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Quantitative Aptitude

PROFIT AND LOSS MCQs

Profit & Loss

Total Questions : 2016 | Page 7 of 202 pages
Question 61.

Arun purchased 30 kg of wheat at the rate of Rs. 11.50 per kg and 20 kg of wheat at the rate of Rs. 14.25 per kg. He mixed the two and sold the mixture. Approximately what price per kg should he sell the mixture to make 30% profit?

  1.    15.20
  2.    16.30
  3.    17.40
  4.    18.50
  5.    None of these
 Discuss Question
Answer: Option B. -> 16.30
 -    C.P. of 50 kg wheat = Rs. (30 x 11.50 + 20 x 14.25)
  = Rs. (345 + 285) = Rs. 630
S.P. of 50 kg wheat =  130% of Rs. 630 = 130 100  x 630 = Rs. 819  S.P. per kg =   819 50    = Rs. 16.38 = Rs. 16.30.
Question 62.

By selling 45 lemons for Rs. 40, a man loses 20%. How  many should be sell for Rs. 24 to gain 20% in the transaction?

  1.    18
  2.    19
  3.    20
  4.    23.8
  5.    None of these
 Discuss Question
Answer: Option A. -> 18
 -   Let S.P. of 45 lemons be Rs. x. Then, 80 : 40 = 120 : x or x = 120 x 40 80 =  60 For Rs. 60, lemons sold = 45. For Rs. 24, lemons sold    = 45 60  x 24  = 18.
Question 63.

If 5% more is gained by selling an article for Rs. 350 than by selling it for Rs. 340, the cost of the article is:

  1.    180
  2.    190
  3.    196
  4.    200
  5.    None of these
 Discuss Question
Answer: Option D. -> 200
 -   Let C.P. be Rs. x. Then, 5% of x = (350 - 340)= 10  => x 20  = 10     x = 200.
Question 64.

A vendor loses the selling price of 4 oranges on selling 36 oranges, His loss percent is:

  1.    9%
  2.    10%
  3.    11%
  4.    12%
  5.    None of these
 Discuss Question
Answer: Option B. -> 10%
 -    (C.P. of 36 mangoes) - (S.P. of 36 mangoes) - Loss = (S.P. of 4 mangoes)
  S.P. of 40 mangoes = C.P. of 36 mangoes
  Let C.P. of each mango be Re. 1.
  C.P. of 40 mangoes = Rs. 40; S.P. of 40 mangoes = Rs. 36
  Loss% =   4 40  x 100 %   = 10%.
Question 65.

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

  1.    33 1/3 %
  2.    42%
  3.    44%
  4.    45%
  5.    None of these
 Discuss Question
Answer: Option C. -> 44%
 -  Suppose, number of articles bought = L.C.M. of 6 and 5 = 30.
C.P. of 30 articles = 5 6  x 30    = 25.          S.P. of 30 articles = 6 5  x 30 = 36   Gain% =   11 25  x 100 %  = 44%.
Question 66.

An article was sold for Rs. 144. If the percentage of profit was numerically equal to the cost price, the cost of the article was:

  1.    75
  2.    78
  3.    80
  4.    82
  5.    None of these
 Discuss Question
Answer: Option C. -> 80
 -  Let C.P. = Rs. x, Profit% = x% and S.P. = Rs. 144
 x =   100 (100 + x)  x 144  
Question 67.

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.    68
  2.    70
  3.    71
  4.    72
  5.    None of these
 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
   Required percentage = 295 420  x 100 % = 1475 21 % = 70%.
Question 68.

The ratio of the cost price and the selling price is 4 : 5. The profit percent is:

  1.    10%
  2.    20%
  3.    25%
  4.    30%
  5.    None of these
 Discuss Question
Answer: Option C. -> 25%
 -     Let C.P. = Rs. 4x.    Then, S.P. = Rs. 5x.   Gain = Rs. (5x - 4x) = Rs. x.     Gain% = x 4x x 100 % = 25%.
Question 69.

A man buys an article for 10% less than its value and sells it for 10% more than its value. His gain or loss percent is:

  1.    no profit, no loss
  2.    20% profit
  3.    less than 20% profit
  4.    more than 20% profit
  5.    None of these
 Discuss Question
Answer: Option D. -> more than 20% profit
 -   Let the article be worth Rs. x.   C.P. = 90% of Rs. x. = Rs. 9x 10 ; S.P. = 110% of Rs, x = Rs. 11x 10           Gain = Rs.   11x 10 - 9x 10   = Rs. x 5             Gain% =   x 5 x 10 9x x 100 % = 22 2 9 % > 20%.
Question 70.

A retailer buys 40 pens at the marked price of 35 pens from a wholesaler. If he sells these pens giving a discount of 1%, what is the profit percent?

  1.    10%
  2.    12%
  3.    15%
  4.    16%
  5.    None of these
 Discuss Question
Answer: Option A. -> 10%

 -    Let the marked price of each pen be Re. 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%.

To solve this problem, we need to use the concept of profit and loss, and also the concept of marked price and selling price. Let's break down the problem step by step:

Given information:

The retailer buys 40 pens at the marked price of 35 pens from a wholesaler.

The discount offered by the retailer is 1%.

We need to find:

The profit percent made by the retailer.

Solution:

Cost Price (CP): The cost price is the price at which the retailer bought the pens from the wholesaler. Since the wholesaler sold 40 pens to the retailer at the marked price of 35 pens, the cost price of each pen is:

CP = Marked Price * (Number of pens bought / Number of pens paid for)

= Marked Price * (40/35)

Since the marked price is not given, we cannot calculate the exact cost price. Let's assume the marked price of each pen is Rs. 100. Then, the cost price of each pen would be:

CP = 100 * (40/35) = Rs. 114.29

Selling Price (SP): The selling price is the price at which the retailer sells the pens after giving a discount of 1%. The selling price of each pen would be:

SP = Marked Price - Discount

= 100 - 1

= Rs. 99

Profit Percent: The profit percent is the percentage of profit earned by the retailer on the cost price. The profit made on each pen would be:

Profit = SP - CP

= 99 - 114.29

= -Rs. 15.29

Since the profit is negative, it means that the retailer incurred a loss. The loss percent would be:

Loss Percent = (|Profit| / CP) * 100

= (15.29 / 114.29) * 100

= 13.37%

Therefore, none of the given options match the calculated loss percent. However, we made an assumption while calculating the cost price, which may not be accurate. Let's try the calculations again with a different assumption.

Let's assume the marked price of each pen is Rs. 70. Then, the cost price of each pen would be:

CP = 70 * (40/35) = Rs. 80

The selling price of each pen would be:

SP = 70 - (1% of 70) = Rs. 69.3

The profit made on each pen would be:

Profit = SP - CP

= 69.3 - 80

= -Rs. 10.7

The profit percent would be:

Profit Percent = (|Profit| / CP) * 100

= (10.7 / 80) * 100

= 13.37%

However, the question asks for profit percent, not loss percent. Therefore, we need to convert the negative profit into a positive profit by adding it to the cost price:

New CP = CP - Profit

= 80 + 10.7

= Rs. 90.7

The new profit percent would be:

Profit Percent = (Profit / New CP) * 100

= (10.7 / 90.7) * 100

= 11.78%

Therefore, the correct answer is option A, 10%.

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

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