Profit and Loss MCQs with Answers and Explanations for Competitive Exams

Question #161

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A person sells a book at a loss of 8%. If the selling price is Rs. 184, find the cost price.

A. Rs. 185

B. Rs. 210

C. Rs. 200

D. Rs. 190

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Correct Answer: Option C

Explanation:
SP = 92% of CP => CP = 184 / 0.92 = 200.

This question belongs to: Maths Profit And Loss

Question #162

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If the selling price of an article is doubled, the profit becomes three times. Find the original profit percent.

A. 66.67%

B. 50%

C. 100%

D. 75%

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Correct Answer: Option B

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Question #163

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A trader marks his goods at 20% above CP and gives a discount of 10%. What is his profit percent?

A. 15%

B. 8%

C. 12%

D. 10%

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Correct Answer: Option B

Explanation:
Let CP=100, MP=120, SP=120*0.9=108, profit=8%.

This question belongs to: Maths Profit And Loss

Question #164

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If the cost price of an item is Rs. 360 and it is sold at a profit of 15%, what is the selling price?

A. Rs. 414

B. Rs. 400

C. Rs. 420

D. Rs. 430

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Correct Answer: Option A

Explanation:
SP = 360*1.15 = 414.

This question belongs to: Maths Profit And Loss

Question #165

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A shopkeeper sells a mobile for Rs. 5000, losing 10%. At what price should he sell it to gain 10%?

A. Rs. 5500

B. Rs. 6111.11

C. Rs. 5800

D. Rs. 6000

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Correct Answer: Option B

This question belongs to: Maths Profit And Loss

Question #166

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An article was sold at a loss of 10%. If it was sold at Rs. 90 more, there would have been a gain of 5%. Find the cost price.

A. Rs. 550

B. Rs. 500

C. Rs. 650

D. Rs. 600

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Correct Answer: Option D

Explanation:
Let CP = x. SP1 = 0.9x, SP2 = 1.05x. Difference = 0.15x = 90 => x = 600.

This question belongs to: Maths Profit And Loss

Question #167

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A person buys a T-shirt for Rs. 800 and sells it at a profit of 25%. What is the selling price?

A. Rs. 900

B. Rs. 950

C. Rs. 1000

D. Rs. 1050

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Correct Answer: Option C

Explanation:
SP = 800*1.25 = 1000.

This question belongs to: Maths Profit And Loss

Question #168

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If a shopkeeper sells an item at Rs. 450, he gains 12.5%. Find the cost price.

A. Rs. 380

B. Rs. 410

C. Rs. 400

D. Rs. 420

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Correct Answer: Option C

Explanation:
SP = 1.125 CP => CP = 450 / 1.125 = 400.

This question belongs to: Maths Profit And Loss

Question #169

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

A. 20%

B. 15%

C. 30%

D. 25%

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Correct Answer: Option A

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

This question belongs to: Maths Profit And Loss

Question #170

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The cost price of an article is Rs. 240. If it is sold at a loss of 12.5%, what is the selling price?

A. Rs. 220

B. Rs. 205

C. Rs. 215

D. Rs. 210

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Correct Answer: Option D

Explanation:
Loss = 12.5% of 240 = 30, SP = 240 - 30 = 210.

This question belongs to: Maths Profit And Loss

Question #171

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If the selling price of 10 articles is equal to the cost price of 11 articles, find the gain percent.

A. 9%

B. 10%

C. 12%

D. 11%

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Correct Answer: Option B

Explanation:
Let CP of 1 = 1, CP of 11 = 11, SP of 10 = 11 => SP of 1 = 1.1, gain = 10%.

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Question #172

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A shopkeeper purchases an item for Rs. 450 and sells it for Rs. 405. What is the loss percentage?

A. 10%

B. 15%

C. 12%

D. 8%

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Correct Answer: Option A

Explanation:
Loss = 45, loss% = 45/450*100=10%.

This question belongs to: Maths Profit And Loss

Question #173

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The marked price of an article is Rs. 1200. If the discount given is 15%, what is the selling price?

A. Rs. 1000

B. Rs. 1080

C. Rs. 1050

D. Rs. 1020

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Correct Answer: Option D

Explanation:
SP = 1200*0.85 = 1020.

This question belongs to: Maths Profit And Loss

Question #174

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The cost price of 20 articles is equal to the selling price of 16 articles. Find the profit percentage.

A. 30%

B. 20%

C. 16.67%

D. 25%

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Correct Answer: Option D

Explanation:
Let CP of 1 = 1, CP of 20 = 20, SP of 16 = 20 => SP of 1 = 20/16 = 1.25, profit = 25%.

This question belongs to: Maths Profit And Loss

Question #175

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A person sold a watch for Rs. 960, gaining 20%. What was its cost price?

A. Rs. 780

B. Rs. 840

C. Rs. 820

D. Rs. 800

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Correct Answer: Option D

Explanation:
CP = 960/1.2 = 800.

This question belongs to: Maths Profit And Loss

Question #176

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An article is sold at Rs. 540, earning a profit of 8%. What is the cost price?

A. Rs. 500

B. Rs. 520

C. Rs. 510

D. Rs. 480

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Correct Answer: Option A

Explanation:
CP = 540 / 1.08 = 500.

This question belongs to: Maths Profit And Loss

Question #177

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A dealer sells a book at a loss of 5%. If the selling price is Rs. 190, what is the cost price?

A. Rs. 210

B. Rs. 200

C. Rs. 195

D. Rs. 185

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Correct Answer: Option B

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

This question belongs to: Maths Profit And Loss

Question #178

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A man buys an article for Rs. 120 and sells it for Rs. 150. What is his gain percentage?

A. 30%

B. 15%

C. 25%

D. 20%

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Correct Answer: Option C

Explanation:
Gain = 30, gain% = (30/120)*100=25%.

This question belongs to: Maths Profit And Loss

Question #179

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A shopkeeper sells a fan at Rs. 450, making a profit of 12.5%. What is the cost price?

A. Rs. 420

B. Rs. 380

C. Rs. 410

D. Rs. 400

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Correct Answer: Option D

Explanation:
SP = 1.125 CP => CP = 450/1.125 = 400.

This question belongs to: Maths Profit And Loss

Question #180

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A person sells an item at a loss of 10%. If the selling price is Rs. 135, what is the cost price?

A. Rs. 145

B. Rs. 150

C. Rs. 140

D. Rs. 155

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Correct Answer: Option B

Explanation:
SP = 90% of CP => CP = 135/0.9 = 150.

This question belongs to: Maths Profit And Loss

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