# 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, $$Loss \ \% = \frac{Loss}{CP} \times 100$$ $$= \frac{100}{250} \times 100$$ $$= 40 \ \%$$