Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #101

A reduction of 10% in the price of wheat enables a man to buy 5 kg more for Rs. 450. What was the original price per kg?

A. Rs. 9

B. Rs. 10

C. Rs. 12

D. Rs. 8

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Correct Answer: Option B

Explanation:
Let original price = P. Reduced price = 0.9P. (450 / 0.9P) - (450 / P) = 5. (500 / P) - (450 / P) = 5. 50 / P = 5. P = 10.

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Question #102

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If the selling price of an item becomes half, the loss becomes three times the initial loss. What was the initial loss percentage?

A. 30%

B. 25%

C. 15%

D. 20%

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Correct Answer: Option D

Explanation:
Let Cost Price = 100 and initial Selling Price = x. Initial loss = 100 - x. New Selling Price = x / 2. New loss = 100 - (x / 2). 100 - (x / 2) = 3 * (100 - x). 100 - 0.5x = 300 - 3x. 2.5x = 200. x = 80. Initial loss = 100 - 80 = 20. Loss percentage = 20%.

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Question #103

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The marked price of a machine is Rs. 3200. Two successive discounts are offered, the first being 10%. If the final selling price is Rs. 2448, find the second discount percentage.

A. 20%

B. 15%

C. 18%

D. 12%

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Correct Answer: Option B

Explanation:
Price after first discount = 3200 * 0.90 = 2880. Second discount amount = 2880 - 2448 = 432. Second discount percentage = (432 / 2880) * 100 = 15%.

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Question #104

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Two sellers A and B claim the same profit percentage on selling an item for Rs. 1800. A calculates his profit on the selling price, while B calculates it on the cost price. If the difference in their profit is Rs. 150, what is the claimed profit percentage?

A. 30%

B. 20%

C. 33.33%

D. 25%

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Correct Answer: Option C

Explanation:
Let profit percentage be P. A's profit = P% of 1800. B's Cost Price = 1800 / (1 + P/100). B's profit = 1800 - [1800 / (1 + P/100)]. If P = 33.33% (1/3), A's profit = 1800 * (1/3) = 600. B's profit = 1800 - (1800 / (4/3)) = 1800 - 1350 = 450. Difference = 600 - 450 = 150. Claimed profit percentage = 33.33%.

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Question #105

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A tradesman marks his goods 25% above the cost price and allows a 10% discount for cash payment. If he earns a profit of Rs. 50, what is the cost price?

A. Rs. 350

B. Rs. 450

C. Rs. 400

D. Rs. 380

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Correct Answer: Option C

Explanation:
Let Cost Price = 100x. Marked Price = 125x. Selling Price = 125x * 0.90 = 112.5x. Profit = 12.5x. 12.5x = 50. x = 4. Cost Price = 100 * 4 = 400.

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Question #106

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An article is sold at a 15% profit. If its cost price decreases by 10% and selling price decreases by Rs. 21, the profit becomes 20%. Find the initial cost price.

A. Rs. 300

B. Rs. 280

C. Rs. 250

D. Rs. 320

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Correct Answer: Option A

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 90x. New Selling Price = 90x * 1.20 = 108x. Difference = 115x - 108x = 7x. 7x = 21. x = 3. Initial Cost Price = 100 * 3 = 300.

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Question #107

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A shopkeeper sells rice at a 10% profit and uses a weight which is 30% less than the actual measure. What is his total profit percentage?

A. 57.14%

B. 45.45%

C. 60%

D. 50%

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Correct Answer: Option A

Explanation:
He gives 700g but charges for 1000g + 10% profit = 1100g worth of value. Profit = 1100 - 700 = 400. Profit percentage = (400 / 700) * 100 = 57.14%.

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Question #108

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By selling 12 items for Rs. 60, a man loses 25%. How many items must he sell for Rs. 100 to gain 25%?

A. 12

B. 10

C. 15

D. 16

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Correct Answer: Option A

Explanation:
Selling Price of 12 items = 60. Selling Price of 1 item = 5. Cost Price of 1 item = 5 / 0.75 = 20 / 3. Desired Selling Price for 25% profit = (20 / 3) * 1.25 = 25 / 3. Number of items for Rs. 100 = 100 / (25 / 3) = 12 items.

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Question #109

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A man purchased 40 apples for Rs. 320. He sells 15 at a 20% profit and 15 at a 10% loss. At what profit percentage should he sell the remaining 10 apples to achieve an overall profit of 15%?

A. 45%

B. 50%

C. 40%

D. 35%

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Correct Answer: Option A

Explanation:
Total Cost Price = 320. Desired profit = 15% of 320 = 48. Cost Price of 15 apples = 120. Profit on 15 apples = 24. Loss on 15 apples = 12. Net profit so far = 12. Profit needed on remaining 10 apples = 48 - 12 = 36. Cost Price of remaining 10 apples = 80. Profit percentage = (36 / 80) * 100 = 45%.

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Question #110

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A person buys a house and a car for Rs. 5,00,000 each. He sells the house at a 20% profit and the car at a 10% loss. What is his overall profit or loss percentage?

A. 5% loss

B. 2.5% profit

C. 10% profit

D. 5% profit

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Correct Answer: Option D

Explanation:
Total Cost Price = 10,00,000. Profit on house = 1,00,000. Loss on car = 50,000. Net profit = 50,000. Profit percentage = (50,000 / 10,00,000) * 100 = 5% profit.

