Profit And Loss Aptitude Mcq Model Questions & Answers, Practice Test for ssc chsl tier 1 2024

Question :1

A got 30% concession on the label price of an article and sold for Rs. 8,750 with 25% profit on the price he bought. The label price was

Answer: (d)

Let CP of article = 100

Profit% = 25%

${CP}/{SP} = 100/125$ 25% Profit

CP - 100 × 70 → 7000

SP - 125 × 70 → 8750

${CP}/{MP} = 70/100$ 30% Profit

CP - 70 × 100 → 7000

MP - 100 × 100 → 10000

Question :2

A man buys 12 articles for Rs. 12- and sells them at the rate of Rs. 1.25 per article. His gain percentage is :

Answer: (a)

According to question,

CP of 12 articles = Rs. 12

CP of 1 articles = Rs. 1

SP of 1 article = Rs. 1.25

Profit = SP – CP

Profit = Rs. (1.25 - 1) = 0.25

Profit% = ${Profit}/{CP} × 100$

= $0.25/1 × 100 = 25%$

Question :3

lf there is a profit of 20% on the cost price of an article, the percentage of profit calculated on its selling price will be

Answer: (a)

According to question,

20% profit on CP = ${1 → Profit}/{5 → CP}$

Thus, SP = CP + Profit

SP = 5 + 1

SP = 6

Percentage of profit calculated on SP

Profit% = ${Profit}/{SP}$ × 100

= $1/6 × 100 = 16 {2}/3%$

Question :4

A milkman bought 70 litres of milk for Rs. 630 and added 5 litres of water. If the sells it at Rs. 9.00 per litre, his profit percentage is

Answer: (d)

According to question,

CP of 70 liters of milk = Rs. 630

Added 5 liters of water,

Now, solution becomes = 75 liters

CP of water = Rs. 0

Thus, SP of 1 liter milk = Rs. 9

SP of 75 liters milk = 9 × 75 = 675 Rs.

Profit = SP – CP

= 675 – 630 = 45

Profit% = $45/630 × 100 = 50/7 = 7{1}/7%$

Question :5

While selling to the retailer, a company allows 30% discount on the marked price of their products. If the retailer sells those products at marked price , his profit will be :

Answer: (d)

Let the Marked price = 100 unit

According to question,

100 (MP) $→↙{30% discount}$ 70 (SP)

→ CP of retailer

CP sold at MP = 100

Profit = MP - CP = 100 - 70

= 30 units profit

Profit % = $30/70$ × 100

= 42 $6/7$%

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