Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #501

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If the cost price of 5 articles is equal to the selling price of 6 articles, find the loss percent.

A. 20%

B. 16.67%

C. 10%

D. 15%

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Correct Answer: Option B

Explanation:
Let CP of 1 = 1, CP of 5 = 5, SP of 6 = 5 => SP of 1 = 5/6 = 0.833, loss = 16.67%.

This question belongs to: Maths Profit And Loss

Question #502

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A shopkeeper sells a fan for Rs. 630, gaining 5%. Find the cost price.

A. Rs. 640

B. Rs. 580

C. Rs. 620

D. Rs. 600

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Correct Answer: Option D

Explanation:
CP = 630 / 1.05 = 600.

This question belongs to: Maths Profit And Loss

Question #503

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If the selling price of an article is Rs. 384 and the profit is 28%, find the cost price.

A. Rs. 310

B. Rs. 320

C. Rs. 290

D. Rs. 300

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Correct Answer: Option D

Explanation:
CP = 384 / 1.28 = 300.

This question belongs to: Maths Profit And Loss

Question #504

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A trader marks his goods 65% above cost and gives a discount of 30%. What is his profit percent?

A. 20%

B. 15.5%

C. 12%

D. 18%

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Correct Answer: Option B

Explanation:
Let CP = 100, MP = 165, SP = 165*0.7 = 115.5, profit = 15.5%.

This question belongs to: Maths Profit And Loss

Question #505

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A person sells a book for Rs. 280, gaining 40%. Find the cost price.

A. Rs. 180

B. Rs. 200

C. Rs. 240

D. Rs. 220

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Correct Answer: Option B

Explanation:
CP = 280 / 1.40 = 200.

This question belongs to: Maths Profit And Loss

Question #506

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If the cost price of an article is Rs. 320 and the selling price is Rs. 400, what is the profit percentage?

A. 15%

B. 30%

C. 20%

D. 25%

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Correct Answer: Option D

Explanation:
Profit = 80, profit% = 80/320*100 = 25%.

This question belongs to: Maths Profit And Loss

Question #507

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A shopkeeper sells a watch for Rs. 540, losing 10%. Find the cost price.

A. Rs. 580

B. Rs. 620

C. Rs. 600

D. Rs. 560

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Correct Answer: Option C

Explanation:
SP = 90% of CP => CP = 540 / 0.9 = 600.

This question belongs to: Maths Profit And Loss

Question #508

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If the selling price of an article is Rs. 192 and the profit is 20%, find the cost price.

A. Rs. 170

B. Rs. 160

C. Rs. 180

D. Rs. 150

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Correct Answer: Option B

Explanation:
CP = 192 / 1.20 = 160.

This question belongs to: Maths Profit And Loss

Question #509

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A dealer gives a discount of 10% on the marked price and still gains 15%. If the marked price is Rs. 800, find the cost price.

A. Rs. 600

B. Rs. 640

C. Rs. 650

D. Rs. 626.09

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Correct Answer: Option D

Explanation:
SP = 800*0.9 = 720. CP = 720 / 1.15 = 626.09.

This question belongs to: Maths Profit And Loss

Question #510

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A man sells an article at a loss of 10%. If the cost price is Rs. 550, what is the selling price?

A. Rs. 500

B. Rs. 505

C. Rs. 485

D. Rs. 495

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Correct Answer: Option D

Explanation:
Loss = 10% of 550 = 55, SP = 550 - 55 = 495.

This question belongs to: Maths Profit And Loss

Question #511

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If the cost price of 9 articles is equal to the selling price of 10 articles, find the loss percent.

A. 8%

B. 10%

C. 12%

D. 15%

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Correct Answer: Option B

Explanation:
Let CP of 1 = 1, CP of 9 = 9, SP of 10 = 9 => SP of 1 = 9/10 = 0.9, loss = 10%.

This question belongs to: Maths Profit And Loss

Question #512

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A shopkeeper sells a product for Rs. 1080, gaining 20%. Find the cost price.

A. Rs. 900

B. Rs. 950

C. Rs. 880

D. Rs. 920

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Correct Answer: Option A

Explanation:
CP = 1080 / 1.20 = 900.

This question belongs to: Maths Profit And Loss

Question #513

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If the selling price of an article is Rs. 297 and the profit is 35%, find the cost price.

A. Rs. 210

B. Rs. 230

C. Rs. 220

D. Rs. 240

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Correct Answer: Option C

Explanation:
CP = 297 / 1.35 = 220.

This question belongs to: Maths Profit And Loss

Question #514

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A person buys a pair of jeans for Rs. 800 and sells them for Rs. 640. What is the loss percentage?

A. 15%

B. 30%

C. 25%

D. 20%

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Correct Answer: Option D

Explanation:
Loss = 160, loss% = 160/800*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #515

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A shopkeeper sells a chair for Rs. 450, gaining 12.5%. Find the cost price.

A. Rs. 380

B. Rs. 410

C. Rs. 420

D. Rs. 400

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Correct Answer: Option D

Explanation:
CP = 450 / 1.125 = 400.

This question belongs to: Maths Profit And Loss

Question #516

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If the selling price of an article is Rs. 128 and the loss is 20%, find the cost price.

A. Rs. 140

B. Rs. 150

C. Rs. 170

D. Rs. 160

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Correct Answer: Option D

Explanation:
SP = 80% of CP => CP = 128 / 0.8 = 160.

This question belongs to: Maths Profit And Loss

Question #517

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A dealer marks his goods 40% above cost and gives a discount of 25%. What is his profit percent?

A. 10%

B. 5%

C. 20%

D. 15%

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Correct Answer: Option B

Explanation:
Let CP = 100, MP = 140, SP = 140*0.75 = 105, profit = 5%.

This question belongs to: Maths Profit And Loss

Question #518

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

A. Rs. 780

B. Rs. 800

C. Rs. 820

D. Rs. 810

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Correct Answer: Option B

Explanation:
CP = 840 / 1.05 = 800.

This question belongs to: Maths Profit And Loss

Question #519

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If the cost price of an article is Rs. 460 and it is sold at a loss of 5%, what is the selling price?

A. Rs. 437

B. Rs. 445

C. Rs. 440

D. Rs. 430

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Correct Answer: Option A

Explanation:
Loss = 5% of 460 = 23, SP = 460 - 23 = 437.

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Question #520

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A trader allows a discount of 12% on the marked price and still gains 20%. If the cost price is Rs. 500, find the marked price.

A. Rs. 700

B. Rs. 681.82

C. Rs. 660

D. Rs. 670

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Correct Answer: Option B

Explanation:
SP = 500*1.2 = 600. MP = 600 / 0.88 = 681.82.

This question belongs to: Maths Profit And Loss

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