Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #581

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If the cost price of 8 apples equals the selling price of 6 apples, what is the profit percentage?

A. 40%

B. 50%

C. 33.33%

D. 25%

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Correct Answer: Option C

Explanation:
8 * CP = 6 * SP. SP/CP = 8/6 = 4/3. Profit = 4 - 3 = 1. Profit % = (1/3) * 100 = 33.33%.

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Question #582

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A merchant marks his goods 25% above CP and gives a 10% discount. Find his profit percentage.

A. 10%

B. 12.5%

C. 17.5%

D. 15%

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Correct Answer: Option B

Explanation:
Let CP = 100. Marked Price = 125. Discount = 10% of 125 = 12.5. SP = 125 - 12.5 = 112.5. Profit % = 12.5%.

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Question #583

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A TV is sold for Rs. 14400 at a loss of 10%. To gain 10%, at what price should it be sold?

A. Rs. 17200

B. Rs. 17600

C. Rs. 16000

D. Rs. 18000

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Correct Answer: Option B

Explanation:
0.9 * CP = 14400. CP = 16000. For 10% gain, SP = 1.1 * 16000 = Rs. 17600.

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Question #584

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By selling 20 meters of wire, a man gains the cost price of 4 meters. Find his profit percentage.

A. 30%

B. 25%

C. 20%

D. 15%

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Correct Answer: Option C

Explanation:
Let CP of 1 meter = 1. CP of 20 meters = 20. Profit = CP of 4 meters = 4. Profit % = (4/20) * 100 = 20%.

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Question #585

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If a loss of 15% on an item is Rs. 45, what is its cost price?

A. Rs. 250

B. Rs. 300

C. Rs. 400

D. Rs. 350

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Correct Answer: Option B

Explanation:
15% of CP = 45. CP = (45 / 15) * 100 = Rs. 300.

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Question #586

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A fruit seller buys lemons at 2 for a rupee and sells them at 5 for three rupees. What is his profit percentage?

A. 20%

B. 25%

C. 15%

D. 10%

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Correct Answer: Option A

Explanation:
CP of 1 lemon = 1/2 = 0.5. SP of 1 lemon = 3/5 = 0.6. Profit = 0.6 - 0.5 = 0.1. Profit % = (0.1 / 0.5) * 100 = 20%.

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Question #587

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Successive discounts of 30% and 10% are equivalent to a single discount of:

A. 45%

B. 37%

C. 42%

D. 40%

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Correct Answer: Option B

Explanation:
Equivalent discount = A + B - (AB/100) = 30 + 10 - (300/100) = 40 - 3 = 37%.

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Question #588

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A trader sold a bicycle at a profit of 10%. Had he bought it at 10% less and sold it for Rs. 12 more, he would have gained 25%. Find the cost price.

A. Rs. 600

B. Rs. 500

C. Rs. 480

D. Rs. 400

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Correct Answer: Option C

Explanation:
Let CP = 100x. Initial SP = 110x. New CP = 90x. New SP = 110x + 12. New profit is 25% on 90x = 22.5x. New SP = 90x + 22.5x = 112.5x. 112.5x - 110x = 12. 2.5x = 12. x = 4.8. CP = 100 * 4.8 = Rs. 480.

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Question #589

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A shopkeeper professes to sell at cost price but uses a 950g weight for 1kg. Find his profit percentage.

A. 6%

B. 5.26%

C. 5.5%

D. 5%

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Correct Answer: Option B

Explanation:
Error = 50g. Profit % = (50 / 950) * 100 = 100 / 19 = 5.26%.

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Question #590

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A man bought 2 articles for Rs. 1200 each. He sold one at a 20% loss and the other at a 20% profit. What is his overall profit or loss percentage?

A. 8% Loss

B. 4% Loss

C. 4% Profit

D. No Profit No Loss

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Correct Answer: Option D

Explanation:
When CP is the same for two articles, and one is sold at x% profit and the other at x% loss, the overall result is No Profit No Loss.

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Question #591

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Two items are sold for Rs. 2400 each. One at a 20% profit, the other at a 20% loss. Find the overall loss in rupees.

A. Rs. 0

B. Rs. 100

C. Rs. 200

D. Rs. 400

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Correct Answer: Option C

Explanation:
CP1 = 2400/1.2 = 2000. CP2 = 2400/0.8 = 3000. Total CP = 5000. Total SP = 4800. Loss = 5000 - 4800 = Rs. 200.

