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Quantitative Aptitude

PROFIT AND LOSS MCQs

Profit & Loss

Total Questions : 2016 | Page 6 of 202 pages
Question 51.

Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?

  1.    3.5
  2.    4.5
  3.    5.6
  4.    6.5
 Discuss Question
Answer: Option C. -> 5.6

Cost Price of 1 toy = Rs. \(\left(\frac{375}{12}\right)= Rs. 31.25\)


Selling Price of 1 toy = Rs. 33


So, Gain = Rs. (33 - 31.25) = Rs. 1.75


So, Profit % =   \(\left(\frac{1.75}{31.25}\times100\right)\) % = \(\frac{28}{5}\)  % = 5.6%

Question 52.

Some articles were bought at 6 articles for Rs. 5 and sold at 5 articles for Rs. 6. Gain percent is:

  1.    30%
  2.      \(33\frac{1}{3}\)%
  3.    35%
  4.    44%
 Discuss Question
Answer: Option D. -> 44%

Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.


C.P. of 30 articles = Rs. \(\left(\frac{5}{6}\times30\right)\)   =Rs. 25


S.P. of 30 articles = Rs. \(\left(\frac{6}{5}\times30\right)\)   = Rs. 36.


Gain % =  \(\left(\frac{11}{25}\times100\right)\)  % = 44%

Question 53.

On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

  1.    Rs. 45
  2.    Rs. 50
  3.    Rs. 55
  4.    Rs. 60
 Discuss Question
Answer: Option D. -> Rs. 60

(C.P. of 17 balls) - (S.P. of 17 balls) = (C.P. of 5 balls)


 C.P. of 12 balls = S.P. of 17 balls = Rs.720.


C.P. of 1 ball = Rs. \(\left(\frac{720}{12}\right)\)  = Rs. 60

Question 54.

When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?

  1.    Rs. 21,000
  2.    Rs. 22,500
  3.    Rs. 25,300
  4.    Rs. 25,800
 Discuss Question
Answer: Option C. -> Rs. 25,300

85 : 18700 = 115 : x


x =   \(\left(\frac{18700\times115}{85}\right)\)  = 25300


Hence, S.P. = Rs. 25,300.

Question 55.

100 oranges are bought at the rate of Rs. 350 and sold at the rate of Rs. 48 per dozen. The percentage of profit or loss is:

  1.      \(14\frac{2}{7}\)% gain
  2.    15% gain
  3.      \(14\frac{2}{7}\)% loss
  4.    15 % loss
 Discuss Question
Answer: Option A. ->   \(14\frac{2}{7}\)% gain

C.P. of 1 orange = Rs. \(\left(\frac{350}{100}\right)\)  = Rs. 3.50.


S.P. of 1 orange = Rs. \(\left(\frac{48}{12}\right)\)   = Rs. 4


Gain% = \(\left(\frac{0.50}{3.550}\times100\right)\)  %  =  \(\frac{100}{7}\)   %=   \(14\frac{2}{7}\) %

Question 56.

A shopkeeper sells one transistor for Rs. 840 at a gain of 20% and another for Rs. 960 at a loss of 4%. His total gain or loss percent is:

  1.      \(5\frac{15}{17}\)% loss
  2.     \(5\frac{15}{17}\) % gain
  3.    \(6\frac{2}{3}\) % gain
  4.    None of these
 Discuss Question
Answer: Option B. ->  \(5\frac{15}{17}\) % gain

C.P. of 1st transistor = Rs.  \(\left(\frac{100}{120}\times840\right)\)  = Rs. 700.


C.P. of 2nd transistor = Rs.   \(\left(\frac{100}{96}\times960\right)\)  = Rs. 1000


So, total C.P. = Rs. (700 + 1000) = Rs. 1700.


Total S.P. = Rs. (840 + 960) = Rs. 1800.


So, Gain % =  \(\left(\frac{100}{1700}\times100\right)\)  % =  \(5\frac{15}{17}\) %

Question 57.

