Profit and Loss MCQ Quiz - Objective Question with Answer for Profit and Loss - Download Free PDF

Given:

Dividend rate = 7.5% and Premium = 6

Market value of the stock = ₹3100

Concept used:

The price of a stock at a certain premium is calculated using the formula Price = Market Value + Premium.

Calculation:

In this case,

The premium value as a percentage of market value = \(\dfrac{6}{100}\) × 3100

⇒ 6 × 31 = Rs. 186

The price of the 7.5% stock at 6 premiums of ₹3100 = Market Value + Premium

⇒ 3100 + 186 = Rs. 3,286

∴ The price of the 7.5% stock at 6 premiums of ₹3,100 is ₹3,286.

Alternate MethodStock rate: 7.5%, Premium: 6%, and Face value of stock: ₹3100

Price of stock = Face value + Premium

Premium = (6/100) × ₹3100 = 0.06 × ₹3100 = ₹186

Price of stock = Face value + Premium = ₹3100 + ₹186 = ₹3286

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30000×12 : 35000×12 : 40000×8

 18 : 21 : 16

Total = 55

The profit share for R =  (50000/55)×16 = 14545.454

Alternate Method

Given:

Initial investments: P = Rs. 30,000, Q = Rs. 35,000

After 4 months, R joined with an investment of Rs. 40,000

Total profit for the year = Rs. 50,000

Concept:

We'll calculate the share of each partner in the profit using the concept of the ratio of investments multiplied by the time they invested.

Formula used:

Profit share = (Investment × Time) / Total Investment

Calculation:

The total investment and time for each 

For P = Rs. 30,000 × 12 months = Rs. 360,000

For Q = Rs. 35,000 × 12 months = Rs. 420,000

For R = Rs. 40,000 × 8 months = Rs. 320,000

the total investment =  360,000 + 420,000 + Rs. 320,000 =  1,100,000

The profit share for R = (320,000 / 1,100,000)× 50,000

= 14,545.45

Given:

A's investment = Rs. 2800

B's investment = Rs. 3600

C's investment = Rs. 4000

C's profit share = 5/17 of total profit

Formula used:

Profit share ∝ Investment × Time

Calculation:

A's investment period = 12 months

B's investment period = 12 months

C's investment period = x months

Let total profit = P

C's profit share = (4000 × x) / (2800 × 12 + 3600 × 12 + 4000 × x) = 5/17

⇒ (4000x) / (2800 × 12 + 3600 × 12 + 4000x) = 5/17

⇒ (4000x) / (33600 + 43200 + 4000x) = 5/17

⇒ 4000x × 17 = 5 × (76800 + 4000x)

⇒ 68000x = 384000 + 20000x

⇒ 68000x - 20000x = 384000

⇒ 48000x = 384000

⇒ x = 8

∴ C left the business after 8 months.

Discount amount is Rs. 1920.25 = 1920

Let cost price is 100x.

Selling price is 100x × [100 + 30] /100 = 130x     [ profit percentage = 29.85 = 30%] 

so, profit amount is 130x - 100x = 30x

discount amount is 30x × [100/(100 + 50)] = 30x × 100 /150x = 20x  

so, marked price is 100x + 30x + 20x = 150x

discount percentage is [150x - 130x] × 100/ 150x = 20x × 100/150x = 13.33% = 13% 

The cost and quantity (actual and assumed) of scarfs are presented in the table below:

Given equation:

\( 3x + 4y = 36 \) -------- (1)

And,

\( (3x + 4y) - (4x + 3y) = (y - x) = 1.5 \text{ or } 2 \)

If \( y - x = 1.5 \), it does not yield integer values for \( x \) and \( y \).

\( \therefore y - x = 2 \) -------- (2)

Solving (1) and (2), we get:

\( x = 4, \quad y = 6 \)

\( \therefore x + y = 10 \)

Thus, the total number of scarfs Roy purchased is 10.

