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

Quantitative Aptitude

PROFIT AND LOSS MCQs

Profit & Loss

Total Questions : 2016 | Page 197 of 202 pages

Question 1961. If the cost price of 50 articles is equal to the selling price of 40 articles, then the gain or loss percent is?

20% loss
20% profit
10% profit
25% loss
None of these

Discuss Question

Answer: Option E. -> None of these
GIVEN THAT, COST PRICE OF 50 ARTICLE IS EQUAL TO SELLING PRICE OF 40 ARTICLES.
LET COST PRICE OF ONE ARTICLE = RS. 1
SELLING PRICE OF 40 ARTICLES = RS. 50
BUT COST PRICE OF 40 ARTICLES = RS. 40
THEREFORE, THE TRADER MADE PROFIT.PERCENTAGE OF PROFIT = 10/40 * 100 = 25%

Question 1962. If a trader sold two cars each at Rs. 325475 and gains 12% on the first and loses 12% on the second, then his profit or loss percent on the whole is_______?

1.44% loss
14.4% profit
14.4% loss
0%
None of these

Discuss Question

Answer: Option A. -> 1.44% loss
SP OF EACH CAR IS RS. 325475, HE GAINS 12% ON FIRST CAR AND LOSSES 12% ON SECOND CAR.
IN THIS CASE, THERE WILL BE LOSS AND PERCENTAGE OF LOSS IS GIVEN BY = [(PROFIT%)(LOSS%)]/100 = (12)(12)/100 % = 1.44%

Question 1963. Rehman mixed 24 kg of butter at Rs. 150 per kg with 36 kg butter at the rate of Rs. 125 per kg. At what price per kg should he sell the mixture to make a profit of 40% in the transaction?

Rs. 135
Rs. 162
Rs. 189
Rs. 198
None of these

Discuss Question

Answer: Option C. -> Rs. 189
CP PER KG OF MIXTURE = [24(150) + 36(125)]/(24 + 36) = RS. 135
SP = CP[(100 + PROFIT%)/100]
= 135 * [(100 + 40)/100] = RS. 189.

Question 1964. If an article is sold at 19% profit instead of 12% profit, then the profit would be Rs. 105 more. What is the cost price?

Rs. 1505
Rs. 1510
Rs. 1500
Rs. 1490
None of these

Discuss Question

Answer: Option C. -> Rs. 1500
LET THE COST PRICE OF AN ARTICLE BE RS. X.
(19% OF X) – (12% OF X) = 105
19X/100 – 12X/100 = 105 => 7X = 105 * 100
=> X = 1500
COST PRICE = RS. 1500

Question 1965. A person purchased a TV set for Rs. 16000 and a DVD player for Rs. 6250. He sold both the items together for Rs. 31150. What percentage of profit did he make?

30%
35%
40%
45%
None of these

Discuss Question

Answer: Option C. -> 40%
THE TOTAL CP = RS. 16000 + RS. 6250 = RS. 22250 AND SP = RS. 31150
PROFIT(%) = (31150 – 22250)/22250 * 100 = 40%

Question 1966. A shopkeeper loses 15%, if an article is sold for Rs. 102. What should be the selling price of the article to gain 20%?

Rs. 150
Rs. 144
Rs. 138
Rs. 132
None of these

Discuss Question

Answer: Option B. -> Rs. 144
GIVEN THAT SP = RS. 102 AND LOSS = 15%
CP = [100(SP)]/(100 – L%) = (100 * 102)/85 = 20 * 6 = RS. 120.
TO GET 20% PROFIT, NEW SP = [(100 + P%)CP]/100 = (120 * 120)/100 = RS. 144

Question 1967. Raheem bought an old car for Rs. 42000. He spent Rs. 13000 on repairs and sold it for Rs. 64900. What is his profit percent?

14%
16%
18%
22%
None of these

Discuss Question

Answer: Option C. -> 18%
TOTAL CP = RS. 42000 + RS. 13000 = RS. 55000 AND SP = RS. 64900
PROFIT(%) = (64900 – 55000)/55000 * 100 = 18%

Question 1968. A trader sells 85 meters of cloth for Rs. 8925 at the profit of Rs. 15 per metre of cloth. What is the cost price of one metre of cloth?

Rs. 80
Rs. 85
Rs. 90
Rs. 95
None of these

Discuss Question

Answer: Option C. -> Rs. 90
SP OF 1M OF CLOTH = 8925/85 = RS. 105
CP OF 1M OF CLOTH = SP OF 1M OF CLOTH – PROFIT ON 1M OF CLOTH
= RS. 105 – RS. 15 = RS. 90.

Question 1969. The owner of a furniture shop charges his customer 24% more than the cost price. If a customer paid Rs. 8339 for a computer table, then what was the cost price of the computer table?

Rs. 5725
Rs. 5275
Rs. 6275
Rs. 6725
None of these

Discuss Question

Answer: Option D. -> Rs. 6725
CP = SP * (100/(100 + PROFIT%))
= 8339(100/124) = RS. 6725.

Question 1970. A dishonest dealer professes to sell his goods at Cost Price but still gets 20% profit by using a false weight. What weight does he substitute for a kilogram?

855 1/2 grams
833 1/3 grams
833 1/2 grams
875 2/7 grams

Discuss Question

Answer: Option B. -> 833 1/3 grams
IF THE COST PRICE IS RS.100, THEN TO GET A PROFIT OF 20%, THE SELLING PRICE SHOULD BE RS.120.
IF 120KG ARE TO BE SOLD, AND THE DEALER GIVES ONLY 100KG, TO GET A PROFIT OF 20%.
HOW MANY GRAMS HE HAS TO GIVE INSTEAD OF ONE KILOGRAM(1000 GM).
120 GM —— 100 GM
1000 GM —— ?
(1000 * 100)/120 = 2500/3 = 833 1/3 GRAMS.