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

  1.    No profit, no loss
  2.    5%
  3.    8%
  4.    10%
  5.    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. 1680.


So, Gain =  \(\left(\frac{80}{1600}\times100\right)\)  %  = 5%

Question 58.
  1. The sum which amounts to Rs 840 in 5 years at the rate of 8% per annum simple interest is rupees

  1.    \(\frac{840\times5\times8}{100}\)
  2.    \(\frac{100\times840}{100 + 5 \times8}\)
  3.    \(\frac{100\times840}{100\times 5 \times8}\)
  4.    none of these
 Discuss Question
Answer: Option B. -> \(\frac{100\times840}{100 + 5 \times8}\)
The formula for simple interest is given by:Simple Interest (S.I) = (P * R * T) / 100where,P = Principal amountR = Rate of interest per annumT = Time period in years
In the given question, the principal amount is not known, so we need to find it using the given information. We are given that the sum amounts to Rs 840 in 5 years at the rate of 8% per annum simple interest. This means that the interest earned per year is:
I = (P * R * T) / 100 = (P * 8 * 1) / 100 = (8P/100)
Therefore, the total interest earned in 5 years would be:5I = 5(8P/100) = (40P/100)
We know that the sum amount (S) after 5 years is Rs 840, which is the principal amount (P) plus the interest earned (I) over 5 years:S = P + I = P + (40P/100)
Substituting the given values, we get:840 = P + (40P/100)84000 = 100P + 40P84000 = 140PP = 600
Now that we have found the principal amount, we can find the total interest earned over 5 years using the formula for simple interest:S.I = (P * R * T) / 100 = (600 * 8 * 5) / 100 = Rs. 240
Finally, we can calculate the total amount (S) after 5 years, which is the principal amount (P) plus the total interest earned (S.I):S = P + S.I = 600 + 240 = Rs. 840
Hence, the correct option is BIf you think the solution is wrong then please provide your own solution below in the comments section .
Question 59.

A trader mixes three varieties of groundnuts costing Rs. 50, Rs. 20 and Rs. 30 per kg in the ratio 2 : 4 : 3 in terms of weight, and sells the mixture at Rs. 33 per kg. What percentage of profit does he make?

  1.    8%
  2.    9%
  3.    10%
  4.    11%
  5.    None of these
 Discuss Question
Answer: Option C. -> 10%

 -  Suppose he bought 2 kg, 4 kg and 3 kg of the three varieties.
C.P. of 9 kg = Rs. (2 x 50 + 4 x 20 + 3 x 30) = Rs. 270
S.P. of 9 kg = Rs. (9 x 33) = Rs. 297
  Profit% =   27 270  x 100 % = 10%

Let's assume that the trader mixes 2x kg of the first variety, 4x kg of the second variety, and 3x kg of the third variety.

Then the total cost price (CP) of the mixture is:

CP = (502x + 204x + 30*3x) = 100x + 80x + 90x = 270x

And the total weight of the mixture is:

2x + 4x + 3x = 9x

Therefore, the cost price per kg of the mixture is:

CP per kg = CP / (9x) = 270x / (9x) = Rs. 30

The trader sells the mixture at Rs. 33 per kg, so his selling price (SP) is:

SP per kg = Rs. 33

Therefore, the profit per kg of the mixture is:

Profit per kg = SP per kg - CP per kg = Rs. 33 - Rs. 30 = Rs. 3

And the percentage profit is:

Percentage profit = (Profit per kg / CP per kg) x 100% = (3/30) x 100% = 10%

Therefore, the answer is option C: 10%.

Question 60.

A man bought apples at the rate of 8 for Rs. 34 and sold them at the rate of 12 for Rs. 57. How many apples should be sold to earn a net profit of Rs. 45?

  1.    85
  2.    90
  3.    95
  4.    100
  5.    None of these
 Discuss Question
Answer: Option B. -> 90
 -   C.P. of 1 apple =   34 8  = 4.25,                        S.P. of 1 apple    = 57 12

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