Given:

Profit = 25 Percent

Discount = 15 Percent

Formula:

MP/CP = (100 + Profit %)/(100 – Discount %)

MP = Printed Price

CP = Cost Price

Calculation:

We know that –

MP/CP = (100 + Profit %)/(100 – Discount %)   ………. (1)

Put all given values in equation (1) then we gets

MP/CP = (100 + 25)/(100 – 15)

⇒ 125/85

⇒ 25/17

Given:

A shopkeeper normally makes a profit of 20% in a certain transaction,

He weights 900 g instead of 1 kg, due to an issue with the weighing machine.

He charges 10% less than what he normally charges.

Formula used:

SP = \(\frac{100 - discount}{100}×CP\)

Calculations:

Let the cost price of 1 Kg of goods = Rs. 100

So, the selling price of 1 Kg of goods = 100 × 120/100 = Rs. 120

Cost price of 900 grams of goods = Rs. 90

According to question,

Shopkeeper charges 10% less what he normally charges

So, the new selling price = old selling price × (100 - 10)/100

⇒ New selling price = 120 × \(\frac{90}{100}\) =Rs. 108

So, profit = Rs. (108 - 90) = Rs. 18

So, profit % = (\(\frac{18}{90}\)) × 100 = 20%

Hence, Profit percentage is 20%.

Given:

A dishonest merchant sells goods at a 12.5% loss on the cost price but uses 28 g weight instead of 36 g. 

Concept used:

Final percentage change after two successive increments of A% and B% = (A + B + \(AB \over 100\)) %

Calculation:

Percentage gain by using 28 g weight instead of 36 g = \(\frac {36 - 28}{28} × 100\) = \(\frac {200}{7}\%\)

Percentage loss = 12.5%

Considering 12.5% loss as -12.5% profit,

Now, the final percentage profit/loss = \({\frac {200}{7} - 12.5 - {\frac {200}{7} × 12.5 \over 100}}\) = +12.5%

Here, the positive sign indicates a percentage profit.

∴ His percentage profit is 12.5%

Shortcut TrickCalculation:

Merchant sells goods at a 12.5% loss:

C.P : S.P = 8 : 7

Merchant uses 28 g weight instead of 36 g

C.P : S.P = 28 : 36 = 7 : 9

We can use successive methods:

So, C.P : S.P = 56 : 63 = 8 : 9

Profit% = {(9 - 8)/8} × 100 

⇒ 12.5%

∴ The correct answer is 12.5%.

Given:

Two discounts = 40% and 20%

Formula:

Two discounts a% and b%

Total discount = \((a +b)- \frac{ab}{100}\)

Discount amount = (marked price) × (discount %)/100

Calculation:

Single discount percentage = \((40 +20)- \frac{40× 20}{100}\) = 52%

⇒ 52 = 988/marked price × 100

⇒ Marked price = 1900

∴ Marked price of an article is Rs.1900.

Alternate MethodLet the MP be x.

x - [x × (100 - 40)/100 × (100 - 20)/100] = 988

⇒ x - [x × (60/100) × (80/100)] = 988

⇒ x - x × (3/5) × (4/5) = 988

⇒ 13x/25 = 988

⇒ x = (988 × 25)/13

⇒ x = 1900

∴ Marked price of an article is Rs.1900.

Given:

Cost price of 36 kg sugar = Rs.1040

Formula used:

Profit = Selling price - Cost price

Calculation:

CP of 1 kg sugar = Rs.1040/36 

According to the question, 

SP × 10 = SP × 36 - CP × 36

⇒ CP × 36 = 26 × SP

⇒ 1040/ 36 × 36 = 26 × SP 

⇒ 1040 = 26 × SP

⇒ SP = 1040/26 = 40

Now, SP of 5 kg of sugar = 40 × 5 = Rs. 200

∴ The selling price of 5 kg sugar = Rs.200

Given:

A grocery shop is offering a 10% discount on the purchase of Rs.500 and above. A 5% discount is given on the purchase of value above Rs.250 but below Rs.500. A discount of an additional 1% is given if payment is made instantly in cash. 

