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 #61
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A person sells a TV set for Rs. 9400 and makes a certain loss. If he sells it for Rs. 10600, his profit is double the amount of his previous loss. What is the cost price of the TV?
Correct Answer: Option A
Explanation:
Let Cost Price = x. Loss = x - 9400. Profit = 10600 - x. Profit = 2 * Loss. 10600 - x = 2 * (x - 9400). 10600 - x = 2x - 18800. 3x = 29400. x = 9800.
Let Cost Price = x. Loss = x - 9400. Profit = 10600 - x. Profit = 2 * Loss. 10600 - x = 2 * (x - 9400). 10600 - x = 2x - 18800. 3x = 29400. x = 9800.
This question belongs to:
Maths
Profit And Loss
Question #62
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A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
Correct Answer: Option A
Explanation:
Cost Price of 6 toffees = 1. Cost Price of 1 toffee = 1 / 6. Selling Price of 1 toffee to gain 20% = (1 / 6) * 1.20 = 1 / 5. He must sell 5 toffees for a rupee.
Cost Price of 6 toffees = 1. Cost Price of 1 toffee = 1 / 6. Selling Price of 1 toffee to gain 20% = (1 / 6) * 1.20 = 1 / 5. He must sell 5 toffees for a rupee.
This question belongs to:
Maths
Profit And Loss
Question #63
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By selling 45 lemons for Rs. 40, a man loses 20%. How many should he sell for Rs. 24 to gain 20%?
Correct Answer: Option D
Explanation:
Selling Price of 45 lemons = 40. Cost Price of 45 lemons = 40 / 0.80 = 50. Desired Selling Price for 45 lemons for 20% profit = 50 * 1.20 = 60. To get Rs. 60, he sells 45 lemons. To get Rs. 24, he must sell (45 / 60) * 24 = 18 lemons.
Selling Price of 45 lemons = 40. Cost Price of 45 lemons = 40 / 0.80 = 50. Desired Selling Price for 45 lemons for 20% profit = 50 * 1.20 = 60. To get Rs. 60, he sells 45 lemons. To get Rs. 24, he must sell (45 / 60) * 24 = 18 lemons.
This question belongs to:
Maths
Profit And Loss
Question #64
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A grocer purchased 80 kg of sugar at Rs. 13.50 per kg and mixed it with 120 kg of sugar at Rs. 16 per kg. At what rate should he sell the mixture to gain 16%?
Correct Answer: Option A
Explanation:
Total Cost = (80 * 13.50) + (120 * 16) = 1080 + 1920 = 3000. Total quantity = 200 kg. Cost Price per kg = 3000 / 200 = 15. Selling Price per kg for 16% gain = 15 * 1.16 = 17.40.
Total Cost = (80 * 13.50) + (120 * 16) = 1080 + 1920 = 3000. Total quantity = 200 kg. Cost Price per kg = 3000 / 200 = 15. Selling Price per kg for 16% gain = 15 * 1.16 = 17.40.
This question belongs to:
Maths
Profit And Loss
Question #65
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An article passing through two hands is sold at a profit of 38% at the original cost price. If the first dealer makes a profit of 15%, what is the profit percentage made by the second dealer?
Correct Answer: Option C
Explanation:
Let original Cost Price = 100. Final Selling Price = 138. First dealer's Selling Price = 115. Second dealer buys at 115 and sells at 138. Profit = 138 - 115 = 23. Profit percentage = (23 / 115) * 100 = 20%.
Let original Cost Price = 100. Final Selling Price = 138. First dealer's Selling Price = 115. Second dealer buys at 115 and sells at 138. Profit = 138 - 115 = 23. Profit percentage = (23 / 115) * 100 = 20%.
This question belongs to:
Maths
Profit And Loss
Question #66
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A shopkeeper sells a transistor at 15% above its cost price. If he had bought it at 5% more than what he paid for it and sold it for Rs. 6 more, he would have gained 10%. Find the cost price of the transistor.
Correct Answer: Option B
Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 105x. New Selling Price = 105x * 1.10 = 115.5x. Difference in Selling Price = 115.5x - 115x = 0.5x. 0.5x = 6. x = 12. Cost Price = 100 * 12 = 1200.
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 105x. New Selling Price = 105x * 1.10 = 115.5x. Difference in Selling Price = 115.5x - 115x = 0.5x. 0.5x = 6. x = 12. Cost Price = 100 * 12 = 1200.
