Profit and Loss Aptitude Questions and Answers | MCQ Problems

2022-02-22

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Profit and Loss Aptitude Questions and Answers | MCQ Problems: Ready to take the Profit and Loss Quiz Online Test? Then take a glance at the below section. So, all the candidates who have a piece less knowledge on Profit and Loss Concept can improve their skills with the help of Profit and Loss Online Practice. Moreover, we have arranged the Profit and Loss Aptitude Questions below. So, all the aspirants who are ready to participate in various competitive exams can take a look at this post and take the Online Mock Test On Profit and Loss. And also, Profit and Loss are some of the hardest Concepts in Aptitude. And we can mention that after completion of taking the Profit and Loss Online Test, you can also get the complete explanations for all Questions which we have given here.

Table of Contents

Profit and Loss Quiz Online Test Details

Quiz Name	Profit and Loss
Category	Aptitude
Number of Questions	25
Time	30 Minutes
Exam Type	MCQ (Multiple Choice Questions)

Profit and Loss MCQ Problems – Practice Now

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1. Anurag buys an old laptop for Rs. 17500 and spends Rs. 2,500 for its repair. He is not satisfied from his laptop and sells the laptop at Rs. 22,500. Find his profit percent?

A. 20%
B. 12.5%
C. 15%
D. 14.5%
E. 25%

Answer: B

Explanation:

2. A invests some amount in a business. After 6 months his friend B joined him with the triple amount that A invests in starting of business. If in the business the total profit earned by both of them is Rs.16480, then find the difference between the share of profit between A and B

A. 4296 RS.
B. 3296 RS.
C. 3290 RS.
D. 6396 RS.
E. 2396 RS.

Answer: B

Explanation:

3. A shopkeeper is selling a fan at a discount of 30% on the mark price. If the marked price is 20% above the cost price and the fan was sold for Rs.420 then the cost price is

A. RS.700
B. RS.500
C. RS.400
D. RS.600
E. RS.850

Answer: B

Explanation:

4. Amit sells a Chair at 20% profit to Rahul. Rahul sells it to Sanjay at 30% profit. If Sanjay sells it to Dev at 50% profit and difference between Cost price of chair for Dev and Amit was Rs.2680. Then, how much Rahul pays to Amit for the chair?

A. RS.2400
B. RS.3400
C. RS.3000
D. RS.2200
E. RS.2100

Answer: A

Explanation:

Let the C.P of chair be 100x.
The, S.P for Amit = C.P for Rahul = 100x + 20% of 100x= 100x+20x= 120x
S.P for Rahul = C.P for Sanjiv = 120 + 30% of 120 = 120x + 36x = 156x
S.P for Sanjay = C.P for Dev = 156x + 50% of 156x = 156x + 78x = 234x
ATQ,
C.P for Dev – C.P for Amit = 2680
So, 234x – 100x = 2680
134x = 2680
So, x = 20
So, Rahul pays 120x = 120 * 20 = Rs.2400 to Amit.

5. A, B and C started a business with capital Rs.12000, Rs.20000 and Rs.24000 respectively. After 4 months, B takes out Rs.4000 and C added Rs.6000 in his investment. Then, find the profit share of B, if the total profit is Rs.8600

A. RS.2500
B. RS.3500
C. RS.2600
D. RS.3600
E. RS.3000

Answer: C

Explanation:

6. A man went to market and purchased a fan of Rs.2000 and sold it at the loss of 20% . From that amount, he purchased a Chair and sold it at a profit of 20%. What is the amount of overall profit/loss made by him in whole dealing?

A. Rs.230
B. RS.340
C. RS.350
D. RS.80
E. RS.290

Answer: D

Explanation:

7. Suraj sold an item for Rs.1600 and incurred a loss of 20%. At what price, should he have sold the item to have gained a profit of 30%.

A. RS.2000
B. RS,1800
C. RS.2600
D. RS.2500
E. RS.3500

Answer: C

Explanation:

Let the Cost price of item be 100x
So, after 20% loss, S.P of item = 100x – 20% of 100x = 80x
And, it is given that
80x = 1600
So, x = 20
So, cost price of item = 2000
After 30% profit,
S.P of item = 2000 + 30% of 2000 = 2000+ 600 = Rs.2600

8. Elon and Alex started work together with investment Rs. 2400 and Rs. 3200 respectively. After a year Mike also joined with investment of Rs. 3500. If in two years, they earned a profit of Rs. 5880, then find the profit share of Elon.

