Profit and Loss MCQ Questions and answers with easy and logical explanations to help aspirants prepare for competitive exams. Multiple Choice Questions (MCQ) on profit and loss are asked in competitive exams like Bank, SSC, Railways, Insurance, CDS, AFCAT, CAPF AC, CLAT, Police exams & State PSU exams
1. A shopkeeper labelled the price of his articles so as to earn a profit of 30% on the cost price. He,then sold the articles by offering a discount of 10% on the labelled price. What is the actual percent profit earned in the deal?
(a) 18%
(b) 15%
(c) 20%
(d) Cannot be determined
(e) None of these
Solution: (e)
Let the cost price of the articles be ₹100
Marked Price = ₹130
After giving a discount of 10% the selling price of the
articles = 0.9 × 130 = 117
So, actual profit percent = \(\displaystyle \frac{{117-100}}{{100}}\times 100=17\%\)
2. The owner of an electronic store charges his customer 11 % more than the cost price. If a customer paid ₹1,33,200 for an LED T.V., then what was the original price of the T. V. ?
(a) ₹ 1,20,000
(b) ₹ 1,14,500
(c) ₹ 1,22,500
(d) ₹ 1,18,000
(e) None of these
Solution: (a)
Let original price of TV = x
Customer paid = 111% of x = ₹ 133200
x = \(\displaystyle \frac{{133200\times 100}}{{111}}=120000\)
3. Mohan sold an item for ₹ 4,510 and incurred a loss of 45%. At what price should he have sold the item to have gained a profit of 45%?
(a) ₹ 10,900
(b) ₹ 12,620
(c) ₹ 11,890
(d) Cannot be determined
(e) None of these
Solution: (c)
Let cost price of article = x
Now 55% of x = Rs. 4510
Therefore x = \(\displaystyle \frac{{4510}}{{55}}\times 100=8200\)
To gain profit of 45% selling price is 145 % of 8200 is ₹11890
4. Meera purchased 23 bracelets at the rate of `160 per bracelet. At what rate per bracelet should she sell the bracelets so that profit earned is 15% ?
(a) ₹ 184/-
(b) ₹ 186/-
(c) ₹ 192/-
(d) ₹ 198/-
(e) None of these
Solution: (a)
Cost of 23 bracelet purchased at rate of ₹ 160/bracelet
= ₹ 23 × 160 = ₹ 3680
If profit earned is 15%, then
Profit amount = \(\displaystyle \frac{{3680\times 15}}{{100}}=552\)
Total amount Meera have after selling 23 bracelets
= 3680 + 552 = 4232
S.P. of one bracelet = \(\displaystyle \frac{{4232}}{{23}}=184\)
5. A certain number of capsules were purchased for ₹ 21,615 more capsules could have been purchased in the same amount if each capsule was cheaper by ₹ 10. What was the number of capsules purchased?
(a) 6
(b) 14
(c) 8
(d) 12
(e) 9
Solution: (d)
Let x be the price of one capsule y be the total number of capsule.
xy = 216 …(1)
(x – 10) (y + 15) = 216 …(2)
From eqs (1) and (2)
\(\displaystyle \begin{array}{l}\left( {\frac{{216}}{y}-10} \right)(y+15)=216\\(216-10y)(y+15)=216y\\216y+216\times 15-10{{y}^{2}}-150y=216y\\216y+3240-10{{y}^{2}}-150y=216y\\-10{{y}^{2}}-150y+3240=0\\{{y}^{2}}+15y-324=0\\y=12\end{array}\)
6. Pure milk costs ₹ 16 per litre. After adding water the milkman sells the mixture ₹ 15 per litre and thereby makes a profit of 25%. In what respective ratio does he mix milk with water?
(a) 3 : 1
(b) 4 : 3
(c) 3 : 2
(d) 5 : 3
(e) 4 : 1
Solution : (a)
SP of the mixture = ₹ 15
Therefore, CP of the mixture = \(\displaystyle 15\times \frac{{100}}{{125}}=12\)
Now, by the rule of mixture,
\(\displaystyle \Rightarrow \)Ratio of milk and water in the mixture
= 12 : 4 = 3 : 1
Alternate method
We know:
Profit = Selling Price – Cost Price
Let’s assume that the cost price of the mixture is x.
