Profit & Loss Mcqs - Set 6

1)   A shopkeeper sells two articles at Rs.1000 each, making a profit of 20% on the first article and a loss of 20% on the second article. Find the net profit or loss that he makes?

a. neither profit nor loss
b. 3%
c. 5%
d. 4%
Answer  Explanation 

ANSWER: 4%

Explanation:
SP of first article = 1000
Profit = 20%
CP = (SP)*[100/(100+P)] = 5000/6 = 2500/3
SP of second article = 1000
Loss = 20%
CP = (SP)*[100/(100-L)] = 5000/4 = 1250
Total SP = 2000
Total CP = 2500/3 + 1250 = 6250/3
CP is more than SP, he makes a loss.
Loss = CP-SP = (6250/3)- 2000 = 250/3
Loss Percent = [(250/3)/(6250/3)]*100 =
0.04 * 100 = 4%


2)   A shopkeeper buys two articles for Rs.1000 each and then sells them, making 20% profit on the first article and 20% loss on second article. Find the net profit or loss percent?

a. neither profit nor loss
b. 1%
c. 2%
d. 3%
Answer  Explanation 

ANSWER: neither profit nor loss

Explanation:
Profit on first article = 20% of 1000 = 200.
This is equal to the loss he makes on the second article. That, is he makes neither profit nor loss.


3)   By selling an article at Rs.800, a shopkeeper makes a profit of 25%. At what price should he sell the article so as to make a loss of 25%?

a. Rs.600
b. Rs.480
c. Rs.500
d. Rs.450
Answer  Explanation 

ANSWER: Rs.480

Explanation:
SP = 800
Profit = 25%
CP = (SP)*[100/(100+P)]
= 800 * [100/125]
= 640
Loss = 25% = 25% of 640 = Rs.160
SP = CP – Loss = 640 – 160 = Rs.480


4)   By selling an article at Rs.600, a profit of 25% is made. Find its cost price?

a. Rs.350
b. Rs.400
c. Rs.573
d. Rs.480
Answer  Explanation 

ANSWER: Rs.480

Explanation:
SP = 600
CP = (SP)*[100/(100+P)]
= 600 * [100/(100+25)]
= 600 * [100/125] = Rs.480


5)   A person buys an article at Rs.500. At what price should he sell the article so as to make a profit of 20%?

a. Rs.600
b. Rs.500
c. Rs.250
d. Rs.700
Answer  Explanation 

ANSWER: Rs.600

Explanation:
Cost price = Rs.500
profit = 20% of 500 = Rs.100
Selling price = Cost price + Profit
= 500 + 100 = 600


6)   A man buys milk at a certain rate per liter and after adding water to it sells the mixture at the same rate. Find in what ration he much mix water to milk so as to gain 20% on his outlay?

a. 1:5
b. 1:20
c. 2:5
d. 1:6
Answer  Explanation 

ANSWER: 1:5

Explanation:
No explanation is available for this question!


7)   A trader marked the price of the T.V. 30% above the cost price of the T.V. and gave the purchaser 10% discount on the marked price, thereby gaining Rs.340. Find the cost price of the T.V?

a. Rs.2250
b. Rs.2000
c. Rs.2150
d. Rs.2200
Answer  Explanation 

ANSWER: Rs.2000

Explanation:
No explanation is available for this question!


8)   A trader marked the price of a car 20% above the cost price and allowed the purchaser 5% discount on the marked price there by gained Rs.8400. Find the cost price of the car?

a. Rs.60000
b. Rs.75000
c. Rs.68400
d. Rs.78400
Answer  Explanation 

ANSWER: Rs.60000

Explanation:
No explanation is available for this question!


