MCQs with Solutions for all Competitive Examinations

Profit and Loss MCQs for Competitive Examination

Solve the following problems.

Q. 41
A man sells an article at 5% above its cost price. If he had bought it at 5% less than what he had paid for it and sold it at Rs 2 less, he would have gained 10%. The cost price of the article is

(A) Rs 200
(B) Rs 400
(C) Rs 300
(D) Rs 100

Answer: (B) Rs 400
Explanation: N/A

Q. 42
Pooja wants to sell a watch at a profit of 20%. She bought it at 10% less and sold it at Rs 30 less, but she gained 20%. The cost price of the watch is

(A) Rs 240
(B) Rs 220
(C) Rs 250
(D) Rs 225

Answer: (C) Rs 250
Explanation: N/A

Q. 43
Simon purchased a bicycle for Rs 6810. He had paid a VAT of 13.5%. The list price of the bicycle was

(A) Rs 6000
(B) Rs 6140
(C) Rs 6696.50
(D) Rs 5970.50

Answer: (A) Rs 6000
Explanation: N/A

Q. 44
There is a profit of 20% on the cost price of an article. The % of profit, when calculated on selling price is

(A) 16(2/3)%
(B) 20%
(C) 33(1/3)%
(D) None of these

Answer: (A) 16(2/3)%
Explanation: N/A

Q. 45
If books bought at prices from Rs 150 to Rs 300 are sold at prices ranging from Rs 250 to Rs 350, what is the greatest possible profit that might be made in selling 15 books?

(A) Cannot be determined
(B) Rs 750
(C) Rs 4,250
(D) Rs 3,000

Answer: (D) Rs 3,000
Explanation: Profit will be maximum when the Cost Price is minimum and the Selling Price is maximum. Here, Cost Price of each book = Rs 150 and Selling Price of each book = Rs 350, 
Hence profit on each book = Rs 200
Profit on 15 books = Rs 3000

Q. 46
By selling 33 metres of cloth, a person gains the cost of 11 metres. Find his gain%.

(A) 33(1/3)%
(B) 33(1/2)%
(C) 33%
(D) 34(1/3)%

Answer: (A) 33(1/3)%
Explanation: N/A

Q. 47
Krishnan bought a camera and paid 20% less than its original price. He sold it at 40% profit on the price he had paid. The percentage of profit earned by Krishnan on the original price was

(A) 22%
(B) 32%
(C) 12%
(D) 15%

Answer: (C) 12%
Explanation: N/A

Q. 48
A shopkeeper sold his goods at half the list price and thus lost 20%. If he had sold on the listed price, his gain percentage would be

(A) 60 %
(B) 20 %
(C) 72 %
(D) 35 %

Answer: (A) 60 %
Explanation: N/A

Q. 49
If goods be purchased for Rs 450 and one third sold at a loss of 10%. At what gain per cent should the remainder be sold so as to gain 20% on the whole transaction?

(A) 32%
(B) 35%
(C) 28%
(D) 30%

Answer: (B) 35%
Explanation: N/A

Q. 50
A manufacturer sells an item to a wholesale dealer at a profit of 18%. The wholesaler sells the same to a retailer at a profit of 20%. The retailer, in turn, sells it to a customer for Rs 15,045 thereby earning a profit of 25%. The cost price of the manufacturer is

(A) Rs 8000
(B) Rs 8500
(C) Rs 9000
(D) Rs 10,000

Answer: (B) Rs 8500
Explanation: N/A

Q. 51
A fruit-seller buys some oranges and by selling 40% of them he realises the cost price of all the oranges. As the oranges being to grow over-ripe, he reduces the price and sells 80% of the remaining oranges at half the previous rate of profit. The rest of the oranges being rotten are thrown away. The overall percentage of profit is

(A) 80
(B) 84
(C) 94
(D) 96

Answer: (B) 84
Explanation: N/A

Q. 52
A sold a horse to B for Rs 4800 by losing 20%. B sells it to C at a price which would have given A a profit of 15%. B’s gain is

(A) Rs 1800
(B) Rs 1900
(C) Rs 2000
(D) Rs 2100

Answer: (D) Rs 2100
Explanation: N/A

Q. 53
A man sold 20 apples for Rs 100 and gained 20%. How many apples did he buy for Rs 100?

(A) 20
(B) 22
(C) 24
(D) 25

Answer: (C) 24
Explanation: N/A

Q. 54
If I would have purchased 11 articles for Rs 10 and sold all the articles at the rate of 10 for Rs 11, the profit per cent would have been

(A) 10%
(B) 11%
(C) 21%
(D) 100%

Answer: (C) 21%
Explanation: N/A

Q. 55
Costs of two watches were in the ratio of 16 : 23. The cost of first watch increases by 10% and that of second by Rs 477. Now the costs of two watches are in a ratio of 11 : 20. The price of the second watch (in Rs) in the beginning was

(A) 932
(B) 1219
(C) 1696
(D) 848

Answer: (B) 1219
Explanation: N/A

Q. 56
A profit of 12% is made when a mobile phone is sold at Rs P and there is 4% loss when the phone is sold at Rs Q. Then Q : P

(A) 1: 1
(B) 4: 5
(C) 6: 7
(D) 3: 1

Answer: (C) 6: 7
Explanation: N/A

Q. 57
A shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed price. The ratio of the cost price and the printed price of the book is

(A) 99: 125
(B) 25: 37
(C) 50:61
(D) 45:56

Answer: (D) 45:56
Explanation: N/A

Q. 58
A grocery dealer cheats to the extent of 10% while buying as well as selling by using false weight. What is his increase in the profit %?

(A) 20%
(B) 21%
(C) 22%
(D) None of these

Answer: (B) 21%
Explanation: N/A

Q. 59
The salary of a person is increased by 20%, then it is decreased by 20%. The shange in his salary is

(A) 4% decreased
(B) 4% increased
(C) 8% decreased
(D) Neither decreases nor increases

Answer: (A) 4% decreased
Explanation: N/A

Q. 60
Find the selling price of an article if a shopkeeper allows two successive discounts of 5% each on the marked price of Rs 80.

(A) Rs 70.20
(B) Rs 70.10
(C) Rs 72.00
(D) Rs 72.20

Answer: (D) Rs 72.20
Explanation: N/A

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