Profit = Selling Price – Cost Price
0.25x = 15 – x
0.25x + x = 15
x = 15/1.25
x = 12
So, the cost price of the mixture is Rs. 12 per litre.
We know that the cost price of pure milk is Rs. 16 per litre.
Let’s assume that the ratio of milk to water in the mixture is a:b.
This means that for every 4 parts of the mixture, 3 parts are pure milk, and 1 part is water. So, the respective ratio of milk to water in the mixture is 3:1
One more method
Let X is the cost of pure Milk. Then,
Cost of Mixture,
X + 25% of X = 15
100X + 25X = 15 × 100
125X = 15 × 100
X = 1500/125 = Rs. 12.
So, Milk of Rs. 12 sold at Rs. 15.
Part of Milk buyer gets in 12,
In Rs. 16 = 1 lit milk.
So, in 12 = \(\displaystyle \frac{{12}}{{16}}=\frac{3}{4}\) part milk he gets and \(\displaystyle \frac{1}{3}\) part water.
Therefore ratio Milk : water
\(\displaystyle \frac{3}{4}:\frac{1}{3}\) = 3 : 1
7. A man sells three motors for ₹ 5,400, ₹ 3,300 and ₹ 4,350 respectively. He makes 20% profit on the first and 10% profit on the second but on the whole, he loses \(\displaystyle 9\frac{3}{8}\%\). What did the third motor car cost him ?
(a) ₹ 6500
(b) ₹ 6900
(c) ₹ 5100
(d) ₹ 7200
(e) None of these
Solution: (b)
S.P. for the first car = ₹ 5,400 and profit = 20%
We know,
CP= \(\displaystyle \frac{{100}}{{100+profit\%}}\times SP\)
\(\displaystyle \Rightarrow \)C.P. for the first car = \(\displaystyle \frac{{100}}{{120}}\times 5400=4500\)
Similarly,
S.P. for the second car = ₹ 3,300 and profit = 10%
\(\displaystyle \Rightarrow \)C.P. for second car = \(\displaystyle \frac{{100}}{{110}}\times 3300=3000\)
and loss = \(\displaystyle \frac{{75}}{8}\%\)
S.P. of three cars = 5,400 + 3,300 + 4350 = ₹ 13,050
\(\displaystyle \Rightarrow \)Total C.P. for the three cars = \(\displaystyle \frac{{100\times 8}}{{725}}\times 13050\)
= 14,400
Therefore, C.P. for third car = 14,400 – 4,500 – 3,000 = ₹ 6,900
8. The marked price of a watch was ₹720. A man bought the same for ₹550.80 after getting two successive discounts, the first being 10%. The second discount rate is
(a) 12%
(b) 14%
(c) 15%
(d) 18%
(e) None of these
Solution: (c)
Let the second discount be x%. Then(100 – x)% of 90% of 720 = 550.80
9. A man bought a horse and a carriage for ₹ 3000. He sold the horse at a gain of 20% and the carriage at a loss 10%, thereby gaining 2% on the whole. Find the cost of the horse.
(a) ₹ 1000
(b) ₹ 1200
(c) ₹ 1500
(d) ₹ 1700
(e) None of these
Solution: (b)
Let the C.P. of horse = ₹ x
Then the C.P. of carriage = ₹ (3000 – x)
20% of x – 10% of (3000 – x) = 2% of 3000
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{x}{5}-\frac{{(3000-x)}}{{10}}=60\)
\(\displaystyle \Rightarrow \)2x – 3000 + x = 600
\(\displaystyle \Rightarrow \) 3x = 3600
\(\displaystyle \Rightarrow \) x=₹ 1200
10. A manufacturer sells a pair of glasses to a wholesale dealer at a profit of 18%. The wholesaler sells the same to a retailer at a profit of 20%. The retailer in turn sells them to a customer for ₹ 30.09, thereby earning a profit of 25%. The cost price for the manufacturer is
(a) ₹15
(b) ₹ 16
(c) ₹ 17
(d) ₹ 18
(e) None of these
Solution: (c)
Let the cost price of manufactures is = P
Selling price of manufacturer = \(\displaystyle p+p\times \frac{{18}}{{100}}=\frac{{59p}}{{50}}\)
Wholesaler selling price = \(\displaystyle \frac{{354p}}{{250}}+\frac{{354p}}{{250}}\times \frac{{20}}{{100}}\)
= \(\displaystyle \frac{{59p}}{{50}}+\frac{{59p}}{{250}}=\frac{{354p}}{{250}}\)
Retailer selling price = \(\displaystyle \frac{{354p}}{{250}}+\frac{{354p}}{{250}}\times \frac{{25}}{{100}}\)
= \(\displaystyle \frac{{354p}}{{240}}+\frac{{177p}}{{500}}=\frac{{805p}}{{500}}\)
Now, \(\displaystyle \frac{{805p}}{{500}}=30.09\)
\(\displaystyle \Rightarrow \) P=17
11. The profit earned after selling a pair of shoes for ₹ 2,033 is the same as loss incurred after selling the same pair of shoes for ₹ 1,063. What is the cost of the shoes ?
