Profit and Loss Mcqs

On an order of 5 dozen boxes of a consumer product, a retailer receives an extra dozen free. This is equivalent to allowing him a discount of:________?

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On an order of 5 dozen boxes of a consumer product, a retailer receives an extra dozen free. This is equivalent to allowing him a discount of:________?

A. 15%
B. 16 1/6%
C. 16 2/3%
D. 20%
Explanation:
Clearly, the retailer gets 1 dozen out of 6 dozens free.
Equivalent discount = 1/6 * 100 = 16 2/3%.

If the selling price of 50 articles is equal to the cost price of 40 articles, then the loss or gain percent is:

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If the selling price of 50 articles is equal to the cost price of 40 articles, then the loss or gain percent is:

A. 20% loss
B. 20% gain
C. 25% loss
D. 25% gain
Explanation:
Let C.P. of each article be Re. 1.
Then, C.P. of 50 articles = Rs. 50;
S.P. of 50 articles = Rs. 40.
Loss % = 10/50 * 100 = 20%

The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

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The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?

A. Rs. 2000
B. Rs. 2200
C. Rs. 2400
D. None of these
Explanation:
Let C.P. be Rs. x.
Then, (1920 – x)/x * 100 = (x – 1280)/x * 100
1920 – x = x – 1280
2x = 3200 => x = 1600
Required S.P. = 125 % of Rs. 1600 = 125/100 * 1600 = Rs. 2000.

The profit earned by selling an article for Rs. 832 is equal to the loss incurred when the same article is sold for Rs. 448. What should be the sale price for making 50% profit?

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The profit earned by selling an article for Rs. 832 is equal to the loss incurred when the same article is sold for Rs. 448. What should be the sale price for making 50% profit?

A. Rs. 920
B. Rs. 960
C. Rs. 1060
D. Rs. 1200
Explanation:
Let C.P. = Rs. x.
Then, 832 – x = x – 448
2x = 1280 => x = 640
Required S.P. = 150% of Rs. 640 = 150/100 * 640 = Rs. 960.

In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

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In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

A. 30%
B. 70%
C. 100%
D. 250%
Explanation:
Let C.P. = Rs. 100. Then, profit = Rs. 320, S.P. = Rs. 420
New C.P. = 125% of Rs. 100 = Rs. 125.
New S.P. = Rs. 420
Profit = 420 – 125 = Rs. 295
Required percentage = 295/420 * 100 = 1475/21 = 70%

A man gains 20% by selling an article for a certain price. If the sells it at double the price, the percentage of profit will be:________?

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A man gains 20% by selling an article for a certain price. If the sells it at double the price, the percentage of profit will be:________?

A. 40
B. 100
C. 120
D. 140
Explanation:
Let C.P. = Rs. x.
Then, S.P. = Rs. (12% of x) = Rs. 6x/5
New S.P. = 2 * 6x/5 = Rs. 12x/5
Profit = 12x/5 – x = Rs. 7x/5
Profit = 7x/5 * 1/x * 100 = 140%.