Profit And Loss MCQs
Practice Profit and Loss MCQs with answers and detailed explanations. Learn concepts such as cost price, selling price, profit percentage, loss percentage, discount, marked price and quantitative aptitude questions designed for SSC, Railway, Banking, UPSC, JKSSB, Police, Teaching and other competitive exams.
Question #41
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A reduction of 20% in the price of sugar enables a person to buy 5 kg more for Rs. 400. What is the original price per kg?
Correct Answer: Option D
Explanation:
Let original price = P. Reduced price = 0.8P. (400 / 0.8P) - (400 / P) = 5. (500 / P) - (400 / P) = 5. 100 / P = 5. P = 20.
Let original price = P. Reduced price = 0.8P. (400 / 0.8P) - (400 / P) = 5. (500 / P) - (400 / P) = 5. 100 / P = 5. P = 20.
This question belongs to:
Maths
Profit And Loss
Question #42
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A merchant earns a 25% profit on the selling price of an article. What is his true profit percentage on the cost price?
Correct Answer: Option B
Explanation:
Let Selling Price = 100. Profit = 25. Cost Price = 100 - 25 = 75. True profit percentage = (25 / 75) * 100 = 33.33%.
Let Selling Price = 100. Profit = 25. Cost Price = 100 - 25 = 75. True profit percentage = (25 / 75) * 100 = 33.33%.
This question belongs to:
Maths
Profit And Loss
Question #43
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A trader mixes two varieties of tea costing Rs. 50/kg and Rs. 60/kg in the ratio 2:3. He sells the mixture at Rs. 67.20/kg. Find his profit percentage.
Correct Answer: Option B
Explanation:
Cost of 5 kg mixture = (2 * 50) + (3 * 60) = 100 + 180 = 280. Cost per kg = 280 / 5 = 56. Selling Price = 67.20. Profit = 11.20. Profit percentage = (11.20 / 56) * 100 = 20%.
Cost of 5 kg mixture = (2 * 50) + (3 * 60) = 100 + 180 = 280. Cost per kg = 280 / 5 = 56. Selling Price = 67.20. Profit = 11.20. Profit percentage = (11.20 / 56) * 100 = 20%.
This question belongs to:
Maths
Profit And Loss
Question #44
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An article is sold for Rs. 144. If the percentage of profit is numerically equal to the cost price, find the cost price.
Correct Answer: Option B
Explanation:
Let Cost Price = x. Profit percentage = x%. Selling Price = x * (1 + x/100) = 144. x^2 + 100x - 14400 = 0. Solving gives x = 80. Cost Price = Rs. 80.
Let Cost Price = x. Profit percentage = x%. Selling Price = x * (1 + x/100) = 144. x^2 + 100x - 14400 = 0. Solving gives x = 80. Cost Price = Rs. 80.
This question belongs to:
Maths
Profit And Loss
Question #45
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A manufacturer sells to a wholesaler at a profit of 20%. The wholesaler sells to a retailer at a profit of 25%. The retailer sells to a customer at a profit of 40%. If the customer pays Rs. 4200, find the manufacturing cost.
Correct Answer: Option C
Explanation:
Let Manufacturing Cost = X. X * 1.20 * 1.25 * 1.40 = 4200. X * 1.50 * 1.40 = 4200. 2.10X = 4200. X = 2000.
Let Manufacturing Cost = X. X * 1.20 * 1.25 * 1.40 = 4200. X * 1.50 * 1.40 = 4200. 2.10X = 4200. X = 2000.
This question belongs to:
Maths
Profit And Loss
Question #46
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A shopkeeper gives 1 article free on the purchase of every 4 articles. He also allows an additional discount of 20%. Find his total net discount percentage.
Correct Answer: Option B
Explanation:
Customer gets 5 articles but pays for 4. Discount from free item = (1/5) * 100 = 20%. Two successive discounts of 20% and 20%. Equivalent discount = 20 + 20 - (400/100) = 36%.
Customer gets 5 articles but pays for 4. Discount from free item = (1/5) * 100 = 20%. Two successive discounts of 20% and 20%. Equivalent discount = 20 + 20 - (400/100) = 36%.
This question belongs to:
Maths
Profit And Loss
Question #47
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The profit earned by selling an article for Rs. 1630 is the same as the loss incurred by selling it for Rs. 1320. At what price should it be sold to earn a 20% profit?
Correct Answer: Option A
Explanation:
Cost Price = (1630 + 1320) / 2 = 2950 / 2 = 1475. Desired Selling Price = 1475 * 1.20 = 1770.
