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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-5

Each section contains 100 MCQs on Profit and Loss .
1
Sanjay made a profit of 8% by selling a shirt after offering a discount of 12%. If the marked price of the shirt is Rs. 1080, find cost price = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & {\text{Marked price of shirt}} \cr & = {\text{Rs}}{\text{.1080}} \cr & {\text{Selling price of shirt}} \cr & = {\text{Rs}}{\text{.1080}} - \frac{{1080 \times 12}}{{100}} \cr & = {\text{Rs}}{\text{.}}\left( {1080 - 129.60} \right) \cr & = {\text{Rs}}.950.40 \cr & {\text{Let CP of shirt is Rs}}{\text{. }}x \cr & \therefore x + \frac{{x \times 8}}{{100}} = 950.40 \cr & \Rightarrow \frac{{108x}}{{100}} = 950.40 \cr & \Rightarrow x = 950.40 \times \frac{{100}}{{108}} \cr & \Rightarrow x = {\text{Rs}}{\text{. }}880 \cr} $$
2
A book seller allowed 10% discount on printed price. He gets 30% commission from publisher. His profit in percent will be?
Discuss
Answer & Solution
Answer: Option B
Solution:
Let the marked price be of book be Rs. 100
Cost price of the retailer = Rs. (100 - 30) = Rs. 70
Selling price for the retailer = Rs. 90
∴ Profit percent
$$\eqalign{ & = \left( {\frac{{90 - 70}}{{70}}} \right) \times 100 \cr & = \left( {\frac{{20}}{{70}}} \right) \times 100 \cr & = \frac{{200}}{7} \cr & = 28\frac{4}{7}\% \cr} $$
3
A shopkeeper increases the price of an object by 40% and then sells it at 25% discount on the marked price. If the selling price of such an object be Rs. 2100, its cost price for the shopkeeper was?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let cost price of the article is 100
So, marked price = 140% of 100
$$ = \frac{{140}}{{100}} \times 100 = 140$$
Now, give 25% discount
So, Selling price
$$\eqalign{ & = 140 - 25\% {\text{ of 140}} \cr & = 140 - \frac{1}{4} \times 140 = 105 \cr & 105 \to 2100 \cr & 1 \to 20 \cr & 100 \to 20 \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}2000 \cr} $$
4
By what fraction selling price must be multiplied to get the cost price, if the loss is 20% = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
$$\eqalign{ & \% {\text{ Loss }} = 20\% \cr & 20\% = \frac{1}{5} \cr} $$
It Cost price = 5 units
Loss = 1 units
Selling price = 5 - 1 = 4 units
Selling price = 4
we make it equal to Cost price that is (5)
So, we multiply Selling price by
$$\eqalign{ & = \frac{5}{4} \cr & {\text{Selling price}} = 4 \times \frac{5}{4} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 5{\text{ }} \cr} $$
5
The sale price of an article including the sales tax is Rs. 1232. The rate of sales tax is 10%. If the shopkeeper has made a profit of 12%, then the cost price of the article is = ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Let the cost price of article be Rs. x
Profit = 12%
Rate of sales tax = 10%
Sale price of an article including sales tax = Rs. 1232
According to the question,
$$\eqalign{ & \Rightarrow \frac{{112x}}{{100}} + \frac{{112x \times 10}}{{10000}} = 1232 \cr & \Rightarrow \frac{{1120x + 112x}}{{1000}} = 1232 \cr & \Rightarrow 1232x = 1232 \times 1000 \cr & \Rightarrow x = {\text{Rs}}{\text{. }}1000 \cr} $$
6
Meena Kumari goes to a shop and buys a saree, costing Rs. 5225, including sales tax of 12%. The shopkeeper gives her a discount, so that the price is decreased by an amount equivalent to sales tax. The price is decreased by ( nearest value) ?
Discuss
Answer & Solution
Answer: Option C
Solution:
Price of the saree including sales tax = Rs. 5225
Cost price without sales tax
$$\eqalign{ & = \frac{{5225}}{{112}} \times 100 \cr & = 4665 \cr & {\text{The price decreased}} \cr & = {\text{Rs}}{\text{.}}\left( {5225 - 4665} \right) \cr & = {\text{Rs}}{\text{. }}560 \cr} $$
7
Ramesh sold a book at a loss of 30%. If he has sold it for Rs. 140 more, he would have made a profit of 40%. The cost price of the book is = ?
Discuss
Answer & Solution
Answer: Option B
Solution:
$$\eqalign{ & {\text{Loss}} = 30\% \cr & {\text{Let}}\,{\text{CP}} = x \cr & {\text{Loss}}\% = \frac{{{\text{CP}} - {\text{SP}}}}{{{\text{CP}}}} \times 100 \cr & \Rightarrow \frac{{30}}{{100}} = \frac{{x - {\text{SP}}}}{x} \cr & \Rightarrow 3x = 10x - 10{\text{SP}} \cr & \Rightarrow 7x = 10{\text{SP}} \cr & \Rightarrow {\text{SP}} = \frac{7}{{10}}x \cr & {\text{If}}\,{\text{SP}} = 140\,{\text{more}}\, = \frac{7}{{10}}x + 140 \cr & {\text{the}}\,{\text{profit}} = 40\% \cr & \Rightarrow \frac{{40}}{{100}} = \frac{{\frac{7}{{10}}x + 140 - x}}{x} \cr & \Rightarrow \frac{2}{5} = \frac{{1400 - 3x}}{{10x}} \cr & \Rightarrow 4x = 1400 - 3x \cr & \Rightarrow 7x = 1400 \cr & \Rightarrow x = 200 \cr & {\text{So,}}\,{\text{CP}} = {\text{Rs}}{\text{.}}\,200 \cr} $$
8
A sells a watch to B and makes a loss of 12%. B makes a profit of $$12\frac{1}{2}$$% by selling the watch to C. If A sells the watch to be at the cost of which C purchased it, then the percentage of loss or profit of A will be = ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Let the CPA of Watch = 100
∴ SPA to B = 100 - 12% of 100 = 100 - 12 = 88
AND SPB to C = 88 + $$12\frac{1}{2}$$% of 88 = 88 + 11 = 99
If A sold the direct to C at price of B sold to C.
A got loss = 100 - 99 = 1
% loss $$= \frac{1}{{100}} \times 100 = 1\% $$
9
Supriya sold a washing machine for Rs. 8500. She incurred a loss of 15% in this transaction. At what price had she bought the washing machine ?
Discuss
Answer & Solution
Answer: Option A
Solution:
Selling price of washing machine = Rs. 8500
Loss % = 15%
Cost price of washing machine
$$\eqalign{ & = {\text{Rs}}{\text{.}}\left( {\frac{{100}}{{85}} \times 8500} \right) \cr & = {\text{Rs}}{\text{.10000}} \cr} $$
10
The price of an article is first increased by 20% and later on decreased by 25% due to reduction in sales. Find the net percentage change in final price of the article?
Discuss
Answer & Solution
Answer: Option D
Solution:
Let the price of article is Rs. 100
First increase % = 20%
After increase, price of article
$$\eqalign{ & = 100 \times \frac{{120}}{{100}} \cr & = {\text{Rs}}{\text{.120 }} \cr} $$
Second decrease % = 25%
After decrease, price of article
$$\eqalign{ & = 120 - \frac{{120 \times 25}}{{100}} \cr & = {\text{Rs}}{\text{. }}90 \cr} $$
Net change percent in price
$$\eqalign{ & = \frac{{100 - 90}}{{100}} \times 100 \cr & = \frac{{10}}{{100}} \times 100 \cr & = 10\% \cr} $$