A. RS.2520
B. RS.1920
C. RS.2240
D. RS.1800
E. RS.1980

Answer: B

Explanation:

9. Sameer invested Rs. 45000 in a scheme which is 12.5% more than amount invested by Abhishek. After 1 year, Sameer invested Rs. 5000 more while Abhishek withdraw half of his investment. If at the end of 2 years, total profit earned by them is Rs. 3,10,000, then find difference between their profit share.

A. RS.6000
B. RS.125000
C. RS.110000
D. RS.190000
E. RS.70000

Answer: E

Explanation:

10. Neeraj buy an article for Rs. 3,000. He sold it at profit 20% & get some money and from that money he again buys an article and got 25% loss. What was the profit & loss he got from the transaction?

A. RS.500 profit
B. RS.300 loss
C. RS.300 profit
D. RS.500 loss
E. Neither profit or loss

Answer: B

Explanation:

11. Roman bought an article for Rs 5,840. He spent Rs. 360 on its shipping. He then sold it for Rs. 6,500, then find the approximate profit or loss % in this transaction

A. 5%
B. 2%
C. 8%
D. 13%
E. 17%

Answer: A

Explanation:

12. P, Q and R started a business with their investment in the ratio of 3:5:1 respectively. After 5 months P invested the same amount as before but Q withdrew 2/5th of their investment. The total profit at the end of one year is Rs. 3,450, then find profit earned by R.

A. Rs.315
B. Rs.420
C. Rs.360
D. Rs.540
E. Rs.130

Answer: C

Explanation:

13. Prashant bought a bike for Rs.80,000. He sold it to Shivam at 20% profit. Shivam spent Rs.4,000 on its maintenance and then Shivam sold it to Adarsh at 18% loss. Find out the price at which Adarsh purchased the bike.

A. Rs.85,000
B. Rs.82,000
C. Rs.88,000
D. Rs.96,000
E. Rs.92,000

Answer: B

Explanation:

14. Amit and Deepak started a business with initial investments in the ratio of 3:1 respectively. At the end of 8 months from start of the business, Amit left. If Deepak received Rs 8000 as his share of the annual profit, then find what was annual profit?

A. Rs.20000
B. Rs.28000
C. Rs.24000
D. Rs.32000
E. Rs.16000

Answer: C

Explanation:

15. Gaurav sold an article at a loss of 10%. If the selling price had been Rs. 125 more, there would have been a gain of 15%. The cost price of the article (in Rs.) was:

A. 250
B. 500
C. 300
D. 400
E. None

Answer: B

Explanation:

Let the Cost price of the article be Rs. x.
Then, Selling price = Rs. 0.9x
A.T.Q.:
⇒ 0.9x + 125 = 115% of x
⇒ 0.9x + 125 = (23/20)x
⇒ 18x + 2500 = 23x
⇒ 5x = 2500
⇒ x = Rs. 500 = Cost Price of the article

16. A fruit vendor makes a profit of 18% by selling raspberries at a certain price. If he charges ₹1 more for each raspberry, he can make a profit of 38%. Find the selling price at 38% profit.

A. ₹6.0
B. ₹5.9
C. ₹6.9
D. ₹5.0
E. None

Answer: C

Explanation:

Let the cost price of a raspberry be ₹x.
Then, selling price in first condition = (x) + (x) × 18% = x + 0.18x = 1.18x
And selling price in second condition = (x) + (x) × 38% = x + 0.38x = 1.38x
Now, as per question,
Selling price in first condition + ₹1 = Selling price in second condition
⇒ 1.18x + 1 = 1.38x
⇒ 1.38x – 1.18x = 1
⇒ 0.2x = 1
⇒ x = 1/0.2 = 5
Therefore, selling price in second condition = 1.38 × 5 = ₹6.9

17. A shopkeeper sells two watches for 5000. The cost price of 1st watch is equal to the selling price of 2nd watch. If the first watch is sold at a loss of 33.33% and the second watch is sold at the gain of 60%. Find the overall profit or loss.