Cost Price = (1630 + 1320) / 2 = 2950 / 2 = 1475. Desired Selling Price = 1475 * 1.20 = 1770.
This question belongs to:
Maths
Profit And Loss
Question #48
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A man buys 100 oranges for Rs. 400. 20 oranges are rotten and thrown away. At what rate per dozen should he sell the remaining oranges to gain 20% on the whole transaction?
Correct Answer: Option B
Explanation:
Total Cost Price = 400. Desired Total Selling Price = 400 * 1.20 = 480. Remaining oranges = 80. Selling Price per orange = 480 / 80 = 6. Selling Price per dozen = 6 * 12 = 72.
Total Cost Price = 400. Desired Total Selling Price = 400 * 1.20 = 480. Remaining oranges = 80. Selling Price per orange = 480 / 80 = 6. Selling Price per dozen = 6 * 12 = 72.
This question belongs to:
Maths
Profit And Loss
Question #49
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By selling a product for Rs. 425, a man loses 15%. To gain 5%, at what price should he sell?
Correct Answer: Option C
Explanation:
Cost Price = 425 / 0.85 = 500. Selling Price for 5% gain = 500 * 1.05 = 525.
Cost Price = 425 / 0.85 = 500. Selling Price for 5% gain = 500 * 1.05 = 525.
This question belongs to:
Maths
Profit And Loss
Question #50
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A trader marks his goods such that after allowing a 16.66% discount, he earns a profit of 25%. What is the ratio of Cost Price to Marked Price?
Correct Answer: Option C
Explanation:
Discount = 1/6 of MP. Selling Price = (5/6) * MP. Profit = 25% = 1/4 of CP. Selling Price = (5/4) * CP. (5/6) * MP = (5/4) * CP. CP / MP = (5/6) / (5/4) = 4/6 = 2/3.
Discount = 1/6 of MP. Selling Price = (5/6) * MP. Profit = 25% = 1/4 of CP. Selling Price = (5/4) * CP. (5/6) * MP = (5/4) * CP. CP / MP = (5/6) / (5/4) = 4/6 = 2/3.
This question belongs to:
Maths
Profit And Loss
Question #51
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A book was sold at a 12% profit. If it had been bought at 10% less and sold for Rs. 5.75 more, the profit would have been 30%. Find the cost price.
Correct Answer: Option D
Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 112x. New Cost Price = 90x. New Selling Price = 90x * 1.30 = 117x. Difference in Selling Price = 117x - 112x = 5x. 5x = 5.75. x = 1.15. Cost Price = 100 * 1.15 = 115.
Let initial Cost Price = 100x. Initial Selling Price = 112x. New Cost Price = 90x. New Selling Price = 90x * 1.30 = 117x. Difference in Selling Price = 117x - 112x = 5x. 5x = 5.75. x = 1.15. Cost Price = 100 * 1.15 = 115.
This question belongs to:
Maths
Profit And Loss
Question #52
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The marked price of an article is Rs. 5000. A shopkeeper gives two successive discounts of x% and 20%. If the customer pays Rs. 3400, find the value of x.
Correct Answer: Option D
Explanation:
Price after 20% discount = 5000 * 0.80 = 4000. Further discount given = 4000 - 3400 = 600. Discount percentage x = (600 / 4000) * 100 = 15%.
Price after 20% discount = 5000 * 0.80 = 4000. Further discount given = 4000 - 3400 = 600. Discount percentage x = (600 / 4000) * 100 = 15%.
This question belongs to:
Maths
Profit And Loss
Question #53
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A trader mixes 26 kg of wheat at Rs. 20/kg with 30 kg of wheat at Rs. 36/kg and sells the mixture at Rs. 30/kg. What is his profit percentage?
Correct Answer: Option A
Explanation:
Total Cost Price = (26 * 20) + (30 * 36) = 520 + 1080 = 1600. Total quantity = 56 kg. Total Selling Price = 56 * 30 = 1680. Profit = 80. Profit percentage = (80 / 1600) * 100 = 5%.
Total Cost Price = (26 * 20) + (30 * 36) = 520 + 1080 = 1600. Total quantity = 56 kg. Total Selling Price = 56 * 30 = 1680. Profit = 80. Profit percentage = (80 / 1600) * 100 = 5%.
This question belongs to:
Maths
Profit And Loss
Question #54
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A man sells two articles for Rs. 396 each. On one, he gains 10% and on the other, he loses 10%. Find his total profit or loss in rupees.
