Profit and Loss - Quantitative Aptitude (MCQ) questions

1)   A and B enter into a partnership with respective capitals of Rs. 20,000 and Rs. 40,000. At the end of the year, the total profit is Rs. 33,000. If A receives Rs. 15,000 as both his salary and profit, then what is his salary?
- Published on 06 May 16

a. Rs. 2000
b. Rs. 4000
c. Rs. 3500
d. Rs. 3000
 Answer  Explanation ANSWER: Rs. 4000 Explanation: A's capital : B 's capital20000 : 40000 = 1 : 2Since, the time period is fixed, the profit is distributed in the ratio of capital 1 : 2Profit of A = (1/3) * 33,000 = Rs. 11,000Salary of A = Rs. (15000 – 11000) = Rs. 4000

2)   An article costs Rs. 600. What should be the marked price of an article so that after 10% discount, the trader makes 20% profit?
- Published on 06 May 16

a. Rs. 800
b. Rs. 950
c. Rs. 1100
d. Rs. 1040
 Answer  Explanation ANSWER: Rs. 800 Explanation: Cost price of article = Rs. 600Profit % = 20%Therefore,selling price of article = 120% of C.P.= (120 / 100) * 600 = Rs. 720Marked price = ?Discount % = 10%S.P. = Rs. 72090% of M.P. = S.P.90/100 * M.P. = 720M.P. = 720 * (100/90) = Rs. 800

3)   A man buys 50 pens at marked price of 46 pens from a whole seller. If he sells these pens giving a discount of 1% , what is the profit percent?
- Published on 05 May 16

a. 5.3 %
b. 7.6 %
c. 10.6 %
d. 12 %
 Answer  Explanation ANSWER: 7.6 % Explanation: Let Marked price be Re. 1 eachC.P. of 50 pens = Rs. 46 S.P. of 50 pens = 99% of Rs. 50 = Rs. 49.50Profit % = (Profit /C.P.) x 100Profit% = (3.50/46) x 100 = 7.6 %

4)   P sells an article to Q at 10 % profit. Q sells it to R at 25 % profit. If R pays Rs. 250 for it, What did P pay for it ?
- Published on 25 Apr 16

a. Rs. 225
b. Rs. 198..50
c. Rs. 181.81
d. Rs. 162.30
e. None of these
 Answer  Explanation ANSWER: Rs. 181.81 Explanation: Selling price of P = Cost price of QSelling Price of Q = Cost price of R = Rs. 250 ….. Given Q sold it to R with 25 % profit.Cost price of Q = 100/125 * 250/1 = Rs. 200 = Selling price of P.P sold it to Q with 10 % profit.Cost price of P = 100 / 110 * 200 / 1 = Rs. 181.81

5)   Sagar purchased 10 kg of rice at the rate of Rs. 15 per kg and 25 kg of rice at the rate Rs. 14 per kg. He mixed the two and sold the mixture. Approximately at what rate per kg should he sell the mixture to make 40 % profit in the transaction?
- Published on 25 Apr 16

a. Rs. 20.00
b. Rs. 19.50
c. Rs. 15
d. Rs. 17.5

Explanation:

Rice varietyQuantity(Kg)Rate(Rs/Kg)Cost(in Rs)
First1015150
Second2514350
Total500
By 40% profit on cost price,
Selling price of mixture = 140/100 * 500
= Rs. 700
Therefore, selling price per kg of mixture = 700/35 = Rs. 20

6)   A trader has 200 kg of sugar, out of which he sells some with 10% profit and the rest with 25% profit. He gains 15% on the whole. Find the quantity of sugar sold at 25% profit?
- Published on 20 Apr 16

a. 120 kg
b. 96.5 kg
c. 84 kg
d. 67 kg
e. None of these
 Answer  Explanation ANSWER: 67 kg Explanation: Let CP of each kg. of sugar = Rs.1.Cost Price of 200 kg of sugar = Rs.200.Let quantity of sugar sold with 25% profit be X. Therefore, (200 – X) kg of sugar sold at a profit of 10%Then, (125/100 * X) + 110/100 (200 – X) = 115/100 * 200125X + 110(200 – X) = 115 * 200125X + 22000 – 110X = 23000125X – 110X = 23000 – 2200015X = 1000X = 1000/15X = 66.66 kgQuantity of sugar that was sold at 25% gain is 66.66 kgTherefore, option nearby for 66.66 is 67 (d)

7)   Anil purchased 30 kg of wheat at the rate of Rs. 22 per kg and 20 kg of wheat at the rate of Rs. 24 per kg. He mixed the two. Approximately at what rate per kg should he sell the mixture to make 25% profit?
- Published on 19 Apr 16

a. Rs. 25
b. Rs. 28
c. Rs. 30
d. Rs. 32.5
 Answer  Explanation ANSWER: Rs. 28 Explanation: Total quantity of mixture = 30 + 20 = 50 kg.By earning a profit of 25% on the total cost, the selling price of the mixture is125/100 * (660 + 480 = 1140) = Rs. 1425Selling price per kg = Total selling price / Total of mixture= 1425 / 50= Rs. 28.5

8)   At what price should the Karan mark a sewing machine that costs him Rs. 1200/- so that even after offering a 20% discount, he makes 25% profit?
- Published on 19 Apr 16

a. Rs. 2,025/-
b. Rs.1,900/-
c. Rs. 1,675/-
d. Rs. 1,875/-
e. None of these
 Answer  Explanation ANSWER: Rs. 1,875/- Explanation: Cost of a sewing machine = Rs. 1200/-By giving 20% discount on the marked price of a sewing machine, the cost price is :100/80 * 1200 = Rs. 1500/- By making a profit of 25% on the cost price of a sewing machine, the marked price of the sewing machine is:125/100 × 1500 = 125 × 15 = Rs. 1,875/-

9)   Virat buys an old car for Rs. 50000 and spends Rs. 4000 on its repairs. If he sells the scooter for Rs. 60000, his gain percent is:
- Published on 15 Apr 16

a. 3 (4/7) %
b. 11 (1/9) %
c. 12 (2/3) %
d. 12%
 Answer  Explanation ANSWER: 11 (1/9) % Explanation: C.P. = Rs. (50000 + 4000) = Rs. 54000S.P. = Rs. 60000.Gain% = ( (6000 / 54000) * 100 ) % = 11 (1/9)%

10)   P, Q, R subscribe Rs. 50,000 for a business. P subscribes Rs. 4000 more than Q and Q Rs. 5000 more than R. Out of a total profit of Rs. 25,000, what will be P's share?
- Published on 06 Apr 16

a. Rs. 8400
b. Rs. 10,500
c. Rs. 13,600
d. Rs. 14,700
 Answer  Explanation ANSWER: Rs. 10,500 Explanation: Let amount subscribed for R be x. Therefore, Q = x + 5000 and P = x + 5000 + 4000 = x + 9000So, x + x + 5000 + x + 9000 = 500003x = 36000x = 12000P : Q : R = 21000 : 17000 : 12000 = 21 : 17 : 12P’s share = 25000 X (21/50) = Rs. 10,500

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