A. Rs 125
B. Rs 150
C. Rs 200
D. Rs 185
E. None

Answer: A

Explanation:

Let the S.P of 1st watch be x then S.P of 2nd watch be 5000 – x
Now, C.P of 1st watch = S.P of 2nd watch = 5000 – x
Loss in 1st watch = 33.33% = 1/3
S.P of 1st watch = (5000 – x) – [(5000 – x) 1/3]
x = (15000 – 3x – 5000 + x)/3
5x = 10000
x = 2000
Now S.P of 2nd watch = 5000- 2000 = 3000
Profit = 60% so, C.P of 2nd watch = 3000 × 100/160 = Rs 1875
Therefore, total C.P = 3000 + 1875 = Rs 4875
Total Profit = 5000 – 4875 = Rs 125

18. A shopkeeper earns a profit of 25% after selling a book at 25% discount on the printed price. The ratio of the cost price and selling price of the book is:

A. 15 : 78
B. 12 : 15
C. 16 : 25
D. 17 : 20
E. None

Answer: B

Explanation:

19. Abhimanye sold a refrigerator for Rs 3675 after giving 25% discount on its marked price. Had he not given any discount, he would have earned a profit of 40%. What was the cost price of the article?

A. Rs 3890
B. Rs 3800
C. Rs 3500
D. Rs 3587
E. None

Answer: C

Explanation:

20. Mohit and Rohit enter into a partnership with Rs. 100000 and Rs. 120000 respectively. Puneet joins them after ‘m’ months contributing Rs. 140,000 and Rohit leaves ‘m’ months before the end of the year. If they share the profit in the ratio of 20:18:21, then find the value of m:

A. 6 months
B. 9 months
C. 3 months
D. 5 months
E. None

Answer: C

Explanation:

21. A person marks his goods x% above the cost price and allows a discount of 30% on the marked price. If his profit is 5%, then the value of x will be:\

A. 50
B. 60
C. 45
D. 35
E. None

Answer: A

Explanation:

22. A invest 1/6 part of total capital for 1/3 time. B invest 1/3 part of total capital for 1/4 time and C invest the rest capital for full time. If the total profit is Rs. 69000 then find the share of B.

A. 12000
B. 10000
C. 9000
D. 3000
E. None

Answer: C

Explanation:

23. The cost price of an article is Rs 425. A shopkeeper gives a discount of 20% and still gains 16%. What is the marked price of the article?

A. Rs 605.75
B. Rs 620.50
C. Rs 624.50
D. Rs 616.25
E. None

Answer: D

Explanation:

24. A shopkeeper bought two cycles in Rs. 1700. If he sold first cycle at 30% profit and second at 20% profit, he earns a certain profit. If he sold first cycle at 20% profit and second at 30% profit then he gets Rs. 30 Less. The price of both cycle is?

A. 1200, 500
B. 900, 800
C. 1000, 700
D. 1050, 650
E. None

Answer: C

Explanation:

25. By selling an article for Rs. 1380, a man incurs a loss of1427% What should be the selling price of that article to gain 1427%.

A. 1720
B. 1580
C. 1640
D. 1840
E. None

Answer: D

Explanation:

26. A sold a thing to B at 20% profit and B sold it to C at 25% profit. If C paid Rs 255, find out the cost price for A(in Rs)?

A. 170
B. 150
C. 190
D. 130
E. None

Answer: A

Explanation:

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Profit and Loss Aptitude Questions and Answers

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Profit and Loss Formulas

In this article, we have given some of the Profit and Loss Formulas. So, all the candidates who are interested in checking the formulas can check them from this section.

Gain % = (Gain / CP) * 100
SP = [(100 + Gain%) / 100] * CP
Loss % = (Loss / CP) * 100
SP = [(100 – Loss %) / 100]*CP
SP: Selling Price
CP: Cost Price

Profit & Loss Video Explanation

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Profit and Loss Aptitude Questions and Answers | MCQ Problems

Profit and Loss Quiz Online Test Details

Profit and Loss MCQ Problems – Practice Now

Profit and Loss Aptitude Questions and Answers

Profit and Loss Formulas

Profit & Loss Video Explanation

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