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SSC MTS / SSC GD Exam  >  SSC MTS / SSC GD Tests  >  Numerical Aptitude for SSC Exams  >  Test: Profit and Loss- 1 - SSC MTS / SSC GD MCQ

Test: Profit and Loss- 1 - SSC MTS / SSC GD MCQ


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20 Questions MCQ Test Numerical Aptitude for SSC Exams - Test: Profit and Loss- 1

Test: Profit and Loss- 1 for SSC MTS / SSC GD 2024 is part of Numerical Aptitude for SSC Exams preparation. The Test: Profit and Loss- 1 questions and answers have been prepared according to the SSC MTS / SSC GD exam syllabus.The Test: Profit and Loss- 1 MCQs are made for SSC MTS / SSC GD 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Profit and Loss- 1 below.
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Test: Profit and Loss- 1 - Question 1
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Vinod incurred a loss of 45 per cent on selling an article for Rs. 3740. What was the cost price of the article.

Detailed Solution for Test: Profit and Loss- 1 - Question 1

Loss = 45%
⇒ 0.55 x Cost price = 3,740
Cost price = 3740/0.55 = 6800
Hence, option E is the right answer.

Test: Profit and Loss- 1 - Question 2
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Meera incurred a loss of 40 per cent on selling an article for Rs. 5700/-. What was the cost of the article.

Detailed Solution for Test: Profit and Loss- 1 - Question 2

Let Cost Price of article be x

Cost Price of the article is ₹ 9,500.

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Test: Profit and Loss- 1 - Question 3
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The marked price of a book is Rs. 160 and it is sold for Rs. 136. What was the rate of discount.

Detailed Solution for Test: Profit and Loss- 1 - Question 3

Given:

Marked Price = Rs.160

Selling Price = Rs. 136

Formula used:

Discount = M.P − S.P

Where, M.P = Marked Price 

S.P = Selling Price

Discount% = [(Discount/M.P) × 100]

Calculation:

Discount = M.P − S.P

⇒ 160 − 136 = Rs.24

According to the question:

Discount% = [(Discount/M.P) × 100]

⇒ Discount% = [(24/160) × 100] = 15%

∴ The rate of discount is 15%.

Test: Profit and Loss- 1 - Question 4
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A man buys an article for Rs. 300 and sells it for Rs. 900. Find his gain per cent
Detailed Solution for Test: Profit and Loss- 1 - Question 4
  • Cost Price (C.P.) = Rs. 300
  • Selling Price (S.P.) = Rs. 900

Step 1: Find the Gain

  • Gain = S.P. - C.P.
  • Gain = Rs. 900 - Rs. 300 = Rs. 600

Step 2: Calculate Gain Percent using the formula:

The man's gain percentage is 200%.

Test: Profit and Loss- 1 - Question 5
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A man buys a toy for Rs. 50 and sells it for Rs. 80. What is his gain per cent.  
Detailed Solution for Test: Profit and Loss- 1 - Question 5
  • Cost Price (C.P.) = Rs. 50
  • Selling Price (S.P.) = Rs. 80

Step 1: Find the Gain

  • Gain = S.P. - C.P.
  • Gain = Rs. 80 - Rs. 50 = Rs. 30

Step 2: Calculate Gain Percent using the formula:

The man's gain percentage is 60%.

Test: Profit and Loss- 1 - Question 6
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A man buys a bicycle for Rs. 450 and sells it for Rs. 300. Find his loss per cent.
Detailed Solution for Test: Profit and Loss- 1 - Question 6
  • Cost Price (C.P.) = Rs. 450
  • Selling Price (S.P.) = Rs. 300

Step 1: Find the Loss

  • Loss = C.P. - S.P.
  • Loss = Rs. 450 - Rs. 300 = Rs. 150

Step 2: Calculate Loss Percent using the formula:

The man's loss percentage is 33.33%.

