Practice MCQ Questions and Answer on Profit and Loss

131.

If the price of eraser is reduced by 25%. A person can buy 2 more erasers for a rupee. How many erasers are available for a rupee after reduction ?

(A) 8
(B) 6
(C) 4
(D) 2

Solution: Let n erasers be available for a rupee Reduced Price $= \frac{75}{100} \times 1 = \frac{3}{4}$ $\frac{3}{4}$ rupee fetch n erasers = 1 Rupee will fetch $(n \times \frac{4}{3})$ erasers Therefore, $\begin{aligned} \frac{4 n}{3} = n + 2 \\ \Rightarrow 4 n = 3 n + 6 \\ \Rightarrow n = 6 \end{aligned}$ Now total number of erasers are available for a rupee = 6 + 2 =8

132.

A shopkeeper gives two successive discounts on an article marked Rs. 450. The first discount given is 10%. If the customer pays Rs. 344.25 for the article, the second discount given is -

(A) 10%
(B) 12%
(C) 14%
(D) 15%

Solution: Let the second discount rate be x% Then, = (100 - x)% of 90% of 450 = 344.25 $\begin{aligned} \Rightarrow \frac{100 - x}{100} \times \frac{90}{100} \times 450 = 344.25 \\ \Rightarrow (100 - x) = (\frac{34425}{9 \times 45}) = 85 \\ \Rightarrow x = 15 \end{aligned}$ ∴ Second discount rate = 15%

133.

The marked price is 10% higher than the cost price. A discount of 10% is given on the marked price. In this kind of sale, the seller = ?

(A) Gain 2%
(B) Bears no loss, no gain
(C) Gain 1%
(D) Loses 1%

Solution: Let the cost price of article be Rs. 100 ∴ Marked price = Rs. 110 Discount % on marked price = 10% $\begin{aligned} Selling price \\ = \frac{110 \times 90}{100} \\ = R s .99 i . e ., 1 % l o s s \end{aligned}$

134.

Remi earns a profit of 20% on selling an article at a certain price. If she sells the article for Rs. 8 more, she will gain 30%. What is the original cost price of 16 such articles?

(A) Rs. 1,152
(B) Rs. 1,120
(C) Rs. 1,280
(D) Rs. 1,200

135.

A shopkeeper sells 25 articles at Rs. 45 per article after giving 10% discount and earns 50% profit. If the discount is not given, the profit gained is = ?

(A) 60%
(B) $60 \frac{2}{3}$ %
(C) 66%
(D) $66 \frac{2}{3}$ %

Solution: Selling price of 1 article = Rs. 45 Let marked price of each article be Rs. x Then, $\begin{aligned} \frac{90}{100} x = 45 \\ x = Rs . (\frac{45 \times 100}{90}) \\ = Rs . 50 \\ CP = Rs . (\frac{100}{150} \times 45) \\ = Rs . 30 \end{aligned}$ When no discount is given, Cost price = Rs. 30, Selling price = Rs. 50 ∴ Required profit % $\begin{aligned} = (\frac{20}{30} \times 100) % \\ = 66 \frac{2}{3} % \end{aligned}$

136.

A Microwave oven is sold in Hyderabad for Rs. M. A retailer, Elahi from Hyderabad went to Madras and bought it for 25% less (when compared to the price in Hyderabad). He spends Rs. 1.000 on transport to bring it from Madras to Hyderabad. He sold it in Hyderabad for Rs. M making a profit of 10%. Find the value of M (in Rs.).

(A) 6,305.8
(B) 6,258.8
(C) 6,285.7
(D) 6,527.9

Solution: $25 % = \frac{1}{4}$ Let price in Madras is 3x and Hyderabad 4x = M Now, According to the question, 3x + 1000 is the cost price when it is taken from Maderas Now, $\begin{aligned} (3 x + 1000) \frac{110}{100} = 4 x \\ 33 x + 11000 = 40 x \\ 7 x = 11000 \\ M = 4 x = \frac{11000 \times 4}{7} = 6285.7 \end{aligned}$

137.

Pawan kaul earns 15 percent on an investment but loses 10 percent on another investment. If the ratio of two investments is 3 : 5, then the combined loss percent is = ?

(A) $\frac{5}{4} %$
(B) $\frac{4}{5} %$
(C) $\frac{8}{5} %$
(D) $\frac{5}{8} %$

Solution: Let the total first investment is 300 and the second is 500. Total Investment = 300 + 500 = 800 15% profit on 1st investment = 300 + 15% of 300 = 300 + 45 = 345 10% loss on 2nd investment = 500 - 10% of 500 = 500 - 50 = 450 Now total amount = 345 + 450 = 795 Total loss = 800 - 795 = 5 % loss = $\frac{5}{800} \times 100 = \frac{5}{8} %$ ∴ % loss = $\frac{5}{8} %$

138.

If the selling price of an article is doubled, then its loss profit percent is converted into equal profit percent. The loss percent on the article is = ?

(A) $26 \frac{2}{3}$ %
(B) 33 %
(C) $33 \frac{1}{3}$ %
(D) 34 %

Solution: Let SP = Rs. x According to question, $\begin{aligned} (\frac{C P - x}{C P}) \times 100 = (\frac{2 x - C P}{C P}) \times 100 \\ C P - x = 2 x - C P \\ 3 x = 2 C P \\ x = \frac{2}{3} C P \\ S P = \frac{2}{3} C P \\ \frac{S P}{C P} = \frac{2}{3} > 1 unit loss \\ Loss % = \frac{1}{3} \times 100 = 33 \frac{1}{3} % \end{aligned}$

139.

A merchant marked cloth at Rs. 50 metre. He offers 2 successive discounts of 15% and 20%. The net price/metre is = ?

(A) Rs. 32.50
(B) Rs. 42.50
(C) Rs. 34.00
(D) Rs. 40.00

Solution: $\begin{aligned} 15 % = \frac{3}{20} (-) \\ 20 % = \frac{1}{5} (-) \end{aligned}$ Marked Price : Net Price 20 : 17 5 : 4 100 : 68 100 units = Rs. 50 1 unit = Rs. 0.50 68 units = Rs. 34

140.

If a man were to sell his chair for Rs. 720, he would lose 25%. To gain 25% he should sell it for:

(A) Rs. 1,200
(B) Rs. 1,000
(C) Rs. 960
(D) Rs. 900

Solution: Let the Cost price of the Chair is X. SP = X - 25% of X 720 = 0.75X X = 960 CP = Rs. 960 So, To gain 25%, SP would be = 960 + 25% of 960 =Rs. 1200 Short-cut CP of chair = $\frac{100}{75}$ × 720 = Rs. 960 To gain 25%, SP = $\frac{125}{100}$ × 960 = Rs. 1200

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Practice MCQ Questions and Answer on Profit and Loss

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