This question belongs to:
Maths
Profit And Loss
Question #67
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A dealer offers a discount of 10% on the marked price of an article and still makes a profit of 20%. If its marked price is Rs. 800, find the cost price.
Correct Answer: Option C
Explanation:
Marked Price = 800. Selling Price = 800 * 0.90 = 720. Cost Price = 720 / 1.20 = 600.
Marked Price = 800. Selling Price = 800 * 0.90 = 720. Cost Price = 720 / 1.20 = 600.
This question belongs to:
Maths
Profit And Loss
Question #68
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A man buys oranges at 5 for Rs. 10 and an equal number at 4 for Rs. 10. He mixes them and sells the mixture at 9 for Rs. 20. Find his profit or loss percentage.
Correct Answer: Option C
Explanation:
Buy 20 oranges of type 1 for Rs. 40. Buy 20 oranges of type 2 for Rs. 50. Total 40 oranges cost Rs. 90. Cost Price of 1 orange = 90 / 40 = 2.25. Selling Price of 9 oranges = 20. Selling Price of 1 orange = 20 / 9 = 2.222. Loss = 2.25 - 2.222 = 0.0277. Loss percentage = (0.0277 / 2.25) * 100 = 1.23% loss.
Buy 20 oranges of type 1 for Rs. 40. Buy 20 oranges of type 2 for Rs. 50. Total 40 oranges cost Rs. 90. Cost Price of 1 orange = 90 / 40 = 2.25. Selling Price of 9 oranges = 20. Selling Price of 1 orange = 20 / 9 = 2.222. Loss = 2.25 - 2.222 = 0.0277. Loss percentage = (0.0277 / 2.25) * 100 = 1.23% loss.
This question belongs to:
Maths
Profit And Loss
Question #69
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The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make a 25% profit?
Correct Answer: Option D
Explanation:
Cost Price = (1920 + 1280) / 2 = 3200 / 2 = 1600. Desired Selling Price for 25% profit = 1600 * 1.25 = 2000.
Cost Price = (1920 + 1280) / 2 = 3200 / 2 = 1600. Desired Selling Price for 25% profit = 1600 * 1.25 = 2000.
This question belongs to:
Maths
Profit And Loss
Question #70
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Two lots of onions with equal quantity, one costing Rs. 10 per kg and the other costing Rs. 15 per kg, are mixed together and whole lot is sold at Rs. 15 per kg. What is the profit or loss percentage?
Correct Answer: Option C
Explanation:
Let quantity of each be 1 kg. Total Cost Price = 10 + 15 = 25 for 2 kg. Cost Price per kg = 12.5. Selling Price per kg = 15. Profit = 2.5. Profit percentage = (2.5 / 12.5) * 100 = 20%.
Let quantity of each be 1 kg. Total Cost Price = 10 + 15 = 25 for 2 kg. Cost Price per kg = 12.5. Selling Price per kg = 15. Profit = 2.5. Profit percentage = (2.5 / 12.5) * 100 = 20%.
This question belongs to:
Maths
Profit And Loss
Question #71
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A merchant marks his goods up by 50% and offers a discount of 20%. In addition, he gives 1 article free with every 4 articles bought. What is his net profit percentage?
Correct Answer: Option C
Explanation:
Let Cost Price of 1 article = 100. Cost Price of 5 articles = 500. Marked Price of 1 article = 150. Customer takes 5 articles but pays for 4. Selling Price of 4 articles = 4 * 150 * 0.80 = 480. Net Selling Price = 480. Net Cost Price = 500. Loss = 20. Loss percentage = (20 / 500) * 100 = 4%.
Let Cost Price of 1 article = 100. Cost Price of 5 articles = 500. Marked Price of 1 article = 150. Customer takes 5 articles but pays for 4. Selling Price of 4 articles = 4 * 150 * 0.80 = 480. Net Selling Price = 480. Net Cost Price = 500. Loss = 20. Loss percentage = (20 / 500) * 100 = 4%.
This question belongs to:
Maths
Profit And Loss
Question #72
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A trader sells an article at a 15% profit. If he buys it at 10% less and sells it for Rs. 4 less, he still makes a 25% profit. Find the original cost price.
Correct Answer: Option B
Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 90x. New Selling Price = 90x * 1.25 = 112.5x. Difference = 115x - 112.5x = 2.5x. 2.5x = 4. x = 1.6. Cost Price = 100 * 1.6 = 160.
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 90x. New Selling Price = 90x * 1.25 = 112.5x. Difference = 115x - 112.5x = 2.5x. 2.5x = 4. x = 1.6. Cost Price = 100 * 1.6 = 160.