9)   At what price must an article costing Rs.47.50 be marked in order that after deducting 5% from the list price. It may be sold at a profit of 25% on the cost price?

a. Rs.62.50
b. Rs.72.50
c. Rs.75.00
d. Rs.80.00
Answer  Explanation 

ANSWER: Rs.62.50

Explanation:
CP = 47.50

SP = 47.50*(125/100) = 59.375

MP*(95/100) = 59.375

MP = 62.5


10)   A dealer purchased an article at 3/4 of its list price and sold 50% more than the list price. Find his gain percent?

a. 75%
b. 50%
c. 100%
d. 80%
Answer  Explanation 

ANSWER: 100%

Explanation:
MP = 100

CP = 75

SP = 150

——

75 —- 75

100 —- ? => 100%


11)   Oranges are bought at 11 for a rupee and an equal number more at 9 a rupee. If these are sold at 10 for a rupee, find the loss or gain percent?

a. 1% gain
b. 2% gain
c. 1% loss
d. 2% loss
Answer  Explanation 

ANSWER: 1% loss

Explanation:
No explanation is available for this question!


12)   If goods be purchased for Rs.840 and one-fourth be sold at a loss of 20% at what gain percent should the remainder be sold so as to gain 20% on the whole transaction?

a. 30%
b. 33%
c. 33 1/3%
d. 35%
Answer  Explanation 

ANSWER: 33 1/3%

Explanation:
1/4 CP = 210 SP = 21*(80/100) = 168

SP = 840*(120/100) = 1008

1008 – 168 = 840

3/4 SP = 630

Gain = 210

630 — 210

100 — ? => 33 1/3%


13)   A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs.75 less, he could have gained 25%. What is the cost price?

a. Rs.250
b. Rs.225
c. Rs.275
d. Rs.200
Answer  Explanation 

ANSWER: Rs.250

Explanation:
CP1 = 100 SP1 = 90

CP2 = 80 SP2 = 80 * (140/100) = 112

22 —– 100

55 —– ? => Rs.250


14)   A man buys an article and sells it at a profit of 20%. If he had bought it at 20% less and sold it for Rs.75 less, he could have gained 25%. What is the cost price?

a. Rs.370
b. Rs.375
c. Rs.350
d. Rs.300
Answer  Explanation 

ANSWER: Rs.375

Explanation:
CP1 = 100 SP1 = 120

CP2 = 80 SP2 = 80 * (125/100) = 100

20 —– 100

75 —– ? => 375


15)   I bought two books; for Rs.480. I sold one at a loss of 15% and other at a gain of 19% and then I found each book was sold at the same price. Find the cost of the book sold at a loss?

a. Rs.28
b. Rs.280
c. Rs.140
d. Rs.70
Answer  Explanation 

ANSWER: Rs.280

Explanation:
x*(85/100) = (480 – x)119/100

x = 280


16)   A man sells two articles for Rs.3600 each and he gains 30% on the first and loses 30% on the next. Find his total gain or loss?

a. 9% loss
b. 400
c. 4000
d. 324
Answer  Explanation 

ANSWER: 9% loss

Explanation:
(30*30)/100 = 9%loss


17)   A man buys two articles for Rs.1980 each and he gains 10% on the first and loses 10% on the next. Find his total gain or loss percent?

a. 1% gain
b. 1% loss
c. 10% loss
d. no gain or no loss
Answer  Explanation 

ANSWER: 1% gain

Explanation:
No explanation is available for this question!


18)   A reduction of 20% in the price of salt enables a lady to obtain 10 kgs more for Rs.100, find the original price per kg?

a. 2 3/2
b. 2 2/3
c. 2.5
d. 3
Answer  Explanation 

ANSWER: 2.5

Explanation:
100*(20/100) = 20 — 10

? — 1 => Rs.2

100 — 80

? — 2 => Rs.2.5


19)   A reduction of 25% in the price of oil enables a house wife to obtain 5kgs more for Rs.800, what is the reduced price for kg?

a. Rs.20
b. Rs.30
c. Rs.40
d. Rs.25
Answer  Explanation 

ANSWER: Rs.40

Explanation:
800*(25/100) = 200 —- 5

? —- 1 => Rs.40


20)   A reduction of 40% in the price of bananas would enable a man to obtain 64 more for Rs.40, what is reduced price per dozen?

a. Rs.5
b. Rs.4
c. Rs.2
d. Rs.3
Answer  Explanation 

ANSWER: Rs.3

Explanation:
40*(40/100) = 16 — 64

? — 12 => Rs.3