Practice MCQ Questions and Answer on Profit and Loss

31.

Raza purchased a bicycle for Rs. 6810. He had paid a VAT of 13.5%. The list price of the bicycle was = ?

(A) Rs. 6696.50
(B) Rs. 6140
(C) Rs. 5970.50
(D) Rs. 6000

Solution: VAT % = 13.5% Cost price (including VAT) = Rs. 6810 $\begin{aligned} ∴ List price = \frac{6810}{113.5} \times 100 \\ = Rs . 6000 \end{aligned}$

32.

The marked price of watch was Rs. 820. A man bought the same for Rs. 570.72 after getting two successive discounts of which the first was 20%. The rate of second discount was -

(A) 12%
(B) 13%
(C) 15%
(D) 18%

Solution: Let the second discount rate be x% Then, (100 - x)% of 80% of 820 = 570.72 $\begin{aligned} \Rightarrow \frac{(100 - x)}{100} \times \frac{80}{100} \times 820 = 570.72 \\ \Rightarrow (100 - x) = (\frac{57072}{8 \times 82}) = 87 \\ \Rightarrow x = 13 \end{aligned}$ ∴ Second discount rate = 13%

33.

A dishonest merchant sells goods at a 12.5% loss on the cost price, but uses 28 g weight instead of 36 g. What is his percentage profit or loss?

(A) 6.25% loss
(B) 12.5% gain
(C) 18.75% gain
(D) 10.5% loss

Solution: Let 36 gm weight cost price = Rs. 80 1 gm weight cost price = $= \frac{80}{36} = \frac{20}{9}$ 28 gm weight selling price = Rs. 70 28 gm weight selling price $= \frac{70}{28} = \frac{5}{2}$ Profit $= \frac{5}{2} - \frac{20}{9} = \frac{5}{18}$ Profit % $= \frac{5 \times 9}{18 \times 20} \times 100 = \frac{25}{2} = 12.5 %$ $\begin{aligned} A l t e r n a t e s o l u t i o n : \\ 12.5 % = \frac{1}{8} \\ \frac{Selling price}{Cost price} = \frac{7}{8} \times \frac{36}{28} = \frac{9}{8}) 1 Profit \\ Profit % = \frac{1}{8} \times 100 = 12.5 % \end{aligned}$

34.

A vegetable vendor sold 1 kg of potatoes for Rs. 25 and earned 25% profit. In the evening, he started selling potatoes with only 10% profit. At what cost (in Rs.) per kg did he sell the potatoes in the evening?

(A) 21
(B) 20
(C) 24
(D) 22

Solution: Selling price of potatoes = 25 $\begin{matrix} \begin{matrix} Cost price & Selling price \\ \begin{matrix} 4 \\ ↓ \times 5 \\ 20 \end{matrix} & \begin{matrix} 5 \\ ↓ \times 5 \\ 25 \end{matrix} \end{matrix} \\ Profit % = 10 % = \frac{1}{10} \\ \begin{matrix} Cost price & Selling price \\ \begin{matrix} 10 \\ ↓ \times 2 \\ 20 \end{matrix} & \begin{matrix} 11 \\ ↓ \times 2 \\ 22 \end{matrix} \end{matrix} \end{matrix}$ Selling price of potatoes in evening = Rs. 22

35.

An article is sold at a profit of 20% . If the cost price is increased by 10% and the sale price by Rs. 26, then the percentage of profit reduces by 5% . Determine the cost price = ?

(A) Rs. 300
(B) Rs. 400
(C) Rs. 500
(D) Rs. 600

Solution: $\begin{aligned} Let the C .P . be Rs . x \\ Profit = 20 % \\ S .P . = Rs . (\frac{120}{100} \times x) \\ = Rs . \frac{6 x}{5} \\ New C .P . = Rs . (\frac{110}{100} \times x) \\ = Rs . \frac{11 x}{10} \\ New S .P . = Rs . (\frac{6 x}{5} + 26) \\ New profit \\ = Rs . [(\frac{6 x}{5} + 26) - \frac{11 x}{10}] \\ = Rs . (\frac{x}{10} + 26) \\ ∴ (\frac{x}{10} + 26) \times \frac{10}{11 x} \times 100 = 15 \\ \Rightarrow 100 (x + 260) = 165 x \\ \Rightarrow 65 x = 26000 \\ \Rightarrow x = 400 \end{aligned}$

36.