(a) ₹ 1,650
(b) ₹ 1,548
(c) ₹ 1,532
(d) Cannot be determined
(e) None of these
Solution: (b)
Let the CP of the shoes be ₹ x.
Therefore, 2033 – x = x – 163
\(\displaystyle \Rightarrow \) 2x = 2033 + 1063 = 3096
\(\displaystyle \Rightarrow \) x = \(\displaystyle \frac{{3096}}{2}=1548\)
12. Gauri went to the stationery and bought things worth ₹25, out of which 30 paise went on sales tax on taxable purchases. If the tax rate was 6%, then what was the cost of the tax free items?
(a) ₹15
(b) ₹15.70
(c) ₹19.70
(d) ₹20
(e) None of these
Solution: (c)
Let the amount taxable purchases be Rs. x.
Then, 6% of x = \(\displaystyle \frac{{30}}{{100}}\)
\(\displaystyle \Rightarrow \) x = \(\displaystyle (\frac{{30}}{{100}}\times \frac{{100}}{6})=5\)
Cost of tax-free items = ₹ [25 – (5 + 0.30)] = ₹19.70
13. Naresh purchased a TV set for ₹11,250 after getting discount of 10% on the labelled price. He spent ₹150 on transport and ₹800 on installation. At what price should it be sold so that the profit earned would be 15% if no discount was offered?
(a) ₹12,937.50
(b) ₹14,030
(c) ₹ 13,450
(d) ₹15,467.50
(e) None of these
Solution: (d)
Cost price of TV when discount is not offered
\(\displaystyle 11250\times \frac{{100}}{{90}}=12500\)
Total cost of TV after transport and installation
= 12500 + 800 + 150 = 13450
To earn 15% profit, he must sell at
\(\displaystyle 13450\times \frac{{115}}{{100}}=15467.50\)
14. A person sold an article from ₹3600 and got a profit of 20%. Had he sold the article for ₹ 3150, how much profit would he have got?
(a) 4%
(b) 5%
(c) 6%
(d) 10%
(e) None of these
Solution: (b)
Let the cost price of the article be ₹ x
After 20% profit
\(\displaystyle \Rightarrow \) x = \(\displaystyle \frac{{120x}}{{100}}=3600\)
x = 3000
Now, profit percentage, when the article is sold for ₹ 3150
\(\displaystyle \Rightarrow \) \(\displaystyle \frac{{3150-3000}}{{3000}}\times 100-\frac{{150}}{{3000}}\times 100=5\%\)
15. A refrigerator and a camera were sold for Rs. 12000 each. The refrigerator was sold at a loss of 20% of the cost and the camera at a gain of 20% of the cost. The entire transaction results in which one of the following?
(a) No loss or gain
(b) Loss of ₹ 1000
(c) Gain of ₹ 1000
(d) Loss of ₹ 2000
(e) None of these
Solution: (b)
\(\displaystyle X+Y+\frac{{XY}}{{100}}=+20-20-\frac{{20\times 20}}{{100}}=-4\%\)
Total selling price of a refrigerator and a camera
= 12000 + 12000 = ₹ 24000
Now, loss is 4%
\(\displaystyle CP\times \frac{{96}}{{100}}=24000\)
CP = ₹ 25000
Loss amount = (25000 – 24000) = ₹ 1000
16. A milkman bought 15 kg of milk and mixed 3 kg of water in it. If the price per kg of the mixture becomes ₹ 22, what is cost price of the milk per kg?
