Profit & Loss Quants MCQs with Answer - Exercise III


Ques 1 Profit and Loss

An article is listed at Rs. 900 and two successive discounts of 8% and 8% are given on it. How much would the seller gain or lose, if he gives a single discount of 16%, instead of two discounts?
  a) Gain, Rs. 4.76
  b) Loss, Rs. 5.76
  c) Gain, Rs. 5.76
  d) Loss, Rs. 4.76


b is the correct option




Ques 2 Profit and Loss

A trader wishes to gain 20% after allowing 10% discount on the market price to his customers. At what percent higher than the cost price must he marks his goods?
  a) 30%
  b) 100/3%
  c) 104/3%
  d) 35%


b is the correct option
The trader wishes to gain 20%.
The trader allows a 10% discount to customers.
Selling price after a 10% discount.
Selling price after 10% discount = 100 - (10% of 100) = 100 - 10 = 90 units
Selling price after gaining a 20% profit.
Let "x" be the selling price after the trader gains a 20% profit. So,
x=Cost Price+Profit
x=100+20% of 100
x=100+(20/100)×100
x=100+20
x=120
Now, the selling price after both the 10% discount and 20% profit is 120 units.
Markup percentage = (Selling Price−Cost Price)/Cost Price*100
Markup percentage = (120−100)/100×100
Markup percentage = 20
So, the trader must mark his goods at 20% higher than the cost price. Therefore, the correct answer is:
b) 100/3




Ques 3 Profit and Loss

If the S.P. of an article for is 4/3 times its C.P. the profit percent is>
  a) (1/3)%
  b) 20(1/2)%
  c) 33(1/3)%
  d) 25(1/2)%


c is the correct option




Ques 4 Profit and Loss

By selling an article for Rs. 19.50, a dealer makes a profit of 30%. By how much should he increase his S.P. so as to make a profit of 40%?
  a) Rs. 1.50
  b) Rs. 2.60
  c) Rs. 3.50
  d) Rs. 4.70


a is the correct option




Ques 5 Profit and Loss

A dealer professing to sell his goods at C.P., uses a 900-gm weight for a kg. His gain percent is
  a) (75/9)%
  b) (100/9)%
  c) (110/9)%
  d) (101/9)%


c is the correct option