Test: Profit and Loss- 1 - Question 7
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A shopkeeper marks a saree 20% above the cost price and allows a discount to the purchases of 10%. What profit percent does he make.
Detailed Solution for Test: Profit and Loss- 1 - Question 7

Given:

Marked price = 20% above the cost price

Discount = 10%

Formula used:

S.P. = [(100 - Discount%)/100] × C.P.

Gain% = [(S.P. - C.P.)/C.P.] × 100

Where, C.P. = Cost price; S.P. = Selling price

Calculation:

Let, the cost price = Rs. 100

So, the marked price = 100 + (20% of 100) = Rs. 120

Then, the selling price = 120 × (90/100) = 108

Gain percentage = [(108 - 100)/100] × 100 = 8%

∴ The profit percentage is 8%

Test: Profit and Loss- 1 - Question 8
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By selling an article for Rs. 480 a person lost 20%. For how much should he sell it to make a profit of 20%.
Detailed Solution for Test: Profit and Loss- 1 - Question 8

Given: Selling price = 480

Percentage loss = 20%

To make a profit = 20%

Concept Used: Cost price
Calculation:

Cost price = 600

If he wants to make a profit of 20% 

He has to sell the product at 120% of the cost price.

So, New Selling price = 120% of 600

New Selling price to make 20% profit = 720 Rs.

Test: Profit and Loss- 1 - Question 9
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The selling price of 5 article is the same as the cost price of 3 article. The gain or loss per cent is
Detailed Solution for Test: Profit and Loss- 1 - Question 9

According to question , we have
C.P. of 3 articles = S.P. of 5 articles

Loss = S.P. - C.P. = 5 - 3 = $ 2

Loss% = 2 × 20 = 40%
Second method to solve this question:
Here, p = 3, q = 5


Loss% = 40%

Test: Profit and Loss- 1 - Question 10
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A book seller bought 200 text book for Rs. 12000. He wanted to sell them at a profit so that he is left with 20 books as free. At what profit percent he sold them?
Detailed Solution for Test: Profit and Loss- 1 - Question 10

According to question,

CP of 200 book = 12000

CP of 1 book =  12000 / 200

= Rs. 60

To get 20 books free

Profit = 20 x 60 = 1200

i.e. 10% of Rs. 12000

⇒10% gain

Test: Profit and Loss- 1 - Question 11
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A merchant finds that the CP of 2750 coconuts to be the same as the selling price of 2500 coconuts. Find the percent gain or loss.
Detailed Solution for Test: Profit and Loss- 1 - Question 11

According to the question,
2750 Cost Price = 2500 Selling Price

Test: Profit and Loss- 1 - Question 12
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A fair price shopkeeper taken 10% profit on his goods. He lost 20% goods during theft. His loss per cent is
Detailed Solution for Test: Profit and Loss- 1 - Question 12

Formula used:
Net profit/Loss = x + y + (xy/100
Calculation:
(We will use positive sign with an increasing/profit percentage and negative sign with an decreasing/loss percentage))
Loss% = +10 - 20 + [10 × (-20)]/100
⇒ Loss% = -10 - (200/100)
⇒ Loss% = -10 - 2 = -12 (Negative sign shows loss)
∴ His loss percentage is 12%

Test: Profit and Loss- 1 - Question 13
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A man sold 18 cots for Rs. 16800, gaining there by the cost price of 3 cots. Find the cost price of a cot. 
Detailed Solution for Test: Profit and Loss- 1 - Question 13

(S.P of 18 cots) - (C.P of 18 cots) = (C.P. of 3 cots)
C.P. of 21 cots = S.P. of 18 cots = Rs. 16800
Price of 1 cot = 16800/21 = 800rs

Test: Profit and Loss- 1 - Question 14
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Raghu purchased a scooter at 13/15th of its selling price and sold it for 12% more than the selling price. His gain is
Detailed Solution for Test: Profit and Loss- 1 - Question 14