(a) ₹ 28.00
(b) ₹ 26.40
(c) ₹ 24.00
(d) ₹ 22.00
(e) None of these
Solution : (b)
Let cost price of milk ₹ x per kg.
Price of 15kg of milk = ₹ 15x.
Now, mix 3kg of water, therefore quantity of mixture
We can also solve the equation by elimination method from options.
\(\displaystyle x\) =10 is the only option which satisfies the condition of the equation \(\displaystyle \left( {x+x-\frac{{x\times x}}{{100}}} \right)=19\)
18. A dealer marked the price of an item 40% above the cost price. Once he gave successive discounts of 20% and 25% to a particular customer. As a result, he incurred a loss of ₹ 448. At what price did he sell the item to the mentioned customer?
(a) ₹ 2416
(b) ₹ 2268
(c) ₹ 2352
(d) ₹ 2152
(e) ₹ 2578
Solution: (c) Let the cost price of the item be 100.
19. Deepak found that he had made a loss of 10% while selling his smartphone. He also found that had he sold it for Rs.50 more, he would have made a profit of 5%. The initial loss was what percentage of the profit earned, had he sold the smartphone for a 5% profit ?
21. An article is marked at ₹18,000. A trader bought it at successive discounts of 25% and 10% respectively. He spent ₹1,350 on its transportation to his shop and then sold the article for ₹15,000. What is trader’s profit% in the whole transaction?
(a) \(\displaystyle 16\frac{2}{3}\%\)
(b) 28%
(c) 30%
(d) \(\displaystyle 11\frac{1}{9}\%\)
(e) 20%
Solution: (d)
He bought the article for
\(\displaystyle \left[ {\left( {\frac{{100-25}}{{100}}} \right)} \right]\left[ {\left( {\frac{{100-10}}{{100}}} \right)} \right]\times 18000=12150\)
Spent 1350 on repairs,
Total CP = 1350 + 12150 = 13,500
SP = 15,000
So profit% = \(\displaystyle \frac{{1500}}{{13500}}\times 100=11\frac{1}{9}\%\)
22. Shopkeeper purchased some goods for ₹900 and sold one third of the goods at a loss of what 12%, then at gain % should the remainder goods he sold to gain 18% profit on the whole transaction?
23. A milkman bought 70 litres of milk for 630 and added 5 litres of water. If he sells it at 9.00 per litre, his profit percentage isof 7%. The cost price of that article is
(a) \(\displaystyle 8\frac{1}{5}\%\)
(b) 7%
(c) \(\displaystyle 8\frac{1}{5}\%\)
(d) \(\displaystyle 7\frac{1}{7}\%\)
(e) \(\displaystyle 6\frac{2}{9}\%\)
Solution: (d)
CP of 75 litres of mixture of milk and water =₹ 630
SP of 75 litres of mixture of milk and water = 9 × 75 = ₹675
Gain = 675 – 630 =₹ 45
Gain percent = \(\displaystyle \frac{{45}}{{630}}\times 100\)
= \(\displaystyle \frac{{50}}{7}=7\frac{1}{7}\%\)
24. In terms of percentage profit, which is the best transaction? C.P. (in ₹ ) Profit (In ₹ )
(I) CP=36 Profit=17
(II) CP=50 Profit=24
(III) CP=40 Profit=19
(IV) CP=60 Profit=29
(V) CP=70 Profit=20
(a) I
(b) II
(c) III
(d) IV
(e) V
Solution: (d)
Case I : Percentage Profit
\(\displaystyle \frac{{17\times 100}}{{36}}=47\%\)
Case II : Percentage Profit
\(\displaystyle \frac{{24\times 100}}{{50}}=48\%\)
Case III : Percentage Profit
\(\displaystyle \frac{{19\times 100}}{{40}}=47.5\%\)
Case IV : Percentage Profit
\(\displaystyle \frac{{29\times 100}}{{60}}=48.3\%\)
Case V : Percentage Profit
\(\displaystyle \frac{{20\times 100}}{{70}}=28.6\%\)
Alternate method
In such type of pattern based question adopt option approach,
1st – Check largest value of cost price
2nd – Check smallest value of cost price
mark the answer which is greatest
\(\displaystyle \begin{array}{l}1st=\frac{{29}}{{60}}\times 100=48.33\\2nd=\frac{{17}}{{36}}\times 100=47.22(wrong)\end{array}\)
