Profit and Loss Mcqs

If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425. What is the greatest possible profit that might be made in selling 8 books?

by
If books bought at prices ranging from Rs. 200 to Rs. 350 are sold at prices ranging from Rs. 300 to Rs. 425. What is the greatest possible profit that might be made in selling 8 books?

A. Rs. 400
B. Rs. 600
C. Cannot be determined
D. None of these
Explanation:
Profit is maximum when C.P is minimum and S.P Maximum.
Thus, C.P = Rs. (200 × 8) = Rs. 1600
S.P = Rs. (425 × 8) = Rs. 3400
Gain = Rs. 1800

A shopkeeper sold an article offering a discount of 5% and earned a profit of 23.5%. What would have been the percentage of profit earned if no discount was offered?

by
A shopkeeper sold an article offering a discount of 5% and earned a profit of 23.5%. What would have been the percentage of profit earned if no discount was offered?

A. 24.5
B. 28.5
C. 30
D. Data inadequate
E. None of these
Explanation:
Let C.P. be Rs. 100.
Then, S.P. = Rs. 123.50
Let marked price be Rs. x. Then, 95/100 x = 123.50
x = 12350/95 = Rs. 130
Now, S.P. = Rs. 130, C.P. = Rs. 100
Profit % = 30%.

By selling an umbrella for Rs. 300, a shop keeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% on the marked price. His gain percent during the sale is:________?

by
By selling an umbrella for Rs. 300, a shop keeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% on the marked price. His gain percent during the sale is:________?

A. 7
B. 7.5
C. 8
D. 9
Explanation:
Marked price = Rs. 300
C.P. = 100/120 * 300 = Rs. 250
Sale price = 90% of Rs. 300 = Rs. 270
Required gain % = 20/250 * 100 = 8%.

The price of a VCR is marked at Rs. 12,000. If successive discounts of 15%, 10% and 5% be allowed, then at what price does a customer buy it?

by
The price of a VCR is marked at Rs. 12,000. If successive discounts of 15%, 10% and 5% be allowed, then at what price does a customer buy it?

A. Rs. 8400
B. Rs. 8721
C. Rs. 8856
D. None of these
Explanation:
Actual price = 95% of 90% of 85% of Rs. 12000
= 95/100 * 90/100 * 85/100 * 12000 = Rs. 8721.

Aleem buys 4 horses and 9 cows for Rs. 13,400. If he sells the horses at 10% profit and the cows at 20% profit, then he earns a total profit of Rs. 1880. The cost of a horse is:_________?

by
Aleem buys 4 horses and 9 cows for Rs. 13,400. If he sells the horses at 10% profit and the cows at 20% profit, then he earns a total profit of Rs. 1880. The cost of a horse is:_________?

A. Rs. 1000
B. Rs. 2000
C. Rs. 2500
D. Rs. 3000
Explanation:
Let C.P. of each horse be Rs. x and C.P. of each cow be Rs. y.
Then, 4x + 9y = 13400 — (i)
And, 10% of 4x + 20% of 9y = 1880
2/5 x + 9/5 y = 1880 => 2x + 9y = 9400 — (ii)
Solving (i) and (ii), we get : x = 2000 and y = 600.
Cost price of each horse = Rs. 2000.