This set of Aptitude Questions and Answers (MCQs) focuses on “Profit and Loss”. These questions are beneficial for various competitive exams, placement interviews, and entrance tests.
1. Find the profit percent earned after selling an article at a doubled rate for half quantity.
a) 200%
b) 300%
c) 400%
d) 450%
View Answer
Explanation: Let the cost price be x.
The price is doubled, and the quantity is made half.
Price = 2x and quantity halved that makes price double for the initial quantity.
Price for equal quantity = 2x * 2 = 4x
Change in price = 4x – x = 3x
Profit percentage = 3x / x * 100 = 300%
2. The shopkeeper sells an article for 600 rupees. If the profit is 20% of the cost price, find the profit.
a) 100 rupees
b) 250 rupees
c) 500 rupees
d) 120 rupees
View Answer
Explanation: Let the cost price of the article 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 = 600 rupees
X = 600 / 1.2 = 500
The cost price = x = 500 rupees
The profit = 20% of x = 20 * 500 / 100 = 100 rupees
3. A shopkeeper purchases an article for 500 rupees. If the profit is 37.5% of the selling price, find the profit.
a) 800 rupees
b) 200 rupees
c) 300 rupees
d) 500 rupees
View Answer
Explanation: Let the selling price be x.
The profit = 37.5% of x
The cost price = 500 rupees
500 + 37.5% of x = x
X – 37.5% of x = 500
62.5% of x = 500
62.5x / 100 = 500
X = 500 / 62.5 * 100 = 800 rupees
The profit = 37.5% of the selling price = 37.5% of 800 = 300 rupees
4. An article is sold at 20% less than its cost price. If the selling cost is 50 rupees and the selling cost is 5% of the selling price, find the loss. (Selling cost here is the expense occurred to sell the article, it is levied on the seller)
a) 150 rupees
b) 200 rupees
c) 250 rupees
d) 300 rupees
View Answer
Explanation: Let the cost price be x.
The selling cost = 50 rupees which is 5% of the selling price
5% of the selling price = 50, 100% of the selling price = 50 / 5 * 100 = 1,000 rupees
The selling price is 20% less than the cost price = 80% of the cost price
80% of the cost price = 1000, 100% of the cost price = 1000 / 80 * 100 = 1250
Loss = cost price – loss = 1250 – 1000 = 250
Here the selling cost is levied on the seller, so the loss includes the selling cost.
Final loss = 250 + 50 = 300 rupees
5. If the seller sells half of his goods at 20% loss and the rest of his goods at 50% profit, find the profit percentage on the entire transaction.
a) 12% profit
b) 15% profit
c) 20% profit
d) 25% profit
View Answer
Explanation: Let the cost price of the goods be x per unit and the quantity of the articles be 100.
Half articles sold at 20% = x – 20% of x = x – 0.2x = 0.8 x
Selling price of 50 articles = 0.8x * 50 = 40x
Another half sold at 50% profit = x + 50% of x = x + 0.5x = 1.5x
Selling price of the remaining 50 articles = 1.5x * 50 = 75x
Total selling price = 40x + 75x = 115x
Profit at a whole = 115x – 100x = 15x
The profit percentage = 15x / 100x * 100 = 15%
6. The price of an article is increased by 20% for the shopkeeper, he further increases the selling price by 50%. The initial profit percent was 25%. If his initial profit was 50 rupees, find the profit now.
a) 115 rupees
b) 125 rupees
c) 135 rupees
d) 150 rupees
View Answer
Explanation: Let his initial cost price be 100 rupees.
His initial selling price = 100 + 25% of 100 = 100 + 25 = 125 rupees
The cost now increased by 20% = 100 + 20% of 100 = 100 + 20 = 120
The selling price now increased by 50% = 125 + 50% pf 125 = 125 + 62.5 = 187.5
The initial profit as per question = 50 rupees
The initial profit as per the assumption = 25
So, 25 units = 50 rupees
1 unit = 2 rupees
The new profit = 187.5 – 120 = 67.5 units = 67.5 * 2 = 135 rupees
6. The initial price of an article is decreased by 20% but the selling price remains constant. If the initial profit was 500 rupees, find the new profit. It is known the initial profit percent was 20% of cost price.
a) 800 rupees
b) 900 rupees
c) 1000 rupees
d) 1250 rupees
View Answer
Explanation: Let the initial cost price be x.
The initial selling price = x + 500 rupees
The new cost price = x – 20% of x = 0.8x
The final selling price = x + 500
The initial profit = x + 500 – x = 500
The final profit = x + 500 – 0.8x = 0.2x
20% of the cost price = 500
The initial cost price = 500 / 20 * 100 = 2500
X = 2500
The final profit = 500 + 2500 / 5 = 500 + 500 = 1000
7. The first 3 articles were sold at a profit of 50%, the next 5 articles were sold at a loss of 25% and the final 2 articles were sold at a profit of 100%. Find the profit percentage on the whole transaction.
a) 22.5% loss
b) 22.5% profit
c) 25% loss
d) 25% profit
View Answer
Explanation: Let the price of the article be x.
The profit on selling the first 3 articles = 50% of x = 0.5x
The total profit = 0.5x * 3 = 1.5x
The loss on selling the next 5 articles = 25% of x = 0.25x
The total loss = 0.25x * 5 = 1.25x
The profit on selling the last 2 articles = 100% of x = x
The total profit = x * 2 = 2x
The total profit / loss on the transaction = 1.5x – 1.25x + 2x = 2.25x (profit)
The profit percentage = 2.25x / 10x * 100 = 22.5% profit
8. The profit on selling 1 article is equal to the cost price of 2 such articles. Find the profit percentage.
a) 100%
b) 150%
c) 200%
d) 225%
View Answer
Explanation: Let the price of an article be x.
The profit = twice the price of the article = x * 2 = 2x
The profit percentage = 2x / x * 100 = 200% profit
9. If the loss occurred on selling an article is 20% of the selling price, find the loss percentage.
a) 16.6%
b) 16.8%
c) 17%
d) 18%
View Answer
Explanation: The loss occurred = 20% of the selling price
Let the selling price be x.
The loss = cost price – selling price
Cost price = selling price + loss
Cost price = x + 20% of x = 1.2x
Loss = 0.2x
Loss percentage = 0.2x / 1.2x * 100 = 16.6% loss
10. The expense of selling an article, worth rupees 6000, is 50 rupees. If the selling expenses is 10% more than the loss, find the loss percentage.
a) 7.5%
b) 8.33%
c) 9.09%
d) 10%
View Answer
Explanation: Let the cost price be x.
Selling expenses is 10% more than the loss = 50 rupees
Loss = 50 / 10 * 100 = 500 rupees
Loss percentage = 500 / 6000 * 100 = 8.33% loss
More Aptitude Questions and Answers on Profit and Loss:
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