25. If the cost price is 95% of the selling price, what is the profit percent ?
(a) 4%
(b) 4.75%
(c) 5%
(d) 5.26%
(e) 6%
Solution: (d)
If the cost price be ₹ x, then
S.P. = \(\displaystyle \frac{{100}}{{95}}X=\frac{{20}}{{19}}X\)
Gain = \(\displaystyle \frac{{20X}}{{19}}-X=\frac{X}{{19}}\)
Gain percent = \(\displaystyle \frac{{\frac{X}{{19}}}}{X}\times 100=5.26\%\)
Aliter :
Here C.P. = \(\displaystyle \frac{{95}}{{100}}SP\)
C.P. = \(\displaystyle SP(\frac{{100}}{{100+profit\%}})\)
9500 + 95 profit% = 10000
Profit % = \(\displaystyle \frac{{500}}{{95}}\)
Profit % = 5.26%
26. Krishnan bought a camera and paid 20% less than its original price. He sold it at 40% profit on the price he had paid. The percentage of profit earned by Krishnan on the original price was
(a) 22%
(b) 32%
(c) 12%
(d) 15%
(e) 25%
Solution: (c)
Let the original price be ₹ x.
= \(\displaystyle \frac{{80}}{{100}}\times x=\frac{{4x}}{5}\)
SP = \(\displaystyle \frac{{4x}}{5}\times \frac{{140}}{{100}}=\frac{{28x}}{{25}}\)
Gain on original price
= \(\displaystyle \frac{{28x}}{{25}}-x=\frac{{3x}}{{25}}\)
Gain % = \(\displaystyle \frac{{3x}}{{25x}}\times 100=12\%\)
27. By what percent must the cost price be raised in fixing the sale price in order that there may be a profit of 20% after allowing a commission of 10% ?
So the 33.33% must be added to the cost so that profit of 20% is made after giving 10% discount
Shortcut %raise= \(\displaystyle \frac{{30}}{{90}}\times 100\) =33.33% or \(\displaystyle 33\frac{1}{3}\%\)
28. A man purchased a bed sheet for ₹ 450 and sold it at a gain of 10% calculated on the selling price. The selling price of the bed sheet was
(a) ₹ 460
(b) ₹ 475
(c) ₹ 480
(d) ₹ 500
(e) ₹550
Solution: (d)
Let the S.P. of the bedsheet be Rs. x.
\(\displaystyle \Rightarrow \)\(\displaystyle 450+\frac{{10\times X}}{{100}}=X\)
\(\displaystyle \Rightarrow \)\(\displaystyle X-\frac{X}{{10}}=450\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{{9X}}{{10}}=450\)
\(\displaystyle \Rightarrow \) x = \(\displaystyle \frac{{450\times 10}}{9}=500\)
Alternate method :
C.P. = Rs. 450,
Profit = \(\displaystyle \frac{{10SP}}{{100}}=\frac{{SP}}{{10}}\)
Profit = S.P. – C.P.
\(\displaystyle \frac{{SP}}{{10}}=SP-450\)
\(\displaystyle 450=SP-\frac{{SP}}{{10}}\)
S.P. = \(\displaystyle \frac{{450\times 10}}{9}=500\)
29. A retailer buys a radio for ₹225. His overhead expenses are ₹15. He sells the radio for ₹300. The profit per cent of the retailer is :
(a) 25%
(b) \(\displaystyle 26\frac{2}{3}\%\)
(c) 20%
(d) \(\displaystyle 33\frac{1}{3}\%\)
(e) 30%
Solution: (a)
Actual C.P. = 225 + 15 = ₹240
Gain = 300 – 240 = ₹60
Gain percent = \(\displaystyle \frac{{60}}{{240}}\times 100=25\%\)
30. If books bought at prices from ₹150 to ₹300 are sold at prices ranging from ₹250 to ₹350, what is the greatest possible profit that might be made in selling 15 books?
