Profit and Loss
Profit and Loss - Important Points
| 6. | A trader mixes 26 kg of sugar at Rs. 20 per kg with 30 kg of sugar of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is: |
|---|
A. No profit, No loss
B. 5%
C. 8%
D. 10%
View Answer Discuss Work SpaceAnswer: option b
Explanation:
C.P. of 56 kg rice = Rs. (26*20 + 30*36)
= Rs. (520 + 1080)
= Rs. 1600
S.P. of 56 kg rice = Rs. (56*30) = Rs. 1680
Profit % = (80/1600)*100 = 5%
| 7. | By selling 45 toffees for Rs 40, a man loses 20%. How many should he sell for Rs 24 to gain 20% ? |
|---|
A. 16
B. 18
C. 20
D. 22
View Answer Discuss Work SpaceAnswer: option b
Explanation:
SP of 1 toffee = 40/45 = 8/9
CP of 1 toffee*80% = 8/9 (due to 20% loss)
CP of 1 toffee = (8/9)*(5/4)
CP of 1 toffee = 10/9
SP of 1 toffee(for 20% gain) = 120% of (10/9)
= (6/5)*(10/9)
= 60/45 = 4/3
Number of toffees for Rs 24 = 24/(SP of 1 toffee)
= 24/(4/3)
= 18
| 8. | A man buys oranges at Rs 50 a dozen and an equal number at Rs 40 a dozen. He sells them at Rs 55 a dozen and makes a profit of Rs 500. How many oranges does he buy? |
|---|
A. 30 dozens
B. 40 dozens
C. 50 dozens
D. 60 dozens
View Answer Discuss Work SpaceAnswer: option c
Explanation:
Cost Price of 2 dozen oranges Rs. (50 + 40) = Rs. 90
Selling price of 2 dozen oranges = Rs. 110
For profit of Rs 20, oranges bought = 2 dozen
SO, for profit of Rs. 500, oranges bought = (2/20) * 500 dozens = 50 dozens
| 9. | A person incurs a loss of 5% by selling a watch for Rs. 1140. At what price should he sell to earn 5% profit. |
|---|
A. Rs.1200
B. Rs.1230
C. Rs.1260
D. Rs.1290
View Answer Discuss Work SpaceAnswer: option c
Explanation:
5% loss means the watch was sold at 95% of CP
95% of CP = SP
(95/100)*CP = 1140
CP = (1140 * 100)/95
= 1200
Now, SP for 5% gain = CP*(105/100)
= (1200*105)/100
= 1260
| 10. | Due to reduction of 25% in price of lemons, a customer can purchase 4 lemons more for Rs. 16. what is original price of a lemon? |
|---|
A. Re 1
B. Rs 1.33
C. Rs 1.5
D. Rs 1.6
View Answer Discuss Work SpaceAnswer: option b
Explanation:
Let x number of lemons were purchased earlier with Rs. 16.
Now, x + 4 lemons for Rs. 16.
Expenditure = Price * Consumption
16 = p*x
16 = (3/4)p*(x + 4) [(3/4)p due to 25% reduction in p]
p*x = (3/4)p*(x + 4)
x = (3/4)*(x + 4)
x = 3x/4 + 3
x/4 = 3
x = 12
Original Price = 16/12 = Rs. 1.33
Profit and Loss Questions and Answers FAQ
Read FAQWhy do I need to learn Profit and Loss Questions with Answers in Quantitative Aptitude?
Profit and Loss is an important topic of Quantitative Aptitude. MCQ type Questions with Answers of Profit and Loss are required to build your Quantitative Aptitude skills which is a prerequisite for your Career development.
How Profit and Loss MCQ type Questions with Answers is helpful in my Career?
The Quantitative Aptitude MCQ type Questions with Answers based on "Profit and Loss" will help you improve your skills in order to face the interviews, crack Campus recruitment tests and various other competitive examination such as CAT, GATE, GRE, MAT, Bank Exam, Railway Exam etc. with full confidence.
What is the best way to prepare for Profit and Loss Questions with Answers?
First, go through the basic concepts related to Profit and Loss. Be ready with all Important Points of Profit and Loss. Then, attempt questions. Besthai.in provides you lots of fully solved Profit and Loss MCQ type questions and answers with explanation. It will help you to grasp the whole topic Profit and Loss in the easy way.
How this online resource is helpful in my preparation for Profit and Loss Questions and Answers?
Besthai.in provides lots of fully solved MCQs of Profit and Loss. You can study all important points related to Profit and Loss. You can also take Online Test to check your preparation for Profit and Loss in Quantitative Aptitude.