Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #201

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A dealer marks his goods 50% above cost price and gives a discount of 30%. What is his profit percentage?

A. 10%

B. 5%

C. 20%

D. 15%

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Correct Answer: Option B

This question belongs to: Maths Profit And Loss

Question #202

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The cost price of an article is Rs. 600. If it is sold at a profit of 10%, what is the selling price?

A. Rs. 670

B. Rs. 650

C. Rs. 640

D. Rs. 660

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Correct Answer: Option D

Explanation:
SP = 600*1.1 = 660.

This question belongs to: Maths Profit And Loss

Question #203

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A shopkeeper sells a watch for Rs. 880, gaining 10%. Find the cost price.

A. Rs. 780

B. Rs. 800

C. Rs. 840

D. Rs. 820

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Correct Answer: Option B

Explanation:
CP = 880/1.1 = 800.

This question belongs to: Maths Profit And Loss

Question #204

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If the selling price of an article is Rs. 280 and the loss is 20%, what is the cost price?

A. Rs. 350

B. Rs. 360

C. Rs. 330

D. Rs. 340

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Correct Answer: Option A

Explanation:
CP = 280/0.8 = 350.

This question belongs to: Maths Profit And Loss

Question #205

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A person sells a bag for Rs. 540, making a profit of 8%. What was the cost price?

A. Rs. 520

B. Rs. 510

C. Rs. 500

D. Rs. 480

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Correct Answer: Option C

Explanation:
CP = 540/1.08 = 500.

This question belongs to: Maths Profit And Loss

Question #206

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A shopkeeper buys 200 pens at Rs. 12 each and sells 150 pens at Rs. 15 each and the remaining at Rs. 10 each. What is his profit or loss percentage?

A. Profit 6.25%

B. Loss 6.25%

C. No profit no loss

D. Profit 10%

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Correct Answer: Option A

This question belongs to: Maths Profit And Loss

Question #207

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If the cost price of an item is Rs. 240 and the selling price is Rs. 216, what is the loss percentage?

A. 8%

B. 12%

C. 10%

D. 15%

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Correct Answer: Option C

Explanation:
Loss = 24, loss% = 24/240*100=10%.

This question belongs to: Maths Profit And Loss

Question #208

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A man purchased an article for Rs. 500 and sold it for Rs. 600. What is the gain percentage?

A. 15%

B. 20%

C. 25%

D. 18%

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Correct Answer: Option B

Explanation:
Gain = 100, gain% = 100/500*100=20%.

This question belongs to: Maths Profit And Loss

Question #209

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A shopkeeper offers a discount of 10% on an article marked at Rs. 500. What is the selling price?

A. Rs. 450

B. Rs. 470

C. Rs. 440

D. Rs. 460

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Correct Answer: Option A

Explanation:
SP = 500*0.9 = 450.

This question belongs to: Maths Profit And Loss

Question #210

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If an article is sold at Rs. 450, there is a loss of 10%. Find its cost price.

A. Rs. 460

B. Rs. 520

C. Rs. 480

D. Rs. 500

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Correct Answer: Option D

Explanation:
CP = 450/0.9 = 500.

This question belongs to: Maths Profit And Loss

Question #211

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A person sells an item at a profit of 15%. If the cost price is Rs. 200, what is the selling price?

A. Rs. 240

B. Rs. 225

C. Rs. 235

D. Rs. 230

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Correct Answer: Option D

Explanation:
SP = 200*1.15 = 230.

This question belongs to: Maths Profit And Loss

Question #212

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The selling price of an article is Rs. 720. If the profit is 20%, what is the cost price?

A. Rs. 640

B. Rs. 600

C. Rs. 580

D. Rs. 620

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Correct Answer: Option B

Explanation:
CP = 720/1.2 = 600.

This question belongs to: Maths Profit And Loss

Question #213

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A shopkeeper buys a commodity at Rs. 360 and sells it at Rs. 432. What is the profit percentage?

A. 20%

B. 18%

C. 15%

D. 25%

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Correct Answer: Option A

Explanation:
Profit = 72, profit% = 72/360*100=20%.

This question belongs to: Maths Profit And Loss

Question #214

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If the cost price of 10 articles is equal to the selling price of 8 articles, find the gain percent.

A. 15%

B. 30%

C. 20%

D. 25%

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Correct Answer: Option D

Explanation:
Let CP of 1 = 1, CP of 10 = 10, SP of 8 = 10 => SP of 1 = 10/8 = 1.25, gain = 25%.

This question belongs to: Maths Profit And Loss

Question #215

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A shopkeeper sells an item at Rs. 180, losing 10%. What is the cost price?

A. Rs. 185

B. Rs. 210

C. Rs. 200

D. Rs. 190

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Correct Answer: Option C

Explanation:
CP = 180/0.9 = 200.

This question belongs to: Maths Profit And Loss

Question #216

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A person buys a book for Rs. 300 and sells it for Rs. 240. What is the loss percentage?

A. 10%

B. 15%

C. 25%

D. 20%

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Correct Answer: Option D

Explanation:
Loss = 60, loss% = 60/300*100=20%.

This question belongs to: Maths Profit And Loss

Question #217

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If an article is sold at Rs. 105, there is a profit of 5%. Find its cost price.

A. Rs. 110

B. Rs. 100

C. Rs. 98

D. Rs. 95

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Correct Answer: Option B

Explanation:
CP = 105/1.05 = 100.

This question belongs to: Maths Profit And Loss

Question #218

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A shopkeeper marks an article at Rs. 600 and gives a discount of 15%. What is the selling price?

A. Rs. 500

B. Rs. 520

C. Rs. 510

D. Rs. 490

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Correct Answer: Option C

Explanation:
SP = 600*0.85 = 510.

This question belongs to: Maths Profit And Loss

Question #219

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A man sold a camera for Rs. 2400, losing 20%. What was the cost price?

A. Rs. 3000

B. Rs. 2500

C. Rs. 3200

D. Rs. 2800

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Correct Answer: Option A

Explanation:
CP = 2400/0.8 = 3000.

This question belongs to: Maths Profit And Loss

Question #220

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A fruit seller buys 50 mangoes at Rs. 10 each and sells them at Rs. 12 each. What is his profit percentage?

A. 25%

B. 20%

C. 30%

D. 15%

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Correct Answer: Option B

Explanation:
CP = 500, SP = 600, profit = 100, profit% = 100/500*100=20%.

This question belongs to: Maths Profit And Loss

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