Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #381

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If the selling price of an article is Rs. 165 and the profit is 10%, find the cost price.

A. Rs. 140

B. Rs. 155

C. Rs. 160

D. Rs. 150

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Correct Answer: Option D

Explanation:
CP = 165 / 1.10 = 150.

This question belongs to: Maths Profit And Loss

Question #382

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A trader gives a discount of 15% on the marked price and still gains 20%. If the cost price is Rs. 400, find the marked price.

A. Rs. 540

B. Rs. 564.71

C. Rs. 550

D. Rs. 580

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Correct Answer: Option B

Explanation:
SP = 400*1.2 = 480. MP = 480 / 0.85 = 564.71.

This question belongs to: Maths Profit And Loss

Question #383

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A shopkeeper buys 20 kg of wheat at Rs. 30 per kg and sells at Rs. 36 per kg. What is his profit percentage?

A. 25%

B. 10%

C. 20%

D. 15%

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Correct Answer: Option C

Explanation:
CP = 20*30 = 600, SP = 20*36 = 720, profit = 120, profit% = 120/600*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #384

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

A. 20%

B. 10%

C. 25%

D. 15%

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Correct Answer: Option A

Explanation:
Let CP of 1 = 1, CP of 8 = 8, SP of 10 = 8 => SP of 1 = 8/10 = 0.8, loss = 20%.

This question belongs to: Maths Profit And Loss

Question #385

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A man sells a book for Rs. 190, losing 5%. What is the cost price?

A. Rs. 200

B. Rs. 205

C. Rs. 210

D. Rs. 195

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Correct Answer: Option A

Explanation:
SP = 95% of CP => CP = 190 / 0.95 = 200.

This question belongs to: Maths Profit And Loss

Question #386

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A dealer marks his goods 50% above cost and gives a discount of 20%. What is his profit percent?

A. 20%

B. 30%

C. 15%

D. 25%

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 150, SP = 150*0.8 = 120, profit = 20%.

This question belongs to: Maths Profit And Loss

Question #387

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A person buys a pair of shoes for Rs. 400 and sells them for Rs. 480. What is the gain percent?

A. 20%

B. 30%

C. 15%

D. 25%

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Correct Answer: Option A

Explanation:
Gain = 80, gain% = 80/400*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #388

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A shopkeeper sells a product for Rs. 960, gaining 20%. Find the cost price.

A. Rs. 820

B. Rs. 800

C. Rs. 780

D. Rs. 840

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Correct Answer: Option B

Explanation:
CP = 960 / 1.20 = 800.

This question belongs to: Maths Profit And Loss

Question #389

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If the cost price of an article is Rs. 350 and it is sold at a loss of 8%, what is the selling price?

A. Rs. 318

B. Rs. 325

C. Rs. 322

D. Rs. 330

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Correct Answer: Option C

Explanation:
Loss = 8% of 350 = 28, SP = 350 - 28 = 322.

This question belongs to: Maths Profit And Loss

Question #390

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A trader marks his goods 40% above cost and gives a discount of 15%. What is his profit percent?

A. 15%

B. 20%

C. 19%

D. 18%

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Correct Answer: Option C

Explanation:
Let CP = 100, MP = 140, SP = 140*0.85 = 119, profit = 19%.

This question belongs to: Maths Profit And Loss

Question #391

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

A. Rs. 780

B. Rs. 820

C. Rs. 800

D. Rs. 840

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Correct Answer: Option C

Explanation:
CP = 880 / 1.10 = 800.

This question belongs to: Maths Profit And Loss

Question #392

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If the selling price of an article is Rs. 270 and the profit is 35%, find the cost price.

A. Rs. 200

B. Rs. 190

C. Rs. 210

D. Rs. 220

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Correct Answer: Option A

Explanation:
CP = 270 / 1.35 = 200.

This question belongs to: Maths Profit And Loss

Question #393

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A shopkeeper allows a discount of 20% on an article marked at Rs. 1500. What is the selling price?

A. Rs. 1200

B. Rs. 1150

C. Rs. 1300

D. Rs. 1250

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Correct Answer: Option A

Explanation:
SP = 1500 * 0.8 = 1200.

This question belongs to: Maths Profit And Loss

Question #394

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A person buys 2 dozen bananas for Rs. 48 and sells them at Rs. 3 per banana. What is the profit percentage?

A. 33.33%

B. 50%

C. 25%

D. 40%

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Correct Answer: Option B

Explanation:
2 dozen = 24, CP per banana = 48/24 = 2, SP = 3, profit = 1, profit% = 1/2*100 = 50%.

This question belongs to: Maths Profit And Loss

Question #395

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If the cost price of 12 articles is equal to the selling price of 10 articles, find the gain percent.

A. 25%

B. 15%

C. 18%

D. 20%

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Correct Answer: Option D

Explanation:
Let CP of 1 = 1, CP of 12 = 12, SP of 10 = 12 => SP of 1 = 12/10 = 1.2, gain = 20%.

This question belongs to: Maths Profit And Loss

Question #396

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A dealer sells a bag for Rs. 420, losing 16%. Find the cost price.

A. Rs. 500

B. Rs. 480

C. Rs. 520

D. Rs. 490

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Correct Answer: Option A

Explanation:
SP = 84% of CP => CP = 420 / 0.84 = 500.

This question belongs to: Maths Profit And Loss

Question #397

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A shopkeeper sells a chair for Rs. 540, gaining 12.5%. Find the cost price.

A. Rs. 520

B. Rs. 500

C. Rs. 480

D. Rs. 460

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Correct Answer: Option C

Explanation:
CP = 540 / 1.125 = 480.

This question belongs to: Maths Profit And Loss

Question #398

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A trader marks his goods 55% above cost and gives a discount of 25%. What is his profit percent?

A. 16.25%

B. 18%

C. 20%

D. 15%

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 155, SP = 155*0.75 = 116.25, profit = 16.25%.

This question belongs to: Maths Profit And Loss

Question #399

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A man sells a watch for Rs. 720, gaining 20%. What is the cost price?

A. Rs. 680

B. Rs. 600

C. Rs. 560

D. Rs. 640

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Correct Answer: Option B

Explanation:
CP = 720 / 1.20 = 600.

This question belongs to: Maths Profit And Loss

Question #400

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If the cost price of an article is Rs. 600 and the selling price is Rs. 540, what is the loss percentage?

A. 10%

B. 12%

C. 15%

D. 8%

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Correct Answer: Option A

Explanation:
Loss = 60, loss% = 60/600*100 = 10%.

This question belongs to: Maths Profit And Loss

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