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Quantitative Aptitude

PROFIT AND LOSS MCQs

Profit & Loss

Total Questions : 2016 | Page 2 of 202 pages
Question 11.

  1. A student calculates profit percentage on the selling price instead of calculating it on the cost price of an article. The selling price of the article is Rs 312.50. If the actual profit is 20%, the profit calculated by him is

  1.    \(15\frac{2}{3}\)%
  2.    \(16\frac{2}{3}\)%
  3.    \(17\frac{2}{3}\) %
  4.    none of these
 Discuss Question
Answer: Option B. -> \(16\frac{2}{3}\)%
Question 12.
  1. By selling 11 articles I gain the selling price of one article. The gain % is

  1.    1%
  2.    10%
  3.    11%
  4.    12%
 Discuss Question
Answer: Option B. -> 10%

Gain Percentage = (Gain/Cost price) × 100

Given,
Selling Price of 11 articles = Selling Price of 1 article

Let,
Selling Price of 1 article = S

Then, Selling Price of 11 articles = 11S

Cost Price of 1 article = C

Then, Cost Price of 11 articles = 11C

Gain = Selling Price of 11 articles Cost Price of 11 articles
= 11S 11C

Gain Percentage = (Gain/Cost price) × 100
= (11S 11C)/11C × 100
= (11S/11C 1) × 100
= (S/C 1) × 100
= (S C)/C × 100
= (S C)/C × 100
= (S/C 1) × 100
= 10%

Therefore, the gain % is 10%.

If you think the solution is wrong then please provide your own solution below in the comments section .

Question 13.

  1. Cost of 15 pens was recovered by the sale of 12 pens only. The gain percentage is

  1.    20%
  2.    25%
  3.    30%
  4.    noe of these
 Discuss Question
Answer: Option B. -> 25%
Question 14.

  1. A trader marks his goods at 20% above cost price. If he allows his customers 10% discount, how much profit per cent does he make?

  1.    6%
  2.    8%
  3.    10%
  4.    12%
 Discuss Question
Answer: Option B. -> 8%
Question 15.

  1. A trader offers 30% discount on the marked price of an article and yet makes 10% profit. If he gains Rs 140 by selling the article, then what is the marked price of the article?

  1.    Rs 2000
  2.    Rs 2200
  3.    Rs 2400
  4.    Rs 2600
 Discuss Question
Answer: Option B. -> Rs 2200
Question 16.

  1. A trader marks his goods at 30% above cost but is constrained to give a discount of 30% to clear his stock. What is his gain or loss per cent?

  1.    Loss 8 %
  2.    Gain 8 %
  3.    Loss 9 %
  4.    Gain 9 %
 Discuss Question
Answer: Option D. -> Gain 9 %
Question 17.
  1. If the length of a rectangle is increased by 12.5% and the width is decreased by 10% what per cent change occurs in the area?

  1.    1.15 % increase
  2.    1.15 % Decrease
  3.    2.15 % increase
  4.    2.15 % Decrease
 Discuss Question
Answer: Option A. -> 1.15 % increase

Let the width of the rectangle be 'w' and the length be 'l'.
Before the changes, the area of the rectangle = w x l
After the changes, the length of the rectangle is increased by 12.5%, i.e. l' = 1.125l
The width of the rectangle is decreased by 10%, i.e. w' = 0.9w
Therefore, the area of the rectangle after the changes = w' x l'
= 0.9w x 1.125l
= 1.0125wl
Change in the area of the rectangle = (1.0125wl - wl) / wl
= 0.0125
Percentage change in the area of the rectangle = 0.0125 x 100
= 1.15 % Increase

Explanation:
Area of a rectangle = Length x Width
The length of the rectangle is increased by 12.5% and the width is decreased by 10%
Therefore, the Area of the rectangle after the changes = 0.9w x 1.125l
Change in the area of the rectangle = (1.0125wl - wl) / wl
Percentage change in the area of the rectangle = 0.0125 x 100 = 1.15 % Increase

If you think the solution is wrong then please provide your own solution below in the comments section .

Question 18.

  1. When the price of an article was increased by 50 per cent, the number of articles sold fell by 20 per cent. What was the effect on the sales of the shop?

  1.    18 % increase
  2.    18 % decease
  3.    20 % increase
  4.    20 % decease
 Discuss Question
Answer: Option C. -> 20 % increase
Question 19.
  1. An article was sold at a loss of 5%. If it were sold for Rs 30 more, the gain would have been 1.25%. The cost price of the article is

  1.     Rs 460
  2.     Rs 470
  3.     Rs 480
  4.     Rs 490
 Discuss Question
Answer: Option C. ->  Rs 480
Given:
  • The article was sold at a loss of 5%. This means the selling price was 95% of the cost price.
  • If it were sold for Rs 30 more, the gain would have been 1.25%. This means the selling price would have been 101.25% of the cost price.
Using these two pieces of information, we can form two equations:
0.95x = SP1 (Equation 1)1.0125x = SP2 (Equation 2)
where SP1 is the selling price in the first case (sold at a loss of 5%) and SP2 is the selling price in the second case (if sold for Rs 30 more).
We need to find the value of x, which is the cost price of the article.
To solve for x, we can use the following steps:
  • From Equation 1, we can express x in terms of SP1:
x = SP1 / 0.95
  • Substitute the value of x from step 1 into Equation 2:
SP2 = 1.0125 * (SP1 / 0.95)
  • Simplify Equation 2:
SP2 = (1.0125 / 0.95) * SP1
  • We also know that the difference between the two selling prices is Rs 30:
SP2 - SP1 = 30
  • Substitute the value of SP2 from step 3 into Equation 4:
(1.0125 / 0.95) * SP1 - SP1 = 30
  • Simplify Equation 5:
SP1 = 456
  • Substitute the value of SP1 into Equation 1 to find x:
x = SP1 / 0.95 = 480
Therefore, the cost price of the article is Rs 480.
Answer: Option C Rs 480If you think the solution is wrong then please provide your own solution below in the comments section .
Question 20.

  1. A man bought an article and sold it at a loss of 5%. If he had bought it for 10% less and sold it for Rs 15.30 more, he would have made a profit of 15%. The cost price of the article is

  1.    Rs 180
  2.    Rs 200
  3.    Rs 220
  4.    Rs  240
 Discuss Question
Answer: Option A. -> Rs 180

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