Profit and Loss Questions and Answers:


Overview:


Questions and Answers Type:MCQ (Multiple Choice Questions).
Main Topic:Quantitative Aptitude.
Quantitative Aptitude Sub-topic:Profit and Loss Aptitude Questions and Answers.
Number of Questions:10 Questions with Solutions.

  1. The difference between a discount of \(50 \ \%\) on \(Rs.1000\) and two successive discounts of \(20 \ \%\) and \(30 \ \%\) on the same amount will be?

    1. \(Rs.50\)
    2. \(Rs.55\)
    3. \(Rs.60\)
    4. \(Rs.65\)


Answer: (c) \(Rs.60\)

Solution: \(50 \ \%\) discount on \(Rs.1000\), $$ = \frac{50}{100} \times 1000 = Rs.500 $$ overall discount of two successive discounts \(20 \ \%\) and \(30 \ \%\), $$ = x + y - \frac{xy}{100} $$ $$ = 20 + 30 - \frac{20 \times 30}{100} $$ $$ = 44 \ \% $$ now amount of \(44 \ \%\) discount on \(Rs.1000\), $$ = \frac{44}{100} \times 1000 = Rs.440 $$ then $$ Difference = 500 - 440 $$ $$ = Rs.60 $$

  1. find the single discount equivalent to discounts \(20 \ \%\) and \(25 \ \%\), successively?

    1. \(35 \ \%\)
    2. \(40 \ \%\)
    3. \(42 \ \%\)
    4. \(45 \ \%\)


Answer: (b) \(40 \ \%\)

Solution: Given, \(x = 20 \ \%\)

\(y = 25 \ \%\)

then overall discount, $$ = x + y - \frac{xy}{100} $$ $$ = 20 + 25 - \frac{20 \times 25}{100} $$ $$ = 40 \ \% $$

  1. find the single discount equivalent to discounts \(10 \ \%\), \(20 \ \%\) and \(25 \ \%\), successively?

    1. \(46 \ \%\)
    2. \(48 \ \%\)
    3. \(50 \ \%\)
    4. \(52 \ \%\)


Answer: (a) \(46 \ \%\)

Solution: Let marked price = \(Rs.100\)

then selling price will be \(90 \ \%\) of \(80 \ \%\) of \(75 \ \%\) of \(Rs.100\), $$ = \frac{90}{100} \times \frac{80}{100} \times \frac{75}{100} \times 100 $$ $$ = Rs.54 $$ Hence single discount, $$ = (100 - 54) \ \% = 46 \ \% $$

  1. A chair is offered for \(Rs.600\) with \(10 \ \%\) and \(20 \ \%\) discounts successively. If in addition, a discount of \(25 \ \%\) is offered on card payment, then find the price of the chair after discounts?

    1. \(Rs.325\)
    2. \(Rs.324\)
    3. \(Rs.322\)
    4. \(Rs.320\)


Answer: (b) \(Rs.324\)

Solution: Price of the chair after discounts will be \(90 \ \%\) of \(80 \ \%\) of \(75 \ \%\) of \(Rs.600\), $$ = \frac{90}{100} \times \frac{80}{100} \times \frac{75}{100} \times 600 $$ $$ = Rs.324 $$

  1. find the single discount equivalent to discounts \(5 \ \%\) \(10 \ \%\), \(20 \ \%\) and \(25 \ \%\), successively?

    1. \(45.6 \ \%\)
    2. \(46.8 \ \%\)
    3. \(48.7 \ \%\)
    4. \(49.6 \ \%\)


Answer: (c) \(48.7 \ \%\)

Solution: Let marked price = \(Rs.100\)

then selling price will be \(95 \ \%\) of \(90 \ \%\) of \(80 \ \%\) of \(75 \ \%\) of \(Rs.100\), $$ = \frac{95}{100} \times \frac{90}{100} \times \frac{80}{100} \times \frac{75}{100} \times 100 $$ $$ = Rs.51.3 $$ Hence single discount, $$ = (100 - 51.3) \ \% = 48.7 \ \% $$

  1. A shopkeeper sold two mobiles for \(Rs.7500\) each, gaining \(10 \ \%\) on first mobile and losing \(5 \ \%\) on second mobile. Find his net profit or loss amount?

    1. \(Rs.287.09\)
    2. \(Rs.282.03\)
    3. \(Rs.288.06\)
    4. \(Rs.280.05\)


Answer: (a) \(Rs.287.09\)

Solution: selling price of two mobiles = \(Rs.15000\)

cost price of two mobiles, $$ = \frac{100}{110} \times 7500 + \frac{100}{95} \times 7500 $$ $$ = 14712.91 \ Rs. $$ then net profit = \(15000 - 14712.91\) = \(287.09 \ Rs.\)

  1. A seller sold an article at \(5 \ \%\) profit. If he had sold the article at \(10 \ \%\) profit, he would have recieved \(Rs.500\) more. Find the selling price of the article?

    1. \(Rs.10,000\)
    2. \(Rs.10,500\)
    3. \(Rs.10,800\)
    4. \(Rs.10,900\)


Answer: (b) \(Rs.10,500\)

Solution: Let cost price of the article = \(Rs.K\), then $$ k + k \times \frac{10}{100} = k + k \times \frac{5}{100} + 500 $$ $$ \frac{5 \ k}{100} = 500 $$ $$ k = 10,000 \ Rs. $$ Hence, selling price of the article, $$ = 10,000 + 10,000 \times \frac{5}{100} $$ $$ = Rs.10,500 $$

  1. A man sold two chairs for \(Rs.1500\) each, gaining \(25 \ \%\) on first chair and losing \(25 \ \%\) on second chair. Find his net profit or loss amount?

    1. \(Rs.200\)
    2. \(Rs.220\)
    3. \(Rs.250\)
    4. \(Rs.260\)


Answer: (a) \(Rs.200\)

Solution: selling price of two chairs = \(Rs.3000\)

cost price of two chairs, $$ = \frac{100}{125} \times 1500 + \frac{100}{75} \times 1500 $$ $$ = 3200 \ Rs. $$ then net loss = \(3200 - 3000\) = \(200 \ Rs.\)

  1. x sells a laptop to y at a profit of \(25 \ \%\) and y sells the laptop to z at a profit of \(10 \ \%\). If z pays \(Rs.20,000\), then what did x pay for laptop?

    1. \(Rs.12545.45\)
    2. \(Rs.14545.45\)
    3. \(Rs.15545.55\)
    4. \(Rs.16545.55\)


Answer: (b) \(Rs.14545.45\)

Solution: the amount x paid for the laptop is \(110 \ \%\) of \(125 \ \%\) of x, $$ \frac{110}{100} \times \frac{125}{100} \times x = 20,000 $$ $$ \frac{55 \ x}{40} = 20,000 $$ $$ x = 14545.45 \ Rs. $$

  1. A girl purchased a book at \(Rs.250\) and sold it at \(Rs.150\). Find the loss percent of the girl?

    1. \(25 \ \%\)
    2. \(30 \ \%\)
    3. \(35 \ \%\)
    4. \(40 \ \%\)


Answer: (d) \(40 \ \%\)

Solution: Given, cost price (CP) = \(Rs.250\)

selling price (SP) = \(Rs.150\), then $$ Loss = CP - SP $$ $$ = 250 - 150 = Rs.100 $$ Hence the loss percent, $$ Loss \ \% = \frac{Loss}{CP} \times 100 $$ $$ = \frac{100}{250} \times 100 $$ $$ = 40 \ \% $$