He bought 25 packets of biscuits and one packet is priced at Rs.30.

Concept used:

1. Final discount percentage after two successive discounts of A% and B% = \((A + B - {AB \over 100})\%\)

2. Selling price = Marked Price × (1 - Discount%)

Calculation:

Total billed price = 25 × 30 = Rs. 750

Since he paid in cash, he would get two consecutive discounts of 10% and 1%.

So, final discounts = 10 + 1 - (10 × 1)/100 = 10.9%

Now, he would have to pay = 750 × (1 - 10.9%) = Rs. 668.25

∴ He would have to pay Rs. 668.25.

Given:

A and B invested money in a business in the ratio of 7 ∶  5.

15% of the total profit goes for charity, and A's share in the profit is Rs. 5,950

Calculation:

The total profit of A and B will be 5950 × 12 / 7 = Rs 10200

The total profit including charity is 10200 × 100/85 = Rs 12000

∴ The correct option is 2

Calculation:

Let cost price of the item be Rs. x

According to the question

(x – 440) = (1000 – x) × 60/100

⇒ (x – 440) = (1000 – x) × 3/5

⇒ 5x – 2200 = 3000 – 3x

⇒ 5x + 3x = 3000 + 2200

⇒ 8x = 5200

⇒ x = 5200/8

⇒ x = 650

∴ The correct answer is option (1).

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Given:

If the selling price of an article is doubled, then the profit becomes four times.

Formula used:

Profit = Selling price (S.P) - cost price (C.P)

Profit % = {profit (P) × 100}/C.P 

Calculation:

According to the question:

⇒ 4 × (S.P - C.P) = (2 × S.P - C.P)

⇒ 4 S.P - 4 C.P = 2 S.P - C.P

⇒ 2 S.P = 3 C.P

⇒ S.P/C.P = 3/2

Profit percentage = (P × 100)/C.P.

⇒ {(3 - 2) × 100}/2 = 100/2 = 50%.

∴ The correct answer is 50%.

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Fruits bought at 15 for Rs. 140

Equal quantity of bought at 10 for Rs. 120

Fruits sold at Rs. 132/dozen

Let, the total quantity of fruits = 30

               15 for Rs. 140            10 for Rs. 120          Total

CP              Rs. 140                        Rs. 180             Rs. 320

SP              Rs. 165                        Rs. 165             Rs. 330

Profit percent = (330 - 320)/320 × 100  = \(3 \frac{1}{8}\)%

∴ The required profit percent is  \(3 \frac{1}{8}\)%.

Alternate Method

Given:

Fruits at 15 for Rs. 140 = Fruits at 10 for Rs. 120

Fruits sold at Rs. 132/dozen

Formula used:

Profit > Loss 

Profit = SP - CP 

Profit percent = Profit/CP × 100 

Calculation:

Let, Total fruit brought

⇒ LCM (10 and 15) = 30

So, CP of 30 fruits at the rate of 15 for Rs. 140

⇒ 140/15 × 30 = Rs. 280

Similarly, CP of 30 fruits at 10 for Rs. 120,

⇒ 120/10 × 30 = Rs. 360

So, Total CP of 60 fruits = 280 + 360 = Rs. 640

Now,

⇒ SP of 12 fruits = Rs. 132

⇒ SP of 1 fruit = Rs. 11

⇒ SP of 60 fruits = Rs. 11 × 60 = Rs. 660

So, Profit = SP - CP = Rs.660 - Rs. 640 

⇒ Rs. 20 

Profit percent = 20/640 × 100 = \(3 \frac{1}{8}\)

∴ The required profit percent is  \(3 \frac{1}{8}\)%.