Practice MCQ Questions and Answer on Profit and Loss

121.

A trader sells two bullocks for Rs. 8400 each, neither losing nor gaining in total. If he sold of one of the bullocks at a gain of 20%, the other is sold at a loss of = ?

(A) 20%
(B) $18 \frac{2}{9}$ %
(C) $14 \frac{2}{7}$ %
(D) 21%

Solution: Total selling price of two bullocks = 8400 + 8400 = 16800 ∴ Cost price of first bullock = 8400 × $\frac{100}{120}$ = Rs. 7000 According to the question, there is no profit or loss. ∴ Cost price of second bullock = 16800 – 7000 = Rs. 9800 Selling price of second bullock = Rs. 8400 ∴ Loss = 9800 – 8400 = Rs. 1400 ∴ Percentage loss on second bullock $\begin{aligned} = \frac{1400}{9800} \times 100 % \\ = \frac{100}{7} % \\ = 14 \frac{2}{7} % \end{aligned}$

122.

A shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed price. The ratio of the cost price and the printed price of the book is = ?

(A) 99 : 125
(B) 25 : 37
(C) 50 : 61
(D) 45 : 56

123.

Find the selling price of an article if a shopkeeper allows two successive discounts of 5% each on the marked price of Rs. 80.

(A) Rs. 70.10
(B) Rs. 70.20
(C) Rs. 72
(D) Rs. 72.20

Solution: S.P. = 95% of 95% of Rs. 80 $\begin{aligned} = Rs . (\frac{95}{100} \times \frac{95}{100} \times 80) \\ = Rs .72 .20 \end{aligned}$

124.

If the cost price of 18 articles is equal to the selling price of 16 articles, the gain or loss is = ?

(A) 25% gain
(B) 25% loss
(C) $12 \frac{1}{2}$ % loss
(D) $12 \frac{1}{2}$ % gain

Solution: According to the question, 18 Cost Price = 16 Selling Price $\begin{aligned} \frac{CP}{SP} = \frac{16}{18} = \frac{8}{9}} 1 unit profit \\ Profit % = \frac{1}{8} \times 100 \\ = 12 \frac{1}{2} % gain \end{aligned}$

125.

By selling 4 articles for 1 rupee, a man losses 4%. Had he sold three articles per rupee, the profit would have been = ?

(A) 30%
(B) 28%
(C) 16%
(D) 12%

Solution: Selling price of 4 article = Rs. 1 Loss = 4% Cost price of 4 articles $= 1 \times \frac{100}{96} = \frac{100}{96}$ Cost price of 3 articles $= \frac{100}{96} \times \frac{3}{4} = \frac{75}{96}$ New selling price of 3 articles = Rs. 1 $\begin{aligned} Profit % \\ = \frac{\frac{1 - 75}{96}}{\frac{75}{96}} \times 100 \\ = \frac{21}{75} \times 100 \\ = 28 % \end{aligned}$

126.

A shopkeeper sold an article offering a discount of 5% and earned a profit of 23.5% . What would have been the percentage of profit earned if no discount was offered ?

(A) 24.5%
(B) 28.5%
(C) 30%
(D) Data inadequate

Solution: Let cost price be Rs. 100 Then, Selling Price = Rs. 123.50 Let marked price be Rs. x Then, $\begin{aligned} \frac{95}{100} x = 123.50 \\ \Rightarrow x = Rs . (\frac{12350}{95}) \\ \Rightarrow x = Rs .130 \end{aligned}$ Now, selling price = Rs. 130 Cost price = Rs. 100 ∴ Profit % = 30%

127.

By selling an article, a man makes a profit of 25% of its selling price. His profit percent is = ?

(A) 20
(B) 25
(C) $16 \frac{2}{3}$
(D) $33 \frac{1}{3}$

Solution: According to the question, 25% of selling price $= \frac{1 \to Profit}{4 \to Selling price}$ Cost price = Selling price - Profit Cost price = 4 - 1 Cost price = 3 $\begin{aligned} Profit % \\ = \frac{Profit}{Cost price} \times 100 \\ = \frac{1}{3} \times 100 \\ = 33 \frac{1}{3} % \end{aligned}$

128.

A lady sold an article for Rs. 960 at some profit. Had she sold it for Rs. 800, then there would have been a loss equal to $\frac{1}{3}$ of the initial profit. What was the profit percentage of the article?

(A) $\frac{50}{7} %$
(B) $\frac{10}{7} %$
(C) $\frac{100}{7} %$
(D) $\frac{150}{7} %$

Solution: S.P1 = 960 S.P2 = 800 There would have been a loss equal to $\frac{1}{3}$ of the previous profit. Loss = $\frac{1}{3}$ × Profit C.P - S.P2 = $\frac{1}{3}$ [S.P1 - C.P] 3C.P - 2400 = 960 - CP 4C.P = 3360 C.P = 840 Profit = 960 - 840 = 120 Profit % $= \frac{120}{840} \times 100 = \frac{100}{7} %$

129.

A milkman makes 20% profit by selling milk mixed with water at Rs. 9 per litre, if the cost price of 1 litre pure milk is Rs. 10, then the ratio of milk and water in the said mixture is = ?

(A) 3 : 1
(B) 4 : 1
(C) 3 : 2
(D) 4 : 3

Solution: According to question, S.P. at 20% profit = Rs. 9/litres Cost of mixture $= \frac{9}{120} \times 100 = Rs . 7.5 / litre$ Now, let the ratio of milk and water in the mixture = x : y $\begin{aligned} \Rightarrow \frac{(10 \times x) + (0 \times y)}{x + y} = 7.5 \\ \Rightarrow 10 x = 7.5 (x + y) \\ \Rightarrow x : y = 3 : 1 \end{aligned}$

130.

On selling an article for Rs. 123.40 the gain is 20% more than the amount of loss incurred on selling it for Rs. 108. If the article is sold for Rs. 120.75, then what is the gain/loss percent?

(A) Loss 2.5%
(B) Loss 5%
(C) Gain 2.5%
(D) Gain 5%

Solution: Loss : Profit = 5 : 6 Cost price = 123.40 - 6x = 108 + 5x 11x = 15.40 x = 1.4 Cost price = 108 + 5 × 1.4 = 115 Now Selling price = 120.75 Profit = 5.75 Profit % = $\frac{5.75}{115}$ × 100 = 5%

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Practice MCQ Questions and Answer on Profit and Loss

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