Quantitative Aptitude
PROFIT AND LOSS MCQs
Profit & Loss
- He got profit ⇒ profit % = 15/10 x 12/12 = 1.5 ⇒ 50%.
To calculate the percentage of profit made by John, we need to first determine the cost price (CP) of each apple and the selling price (SP) of each apple.
Given:
John bought 15 apples for Rs. 10, therefore, CP of each apple = Rs. 10/15 = Rs. 0.67
John sold 12 apples for Rs. 12, therefore, SP of each apple = Rs. 12/12 = Rs. 1
Now, we can calculate the profit made by John using the formula:
Profit = SP - CP
Profit = Rs. 1 - Rs. 0.67 = Rs. 0.33
Therefore, John made a profit of Rs. 0.33 on each apple.
To calculate the percentage of profit, we use the formula:
Profit percentage = (Profit/CP) * 100
Profit percentage = (0.33/0.67) * 100 = 49.25 ≈ 50%
Therefore, the correct answer is option A, which is 50%.
Explanation of terms and formulas used:
- Cost Price (CP): The price at which an article is purchased is known as its cost price.
- Selling Price (SP): The price at which an article is sold is known as its selling price.
- Profit: The difference between the selling price and the cost price is known as the profit.
- Profit percentage: The percentage of profit is the profit expressed as a percentage of the cost price.
- Formula for profit: Profit = SP - CP
- Formula for profit percentage: Profit percentage = (Profit/CP) * 100
- The percentage of profit can be calculated only when the cost price and selling price are known.
If you think the solution is wrong then please provide your own solution below in the comments section .
 - Loss = 30% on CP i.e., 0.3CP
⇒ SP = 0.7CP Loss % on SP = loss/SP x 100
= 0.3CP/0.7CP x 100 = 42.85%.
- 0.75 MP = 0.8 CP (since 20% loss) So, MP = 1.0666CP ⇒ 6.66% gain.
Given:
List Price (LP) = 100
Selling Price (SP) = 3/4 LP
Loss = 20%
We need to find the Profit Percentage (P%) if he sells at the List Price (100).
We can use the following formula to calculate the Profit Percentage (P%):
P% = (SP - CP)/CP × 100
where, SP is the Selling Price and CP is the Cost Price.
Since, the person incurs a loss of 20%, we can say that the Cost Price (CP) = (1.2 × SP).
Therefore, the Profit Percentage (P%) = (SP - 1.2 × SP)/(1.2 × SP) × 100
Substituting the values, we get
P% = (3/4 LP - 1.2 × 3/4 LP)/(1.2 × 3/4 LP) × 100
= (3/4 LP - 9/10 LP)/(9/10 LP) × 100
= (LP/40)/(9/10 LP) × 100
= 40/9 × 100
= 6.66 %
Hence, the Profit Percentage (P%) if he sells at the List Price (100) is 6.66 %.
Therefore, the correct answer is Option B 6.66 %.
 - Let the required price per kg Rs.a . Then,
C.P. of 60 kg rice = Rs.(30x17.50+30x a)
=Rs.(525+30a)
S.P. of 60 kg rice= Rs.(60x18.60) =Rs.1116.
116-(525 + 30a) x 100 = 20 525 + 30a 591 - 30a = 1 525 + 30a 5
= 2955 – 150a = 525 + 30a
= 180a = 2430
a = (2430/180)
=(27/2)
=13.50
 - Let the original price = 100
Then, C.P = Rs. 90, S.P = 130% of Rs.90 = Rs.(130/100 x 90) = 117.
∴ required percentage = (117-100)% =17%
 - Let C.P be Rs. x
Then, 2% of x = (400-380) = 20
=> x/50 =20
=> x = 1000
 - Let C.P be Rs. x
Then, 105x/100 – 95x/100 =15
=> x = 150
 - Let C.P be Rs. x
Then, (106% of x) - (87.50% of x) = 51.80
=> 18.5% of x = 51.80
=> x = (51.80 x 100 x 2)/37
=280
 - Let the C.P be Rs.x
Then, S.P = 120% of Rs. x = Rs.(120/100) x = Rs. 6x/5
∴6x/5 – x = 240
x = 1200
∴S.P = Rs. (6/5 x 1200) = Rs.1440.
- Let C.P be Rs.x then,
(107.5 % of x) - (97.5 % of x) = 100
=> 10% of x = 100
=> x =1000
∴ desired S.P = 112.5 % of Rs. 100
= Rs.(225/2 x 1/100 x 1000) =Rs. 1125
To gain 12.5%, the dealer needs to sell the article for Rs.1125. To calculate this, we need to use the concepts of profit and loss.
Profit and Loss:
Profit and Loss is a calculation which helps to ascertain the gain or loss made by a person on a particular transaction. Profit is the gain made on the transaction and loss is the amount lost on the transaction.
Formula:
The formula to calculate the profit or loss is given by
Profit/Loss = (SP - CP) / CP * 100
Where SP = Selling Price and CP = Cost Price
Given:
A dealer sold an article at a loss of 2.5%. Had he sold it for Rs. 100 more, he would have gained 7.5%.
Let CP = Cost Price of the article
Loss = 2.5%
Profit = 7.5%
Calculation:
We need to calculate the Selling Price of the article for the dealer to gain 12.5%.
Let SP = Selling Price of the article
For a loss of 2.5%,
Loss = (SP - CP) / CP * 100
2.5 = (SP - CP) / CP * 100
(SP - CP) / CP * 100 = 2.5 / 100
(SP - CP) / CP = 0.025
SP - CP = 0.025 * CP
SP = 0.025 * CP + CP
SP = 1.025 * CP
For a gain of 7.5%,
Profit = (SP - CP) / CP * 100
7.5 = (SP - CP) / CP * 100
(SP - CP) / CP * 100 = 7.5 / 100
(SP - CP) / CP = 0.075
SP - CP = 0.075 * CP
SP = 0.075 * CP + CP
SP = 1.075 * CP
Now,
For a gain of 12.5%,
Profit = (SP - CP) / CP * 100
12.5 = (SP - CP) / CP * 100
(SP - CP) / CP * 100 = 12.5 / 100
(SP - CP) / CP = 0.125
SP - CP = 0.125 * CP
SP = 0.125 * CP + CP
SP = 1.125 * CP
Therefore, the Selling Price of the article for the dealer to gain 12.5% = 1.125 * CP
Since the Cost Price of the article is given to be Rs. 100 more than the Selling Price of the article,
CP = SP + 100
1.125 * CP = SP + 100
1.125 * (SP + 100) = SP + 100
1.125 * SP + 131.25 = SP + 100
0.125 * SP = -31.25
SP = -31.25 / 0.125
SP = Rs.1125
Hence, to gain 12.5%, the dealer needs to sell the article for Rs.1125.
Therefore, the correct answer is Option D. Rs.1125.
If you think the solution is wrong then please provide your own solution below in the comments section .