Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #561

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A person buys a product for Rs. 150 and sells it for Rs. 120. Calculate the loss percentage.

A. 25%

B. 15%

C. 20%

D. 30%

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Correct Answer: Option C

Explanation:
Loss = Cost Price - Selling Price = 150 - 120 = 30. Loss Percentage = (Loss / Cost Price) * 100 = (30 / 150) * 100 = 20%.

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Question #562

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The cost price of 5 pens is equal to the selling price of 4 pens. Find the profit percentage.

A. 20%

B. 30%

C. 33.33%

D. 25%

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Correct Answer: Option D

Explanation:
Let the cost price of 1 pen be CP and selling price of 1 pen be SP. Given 5 * CP = 4 * SP, so SP / CP = 5 / 4. Profit = SP - CP = 5 - 4 = 1 unit. Profit Percentage = (1 / 4) * 100 = 25%.

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Question #563

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A shopkeeper marks his goods 20% above the cost price and allows a discount of 10%. What is his final profit percentage?

A. 12%

B. 10%

C. 15%

D. 8%

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Correct Answer: Option D

Explanation:
Let the cost price be 100. Marked Price = 100 + 20% of 100 = 120. Discount = 10% of Marked Price = 12. Selling Price = 120 - 12 = 108. Profit = Selling Price - Cost Price = 108 - 100 = 8. Profit Percentage = 8%.

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Question #564

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By selling 33 meters of cloth, a person gains an amount equal to the cost price of 11 meters. Find the profit percentage.

A. 33.33%

B. 25%

C. 50%

D. 30%

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Correct Answer: Option A

Explanation:
Let the cost price of 1 meter be 1. The cost price of 33 meters is 33. The profit is equal to the cost price of 11 meters, which is 11. Profit Percentage = (Profit / Cost Price) * 100 = (11 / 33) * 100 = 33.33%.

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Question #565

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A man bought two horses for Rs. 30000. He sold one at a loss of 15% and the other at a profit of 19%. If the selling price of both horses is the same, what is the cost price of the second horse?

A. Rs. 12500

B. Rs. 15000

C. Rs. 10000

D. Rs. 17500

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Correct Answer: Option A

Explanation:
Let the cost prices be CP1 and CP2. CP1 + CP2 = 30000. Given 0.85 * CP1 = 1.19 * CP2, which simplifies to CP1 / CP2 = 119 / 85 = 7 / 5. The ratio is 7:5. Total parts = 12. 1 part = 30000 / 12 = 2500. CP2 = 5 parts = 5 * 2500 = Rs. 12500.

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Question #566

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A dealer sells an article at a loss of 4%. Had he sold it for Rs. 120 more, he would have gained 8%. What is the cost price of the article?

A. Rs. 900

B. Rs. 1000

C. Rs. 800

D. Rs. 1200

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Correct Answer: Option B

Explanation:
The difference between an 8% gain and a 4% loss is 12% of the cost price. So, 12% of CP = 120. CP = (120 * 100) / 12 = Rs. 1000.

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Question #567

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Successive discounts of 20% and 15% are equal to a single equivalent discount of what percentage?

A. 32%

B. 33%

C. 35%

D. 30%

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Correct Answer: Option A

Explanation:
Equivalent discount = A + B - (A * B) / 100. So, 20 + 15 - (20 * 15) / 100 = 35 - 300 / 100 = 35 - 3 = 32%.

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Question #568

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A vendor bought bananas at 6 for Rs. 10 and sold them at 4 for Rs. 8. Find his profit percentage.

A. 15%

B. 25%

C. 10%

D. 20%

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Correct Answer: Option D

Explanation:
Cost price of 1 banana = 10 / 6 = 5/3. Selling price of 1 banana = 8 / 4 = 2. Profit = 2 - 5/3 = 1/3. Profit percentage = ((1/3) / (5/3)) * 100 = 20%.

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Question #569

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A shopkeeper incurs a 10% loss by selling an item for Rs. 1800. At what price should he sell the item to earn a 10% profit?

A. Rs. 2100

B. Rs. 2400

C. Rs. 2000

D. Rs. 2200

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Correct Answer: Option D

Explanation:
Cost price = Selling price / 0.90 = 1800 / 0.90 = Rs. 2000. Desired Selling price = 110% of Cost price = 1.10 * 2000 = Rs. 2200.

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Question #570

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The profit earned by selling an article for Rs. 900 is double the loss incurred when the same article is sold for Rs. 450. At what price should it be sold to make a 25% profit?

A. Rs. 600

B. Rs. 750

C. Rs. 900

D. Rs. 800

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Correct Answer: Option B

Explanation:
Let the cost price be CP. Profit = 900 - CP. Loss = CP - 450. Given: 900 - CP = 2 * (CP - 450). 900 - CP = 2CP - 900. 3CP = 1800, so CP = 600. For a 25% profit, Selling price = 1.25 * 600 = Rs. 750.

