Profit And Loss – mcqpedia.in

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[Concept: Basic Profit %] A shopkeeper buys a chair for Rs 250 and sells it for Rs 290. What is his profit percentage?

Explanation: Formula: Profit% = [(SP – CP) / CP] * 100%. Here, Profit = 290 – 250 = 40. Profit% = (40 / 250) * 100% = 16%.

[Concept: Basic Loss %] A man bought a bicycle for Rs 475 and sold it for Rs 399. What is his loss percentage?

Explanation: Formula: Loss% = [(CP – SP) / CP] * 100%. Here, Loss = 475 – 399 = 76. Loss% = (76 / 475) * 100% = 16%.

[Concept: Mark-up Percentage] The cost price of an article is Rs 500 and its marked price is Rs 800. What is the mark-up percentage?

Explanation: Formula: Mark-up% = [(MP – CP) / CP] * 100%. Here, Mark-up = 800 – 500 = 300. Mark-up% = (300 / 500) * 100% = 60%.

[Concept: Mark-up Percentage] A dealer buys an item for Rs 1200 and marks it at Rs 1500. Find the mark-up percentage.

Explanation: Formula: Mark-up% = [(MP – CP) / CP] * 100%. Here, Mark-up = 1500 – 1200 = 300. Mark-up% = (300 / 1200) * 100% = (1/4) * 100% = 25%.

[Concept: SP from CP and Profit %] A shopkeeper wants to earn a 15% profit on an article costing Rs 200. What should be the selling price?

Rs 230
Rs 215
Rs 250
Rs 240

Explanation: Formula: SP = CP * [(100 + Profit%) / 100]. SP = 200 * (115 / 100) = 200 * 1.15 = Rs 230.

[Concept: SP from CP and Loss %] An item is bought for Rs 400. If it is sold at a 35% loss, what is the selling price?

Rs 260
Rs 280
Rs 250
Rs 300

Explanation: Formula: SP = CP * [(100 – Loss%) / 100]. SP = 400 * (65 / 100) = 400 * 0.65 = Rs 260. (Or 35% of 400 is 140, SP = 400 – 140 = 260).

[Concept: Successive Profits] A sells a bicycle to B at a 20% profit, and B sells it to C at a 25% profit. What is the overall profit percentage?

Explanation: Formula: Total Profit% = (a + b + ab/100)%. Here, (20 + 25 + (20*25)/100)% = 45 + 5 = 50%.

[Concept: Successive Losses] An item is subject to two successive losses of 10% and 20%. What is the net loss percentage?

Explanation: Formula for total loss%: -a – b + (ab/100). Here, -10 – 20 + (10*20)/100 = -30 + 2 = -28%. The negative sign indicates a 28% loss.

[Concept: CP of ‘x’ = SP of ‘y’] If the cost price of 15 articles is equal to the selling price of 12 articles, what is the profit percentage?

Explanation: Formula: Profit% = [(x – y) / y] * 100. Here, x = 15, y = 12. Profit% = [(15 – 12) / 12] * 100 = (3 / 12) * 100 = (1/4) * 100 = 25%.

[Concept: CP of ‘x’ = SP of ‘y’] If the cost price of 20 books is equal to the selling price of 25 books, what is the loss percentage?

Explanation: Formula: Loss% = [(y – x) / y] * 100. Here, x = 20, y = 25. Loss% = [(25 – 20) / 25] * 100 = (5 / 25) * 100 = (1/5) * 100 = 20%.

[Concept: Profit = SP of ‘y’ articles] On selling 12 articles, a vendor gains a profit equal to the selling price of 4 articles. What is his profit percentage?

50%
33.33%
40%
25%

Explanation: Formula: Profit% = [y / (x – y)] * 100. Here, x = 12 (sold), y = 4 (profit SP). Profit% = [4 / (12 – 4)] * 100 = (4 / 8) * 100 = 50%.

[Concept: Loss = SP of ‘y’ articles] On selling 30 pens, a shopkeeper incurs a loss equal to the selling price of 6 pens. What is his loss percentage?

16.66%
20%
25%
15%

Explanation: Formula: Loss% = [y / (x + y)] * 100. Here, x = 30 (sold), y = 6 (loss SP). Loss% = [6 / (30 + 6)] * 100 = (6 / 36) * 100 = (1/6) * 100 = 16.66%.

[Concept: Same % Profit & Loss on 2 Items] A man sells two similar objects at Rs 5000 each. On one, he gains 20%, and on the other, he loses 20%. What is his overall profit or loss percentage?

