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

Calculation

Let R initial investment = 2x

After, five-month R investment = 2x × [150 /100] = 3x

V investment after seven months = 7000 × 7 /10 = 4900

Profit ratio of R to that of V

= (2x × 5 + 3𝑥 × 7) : (7000 × 7 + 4900 × 5)

= 31x: 73500

ATQ

[31𝑥/73500] = [1550 / (3020 – 1550)]

x = 2500

R initial investment = 2x = Rs 5000

So, X = 5000

Given:

a = 25² − 125 = 625 − 125 = ₹500

Cost Price (CP) = ₹a = ₹500

Selling Price (SP) = ₹2a = ₹1000

Marked Price (MP) = a + 700 = 500 + 700 = ₹1200

Formula used:

Discount = MP − SP

Profit = SP − CP

New values:

New CP = 500 + 100 = ₹600

New SP = 1000 + 100 = ₹1100

New MP = ₹1200 (unchanged)

Calculations:

New Discount = 1200 − 1100 = ₹100

New Profit = 1100 − 600 = ₹500

Difference = 500 − 100 = ₹400

∴ The required difference between new discount and new profit is ₹400.

Given:

Selling price at a loss of 10% = Rs. 4,000

Profit percentage required = 17%

Formula Used:

Cost Price (CP) = Selling Price / (1 - Loss%)

New Selling Price (SP) = Cost Price × (1 + Profit%)

Calculation:

Loss% = 10% = 10/100 = 0.1

Profit% = 17% = 17/100 = 0.17

Cost Price (CP) = 4000 / (1 - 0.1)

⇒ CP = 4000 / 0.9

⇒ CP = 4444.44

New Selling Price (SP) = 4444.44 × (1 + 0.17)

⇒ SP = 4444.44 × 1.17

⇒ SP = 5200

The price at which the telephone must be sold to get a profit of 17% is Rs. 5200.

Given:

Cost price of article = ₹400

Transport charges = ₹40

Profit = 20% on cost price

Formula used:

Total cost = Cost price + Transport

Selling price = Cost price + (Profit% of cost price)

Gain = Selling price - Total cost

Calculation:

Total cost = 400 + 40 = ₹440

Profit = 20% of 400 = (20/100) × 400 = ₹80

Selling price = 400 + 80 = ₹480

Gain = 480 - 440 = ₹40

∴ The dealer gets a gain of ₹40.

Given:

Selling price (SP) is 12% less than the cost price (CP).

Vendor manipulates weight, 800 g = 1 kg.

Formula Used:

Profit% = [(Effective SP - CP) / CP] × 100

Calculation:

Let the cost price (CP) of 1 kg of vegetables = ₹100.

SP of 1 kg = CP - 12% of CP

SP of 1 kg = ₹100 - (12/100) × ₹100

SP of 1 kg = ₹100 - ₹12

SP of 1 kg = ₹88

But vendor gives only 800 g instead of 1 kg:

Effective SP of 1 kg = (SP for 800 g × 1000) / 800

Effective SP = (₹88 × 1000) / 800

Effective SP = ₹110

Profit% = [(Effective SP - CP) / CP] × 100

⇒ Profit% = [(₹110 - ₹100) / ₹100] × 100

⇒ Profit% = (₹10 / ₹100) × 100

⇒ Profit% = 10%

The vendor gets a 10% profit.

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 Profit = 10%, Selling Price = Rs. 35.2

Cost Price = Selling Price/(1 + Profit%) = 35.2/(1 + 10%) = 35.2/(1 + 0.1) = 35.2/1.1 = Rs. 32

Now find the ratio in which the two varieties of sugar need to be mixed to get a cost price of Rs. 32

Using the formula for Allegations,

Quantity of lesser price/Quantity of higher price = (Average - Price of lesser quantity)/(Price of higher quantity Average)

⇒ (32 – 30)/(38 – 32) = 2/6 = 1 : 3

∴ Required ratio = 1 : 3

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 = 

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 ×  =Rs. 108

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

So, profit % = () × 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 + ) %

Calculation:

Percentage gain by using 28 g weight instead of 36 g =  = 

Percentage loss = 12.5%

Considering 12.5% loss as -12.5% profit,

Now, the final percentage profit/loss =  = +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 = 

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

Calculation:

Single discount percentage =  = 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% = 

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

Given:

Mark up percentage on goods = 30%

Discount Percentage = 10%

Formulas used:

Selling Price = Cost Price + Profit

Profit percent = Profit/Cost Price × 100

Discount = Marked Price - Selling Price

Discount percent = Discount/Marked Price × 100 

Calculation:

Let the cost price be = 100a 

Marked price = 100a + 100a × 30/100 = 130a 

Selling price after discount = 130a - 130a × 10/100 

⇒ 117a 

Selling price for 6.5% more profit = 117a + 100a × 6.5/100 

⇒ 117a + 6.5a = 123.5a 

∴ New Discount percent = (130a -123.5a)/130 × 100 

⇒ 5%

Shortcut Trick 

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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