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Aptitude - Profit & Loss Online Quiz

Following quiz provides Multiple Choice Questions (MCQs) related to Profit & Loss. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.

Q 1 - By offering a seat for Rs. 572, a man increases 30%. The expense cost of the Chair is:

A - Rs. 340

B - Rs. 400

C - Rs. 440

D - Rs. none of these

Answer : C

Explanation

Let the C.P. be Rs x.Then, S.P. =130% of Rs x.
∴ 130/100*x=572 ⇒x= (572*10/13) =440.
∴ C.P. =Rs 440.

Q 2 - Oranges are purchased at 5 for rs. 10 and sold at 6 for rs. 15. His increase percent is:

Answer : D

Explanation

let the no. of oranges bought be (5*6)=30
C.P = (10/5*30) =60 rs
S.P= (15/6*30) =75 Rs.
Gain % = (15/60*100) = 25%

Q 3 - In the event that offering cost is multiplied, the benefit triples. The benefit percent is:

Answer : B

Explanation

Let C.P is Rs. x and S.P be Rs. y.
Then, profit = Rs. (y-x)
Again, S.P = Rs. 2y and profit = Rs. (y-x)
C.P = (S.P) ? (profit) =   rs.  3(y-x)
C.P = (S.P) - (profit) = 2y-3(y-x) = 3x-y
∴ 3x-y= x ⇒ y= 2x
⇒ Profit%= (x/x*100) % = 100%

Q 4 - Raman purchased a fountain at 9/10 of its stamped value and sold it at 8% more than its stamped cost. His increase percent is:

Answer : D

Explanation

Let the marked price of the geyser be Rs. x.
C.P = Rs. 9x/10 and S.P = 108% of Rs. x = Rs. (108/100*x) = 27X/25
Gain = (27x/25-9x/10) = (108x-90x /100)   = Rs. 9x/50
∴ Gain % = (9x/50 * 10/9x*100) % =20%

Q 5 - A salesman is allowed 11/2% discount on the total sales made by him plus a bonus of 1/2% on sales over Re 10000. If his total earnings were Re 1990, his total sales was:

Answer : D

Explanation

Let the salesman?s total sales = Re (10000 + x)
According to the question,
10000 * 11/2% + x*6% = 1990
Or, 5000*11% + 6x% = 1990
Or 5000*11/100 + 6x/100 = 1990
Or, 550 + 6x/100 = 1990
Or, 55000 + 6x = 199000
Or, 6x = 199000 ? 55000
Or, 6x = 144000
Or, x = 144000/6 = 24000

∴The required sales = Re (1000 + 24000) = Re 34000

Q 6 - By selling 12 gloves at Rs. 360, there is a loss equal to the cost price of 4 gloves. The cost price of a glove is

Answer : C

Explanation

(C.P. of 12 glove) - (S.P. of 12 glove) = (C.P. of 4 glove)
C.P. of 8 glove = S.P. of 12 glove = Rs.360.
C.P. of 1 glove = 360/( 8)=Rs.45

Q 7 - Siddiq buys an old scooter for Rs. 5200 and spends Rs. 1200 on its repairs. If he sells the scooter for Rs. 6000, his gain/loss percent is

Answer : B

Explanation

Cost Price (C.P.) = Rs. (5200 + 1200) = Rs. 6400.
Selling Price (S.P.) = Rs. 6000.
Loss = (C.P.) - (S.P.) = Rs. (6400 - 6000) = Rs. 400.
Loss =(C.P-S.P)/(C.P) x100=400/6400x100=6.25%

Q 8 - Rs. 680 is separated among A, B, C such that A gets 2/3 of what B gets and B gets 1/4 of what C gets. At that point their shares are separately:-

Answer : B

Explanation

Suppose C gets Rs. x. then B gets Rs. x/4 and gets Rs. (2/3*x/4)= x/6.
∴x/6+x/4+x=680
=>2x+3x+12x=8160
=> 17x= 8160
=> x=480
∴ A gets rs. 80, B gets rs. 120 and C gets rs. 480

Q 9 - A single markdown identical to progressive rebates of 30%, 20% what's more, 10% is:

Answer : D

Explanation

Let C.P be Rs. 100. Then ,
S.P =90% of 80% of  70% 0f  Rs. 100
= (90/100*80/100*70/100*100)= Rs. 50.40
∴ single discount = (100-50.40 )% =49.6%

Q 10 - A retailer offers his clients 10% rebate and still makes a benefit of 26% . What is the genuine expense of an article for him checked Rs. 280?

Answer : B

Explanation

M.P = Rs.280 , S.P= rs. (90/100*280) = 252
S.P = Rs. 252, gain = 26%

C.P.=Rs (100/126*252)=Rs 200.

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