4% Loss
No Profit No Loss
4% Profit
2% Loss

Explanation: Concept: If a man sells two similar objects, one at a loss of x% and another at a gain of x%, he ALWAYS incurs a loss. Formula: Loss% = (x^2 / 100)%. Here, (20^2) / 100 = 400 / 100 = 4% Loss.

[Concept: Same % Profit & Loss on 2 Items] A dealer sells two cars at the same price. He makes a 10% profit on the first and a 10% loss on the second. Find the net profit/loss percentage.

1% Loss
No Profit No Loss
1% Profit
2% Loss

Explanation: Using the formula: Loss% = (x^2 / 100)%. Here, x = 10. Loss% = (10^2) / 100 = 100 / 100 = 1% Loss.

[Concept: Change in SP changes Profit %] A man sells his items at a 10% profit. If he had sold it for Rs 40 more, he would have gained 15%. What is the cost price of the item?

Rs 800
Rs 1000
Rs 600
Rs 1200

Explanation: Formula: CP = [R / (y – x)] * 100 (when both are profits). Here, R = 40, x = 10, y = 15. CP = [40 / (15 – 10)] * 100 = (40 / 5) * 100 = 8 * 100 = Rs 800.

[Concept: Change in SP changes Profit %] A shopkeeper sells a watch at a 5% loss. If he had sold it for Rs 100 more, he would have made a 5% profit. Find the cost price.

Rs 1000
Rs 800
Rs 1200
Rs 500

Explanation: Formula: CP = [R / (y + x)] * 100 (when one is profit and one is loss). Here, R = 100, x = 5 (loss), y = 5 (profit). CP = [100 / (5 + 5)] * 100 = (100 / 10) * 100 = Rs 1000.

[Concept: Buy ‘a’ for ‘x’, Sell ‘b’ for ‘y’] A man purchases 5 lemons for Rs 4 and sells 4 lemons for Rs 5. What is his profit percentage?

56.25%
50%
45.5%
60%

Explanation: Formula: Profit% = [(ay – bx) / bx] * 100%. Here, a=5, x=4, b=4, y=5. Profit% = [(5*5 – 4*4) / (4*4)] * 100 = [(25 – 16) / 16] * 100 = (9/16) * 100 = 56.25%.

[Concept: Buy ‘a’ for ‘x’, Sell ‘b’ for ‘y’] A vendor buys 6 bananas for Rs 5 and sells 5 bananas for Rs 6. Find his profit percentage.

Explanation: Formula: Profit% = [(ay – bx) / bx] * 100%. Here, a=6, x=5, b=5, y=6. Profit% = [(6*6 – 5*5) / (5*5)] * 100 = [(36 – 25) / 25] * 100 = (11/25) * 100 = 44%.

[Concept: Dishonest Shopkeeper] A dishonest shopkeeper professes to sell his goods at cost price but uses a 750 gm weight instead of 1000 gm. What is his profit percentage?

33.33%
25%
30%
20%

Explanation: Formula: Gain% = [(True weight – False weight) / False weight] * 100. Gain% = [(1000 – 750) / 750] * 100 = (250 / 750) * 100 = (1/3) * 100 = 33.33%.

[Concept: Dishonest Shopkeeper] A merchant claims to sell rice at cost price but uses a 900 gm weight for 1 kg. What is his actual gain percentage?

11.11%
10%
9.09%
12.5%

Explanation: Formula: Gain% = [(True weight – False weight) / False weight] * 100. Here, True weight = 1000g, False weight = 900g. Gain% = [(1000 – 900) / 900] * 100 = (100 / 900) * 100 = (1/9) * 100 = 11.11%.

[Concept: Dishonest Shopkeeper + Loss] A vendor sells his goods at a 13% loss on cost price but uses 150 gm instead of 200 gm. What is his actual profit/loss percentage?

16% Profit
13% Loss
16% Loss
10% Profit

Explanation: Formula: [(100 – loss%) * (True Weight / False Weight) – 100]%. Here: [(100 – 13) * (200 / 150) – 100]% = [87 * (4/3) – 100]% = [116 – 100]% = +16%. Since the result is positive, it is a 16% Profit.

[Concept: Dishonest Shopkeeper + Loss] A shopkeeper sells sugar at a 10% loss but uses an 800 gm weight instead of 1000 gm. Find his actual profit/loss percentage.

12.5% Profit
10% Loss
15% Profit
12.5% Loss

Explanation: Formula: [(100 – loss%) * (True Weight / False Weight) – 100]%. Here: [(100 – 10) * (1000 / 800) – 100]% = [90 * (5/4) – 100]% = [112.5 – 100]% = +12.5%. Positive sign indicates a 12.5% Profit.