(a) Cannot be determined
(b) ₹750
(c) ₹ 4,250
(d) ₹3,000
(e) ₹3,500
Solution: (d)
Minimum cost price = 150 × 15 = ₹2250
Maximum selling price = 350 × 15 = ₹5250
Gain = 5250 – 2250 = ₹3000
[150 being the lowest & 350 being the highest price]
mcq on profit and loss questions and answers for ibps
31. There is a profit of 20% on the cost price of an article. The % of profit, when calculated on selling price is
(a) \(\displaystyle 16\frac{2}{3}\%\)
(b) 20%
(c) \(\displaystyle 33\frac{1}{3}\%\)
(d) 25%
(e) None of these
Solution: (a)
C.P. of article =₹ x
Gain = \(\displaystyle \frac{{6X}}{5}-x=\frac{{6x-5x}}{5}\)
= \(\displaystyle \frac{x}{5}\)
Gain percent = \(\displaystyle \frac{{gain}}{{sp}}\times 100\)
= \(\displaystyle \frac{{\frac{x}{5}}}{{\frac{{6x}}{5}}}\times 100\)
= \(\displaystyle \frac{{50}}{3}=16\frac{2}{3}\%\)
32. Pooja wants to sell a watch at a profit of 20%. She bought it at 10% less and sold it at ₹30 less, but still she gained 20%. The cost price of watch is
(a) ₹240
(b) ₹220
(c) ₹250
(d) ₹225
(e) ₹275
Solution: (c)
C.P. of watch = Rs. x (let)
S.P. = \(\displaystyle \frac{{120x}}{{100}}=Rs.\frac{{6x}}{5}\)
Case II,
C.P. = \(\displaystyle Rs.\frac{{9x}}{{10}}\)
S.P. = Rs. \(\displaystyle (\frac{{6X}}{5}-30)\)
According to the question,
\(\displaystyle \frac{{6X}}{5}-30=\frac{{9X}}{{10}}\times \frac{{120}}{{100}}=\frac{{27X}}{{25}}\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{{6X}}{5}-\frac{{27X}}{{25}}=30\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{{30X-27X}}{{25}}=30\)
\(\displaystyle \Rightarrow \)\(\displaystyle 3x=30\times 25\)
\(\displaystyle \Rightarrow \)\(\displaystyle X=\frac{{30\times 25}}{3}=RS.250\)
33. There is 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
(e) Rs. 280
Solution: (a)
C.P. of article = Rs. x (let).
According to the question
\(\displaystyle \frac{{x\times 90}}{{100}}=270\)
x = \(\displaystyle \frac{{270\times 100}}{{90}}=Rs.300\)
34. 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
(e) Rs. 580
Solution: (b)
C.P of article = \(\displaystyle \frac{{100}}{{100-20}}\times 450\)
= \(\displaystyle \frac{{100\times 450}}{{80}}=Rs.562.5\)
Therefore, to gain 20%
S.P. = \(\displaystyle \frac{{562.5\times 120}}{{100}}=Rs.675\)
35. The C.P of 10 articles is equal to the S.P. of 15 articles. What is the profit or loss percentage?
(a) 25.5%
(b) 35%
(c) 10%
(d) 33.3%
(e) 36.2%
Solution: (d)
Let C.P. of each article be Re.1.
C.P. of 15 articles = Rs. 15
Their S.P. = Rs. 10
Therefore, Loss percent = \(\displaystyle \frac{{15-10}}{{15}}\times 100\)
= \(\displaystyle \frac{{100}}{3}=33.3\%\)
36. By selling a bag at Rs. 230, profit of 15% is made. The selling price of the bag, when it is sold at 20% profit would be
(a) Rs. 250
(b) Rs. 205
(c) Rs. 240
(d) Rs. 200
(e) Rs. 280
Solution: (c)
Let the C.P. of bag be Rs. x.
According to the question,
\(\displaystyle x\times \frac{{115}}{{100}}=230\)
x = \(\displaystyle \frac{{230\times 100}}{{115}}=200\)
For profit of 20%,
S.P. of bag = Rs. \(\displaystyle \frac{{200\times 120}}{{100}}=240\)
37. A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be
(a) 40%
(b) 100%
(c) 120%
(d) 140%
(e) 150%
Solution: (d)
Let the cost price of article be Rs. 100.
