Numerical: profit and loss MCQ — 7 Practice Questions with Answers

Explanation

Let the common selling price be 100 for each goat. On the goat sold at a 10% profit, the cost price is 100/1.10 = 90.91. On the goat sold at a 10% loss, the cost price is 100/0.90 = 111.11. Total cost price is 202.02 and total selling price is 200, so there is a loss of about 2.02 on 202.02, which is 1%. Therefore neither no-profit-no-loss nor any profit is possible, and a 2% loss overstates the loss.

Explanation

The cost price of one article is ₹ 5 divided by 6. The selling price of one article is ₹ 6 divided by 4, which is ₹ 1.50. Profit on one article is ₹ 1.50 minus ₹ 5/6, or ₹ 2/3. Gain percentage is profit divided by cost price, then multiplied by 100: (₹ 2/3) ÷ (₹ 5/6) × 100 = 80%. The values 29%, 65% and 72% do not follow from the unit cost and unit selling price comparison.

Explanation

When the profit at Rs. 680 equals the loss at Rs. 426, the cost price lies exactly midway between the two selling prices. So, cost price = (680 + 426) / 2 = Rs. 553. The question asks for half of 50% of the cost price, which is 25% of Rs. 553. That gives 553 / 4 = Rs. 138.25. Rs. 190, Rs. 150 and Rs. 148.25 do not match one-fourth of the computed cost price.

Explanation

A loss of 25% means the selling price is 75% of the cost price. Therefore ₹ 69.60 = 75% of the cost price. The cost price is 69.60 × 100 / 75 = ₹ 92.80. If the cost price were ₹ 88.80, ₹ 94.80, or ₹ 90.20, then 75% of those amounts would not equal ₹ 69.60. Hence ₹ 92.80 is the only value consistent with a 25% loss at the given selling price.

Explanation

A selling price of ₹ 1,800 gives a 25% loss, so ₹ 1,800 is 75% of the cost price. The cost price is therefore ₹ 1,800 ÷ 0.75 = ₹ 2,400. If the article is sold for ₹ 3,200, the profit is ₹ 800. Profit percentage is ₹ 800 on ₹ 2,400, which is 1/3 or 33 1/3%. Hence 33 1/3% is correct. The percentages 25%, 35% and 30% do not match this cost-price calculation.