Profit and Loss MCQs for Competitive Examination
Solve the following problems.
Q. 1
By selling an article for Rs 450, I lose 20%. For what price should I sell it to gain 20%?
(A) Rs 490
(B) Rs 675
(C) Rs 470
(D) Rs 562.50
Answer: (B) Rs 675
Explanation: N/A
Q. 2
If bananas are bought at the rate of 4 for a rupee, how many must be sold for a rupee so as to gain 33(1/3)%?
(A) 2.5
(B) 2
(C) 3
(D) 4
Answer: (C) 3
Explanation: N/A
Q. 3
There is a 10% loss if an article is sold at Rs 270. Then the cost price of the article is
(A) Rs 300
(B) Rs 270
(C) Rs 320
(D) Rs 250
Answer: (A) Rs 300
Explanation: N/A
Q. 4
A dishonest grocer sells rice at a profit of 10% and also uses weights which are 20% less than the marked weight. The total gain earned by him will be
(A) 37.5%
(B) 40%
(C) 30.5%
(D) 35%
Answer: (A) 37.5%
Explanation: N/A
Q. 5
A merchant loses 10% by selling an article. If the cost price of the article is Rs 15, then the selling price of the article is
(A) Rs 13.20
(B) Rs 16.50
(C) Rs 12.30
(D) Rs 13.50
Answer: (D) Rs 13.50
Explanation: N/A
Q. 6
If the selling price of an article is 1(1/3) of cost price, find the gain %.
(A) 25 %
(B) 33(1/3) %
(C) 1.33 %
(D) 66(2/3) %
Answer: (B) 33(1/3) %
Explanation: N/A
Q. 7
A loss of 19% gets converted into a profit of 17% when the selling price is increased by Rs 162. The cost price of the article is
(A) Rs 450
(B) Rs 600
(C) Rs 360
(D) Rs 540
Answer: (A) Rs 450
Explanation: N/A
Q. 8
If a shirt costs Rs 64 after a 20% discount is allowed, what was its original price in Rs?
(A) 76.80
(B) 80
(C) 88
(D) 86.80
Answer: (B) 80
Explanation: N/A
Q. 9
A retailer buys a radio for Rs 225. His overhead expenses are Rs 15. He sells the radio for Rs 300. The profit percent of the retailer is
(A) 25 %
(B) 26(2/3) %
(C) 20 %
(D) 33(1/3) %
Answer: (A) 25 %
Explanation: N/A
Q. 10
The cost price of a radio is Rs 600. The 5% of the cost price is charged towards transportation. After adding that, if the net profit to be made is 15%, then the selling price of the radio must be
(A) Rs 704.50
(B) Rs 724.50
(C) Rs 664.50
(D) Rs 684.50
Answer: (B) Rs 724.50
Explanation: N/A
Q. 11
A merchant purchases a wristwatch for Rs 450 and fixes its list price in such a way that after allowing a discount of 10%, he earns a profit of 20%. Then the list price of the watch is
(A) Rs 650
(B) Rs 700
(C) Rs 550
(D) Rs 600
Answer: (D) Rs 600
Explanation: N/A
Q. 12
While selling to the retailer, a company allows a 30% discount on the marked price of their products. If the retailer sells those products at the marked price, his profit % will be
(A) 30 %
(B) 42(1/7) %
(C) 40 %
(D) 42(6/7) %
Answer: (D) 42(6/7) %
Explanation: N/A
Q. 13
An item when sold for if Rs 1690 earned 30% profit on the cost price. Then the cost price is
(A) Rs 507
(B) Rs 630
(C) Rs 1300
(D) Rs 130
Answer: (C) Rs 1300
Explanation: N/A
Q. 14
A man sells two articles for Rs 5000 each neither losing nor gaining in the deal. If he sold one of them at a gain of 25%, the other article is sold at a loss of
(A) 15(2/3)%
(B) 16(2/3)%
(C) 17(1/3)%
(D) 18(1/3)%
Answer: (B) 16(2/3)%
Explanation: N/A
Q. 15
A fan is listed Rs 7150 and a discount of 20% is given. Then the selling price is
(A) Rs 180
(B) Rs 7150
(C) Rs 7120
(D) Rs 7110
Answer: (C) Rs 7120
Explanation: N/A
Q. 16
By selling a car for Rs 64,000, Mr Rao lost 20%. Then the cost price of the car is
(A) Rs 72000
(B) Rs 76000
(C) Rs 80000
(D) Rs 84000
Answer: (C) Rs 80000
Explanation: N/A
Q. 17
A salesman expects a gain of 13% on his cost price. If in a month his sale was Rs 7, 91,000. What was his profit?
(A) Rs 85659
(B) Rs 88300
(C) Rs 91000
(D) Rs 97786
Answer: (C) Rs 91000
Explanation: N/A
Q. 18
By selling an article for Rs 960 a man incurs a loss of 4%; what was the cost price?
(A) Rs 1000
(B) Rs 784
(C) Rs 498.4
(D) Rs 300
Answer: (A) Rs 1000
Explanation: N/A
Q. 19
A milkman bought 70 litres of milk for Rs 630 and added 5 litres of water. If he sells it at Rs 9.00 per litre, his profit percentage is
(A) 8(1/5) %
(B) 7 %
(C) 8(2/5) %
(D) 7(1/7) %
Answer: (D) 7(1/7) %
Explanation: N/A
Q. 20
If the cost price is 95% of the selling price, what is the profit percent?
(A) 4 %
(B) 5 %
(C) 4.75 %
(D) 5.26 %
Answer: (D) 5.26 %
Explanation: N/A