Profit And Loss Questions MCQs


Profit and Loss Questions
Question 1.

A shopkeeper gives 12% additional discount on the discounted price, after giving an initial discount of 20% on the labeled price of a radio. If the final sale price of the radio is 704. then what is its labelled price?

Options:
  1.    Rs 844.80
  2.    Rs 929.28
  3.    Rs 1000
  4.    Rs 1044.80
  5.    None of these
Answer: Option C
 -  Let the labeled price be Rs. x

88% of 80% of x = 704

=> x = (704 x 100 x 100/88 x 80)

= 1000.
Question 2.

A fan is listed at Rs. 1500 and a discount of 20% is offered on the list price .What additional discount must be offered to the customer bring the net price to Rs. 1104?

Options:
  1.    8%
  2.    10%
  3.    12%
  4.    15%
  5.    None of these
Answer: Option A
 -    S.P after 1st discount = Rs.(80/100 x 1500) = Rs.1200.

  Net S.P = Rs. 1104.

  Discount on Rs. 1200 = Rs. 96.

  ∴Required discount  = (96/1200 x 100)% =8%
Question 3.

A discount of 15% on one article is same as a discount  of 20% on another article .The costs of  two article can be:

Options:
  1.    Rs 40, Rs 20
  2.    Rs 60, Rs 40
  3.    Rs 80, Rs 60
  4.    Rs 60, Rs 40
  5.    None of these
Answer: Option C
 -    Let the costs of the two articles be x and y. Then,

  15% of x = 20% of y

  => x/y = 20/15 = 4/3

  So,x and y must be in the ratio of 4:3
Question 4.

If the S.P of Rs.24 results in a 20% discount on list price. What S.P would result in a 30% discount on list price?

Options:
  1.    Rs 18
  2.    Rs 20
  3.    Rs 21
  4.    Rs 27
  5.    None of these
Answer: Option C
 -    Let the list price be Rs. x

  80/100x = 24

  => x = 24 x 100/80 = 30        

  ∴ Required S.P. = 70% of Rs. 30

  =Rs.21.
Question 5.

Jatin bought a refrigerator with 20% discount on the labeled price. Had he bought at it with 25% discount, he would have saved Rs. 500. At what price did he buy the refrigerator?

Options:
  1.    Rs 5000
  2.    Rs 10,000
  3.    Rs 12,500
  4.    Rs 15,000
  5.    None of these
Answer: Option B
 -    Let the labelled price be Rs.x Then,

  (80% of x)- (75% of x) = 500  

  5% of x =500

  x = (500 x 100/5) = 10000
Question 6.

The marked price of a watch was Rs. 720.A man brought the same for Rs.550.80 after getting two successive discounts the first being 10% .What was the second discount rate?

Options:
  1.    12%
  2.    14%
  3.    15%
  4.    18%
  5.    None of these
Answer: Option C
 -    Let the second discount rate be x% Then,

  (100 – x)% of 90% of 720 = 550.80

  => (100 – x)/100 x 90/100 x 720 = 550.80

  =  (100-x) = [55080/(9 x 72) = 85

  => x= 15

  second discount rate =15%
Question 7.

When a commodity is sold for Rs.34.80, there is a loss of 2%. What is the cost price of the commodity?

Options:
  1.    Rs 26.10
  2.    Rs 43
  3.    Rs 43.20
  4.    Rs 46.40
  5.    None of these
Answer: Option D
 -    C.P.= Rs. (100/75 x 34.80)

  =Rs. 46.40.
Question 8.

The sale price of an article including the sale tax is Rs. 616. The rate of sale tax is 10% . If the shopkeeper has made a profit of 12%, the cost price of the article is:

Options:
  1.    Rs 500
  2.    Rs 515
  3.    Rs 550
  4.    Rs 600
  5.    None of these
Answer: Option A
 -    110% of S.P. = 616

  = S.P. = Rs.(616 x 100/110) = Rs.560.

  C.P. = Rs (100/112 x 560)

  = Rs 500
Question 9.

A person bought 20 liters of milk at the rate of Rs.8 per liter. He got it churned after spending Rs.10 and 5kg of cream and 20 liter of toned milk were obtained. If he sold the cream at Rs.30 per kg and toned milk at Rs.4 per liter, his profit in the transaction is:

Options:
  1.    25%
  2.    35.3%
  3.    37.5%
  4.    42.5%
  5.    None of these
Answer: Option B
 -    Investment =Rs.(20 x 8 + 10) = Rs.170

  Receipt = Rs. (30 x 5 + 20 x 4)  = Rs.230.

  Gain% = (60/170 x 100)%  = 35.29% 

  =35.3%
Question 10.

A manufacture undertakes to supply 2000 pieces of a particular component at Rs.25 per piece. According to his estimates, even if 5% fail to pass the quality tests, then he will make a profit of 25%. However as it turned out, 50% of the components were rejected. What is the loss to the manufacture?

Options:
  1.    Rs 12,000
  2.    Rs 13,000
  3.    Rs 14,000
  4.    Rs 15,000
  5.    None f these
Answer: Option B
 -    Total cost incurred = Rs.[100/125 x 25 x (95%of 2000) ]

  Rs.(100/125 x 25 x 1900)= Rs.38000

  Loss to the manufacture = Rs [35000-(25 x 1000)]- Rs. 13000
Question 11.

