \cr & = {\text{Loss of Rs}}{\text{. }}5.76 \cr} $$