A showroom owner sells a leather jacket for Rs. x and claims to make a profit of 10%. He plans to have a stall in the trade fair and marks the same jacket at Rs. 2x. At the stall,he allows a discount of 20%. What will be the percentage profit that he will make at the trade fair?

(A) 60%
(B) 76%
(C) 80%
(D) 86%

Solution: $\begin{aligned} S .P . = Rs . x \\ Profit = 10 % \\ C .P . = Rs . (\frac{100}{110} \times x) \\ = Rs . \frac{10 x}{11} \\ M .P . = Rs . 2 x, \\ Discount = 20 % \end{aligned}$ S.P. at trade fair = 80% of Rs. 2x $\begin{aligned} = Rs . (\frac{80}{100} \times 2 x) \\ = Rs . \frac{8 x}{5} \\ Profit = Rs . (\frac{8 x}{5} - \frac{10 x}{11}) \\ = Rs . \frac{38 x}{55} \\ ∴ Profit % \\ = (\frac{38 x}{55} \times \frac{11}{10 x} \times 100) % \\ = 76 % \end{aligned}$

37.

A trader bought two horses for Rs. 19500, he sold one at a loss 20% and the other at a profit of 15%. If the selling price of each horse is the same, then their cost prices are respectively ?

(A) Rs. 10000 and Rs. 9500
(B) Rs. 11500 and Rs. 8000
(C) Rs. 12000 and Rs. 7500
(D) Rs. 10500 and Rs. 9000

Solution: Let the CP of horse = Rs. x Then, CP of second horse = Rs. (19500 - x) According to the question, $\begin{aligned} x \times \frac{80}{100} = (19500 - x) \times \frac{115}{100} \\ \Rightarrow 16 x = 23 (19500 - x) \\ \Rightarrow 16 x = 448500 - 23 x \\ \Rightarrow 39 x = 448500 \\ \Rightarrow x = \frac{448500}{39} \\ \Rightarrow x = Rs . 11500 \end{aligned}$ ∴ CP of first horse = Rs. 11500 ∴ CP of second horse = Rs. 19500 - 11500 = Rs. 8000

38.

A piece of land came to a person through three middleman each gaining 20%. If the person purchased the land for Rs. 345600 the original cost of the land was =

(A) Rs. 100000
(B) Rs. 150000
(C) Rs. 175800
(D) Rs. 200000

Solution: $\begin{aligned} CP = 345600 \times \frac{100}{120} \times \frac{100}{120} \times \frac{100}{120} \\ CP = \frac{345600000000}{1728000} \\ CP = Rs . 200000 \end{aligned}$

39.

An article marked at Rs. 540 is sold at Rs. 496.80 in an off - season offer. Then the rate of discount offered (in percent) is = ?

(A) 7%
(B) 7.5%
(C) 8%
(D) 10%

Solution: $\begin{aligned} Discount \\ = 540 - 496.80 \\ = 43.2 \\ Discount % \\ = \frac{43.2}{540} \times 100 \\ = 8 % \end{aligned}$

40.

A man buys a toy for Rs. 25 and sells it for Rs. 30. His gain percent is = ?

(A) 20%
(B) 10%
(C) 5%
(D) 2.5%

Solution: According to the question, Cost price = Rs. 25 Selling price = Rs. 30 Profit = Selling price - Cost price = 30 - 25 = Rs. 5 $\begin{aligned} Profit % = \frac{5}{25} \times 100 \\ = 20 % \end{aligned}$

«
1
2
3
4
5
6
7
8
9
10
...
47
48
Next ›
Last »

Indian Polity Mcq IAS GK Question India GK World GK GK questions GK Quiz Biology GK Science GK Physics GK Chemistry GK General Awareness Computer GK Political GK Indian Political GK Economics GK History GK Sports GK Geography GK Teaching Aptitude GK CTET/TET GK B Ed Entrance GK Banking GK SSC GK UPSC GK Indian Army GK Hindi Grammar GK Hindi Grammar MCQ Reasoning questions Bihar GK Rajasthan GK Jharkhand GK MP GK UP GK Chhattisgarh GK Haryana GK HP GK Maharashtra GK Electronics GK Agriculture GK States/Capitals GK Books Name & Author Arthimetic Verbal Reasoning Non Verbal Reasoning English

Practice MCQ Questions and Answer on Profit and Loss

General Knowledge