A trader buys a chair for Rs. 600 and sells it for Rs765 at a credit of 4 months. Reckoning money worth 6% p.a. His gain percent is:

Options:
  1.    20%
  2.    22.5%
  3.    25%
  4.    27.5%
  5.    None of these
Answer: Option C
 -    C.P. = 600 + (600 x 6 x 4/100 x 12) = Rs 612 gain Rs (765-612) = Rs.153.

  Gain% = (153/612 x 100)%

  = 25%

Question 12.

A retailer buys 40 pens at the marked price of 36 pens from a wholesaler. If he sells these pens giving a discount of 1%, what is the profit percentage?

Options:
  1.    8%
  2.    10%
  3.    12%
  4.    15%
  5.    None of these
Answer: Option B
 -    Let the marked price of each pens be Rs.1

  Then, C.P. of 40 pens = Rs 36 S.P. of 40 pens = 99% of Rs.40 =Rs.39.60

  .:  profit % (3.60/36 x 100)% =10%
Question 13.

At what percentage above the C.P. must an article be marked so as to gain 33% after allowing a customer a discount of 5%?

Options:
  1.    35%
  2.    40%
  3.    45%
  4.    55%
  5.    None of these
Answer: Option B
 -    Let C.P. = Rs. 100 Then, S.P. = Rs= 133.

  Let marked price be Rs. x

  Then, 95% of x = 133

  = 95 x /100 = 133

  = (133 x 100/95)=140
 
  Marked price = 40% above C.P.
Question 14.

When a producer allows 36% commission on the retail price of his product, he earns of 8.8%. What would be his profit percent if the commission is reduced by 24%?

Options:
  1.    48.6%
  2.    49.6%
  3.    50.6%
  4.    52.6%
  5.    None of these
Answer: Option B
 -    Let retail price = Rs. 100 Then, commission = Rs.36

  S.P. = Rs. (100-36) = Rs. 64

  But, profit =8.8%

  C.P. = Rs.(100/108.8 x 64) = Rs 1000/17

  Now commission = Rs.12 New S.P.= Rs. (100-12) = Rs.88.

  Gain = Rs.(88-1000/17) = Rs. 496/17

  Gain% = (496/17 x 17/1000 x 100)% = 49.6%
Question 15.

A trade man sold an article at a loss of 20 % . If the selling price had been increased by Rs.100, there would have been a gain of 5%. What was the cost price of the article?

Options:
  1.    200
  2.    300
  3.    400
  4.    500
  5.    None of these
Answer: Option C
 -    Let C.P.be Rs.x. Then, (150%of x) –(80% of x) = 100

  or 25% of x = 100

  x/4 = 100  or  x = 400

  So, C.P.=Rs.400

Question 16.

A man gain 20% by selling  an article for a certain price. If he sells It he sells it at double the price the percentage of profit will be :

Options:
  1.    40
  2.    100
  3.    120
  4.    140
  5.    None of these
Answer: Option D
 -    Let C.P. = Rs.a Then , S.P. = Rs.(120%of a) = Rs. 6a/5
     
  New S.P. = Rs (2x 6a/5) = Rs.12a/5, Profit = Rs (12a/5 - a)

  = Rs. 7a/5

  Profit % = (7a/5 x 1/a x100)% = 140%
Question 17.

The ratio between the sale price and the cost price of an article is 7:5. What is the ratio between the profit and the cost price of the article?

Options:
  1.    2 : 7
  2.    5 : 2
  3.    7 : 2
  4.    Data inadequate
  5.    None of these
Answer: Option D
 -    Let C.P.- Rs.5x and S.P. = Rs. 7x  Then, gain = Rs. 2x

  Required ratio = 2x:5x= 2:5

Question 18.

A trade mixes 26 kg of rice at Rs.20 per kg with 30 kg of  other of variety at Rs. 36 per kg and sell the mixture at Rs.30 per kg. His profit percent is:

Options:
  1.    No profit, no loss
  2.    5%
  3.    8%
  4.    10%
  5.    None of these
Answer: Option B
 -    C.P. of 56 kg rice = Rs(26 x 20 + 30 x 36) = Rs.(520+1080) = Rs. 1600

  S.P. of 56 kg. rice = Rs (56 x 30) = Rs.  (56 x 30)  = Rs.1680

  Gain= (80/1600 x 100)% =5%
Question 19.

The ratio of the cost price and the selling price is 4:5. The profit percent is:

Options:
  1.    10%
  2.    20%
  3.    25%
  4.    30%
  5.    None of these
Answer: Option C
 -    Let C.P. = Rs. 4x Then, S.P. = Rs. 5x
 
  Gain = Rs. (5x - 4x) = Rs.x

  Gain% = (x/4x) 100% =25%
Question 20.

A property dealer sells a house for Rs.6,30,000 and in the bargain makes a profit of 5% .Had he sold it for Rs.5,00,000 then what percentage of loss or gain he would have made?

Options:
  1.    2 1/4% gain
  2.    10% loss
  3.    12 1/2% loss
  4.    16 2/3% loss
  5.    None of these
Answer: Option D
 -    C.P. = Rs(100/105 x 630000) = Rs. 6,00,000

  Required loss% = (100000/600000 x 100)%  = 16 (2/3)%

Total Items 107  |  Page 1 of 6