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Question #592

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A vendor buys lemons at 5 for Rs. 14 and sells them at 3 for Rs. 12. Find the profit percentage.

A. 33.33%

B. 50%

C. 60%

D. 42.85%

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Correct Answer: Option D

Explanation:
CP of 15 lemons = 14 * 3 = 42. SP of 15 lemons = 12 * 5 = 60. Profit = 18. Profit % = (18 / 42) * 100 = (3/7) * 100 = 42.85%.

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Question #593

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An article is sold at a profit of 15%. If the selling price is doubled, what will be the new profit percentage?

A. 115%

B. 230%

C. 30%

D. 130%

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Correct Answer: Option D

Explanation:
Let CP = 100. Original SP = 115. New SP = 230. New Profit = 230 - 100 = 130. New Profit % = 130%.

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Question #594

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The difference between selling an article at a profit of 8% and a loss of 4% is Rs. 108. Find the cost price.

A. Rs. 800

B. Rs. 900

C. Rs. 850

D. Rs. 950

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Correct Answer: Option B

Explanation:
Difference = 8% - (-4%) = 12% of CP. 12% of CP = 108. CP = 10800 / 12 = Rs. 900.

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Question #595

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A man sells a watch at a profit of 20%. If he had bought it at 10% less and sold it for Rs. 30 less, he would have gained 20%. Find the initial cost price.

A. Rs. 150

B. Rs. 250

C. Rs. 300

D. Rs. 200

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Correct Answer: Option B

Explanation:
Let original CP = 100x. Original SP = 120x. New CP = 90x. New SP = 120x - 30. Profit is 20% on 90x = 18x. So, 90x + 18x = 120x - 30. 108x = 120x - 30. 12x = 30. x = 2.5. Original CP = 100 * 2.5 = Rs. 250.

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Question #596

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After allowing a discount of 16%, a shopkeeper still earns a profit of 5%. What is the marked price if the cost price is Rs. 400?

A. Rs. 450

B. Rs. 520

C. Rs. 500

D. Rs. 550

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Correct Answer: Option C

Explanation:
SP = 105% of 400 = 420. Marked Price (MP) - 16% of MP = SP. 0.84 * MP = 420. MP = 420 / 0.84 = Rs. 500.

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Question #597

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A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs. 55 more, he would have had a profit of 40%. The cost price of the article is:

A. Rs. 275

B. Rs. 250

C. Rs. 200

D. Rs. 225

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Correct Answer: Option B

Explanation:
Let original CP = 100x. SP = 90x. New CP = 80x. New SP = 90x + 55. Profit is 40% of 80x = 32x. New SP = 80x + 32x = 112x. 112x - 90x = 55. 22x = 55. x = 2.5. CP = 100 * 2.5 = Rs. 250.

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Question #598

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A grocer sells rice at a profit of 10% and uses weights which are 20% less than the marked weight. Find his total gain percentage.

A. 40%

B. 35%

C. 37.5%

D. 30%

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Correct Answer: Option C

Explanation:
Let 1000g cost Rs. 100. He sells 800g (cost Rs. 80) for Rs. 110. Profit = 110 - 80 = 30. Profit % = (30 / 80) * 100 = 37.5%.

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Question #599

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A reduction of 20% in the price of sugar enables a purchaser to obtain 4 kg more for Rs. 160. What is the original price per kg?

A. Rs. 12

B. Rs. 15

C. Rs. 8

D. Rs. 10

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Correct Answer: Option D

Explanation:
20% of 160 = 32. This Rs. 32 buys 4 kg sugar. Reduced price = 32 / 4 = Rs. 8/kg. Let original price be x. 0.8x = 8. x = Rs. 10/kg.

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Question #600

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The marked price of an article is Rs. 1500. A shopkeeper gives a discount of 20% and still makes a profit of 25%. What is the cost price?

A. Rs. 1050

B. Rs. 960

C. Rs. 1000

D. Rs. 900

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Correct Answer: Option B

Explanation:
SP = 80% of 1500 = 1200. SP = 125% of CP. 1.25 * CP = 1200. CP = 1200 / 1.25 = Rs. 960.

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