Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #321

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If the selling price of an article is Rs. 252 and the loss is 16%, find the cost price.

A. Rs. 300

B. Rs. 320

C. Rs. 290

D. Rs. 280

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Correct Answer: Option A

Explanation:
SP = 84% of CP => CP = 252 / 0.84 = 300.

This question belongs to: Maths Profit And Loss

Question #322

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A trader marks his goods 40% above cost and gives a discount of 20%. What is his profit percent?

A. 12%

B. 10%

C. 15%

D. 8%

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 140, SP = 140*0.8 = 112, profit = 12%.

This question belongs to: Maths Profit And Loss

Question #323

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A person sells an article at a profit of 25%. If the cost price is Rs. 320, what is the selling price?

A. Rs. 360

B. Rs. 380

C. Rs. 420

D. Rs. 400

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Correct Answer: Option D

Explanation:
SP = 320 * 1.25 = 400.

This question belongs to: Maths Profit And Loss

Question #324

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A shopkeeper buys 50 kg of rice at Rs. 40 per kg and sells at Rs. 48 per kg. What is his profit percentage?

A. 15%

B. 25%

C. 10%

D. 20%

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Correct Answer: Option D

Explanation:
CP = 50*40 = 2000, SP = 50*48 = 2400, profit = 400, profit% = 400/2000*100 = 20%.

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Question #325

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If the cost price of an article is Rs. 450 and it is sold at a loss of 10%, what is the selling price?

A. Rs. 410

B. Rs. 415

C. Rs. 405

D. Rs. 400

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Correct Answer: Option C

Explanation:
Loss = 10% of 450 = 45, SP = 450 - 45 = 405.

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Question #326

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A dealer allows a discount of 15% on the marked price and still gains 20%. If the cost price is Rs. 500, find the marked price.

A. Rs. 680

B. Rs. 700

C. Rs. 705.88

D. Rs. 720

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Correct Answer: Option C

Explanation:
SP = 500*1.2 = 600. MP = 600 / 0.85 = 705.88.

This question belongs to: Maths Profit And Loss

Question #327

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A person buys 10 oranges for Rs. 20 and sells 8 oranges for Rs. 20. What is the profit or loss percentage?

A. No profit no loss

B. Profit 25%

C. Loss 25%

D. Profit 20%

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Correct Answer: Option B

Explanation:
CP per orange = 20/10 = 2. SP per orange = 20/8 = 2.5. Profit = 0.5, profit% = (0.5/2)*100 = 25%.

This question belongs to: Maths Profit And Loss

Question #328

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A shopkeeper sells a watch for Rs. 1100, losing 12%. Find the cost price.

A. Rs. 1150

B. Rs. 1250

C. Rs. 1200

D. Rs. 1300

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Correct Answer: Option B

Explanation:
SP = 88% of CP => CP = 1100 / 0.88 = 1250.

This question belongs to: Maths Profit And Loss

Question #329

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If the selling price of an article is Rs. 660 and the profit is 10%, find the cost price.

A. Rs. 580

B. Rs. 640

C. Rs. 620

D. Rs. 600

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Correct Answer: Option D

Explanation:
CP = 660 / 1.10 = 600.

This question belongs to: Maths Profit And Loss

Question #330

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A trader marks his goods 50% above cost and gives a discount of 30%. What is his profit percent?

A. 20%

B. 15%

C. 10%

D. 5%

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Correct Answer: Option D

Explanation:
Let CP = 100, MP = 150, SP = 150*0.7 = 105, profit = 5%.

This question belongs to: Maths Profit And Loss

Question #331

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The cost price of 15 articles is equal to the selling price of 12 articles. Find the gain percent.

A. 25%

B. 15%

C. 20%

D. 30%

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Correct Answer: Option A

Explanation:
Let CP of 1 = 1, CP of 15 = 15, SP of 12 = 15 => SP of 1 = 15/12 = 1.25, gain = 25%.

This question belongs to: Maths Profit And Loss

Question #332

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A person sold a TV for Rs. 12000, making a profit of 20%. What was the cost price?

A. Rs. 10000

B. Rs. 10500

C. Rs. 11000

D. Rs. 9500

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Correct Answer: Option A

Explanation:
CP = 12000 / 1.20 = 10000.

This question belongs to: Maths Profit And Loss

Question #333

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If an article is sold at Rs. 315, there is a loss of 10%. At what price should it be sold to gain 5%?

A. Rs. 375

B. Rs. 360

C. Rs. 350

D. Rs. 367.50

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Correct Answer: Option D

Explanation:
CP = 315 / 0.9 = 350. To gain 5%, SP = 350*1.05 = 367.50.

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Question #334

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A shopkeeper buys a bag for Rs. 240 and sells it at a loss of 15%. What is the selling price?

A. Rs. 204

B. Rs. 216

C. Rs. 198

D. Rs. 210

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Correct Answer: Option A

Explanation:
Loss = 15% of 240 = 36, SP = 240 - 36 = 204.

This question belongs to: Maths Profit And Loss

Question #335

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A trader gives a discount of 20% on the marked price and still gains 10%. If the marked price is Rs. 1500, find the cost price.

A. Rs. 1100

B. Rs. 1050

C. Rs. 1090.91

D. Rs. 1125

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Correct Answer: Option C

Explanation:
SP = 1500*0.8 = 1200. CP = 1200 / 1.10 = 1090.91.

This question belongs to: Maths Profit And Loss

Question #336

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A man sells an article for Rs. 840, gaining 5%. What is the cost price?

A. Rs. 780

B. Rs. 820

C. Rs. 810

D. Rs. 800

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Correct Answer: Option D

Explanation:
CP = 840 / 1.05 = 800.

This question belongs to: Maths Profit And Loss

Question #337

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If the cost price of 10 articles is equal to the selling price of 8 articles, find the profit percentage.

A. 30%

B. 25%

C. 15%

D. 20%

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Correct Answer: Option B

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

This question belongs to: Maths Profit And Loss

Question #338

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A shopkeeper sells a book for Rs. 360, losing 10%. What is the cost price?

A. Rs. 390

B. Rs. 400

C. Rs. 380

D. Rs. 420

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Correct Answer: Option B

Explanation:
CP = 360 / 0.9 = 400.

This question belongs to: Maths Profit And Loss

Question #339

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A person buys a phone for Rs. 8000 and sells it for Rs. 7200. What is the loss percentage?

A. 10%

B. 8%

C. 15%

D. 12%

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Correct Answer: Option A

Explanation:
Loss = 800, loss% = 800/8000*100 = 10%.

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Question #340

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If the selling price of an article is Rs. 210 and the profit is 5%, find the cost price.

A. Rs. 200

B. Rs. 205

C. Rs. 195

D. Rs. 210

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Correct Answer: Option A

Explanation:
CP = 210 / 1.05 = 200.

This question belongs to: Maths Profit And Loss

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