Correct Answer: Option C
Explanation:
Cost Price 1 = 396 / 1.10 = 360. Cost Price 2 = 396 / 0.90 = 440. Total Cost Price = 800. Total Selling Price = 792. Loss = 800 - 792 = Rs. 8.
Cost Price 1 = 396 / 1.10 = 360. Cost Price 2 = 396 / 0.90 = 440. Total Cost Price = 800. Total Selling Price = 792. Loss = 800 - 792 = Rs. 8.
This question belongs to:
Maths
Profit And Loss
Question #55
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If goods are purchased for Rs. 840 and one-fourth of them are sold at a loss of 20%, at what profit percentage should the remainder be sold to gain 20% on the whole transaction?
Correct Answer: Option B
Explanation:
Total Cost Price = 840. Target Selling Price = 840 * 1.20 = 1008. Cost Price of one-fourth = 210. Selling Price of this part = 210 * 0.80 = 168. Remaining Selling Price needed = 1008 - 168 = 840. Cost Price of remainder = 630. Profit required on remainder = 840 - 630 = 210. Profit percentage = (210 / 630) * 100 = 33.33%.
Total Cost Price = 840. Target Selling Price = 840 * 1.20 = 1008. Cost Price of one-fourth = 210. Selling Price of this part = 210 * 0.80 = 168. Remaining Selling Price needed = 1008 - 168 = 840. Cost Price of remainder = 630. Profit required on remainder = 840 - 630 = 210. Profit percentage = (210 / 630) * 100 = 33.33%.
This question belongs to:
Maths
Profit And Loss
Question #56
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A dishonest dealer marks up his goods by 20% and then gives a discount of 10%. He uses a 900g weight instead of 1kg. What is his actual profit percentage?
Correct Answer: Option C
Explanation:
Actual Cost Price for 900g = 900. Marked Price for 1000g = 1200. Selling Price after 10% discount = 1080. He claims to sell 1000g but gives 900g. Profit = 1080 - 900 = 180. Profit percentage = (180 / 900) * 100 = 20%.
Actual Cost Price for 900g = 900. Marked Price for 1000g = 1200. Selling Price after 10% discount = 1080. He claims to sell 1000g but gives 900g. Profit = 1080 - 900 = 180. Profit percentage = (180 / 900) * 100 = 20%.
This question belongs to:
Maths
Profit And Loss
Question #57
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A fruit vendor buys apples at the rate of 5 for Rs. 10 and sells them at the rate of 4 for Rs. 12. His gain percent is:
Correct Answer: Option C
Explanation:
Cost Price of 1 apple = 10 / 5 = 2. Selling Price of 1 apple = 12 / 4 = 3. Profit = 1. Profit percentage = (1 / 2) * 100 = 50%.
Cost Price of 1 apple = 10 / 5 = 2. Selling Price of 1 apple = 12 / 4 = 3. Profit = 1. Profit percentage = (1 / 2) * 100 = 50%.
This question belongs to:
Maths
Profit And Loss
Question #58
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Ravi sold an article to Mohan at a profit of 10%. Mohan sold it to Shyam at a profit of 20%. If Shyam paid Rs. 1320, find the cost price for Ravi.
Correct Answer: Option B
Explanation:
Let Ravi's Cost Price = X. X * 1.10 * 1.20 = 1320. 1.32X = 1320. X = 1000.
Let Ravi's Cost Price = X. X * 1.10 * 1.20 = 1320. 1.32X = 1320. X = 1000.
This question belongs to:
Maths
Profit And Loss
Question #59
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A shopkeeper allows a 10% discount on the marked price of a camera. If the camera costs him Rs. 600, what should be the marked price to make a profit of 20%?
Correct Answer: Option C
Explanation:
Cost Price = 600. Target Selling Price for 20% profit = 600 * 1.20 = 720. Marked Price * 0.90 = 720. Marked Price = 720 / 0.90 = 800.
Cost Price = 600. Target Selling Price for 20% profit = 600 * 1.20 = 720. Marked Price * 0.90 = 720. Marked Price = 720 / 0.90 = 800.
This question belongs to:
Maths
Profit And Loss
Question #60
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If an article is sold at a 200% profit, the ratio of its cost price to its selling price will be:
Correct Answer: Option B
Explanation:
Let Cost Price = 100. Profit = 200. Selling Price = 300. Ratio of Cost Price to Selling Price = 100 : 300 = 1 : 3.
Let Cost Price = 100. Profit = 200. Selling Price = 300. Ratio of Cost Price to Selling Price = 100 : 300 = 1 : 3.
This question belongs to:
Maths
Profit And Loss