This question belongs to:
Maths
Profit And Loss
Question #73
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A shopkeeper allows a successive discount of 20% and 10%. By what percentage should the marked price be above the cost price so that the shopkeeper makes a profit of 8%?
Correct Answer: Option A
Explanation:
Equivalent discount = 20 + 10 - (200 / 100) = 28%. Let Cost Price = 100. Selling Price = 108. Marked Price * (1 - 0.28) = 108. Marked Price * 0.72 = 108. Marked Price = 108 / 0.72 = 150. Markup percentage = 50%.
Equivalent discount = 20 + 10 - (200 / 100) = 28%. Let Cost Price = 100. Selling Price = 108. Marked Price * (1 - 0.28) = 108. Marked Price * 0.72 = 108. Marked Price = 108 / 0.72 = 150. Markup percentage = 50%.
This question belongs to:
Maths
Profit And Loss
Question #74
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A person buys 80 kg of rice and sells it at a profit of as much money as he paid for 30 kg. His profit percentage is:
Correct Answer: Option C
Explanation:
Let Cost Price of 1 kg = 1. Cost Price of 80 kg = 80. Profit = Cost Price of 30 kg = 30. Profit percentage = (30 / 80) * 100 = 37.5%.
Let Cost Price of 1 kg = 1. Cost Price of 80 kg = 80. Profit = Cost Price of 30 kg = 30. Profit percentage = (30 / 80) * 100 = 37.5%.
This question belongs to:
Maths
Profit And Loss
Question #75
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A table is sold for Rs. 450 at a loss of 10%. What is the cost price of the table?
Correct Answer: Option D
Explanation:
Selling Price = 450. Loss = 10%. Cost Price = 450 / 0.90 = 500.
Selling Price = 450. Loss = 10%. Cost Price = 450 / 0.90 = 500.
This question belongs to:
Maths
Profit And Loss
Question #76
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A shopkeeper bought a bag for Rs. 720 and sold it for Rs. 840. What is his profit percentage?
Correct Answer: Option C
Explanation:
Profit = 840 - 720 = 120. Profit percentage = (120 / 720) * 100 = 16.67%.
Profit = 840 - 720 = 120. Profit percentage = (120 / 720) * 100 = 16.67%.
This question belongs to:
Maths
Profit And Loss
Question #77
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The marked price of an item is Rs. 1200. A discount of 15% is offered. What is the selling price?
Correct Answer: Option A
Explanation:
Discount = 15% of 1200 = 180. Selling Price = 1200 - 180 = 1020.
Discount = 15% of 1200 = 180. Selling Price = 1200 - 180 = 1020.
This question belongs to:
Maths
Profit And Loss
Question #78
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By selling a heater for Rs. 600, a merchant gains 25%. Find the cost price.
Correct Answer: Option A
Explanation:
Selling Price = 600. Profit = 25%. Cost Price = 600 / 1.25 = 480.
Selling Price = 600. Profit = 25%. Cost Price = 600 / 1.25 = 480.
This question belongs to:
Maths
Profit And Loss
Question #79
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A book marked at Rs. 500 is sold for Rs. 400. What is the discount percentage?
Correct Answer: Option A
Explanation:
Marked Price = 500. Selling Price = 400. Discount = 100. Discount percentage = (100 / 500) * 100 = 20%.
Marked Price = 500. Selling Price = 400. Discount = 100. Discount percentage = (100 / 500) * 100 = 20%.
This question belongs to:
Maths
Profit And Loss
Question #80
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A boy buys 12 pencils for Rs. 10 and sells 10 pencils for Rs. 12. Find his gain percentage.
Correct Answer: Option B
Explanation:
Cost Price of 1 pencil = 10 / 12 = 5 / 6. Selling Price of 1 pencil = 12 / 10 = 6 / 5. Profit = (6 / 5) - (5 / 6) = (36 - 25) / 30 = 11 / 30. Profit percentage = ((11 / 30) / (5 / 6)) * 100 = (11 / 25) * 100 = 44%.
Cost Price of 1 pencil = 10 / 12 = 5 / 6. Selling Price of 1 pencil = 12 / 10 = 6 / 5. Profit = (6 / 5) - (5 / 6) = (36 - 25) / 30 = 11 / 30. Profit percentage = ((11 / 30) / (5 / 6)) * 100 = (11 / 25) * 100 = 44%.
This question belongs to:
Maths
Profit And Loss