\(\displaystyle \Rightarrow \)First S.P. = Rs. 120
When the selling price be Rs.240,
Profit = Rs. (240 – 100) = Rs. 140
\(\displaystyle \Rightarrow \) Profit percent = \(\displaystyle \frac{{140}}{{100}}\times 100=140\%\)
38. The cost price of 25 books is equal to the selling price of 20 books. The profit percent is
(a) 20%
(b) 22%
(c) 24%
(d) 25%
(e) 28%
Solution: (d)
Let the cost price of each book be Re. 1.
Therefore, C.P. of 20 books = Rs. 20
S.P. of 20 books = Rs. 25
Profit percent = \(\displaystyle \frac{{25-20}}{{20}}\times 100\)
= \(\displaystyle \frac{{5\times 100}}{{20}}=25\%\)
39. By selling a tape-recorder for Rs. 1040 a man gains 4%. If he sells it for Rs. 950, his loss will be
(a) 5%
(b) 4%
(c) 4.5%
(d) 9%
(e) 8%
Solution: (a)
C.P. of taperecorder = Rs. \(\displaystyle \frac{{100}}{{104}}\times 1040\)
= Rs. 1000
On selling for Rs. 950,
Loss = Rs. (1000 – 950)
= Rs. 50
Therefore, Loss percent = \(\displaystyle \frac{{50\times 100}}{{1000}}=5\%\)
40. By what fraction selling price (S.P.) must be multiplied to get the cost price (C.P.) if the loss is 20%?
(a) \(\displaystyle \frac{4}{5}\)
(b) \(\displaystyle \frac{8}{5}\)
(c) \(\displaystyle \frac{5}{4}\)
(d) \(\displaystyle \frac{6}{5}\)
(e) \(\displaystyle \frac{3}{5}\)
Solution: (c)
According to the question,
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{{80}}{{100}}ofC.P.=S.P.\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{4}{5}ofC.P.=S.P.\)
\(\displaystyle \Rightarrow \)\(\displaystyle C.P.=S.P.\times \frac{5}{4}\)
mcq on profit and loss questions and answers for rbi
41. To make a profit of 20% the selling price of the goods is Rs. 240. The cost price of the goods is:
(a) Rs. 200
(b) Rs. 210
(c) Rs. 220
(d) Rs. 230
(e) Rs. 250
Solution: (a)
According to the question,
C.P. of article = \(\displaystyle (\frac{{100}}{{100+profit\%}})\times S.P.\)
= Rs. \(\displaystyle (\frac{{100}}{{120}}\times 240)\)
= Rs. 200
42. The per cent profit made when an article is sold for Rs. 78 is twice as much as when it is sold for Rs. 69. The cost price of the article is
(a) Rs. 60
(b) Rs. 51
(c) Rs. 55.50
(d) Rs. 70
(e) Rs. 50
Solution: (a)
Let the C.P. of article be Rs. x.
According to the question,
78 – x = 2 (69– x)
78 – x = 138 – 2x
2x – x = 138 – 78
x = Rs. 60
42. A man sold an item for ₹7,500 and incurred a loss of 25%. At what price should he have sold the item to have gained a profit of 25%?
(a) ₹13,800
(b) ₹12,500
(c) ₹11,200
(d) Cannot be determined
(e) None of these
Solution: (b)
Let Cost Price of article be x
S.P = \(\displaystyle x-\frac{{25}}{{100}}x=7500\)
\(\displaystyle \frac{{75}}{{100}}x=7500\)
x= \(\displaystyle \frac{{7500\times 100}}{{75}}=10000\)
S.P. of article to have gain 25% = \(\displaystyle 1000+\frac{{20}}{{100}}\times 10000\)
= ₹ 12500
43. Sarita earned a profit of 30 per cent on selling an article for ₹6,110. What was the cost price of the article?
(a) ₹5,725
(b) ₹4,080
(c) ₹5,250
(d) ₹4,400
(e) None of these
Solution: (e)
Let Cost Price of article be x
Selling Price, S.P = \(\displaystyle x+\frac{{30}}{{100}}x=6110\)
\(\displaystyle \frac{{130}}{{100}}x=6110x=\frac{{6110\times 100}}{{130}}=4700\)
Cost Price of article is ₹ 4,700.
