Practice MCQ Questions and Answer on Profit and Loss

61.

A sells a cycle to B at a profit of 20% and B sells it to C at a loss of 25% . If C bought the cycle for Rs. P, then the cost price of it for A was = ?

(A) $Rs . \frac{1}{20} P$
(B) $Rs . \frac{9}{20} P$
(C) $Rs . \frac{9}{10} P$
(D) $Rs . \frac{10}{9} P$

Solution: Let the CPA = 100x ∴ CPB = 100x + 20% of 100x = 100x + 20x = 120x And CPC = 120x - 25% of 120x = 120x - 30x = 90x According to question, 90x = P ⇒ x = $\frac{P}{90}$ ∴ CPA = $100 \times \frac{P}{90} = \frac{10 P}{9}$

62.

The ratio of the cost price and selling price is 5 : 4, the loss percent is = ?

(A) 20%
(B) 25%
(C) 40%
(D) 50%

Solution: According to question, $\begin{aligned} \frac{Cost price}{Selling price} = \frac{5}{4}} 1 unit loss \\ loss % = \frac{1}{5} \\ = 20 % loss \end{aligned}$

63.

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 = $\frac{5}{8} %$

64.

If selling price of an article is reduced by 60%, then there is a loss of 10% on cost price. The initial profit percent was = ?

(A) 70%
(B) 80%
(C) 100%
(D) 125%

Solution: Let the initial SP = 100 After reducing 60% SP = 100 - 60 = 40 According to the question if the product is sold on 40 there is a loss of 10%. Then CP = $\frac{40}{90} \times 100 = \frac{400}{9}$ Profit = $100 - \frac{400}{9} = \frac{500}{9}$ ∴ Profit % = $\frac{\frac{500}{9}}{\frac{400}{9}} \times 100 = 125 %$

65.

Prateek sold a music system to Karthik at 20% gain and karthik sold it to Swastik at 40% gain. If Swastik paid Rs. 10500 for the music system, What amount did Prateek pay for the same ?

(A) Rs. 6250
(B) Rs. 7500
(C) Rs. 8240
(D) Cannot be determined

Solution: Let the price paid by Prateek be Rs. x. Then, $\begin{aligned} 140 % of 120 % of x = 10500 \\ \Rightarrow \frac{140}{100} \times \frac{120}{100} \times x = 10500 \\ \Rightarrow x = (10500 \times \frac{25}{42}) \\ = 6250 \end{aligned}$

66.

Jacob bought a scooter for a certain sum of money. He spent 10% of the cost on repairs and sold the scooter for a profit of Rs. 1100. How much did he spend on repairs if he made a profit of 20% ?

(A) Rs. 400
(B) Rs. 440
(C) Rs. 500
(D) Rs. 550

Solution: $\begin{aligned} Let the C.P. be Rs. x \\ Then, 20 % of x = 1100 \\ \Rightarrow \frac{20}{100} \times x = 1100 \\ \Rightarrow x = 5500 \\ C .P . = Rs . 5500 \end{aligned}$ Expenditure on repairs = 10% $\begin{aligned} Actual price \\ = Rs . (\frac{100}{110} \times 5500) \\ = Rs . 5000. \\ ∴ Expenditure on repairs \\ = Rs . (5500 - 5000) \\ = Rs . 500 \end{aligned}$

67.

If a commission at the rate of 10% is given to a bookseller on the marked price of a book by the publisher, the publisher gains 20% . If the commission is increased to 15% , then the gain percent would be = ?

(A) $6 \frac{2}{3} %$
(B) $13 \frac{1}{3} %$
(C) $15 \frac{5}{6} %$
(D) $12 \frac{1}{2} %$

Solution: Let CP = 100 and Marked Price = x SP = 100 + 20% of 100 = 120 10% commision was given on SP SP = x - 10% of x $\begin{aligned} 120 = x - \frac{10 x}{100} \\ 120 = \frac{9 x}{10} \\ 9 x = 1200 \\ x = \frac{1200}{9} = 133.33 \\ MP = 133.33 \end{aligned}$ If 15% commission was given, then SP = 133.33 - 15% of 133.33 SP = 133.33 - 20 SP = 113.33 Gain = 113.33 - 100 % Gain = 13.33% or $13 \frac{1}{3} %$

68.

In the Bargaining Bazar everyone purchase with a fair bargaining, so the traders markup the prices too much. A trader marked up an article at Rs. M expected huge profit if it is sold on marked price. But a customer purchased it at $\frac{M}{2}$ with his fine bargaining skills, so the expected profit of the trader diminished by 66.66%. What is the percentage discount fetched by the customer through bargaining?

(A) 33.33%
(B) 50%
(C) 60%
(D) 66.66%

Solution: $\begin{aligned} MP = M \\ SP = \frac{M}{2} \\ % Discount \\ = \frac{\frac{M}{2}}{M} \times 100 \\ = 50 % \end{aligned}$

69.

A person's salary was decreased by 50% and subsequently increased by 50% and then again increased by 100%. How much percentage does he loss or gain?

(A) Loss of 40%
(B) Gain of 50%
(C) Gain of 25%
(D) Loss of 10%

Solution: $\begin{aligned} Let salary = 100 \\ Then, 100 \times \frac{50}{100} \times \frac{150}{100} \times \frac{200}{100} = 150 % \\ Gain = 150 - 100 = 50 % \end{aligned}$

70.

If the profit per cent got on selling an article is numerically equal to its cost price in rupees and the selling price is Rs. 39, then cost price (in Rs.) will be:

(A) 20
(B) 22
(C) 28
(D) 30

Solution: SP = Rs. 39 CP = x(let) Profit % = CP $or, \frac{39 - x}{x} \times 100 = x$ $[% profit = \frac{SP - CP}{CP}]$ $\begin{aligned} 3900 - 100 x = x^{2} \\ x^{2} + 100 - 3900 = 0 \end{aligned}$ $x = 30$ (we cannot take negative value of x)

«
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