This set of Aptitude Questions and Answers (MCQs) focuses on “Profit and Loss – Set 2”.
1. The profit by selling an article is 40 rupees. Find the cost price if the selling price is twice the cost price.
a) 80 rupees
b) 20 rupees
c) 40 rupees
d) 60 rupees
View Answer
Explanation: Let the selling price be x.
The cost price is half the selling price = x / 2 = 0.5x
The profit = selling price – cost price = x – 0.5x = 0.5x = 40
The cost price = 40 rupees
2. The purchase price of an article is 20% less than the profit made. Find the profit if the selling price is 360 rupees.
a) 200 rupees
b) 160 rupees
c) 180 rupees
d) 240 rupees
View Answer
Explanation: The purchase price is 20% less than the profit made.
Let the profit made be x.
The purchase price = x – 20% of x = 0.8x
X + 0.8x = 360
1.8x = 360
X = 200 rupees
3. The profit made by selling an article for 720 is 20%. Find the cost price.
a) 500
b) 520
c) 580
d) 600
View Answer
Explanation: Let the cost price be x.
The profit = 20% = 20% of x = 0.2x
The selling price in terms of x = x + 0.2x = 1.2x
The selling price = 720 = 1.2x
The cost price = x = 720 / 1.2 = 600
4. The cost price of an article is 50% of the marked price. Find the discount if there is no profit or loss made. The selling price is 25 rupees.
a) 20 rupees
b) 25 rupees
c) 50 rupees
d) 125 rupees
View Answer
Explanation: Let the marked price be x.
The cost price = 50% of the marked price = 50% of x = 0.5x
The selling price = the cost price as there is not profit or loss
X = 0.5x + 25
0.5x = 25 rupees
5. The selling price of an article is 70% of the cost price. If the loss is 33 rupees, find the selling price.
a) 110 rupees
b) 330 rupees
c) 33 rupees
d) 77 rupees
View Answer
Explanation: Let the cost price be x.
The selling price is 70% of the cost price.
Selling price = 70% of x = 0.7x
The loss = x – 0.7x = 0.3x
0.3x = 33
0.7x = 33 / 3 * 7 = 77
6. The price of an article is marked 20% more than the cost price. If the discount is 20% find the profit or loss percent.
a) 4% loss
b) 4% profit
c) No loss or profit
d) 11% loss
View Answer
Explanation: Let the cost price be x.
The marked price = x + 20% of x = 1.2x
The selling price = 20% of 1.2x = 0.24x
The selling price = 1.2x – 0.24x = 0.96x
The loss = x – 0.96x = 0.04x
The loss percent = 0.04x / x * 100 = 4% loss
7. The cost price of an article is 20% of the marked price. Find the loss or profit percent if the discount allowed is 40% of the marked price.
a) 20% profit
b) 200% profit
c) 2% profit
d) 20% loss
View Answer
Explanation: Let the marked price be x.
The cost price of the article = 20% of x = 0.2x
The discount allowed = 40% of x = 0.4x
The selling price = x – o.4x = 0.6x
The profit = 0.6x – 0.2x = 0.4x
The profit = 0.4x / 0.2x * 100 = 200% profit
8. The cost price of an article is 50 rupees. Find the selling price if the profit is 1 / 3rd of the selling price.
a) 25 rupees
b) 50 rupees
c) 75 rupees
d) 100 rupees
View Answer
Explanation: Let the selling price be x.
The profit is 1 / 3rd of the selling price = x / 3
The cost price = selling price – profit = x – x / 3 = 2x / 3
The cost price given = 50 rupees
2x / 3 = 50
X = 50 / 2 * 3 = 75 rupees
9. The selling price of an article is half the loss incurred. Find the ratio between the cost price and the selling price.
a) 1 : 2
b) 2 : 1
c) 1 : 3
d) 3 : 1
View Answer
Explanation: Let the loss incurred be x.
The selling price = x / 2 = 0.5x
The cost price = x + 0.5x = 1.5x
The ratio between the cost price and selling price = 1.5x : 0.5x = 3 : 1
10. The loss incurred by selling an article at a price of 105 rupees was half the cost price. Find the cost price.
a) 100 rupees
b) 35 rupees
c) 70 rupees
d) 75 rupees
View Answer
Explanation: Let the cost price be x.
The loss incurred = half the cost price = x / 2 = 0.5x
The selling price = x + 0.5x = 1.5x = 105 rupees
X = 70 rupees
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