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Quantitative Aptitude

PROFIT AND LOSS MCQs

Profit & Loss

Total Questions : 2016 | Page 5 of 202 pages
Question 41.

  1. A man bought goods \(\frac{1}{3}\) rd of which he sold at a profit of 14%,\(\frac{3}{5}\)th at a profit of 17\(\frac{1}{2}\)% and the remainder at a profit of 20%. The profit % on the whole consignment was

  1.    15%
  2.    15.5%
  3.    16%
  4.    16.5%
 Discuss Question
Answer: Option D. -> 16.5%
Question 42.

  1. A merchant marked his goods at 40% above what he had paid for them. He was able to sell half the goods at their marked price, but to sell the remainder, he had to allow a discount of 10%. His gain per cent is

  1.    31
  2.    33
  3.    35
  4.    37
 Discuss Question
Answer: Option B. -> 33
Question 43.

Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on its repairs. If he sells the scooter for Rs. 5800, his gain percent is:

  1.    \(4\frac{4}{7}\) %
  2.    \(5\frac{5}{11}\) %
  3.    10%
  4.    12%
 Discuss Question
Answer: Option B. -> \(5\frac{5}{11}\) %

Cost Price (C.P.) = Rs. (4700 + 800) = Rs. 5500.


Selling Price (S.P.) = Rs. 5800.


Gain = (S.P.) - (C.P.) = Rs.(5800 - 5500) = Rs. 300.


Gain % =    \(\left(\frac{300}{5500}\times100\right)\) % =  \( 5\frac{5}{11}\)  %

Question 44.

The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

  1.    15
  2.    16
  3.    18
  4.    25
 Discuss Question
Answer: Option B. -> 16

Let C.P. of each article be Re. 1 C.P. of x articles = Rs. x.


S.P. of x articles = Rs. 20.


Profit = Rs. (20 - x).


So, \(\left(\frac{20-x}{x}\times100=25\right)\)


 2000 - 100x = 25x


125x = 2000


 x = 16.

Question 45.

If selling price is doubled, the profit triples. Find the profit percent.

  1.     \(66\frac{2}{3}\) %
  2.    100
  3.     \(105\frac{1}{3}\) %
  4.    120
 Discuss Question
Answer: Option B. -> 100

Let C.P. be Rs. x and S.P. be Rs. y.


Then, 3(y - x) = (2y - x)    y = 2x.


Profit = Rs. (y - x) = Rs. (2x - x) = Rs. x.


So, Profit % =  \(\left(\frac{x}{x}\times100\right)\)   % = 100%

Question 46.

In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

  1.    30%
  2.    70%
  3.    100%
  4.    250%
 Discuss Question
Answer: Option B. -> 70%

Let C.P.= Rs. 100. Then, Profit = Rs. 320, S.P. = Rs. 420.


New C.P. = 125% of Rs. 100 = Rs. 125


New S.P. = Rs. 420.


Profit = Rs. (420 - 125) = Rs. 295.


So, Required percentage =   \(\left(\frac{295}{420}\times100\right)\) % = \(\frac{1475}{21}\) %  = 70% (approximately).

Question 47.

A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

  1.    3
  2.    4
  3.    5
  4.    6
 Discuss Question
Answer: Option C. -> 5

C.P. of 6 toffees = Re. 1


S.P. of 6 toffees = 120% of Re. 1 = Rs.\(\frac{6}{5}\)


For Rs.\(\frac{6}{5}\)  , toffees sold = 6


For Re. 1, toffees sold = \(\left(6\times\frac{6}{5}\right)=5.\)

Question 48.

The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

  1.    Rs. 2000
  2.    Rs. 2200
  3.    Rs. 2400
  4.    Data inadequate
 Discuss Question
Answer: Option A. -> Rs. 2000

Let C.P. be Rs. x.


Then, \(\frac{1920-x}{x}\times100 =\frac{x-1280}{x}\times100\)


 1920 - x = x - 1280


 2x = 3200


 x = 1600


So, Required S.P. = 125% of Rs. 1600 = Rs. \(\left(\frac{125}{100}\times1600\right)\)   = Rs.2000

Question 49.

A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?

  1.    Rs. 18.20
  2.    Rs. 70
  3.    Rs. 72
  4.    Rs. 88.25
 Discuss Question
Answer: Option C. -> Rs. 72

C.P. = Rs. \(\left(\frac{100}{122.5}\times392\right)= Rs. \left(\frac{1000}{1225}\times392\right) = Rs.320.\)


So, Profit = Rs. (392 - 320) = Rs. 72.

Question 50.

A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. What is the selling price of the cycle?

  1.    Rs. 1090
  2.    Rs. 1160
  3.    Rs. 1190
  4.    Rs. 1202
 Discuss Question
Answer: Option C. -> Rs. 1190

S.P. = 85% of Rs. 1400 = Rs  \(\left(\frac{85}{100}\times1400\right)\)  = Rs. 1190

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