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Question #571

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The selling price of an article is 4/3 of its cost price. What is the profit percentage?

A. 25%

B. 66.67%

C. 33.33%

D. 50%

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Correct Answer: Option C

Explanation:
SP = (4/3) * CP. Ratio of SP to CP is 4:3. Profit = SP - CP = 4 - 3 = 1 part. Profit percentage = (1 / 3) * 100 = 33.33%.

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Question #572

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A man sells an article at 5% above its cost price. If he had bought it at 5% less and sold it for Rs. 2 less, he would have gained 10%. Find the original cost price.

A. Rs. 500

B. Rs. 200

C. Rs. 400

D. Rs. 300

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Correct Answer: Option C

Explanation:
Let original CP = x. Original SP = 1.05x. New CP = 0.95x. New SP = 1.05x - 2. New profit is 10% on new CP, so New SP = 1.10 * 0.95x = 1.045x. Equating the two new SPs: 1.045x = 1.05x - 2. Therefore, 0.005x = 2, which gives x = 2 / 0.005 = 400.

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Question #573

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A dishonest dealer professes to sell his goods at cost price, but uses a false weight of 900 grams for a kilogram. What is his profit percentage?

A. 10%

B. 9.09%

C. 11.11%

D. 12.5%

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Correct Answer: Option C

Explanation:
The dealer saves 100 grams on every 900 grams given to the customer. Profit Percentage = (Error / True Value - Error) * 100 = (100 / 900) * 100 = 11.11%.

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Question #574

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A merchant marks his goods up by 50% and then offers a discount on the marked price. If his final profit is 20%, what is the discount percentage given?

A. 20%

B. 15%

C. 25%

D. 30%

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Correct Answer: Option A

Explanation:
Let CP = 100. Marked Price (MP) = 150. For a final profit of 20%, the Selling Price (SP) = 120. Discount Amount = MP - SP = 150 - 120 = 30. Discount Percentage = (30 / 150) * 100 = 20%.

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Question #575

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Two articles are sold for Rs. 4800 each. On one, the seller gains 20% and on the other, he loses 20%. What is his overall gain or loss percentage?

A. No Gain No Loss

B. 8% Loss

C. 4% Gain

D. 4% Loss

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Correct Answer: Option D

Explanation:
When two articles are sold at the same price, and one is sold at a gain of x% and the other at a loss of x%, there is always an overall loss. Loss percentage = (x^2) / 100 = (20^2) / 100 = 400 / 100 = 4% Loss.

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Question #576

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A man sold two items for Rs. 10000 each. On the first item, he gained 25%. On the second item, he lost 20%. Find his total profit or loss amount in Rupees.

A. Profit Rs. 500

B. Loss Rs. 500

C. Profit Rs. 1000

D. Loss Rs. 1000

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Correct Answer: Option B

Explanation:
SP1 = 10000, Profit = 25%, CP1 = 10000 / 1.25 = 8000. SP2 = 10000, Loss = 20%, CP2 = 10000 / 0.80 = 12500. Total CP = 8000 + 12500 = 20500. Total SP = 10000 + 10000 = 20000. Total Loss = Total CP - Total SP = 20500 - 20000 = Rs. 500.

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Question #577

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A table was bought for Rs. 1500 and sold for Rs. 1800. What is the profit percentage?

A. 25%

B. 20%

C. 30%

D. 15%

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Correct Answer: Option B

Explanation:
Profit = 1800 - 1500 = 300. Profit % = (300 / 1500) * 100 = 20%.

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Question #578

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If an item is sold for Rs. 450 at a 10% loss, what was its cost price?

A. Rs. 500

B. Rs. 490

C. Rs. 520

D. Rs. 480

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Correct Answer: Option A

Explanation:
Selling Price is 90% of Cost Price. 0.90 * CP = 450. CP = 450 / 0.90 = Rs. 500.

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Question #579

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Find the selling price of an article bought for Rs. 800 and sold at a 15% profit.

A. Rs. 950

B. Rs. 940

C. Rs. 900

D. Rs. 920

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Correct Answer: Option D

Explanation:
Profit = 15% of 800 = 120. Selling Price = 800 + 120 = Rs. 920.

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Question #580

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An article is sold for Rs. 1020, resulting in a 20% loss. Find the cost price.

A. Rs. 1200

B. Rs. 1250

C. Rs. 1300

D. Rs. 1275

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Correct Answer: Option D

Explanation:
80% of CP = 1020. CP = 1020 / 0.8 = Rs. 1275.

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