According to the question,


If they sold 12% more then its, old selling price.
So, new selling price is

= 16.8
∴ Profit = Selling price - Cost price
              = 16.8 - 13
              = 3.8

Test: Profit and Loss- 1 - Question 15
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The marked price of a pen is Rs. 60. After allowing a discount of 10% the merchant makes a profit of 20% what is the cost price of the pen.
Detailed Solution for Test: Profit and Loss- 1 - Question 15

Marked price = 60rs.
discount = 10%
profit= 20%
then,
SP = 90% of 60 = 54
CP = (100/100 + 20) × SP
= (100/120) × 54
= Rs. 45

Test: Profit and Loss- 1 - Question 16
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A shopkeeper offers 10% discount on an article and still makes a profit of 20% what is the cost price of the article marked at Rs. 500?
Detailed Solution for Test: Profit and Loss- 1 - Question 16

Given:

A shopkeeper offers 10% discount and still makes a profit of 20%

Marked Price = Rs. 500

Formula used:

Marked Price (100 - Discount) = Cost Price (100 + Profit)

Calculation:

Marked Price (100 - Discount) = Cost Price (100 + Profit)

500 (100 - 10) = Cost Price (100 + 20)

500 (90) = Cost Price (120)

= 125 × 3

= 375

Answer is Rs. 375.

Test: Profit and Loss- 1 - Question 17
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A dealer marked his goods 25% above the CP, and allows a 10% discount to his customers. What is his gain per cent.
Detailed Solution for Test: Profit and Loss- 1 - Question 17

Cost Price (CP): Assume CP = 100.
Marked Price (MP): MP = CP + 25% of CP = 100 + (25% of 100) = 100 + 25 = 125.
Selling Price (SP): Discount = 10% of MP = 10% of 125 = 12.5.
SP = MP - Discount = 125 - 12.5 = 112.5.
Gain: Gain = SP - CP = 112.5 - 100 = 12.5.
Gain Percentage: 
Gain Percentage = (Gain divided by CP) multiplied by 100 = (12.5 divided by 100) multiplied by 100 = 12.5%.
The dealer's gain percentage is 12.5%.

Test: Profit and Loss- 1 - Question 18
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The cost of manufacturing of articles is Rs. 900. Trader wants to gain 25% after giving a discount of 10%. The marked price should be
Detailed Solution for Test: Profit and Loss- 1 - Question 18

Here , CP of article = ₹ 900 , discount = 10%
∴  After 25% gain , S.P. of article = 125% of 900

Let the marked price be y
∴  90% of y = 1125

Test: Profit and Loss- 1 - Question 19
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A shopkeeper purchases 12 baloons for Rs. 10 and sells them at 10 baloons for Rs. 12. He earns a profit of
Detailed Solution for Test: Profit and Loss- 1 - Question 19

The correct option is C.
C.P of 12 balloons = 10
C.P of 1 balloon = 10/12 = 5/6
S.P of 10 balloons = 12
S.P of 1 balloon = 12/10 = 6/5
Profit = S.P - C.P
= 6/5 - 5/6
= (36 - 25)/30
= 11/30
Profit % = ( Profit/C.P ) × 100
= {(11/30)/(5/6)} × 100
= (11/30) × (6/5) × 100
= 44%

Test: Profit and Loss- 1 - Question 20
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Anu sold 2 books at Rs. 1.40 each. Her profit on one was 20% and her loss on the other was 20%. Then she made
Detailed Solution for Test: Profit and Loss- 1 - Question 20

It the SP for both the Items is same and
there is a profit of x% and a loss of x%,
then the resultant loss = x²/100%
So, the resultant loss = 4%.
Total SP = 2.80, which is equal to 96% of CP of 2 books.
.: CP of 2 books = 2.80 × 100/96 = 2.92 (Appx);
:. Loss = 2.92 – 2.80 = .12 = 12 paise.

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