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Question #111

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A trader mixes two types of pulses, A costing Rs. 80/kg and B costing Rs. 120/kg, in the ratio 3:2. He marks up the mixture by 25% on the cost price and allows a 10% discount. Find his net profit per kg.

A. Rs. 14

B. Rs. 12

C. Rs. 15

D. Rs. 10

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Correct Answer: Option B

Explanation:
Cost Price per kg of mixture = [(3 * 80) + (2 * 120)] / 5 = (240 + 240) / 5 = 96. Marked Price = 96 * 1.25 = 120. Selling Price = 120 * 0.90 = 108. Net profit = 108 - 96 = Rs. 12.

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Question #112

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A manufacturer sells to a wholesaler at a 25% profit. The wholesaler sells to a retailer at a 20% profit. The retailer sells to a customer at a 15% profit for Rs. 1380. If the manufacturer's total cost includes a 25% packaging charge on the base item cost, what is the base item cost?

A. Rs. 600

B. Rs. 720

C. Rs. 500

D. Rs. 640

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Correct Answer: Option D

Explanation:
Retailer's Cost Price = 1380 / 1.15 = 1200. Wholesaler's Cost Price = 1200 / 1.20 = 1000. Manufacturer's Total Cost = 1000 / 1.25 = 800. Total Cost = Base Cost + 0.25 * Base Cost = 1.25 * Base Cost. 1.25 * Base Cost = 800. Base Cost = 800 / 1.25 = 640.

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Question #113

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A dealer marks his goods 40% above the cost price. He sells 50% of the goods at the marked price, 25% at a 20% discount on the marked price, and the rest at a 40% discount on the marked price. What is his overall profit percentage?

A. 18%

B. 19%

C. 21%

D. 15%

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Correct Answer: Option B

Explanation:
Let 100 items cost 10000. Marked Price = 140. 50 items sold at 140 = 7000. 25 items sold at 112 (140 * 0.8) = 2800. 25 items sold at 84 (140 * 0.6) = 2100. Total Selling Price = 7000 + 2800 + 2100 = 11900. Total Cost Price = 10000. Profit = 1900. Profit percentage = 19%.

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Question #114

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An article is sold at Rs. X. If it is sold at 54.54% of X, there is a loss of 20%. What is the profit percentage when it is sold at Rs. X?

A. 46.66%

B. 50%

C. 45%

D. 42.5%

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Correct Answer: Option A

Explanation:
54.54% = 6/11. Selling at (6/11) * X results in 20% loss, meaning Selling Price = 0.80 * Cost Price. (6/11) * X = 0.80 * Cost Price. X = (0.80 * 11 / 6) * Cost Price = (8.8 / 6) * Cost Price = (88 / 60) * Cost Price = (22 / 15) * Cost Price. Profit = (22 / 15) - 1 = 7 / 15. Profit percentage = (7 / 15) * 100 = 46.66%.

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Question #115

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An electronics store allows successive discounts of 15% and 20% on a laptop marked at Rs. 60,000. If the store still makes a 20% profit, what is the cost price?

A. Rs. 34000

B. Rs. 32000

C. Rs. 36000

D. Rs. 40000

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Correct Answer: Option A

Explanation:
Marked Price = 60000. Price after 15% discount = 51000. Price after further 20% discount = 51000 * 0.80 = 40800. Selling Price = 40800. Profit = 20%. Cost Price = 40800 / 1.20 = 34000.

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Question #116

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A merchant gives a discount of 10% on the marked price. If he sells for Rs. 900, he gains 12.5%. If he sells at the marked price, what is his profit percentage?

A. 22.5%

B. 25%

C. 30%

D. 20%

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Correct Answer: Option B

Explanation:
Selling Price = 900. Gain = 12.5%. Cost Price = 900 / 1.125 = 800. Marked Price = 900 / 0.90 = 1000. If sold at 1000, Profit = 1000 - 800 = 200. Profit percentage = (200 / 800) * 100 = 25%.

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Question #117

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If the cost price of an article is 40% of its selling price, what is the profit percentage?

A. 125%

B. 150%

C. 140%

D. 120%

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Correct Answer: Option B

Explanation:
Let Selling Price = 100. Cost Price = 40. Profit = 100 - 40 = 60. Profit percentage = (60 / 40) * 100 = 150%.

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Question #118

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The selling price of an article is 8/5 times its cost price. Find the profit percentage.

A. 40%

B. 60%

C. 50%

D. 75%

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Correct Answer: Option B

Explanation:
Selling Price = (8/5) * Cost Price. Selling Price / Cost Price = 1.6. Profit = 0.6 of Cost Price. Profit percentage = 60%.

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Question #119

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A man sold a book at a 16% loss. Had he sold it for Rs. 42 more, he would have gained 12%. What is the cost price of the book?

A. Rs. 120

B. Rs. 150

C. Rs. 160

D. Rs. 140

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Correct Answer: Option B

Explanation:
Difference in percentage = 12% - (-16%) = 28%. 28% of Cost Price = 42. Cost Price = (42 / 28) * 100 = 150.

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Question #120

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A trader marked his goods at 20% above the cost price and sold them. In weighing, he gave 900g for 1kg. What is his total gain percentage?

A. 30%

B. 40%

C. 33.33%

D. 25%

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Correct Answer: Option C

Explanation:
Cost Price of 900g = 900. Selling Price charged for 1000g + 20% markup = 1200. Profit = 1200 - 900 = 300. Profit percentage = (300 / 900) * 100 = 33.33%.

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