## Profit And Loss MCQ’S

## Results

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### #1. A shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed price. The ratio of the cost price and the printed price of the book is:

**Option A**

### #2. By selling a bicycle for Rs. 2,850, a shopkeeper gains 14%. If the profit is reduced to 8%, then the selling price will be:

**Option B**

Let Cost Price was X.

X 14% of X = 2850

X 14X/100

= 2850

X 0.14X = 2850

1.14X = 2850

X = 2500.

So, Cost Price = Rs. 2500.

Now, Selling Price When profit remains at 8%,

= 2500 8% of 2500

= Rs. 2700.

**Short-Cut**

CP of bicycle =

SP for a profit of 8% =

### #3. A sells an article to B at a profit of 10% B sells the article back to A at a loss of 10%. In this transaction:

**Option B**

**First Method**

Let CP was 100 for A originally

A sells article to B at 10% profit,

CP for B = 100 10% of 100 = 110

Now, B sells it A again with loss 10%

Now, CP for A this time = 110 – 10% of 110 = 99

A makes Profit = 110 – 99 = 11

%profit for A =

**Second Method**

It could be easily shown by net percentage change graphic.

100(A) == 10%(Profit) ⇒110(B) == 10%(Loss) ⇒ 99(A)

In this transaction A makes a profit of (110 – 99 = 11%) 11%

[10% on selling to B and 1% profit on buying back from B]

### #4. A person sold a horse at a gain of 15%. Had he bought it for 25% less and sold it for Rs. 600 less, he would have made a profit of 32%. The cost price of the horse was:

**Option A**

### #5. If a man were to sell his chair for Rs. 720, he would lose 25%. To gain 25% he should sell it for:

**Option A**

Let the Cost price of the Chair is X.

SP = X – 25% of X

720 = 0.75X

X = 960

CP = Rs. 960

So, To gain 25%, SP would be

= 960 25% of 960 =Rs. 1200

**Short-cut**

CP of chair =

To gain 25%, SP =

### #6. A man sold two chairs at Rs. 1,200 each. On one he gained 20% and on the other he lost 20%. His gain or loss in the whole transaction is:

**Option C**

In the case where loss and gain percentage is common on same selling price, always a loss incurs in total deal. And this can be calculated by a short-cut:

Loss on total deal,

**Alternatively**, It can be also calculated through Graphic Change Method: This can be given by,

100 == 20% gain ⇒ 120 == 20% loss ⇒ 96

Loss = 4% (As 100 became 96)

### #7. A shopkeeper marks his goods 30% above his cost price but allows a discount of 10% at the time of sale. His gain is:

**Option D**

Let the cost price be Rs. 100

then the mark up price which is 30% above the cost price,

Mark price = (100 30% of 100) = Rs. 130

Shopkeeper gives a discount of 10% on mark up price, then the

Selling Price = (130 – 10% of 130) = Rs. 117

Gain = 117 – 100 = Rs. 17

**Short Cut method:**

100(CP) == 30%↑ ⇒ 130(MP) == 10%↓ ⇒ 117(SP)

Gain = 17%

### #8. If the profit per cent got on selling an article is numerically equal to its cost price in rupees and the selling price is Rs. 39, then cost price (in Rs.) will be:

**Option D**

SP = Rs. 39

CP = x(let)

Profit % = CP

(we cannot take negative value of X)

### #9. A man buys a field of agricultural land for Rs. 3,60,000. He sells one-third at a loss of 20% and two-fifths at a gain of 25%. At what price must he sell the remaining field so as to make an overall profit of 10%?

**Option C**

**First Method:****Rs.120000**

**SecondMethod:****Rs.120000**

### #10. An article is listed at Rs. 920. A customer pays Rs. 742.90 for it after getting two successive discounts. If the rate of first discount is 15%, the rate of 2nd discount is:

**Option B**

MP = 920

After first discount Marked Price (MP) become,

= 920 – 15% of 920 = 782

The Selling Price (SP) = 742.90

Let second discount was x% on 782

782 – x% of 782 = 742.90

= 39.1

782x = 3910

x = 5%

Second Discount = 5%

**Short-Cut**

920 == 15%(1^{st} discount)) == 782 == x%↓(2^{nd} discount) ⇒ 742.90

Then,