Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #341

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A trader allows a discount of 25% on an article marked at Rs. 1200. What is the selling price?

A. Rs. 950

B. Rs. 850

C. Rs. 900

D. Rs. 1000

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Correct Answer: Option C

Explanation:
SP = 1200 * 0.75 = 900.

This question belongs to: Maths Profit And Loss

Question #342

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A shopkeeper sells a fan for Rs. 900, gaining 12.5%. Find the cost price.

A. Rs. 800

B. Rs. 840

C. Rs. 820

D. Rs. 780

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Correct Answer: Option A

Explanation:
CP = 900 / 1.125 = 800.

This question belongs to: Maths Profit And Loss

Question #343

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If the cost price of an article is Rs. 300 and the selling price is Rs. 255, what is the loss percentage?

A. 15%

B. 18%

C. 10%

D. 12%

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Correct Answer: Option A

Explanation:
Loss = 45, loss% = 45/300*100 = 15%.

This question belongs to: Maths Profit And Loss

Question #344

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A man sold two articles for Rs. 600 each. On one he gains 20% and on the other he loses 20%. What is his overall loss or gain percent?

A. Loss 4%

B. Gain 4%

C. Loss 2%

D. No profit no loss

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Correct Answer: Option A

Explanation:
CP1 = 600/1.2 = 500, CP2 = 600/0.8 = 750, total CP = 1250, total SP = 1200, loss = 50, loss% = (50/1250)*100 = 4%.

This question belongs to: Maths Profit And Loss

Question #345

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A person sells an item at Rs. 450, losing 10%. What would be the selling price to gain 10%?

A. Rs. 520

B. Rs. 500

C. Rs. 540

D. Rs. 550

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Correct Answer: Option D

Explanation:
CP = 450 / 0.9 = 500. To gain 10%, SP = 500*1.1 = 550.

This question belongs to: Maths Profit And Loss

Question #346

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If the selling price of 12 articles is equal to the cost price of 15 articles, find the profit percent.

A. 25%

B. 30%

C. 15%

D. 20%

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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, profit = 25%.

This question belongs to: Maths Profit And Loss

Question #347

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A trader buys a product for Rs. 750 and sells it for Rs. 900. What is the profit percentage?

A. 25%

B. 15%

C. 20%

D. 30%

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Correct Answer: Option C

Explanation:
Profit = 150, profit% = 150/750*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #348

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A shopkeeper sells a bag for Rs. 440, losing 12%. Find the cost price.

A. Rs. 520

B. Rs. 500

C. Rs. 480

D. Rs. 460

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Correct Answer: Option B

Explanation:
SP = 88% of CP => CP = 440 / 0.88 = 500.

This question belongs to: Maths Profit And Loss

Question #349

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If the cost price of an article is Rs. 480 and it is sold at a profit of 15%, what is the selling price?

A. Rs. 552

B. Rs. 560

C. Rs. 550

D. Rs. 540

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Correct Answer: Option A

Explanation:
SP = 480 * 1.15 = 552.

This question belongs to: Maths Profit And Loss

Question #350

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A dealer marks his goods 35% above cost and gives a discount of 15%. What is his profit percent?

A. 20%

B. 14.75%

C. 12%

D. 18%

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Correct Answer: Option B

Explanation:
Let CP = 100, MP = 135, SP = 135*0.85 = 114.75, profit = 14.75%.

This question belongs to: Maths Profit And Loss

Question #351

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A man sells a watch for Rs. 880, gaining 10%. What is the cost price?

A. Rs. 840

B. Rs. 820

C. Rs. 780

D. Rs. 800

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Correct Answer: Option D

Explanation:
CP = 880 / 1.10 = 800.

This question belongs to: Maths Profit And Loss

Question #352

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If the selling price of an article is Rs. 1080 and the loss is 20%, find the cost price.

A. Rs. 1250

B. Rs. 1400

C. Rs. 1300

D. Rs. 1350

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Correct Answer: Option D

Explanation:
SP = 80% of CP => CP = 1080 / 0.8 = 1350.

This question belongs to: Maths Profit And Loss

Question #353

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A shopkeeper sells a shirt for Rs. 560, gaining 40%. Find the cost price.

A. Rs. 440

B. Rs. 380

C. Rs. 400

D. Rs. 420

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Correct Answer: Option C

Explanation:
CP = 560 / 1.40 = 400.

This question belongs to: Maths Profit And Loss

Question #354

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A person buys 5 kg of apples at Rs. 60 per kg and sells at Rs. 72 per kg. What is the profit percentage?

A. 15%

B. 20%

C. 30%

D. 25%

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Correct Answer: Option B

Explanation:
CP = 5*60 = 300, SP = 5*72 = 360, profit = 60, profit% = 60/300*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #355

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A trader gives a discount of 10% on an article and still gains 20%. If the cost price is Rs. 600, find the marked price.

A. Rs. 900

B. Rs. 750

C. Rs. 800

D. Rs. 850

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Correct Answer: Option C

Explanation:
SP = 600*1.2 = 720. MP = 720 / 0.9 = 800.

This question belongs to: Maths Profit And Loss

Question #356

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A man sells an article at a loss of 5%. If the selling price is Rs. 380, find the cost price.

A. Rs. 385

B. Rs. 400

C. Rs. 390

D. Rs. 410

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Correct Answer: Option B

Explanation:
SP = 95% of CP => CP = 380 / 0.95 = 400.

This question belongs to: Maths Profit And Loss

Question #357

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If the selling price of an article is Rs. 156 and the profit is 30%, find the cost price.

A. Rs. 140

B. Rs. 130

C. Rs. 120

D. Rs. 110

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Correct Answer: Option C

Explanation:
CP = 156 / 1.30 = 120.

This question belongs to: Maths Profit And Loss

Question #358

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A shopkeeper marks his goods 20% above cost and gives a discount of 15%. What is his profit percent?

A. 2%

B. 8%

C. 10%

D. 5%

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 120, SP = 120*0.85 = 102, profit = 2%.

This question belongs to: Maths Profit And Loss

Question #359

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A person bought a table for Rs. 1200 and sold it for Rs. 1440. What is the gain percent?

A. 25%

B. 20%

C. 18%

D. 15%

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Correct Answer: Option B

Explanation:
Gain = 240, gain% = 240/1200*100 = 20%.

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Question #360

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A shopkeeper sells a radio for Rs. 660, losing 10%. Find the cost price.

A. Rs. 750

B. Rs. 720

C. Rs. 733.33

D. Rs. 700

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Correct Answer: Option C

Explanation:
SP = 90% of CP => CP = 660 / 0.9 = 733.33.

This question belongs to: Maths Profit And Loss

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