Profit And Loss(Quantitative Aptitude ) Questions and answers for exam Preparation

Quantitative Aptitude

PROFIT AND LOSS MCQs

Profit & Loss

Total Questions : 2016 | Page 10 of 202 pages

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:

No profit, no loss
5%
8%
10%
None of these

Discuss Question

Answer: Option B. -> 5%
- 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 92.

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?

2 : 7
5 : 2
7 : 2
Data inadequate
None of these

Discuss Question

Answer: Option D. -> Data inadequate
- Let C.P.- Rs.5x and S.P. = Rs. 7x Then, gain = Rs. 2x
Required ratio = 2x:5x= 2:5

Question 93.

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 :

40
100
120
140
None of these

Discuss Question

Answer: Option D. -> 140
- 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 94.

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?

200
300
400
500
None of these

Discuss Question

Answer: Option C. -> 400
- 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 95.

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%?

48.6%
49.6%
50.6%
52.6%
None of these

Discuss Question

Answer: Option B. -> 49.6%
- 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 96.

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%?

35%
40%
45%
55%
None of these

Discuss Question

Answer: Option B. -> 40%
- 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 97.

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?

8%
10%
12%
15%
None of these

Discuss Question

Answer: Option B. -> 10%
- 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 98.

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:

20%
22.5%
25%
27.5%
None of these

Discuss Question

Answer: Option C. -> 25%
- 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 99.

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?

Rs 12,000
Rs 13,000
Rs 14,000
Rs 15,000
None f these

Discuss Question

Answer: Option B. -> Rs 13,000
- 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 100.

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:

25%
35.3%
37.5%
42.5%
None of these

Discuss Question

Answer: Option B. -> 35.3%

- 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%

Detailed Solution:
Definition of Profit:
Profit is the difference between the amount realized from the sale of goods or services and the cost incurred in producing them.

Calculation of Profit:
To calculate the profit made by the person in the given transaction, we need to determine the total cost and the total amount realized from the sale of cream and toned milk.

Total Cost:
The total cost incurred by the person in the given transaction can be calculated as follows:

Total Cost = Cost of 20 liters of Milk + Cost of churning
= 20 x 8 + 10
= Rs. 180

Total Amount Realized:
The total amount realized from the sale of cream and toned milk can be calculated as follows:

Total Amount Realized = Sale of 5 kg of Cream + Sale of 20 liters of Toned Milk
= 5 x 30 + 20 x 4
= Rs. 250

Profit:
Now, the profit made by the person in the given transaction can be calculated as follows:

Profit = Total Amount Realized - Total Cost
= 250 - 180
= Rs. 70

Profit Percentage:
The profit percentage made by the person in the given transaction can be calculated as follows:

Profit Percentage = (Profit / Total Cost) x 100
= (70 / 180) x 100
= 35.3 %

Hence, the correct answer is Option B (35.3%)