44. Sujit incurred a loss of 45 percent on selling an article for ₹3,740. What was the cost price of the article?
(a) ₹5,725
(b) ₹5,080
(c) ₹6,250
(d) ₹6,400
(e) None of these
Solution: (e)
Let Cost Price of article be x
According to question
\(\displaystyle x-\frac{{45}}{{100}}x=3740\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{{55}}{{100}}=3740\)
\(\displaystyle \Rightarrow \) x=6800
45. Mehul sold an item for ₹5,625 and incurred a loss of 25%. At what price should he have sold the item to gain a profit of 25%?
(a) ₹9,375
(b) ₹10,500
(c) ₹8,250
(d) Cannot be determined
(e) None of these
Solution: (a)
Let Cost Price of item be x
Selling Price = \(\displaystyle x-\frac{{25}}{{100}}x=5625\)
\(\displaystyle \frac{{75x}}{{100}}=5625\)
\(\displaystyle x=5625\times \frac{{100}}{{75}}=7500\)
Selling Price after gaining 25%
S.P. = \(\displaystyle 7500+\frac{{25}}{{100}}\times 7500=9375\)
46. Kartik sold an item for ₹ 6,500 and incurred a loss of 20%. At what price should he have sold the item to have gained a profit of 20%?
(a) ₹10,375
(b) ₹ 9,750
(c) ₹ 8,125
(d) Cannot be determined
(e) None of these
Solution: (b)
Let Cost Price item be x
Its Selling Price = \(\displaystyle x-\frac{{20}}{{100}}x=6500\)
\(\displaystyle \frac{{80x}}{{100}}=6500\)
x= \(\displaystyle 6500\times \frac{{100}}{{80}}=8125\)
S.P of item to have gained a Profit of 20%
= \(\displaystyle 8125+\frac{{20}}{{100}}\times 8125=9750\)
47. Manoj incurred a loss of 40 percent on selling an article for ₹ 5,700. What was the cost price of the article?
(a) ₹ 7,725
(b) ₹ 9,080
(c) ₹ 8,250
(d) ₹9,400
(e) None of these
Solution: (e)
Let Cost Price of article be x
\(\displaystyle x-\frac{{40}}{{100}}x=5700\)
\(\displaystyle \frac{{60}}{{100}}x=5700\)
x = \(\displaystyle \frac{{5700\times 100}}{{60}}=9750\)
Cost Price of the article is ₹ 9,500
48. Raj sold an item for ₹ 6,384 and incurred a loss of 30%. At what price should he have sold the item to have gained a profit of 30%?
(a) ₹14,656
(b) ₹11,856
(c) ₹13,544
(d) Cannot be determined
(e) None of these
Solution: (b)
Let cost price of item be x
\(\displaystyle x-\frac{{30}}{{100}}x=6384\)
\(\displaystyle \frac{{70x}}{{100}}=6384\)
\(\displaystyle x=6384\times \frac{{100}}{{70}}=9120\)
SP of item with 30% Profit = 1.3x = 1.3 × 9120= ₹ 11,856
49. A dishonest dealer prefers to sell his goods at cost price but uses less weight for a kg weight and gains \(\displaystyle 4\frac{1}{6}\%\) What does he use for a kg weight?
(a) 950 gm
(b) 980 gm
(c) 960 gm
(d) 840 gm
(e) None of these
Solution: (c)
\(\displaystyle 100\times \frac{{1000}}{x}-100=\frac{{25}}{6}\)
\(\displaystyle \Rightarrow \)x = 960 gm
Alternate method:
Let the error is x gms and profit is= \(\displaystyle 4\frac{1}{6}\%=\frac{{25}}{6}\%\)
So we have ,
\(\displaystyle \begin{array}{l}\frac{{Error}}{{TrueWeight-Error}}\times 100=\%of\Pr ofit\\\frac{x}{{1000-x}}\times 100=\frac{{25}}{6}\\6\times 100x=25(1000-x)\\600x=25000-25x\\625x=25000\\x=40\end{array}\)
Therefore, error is 40gm. Hence for a kg he uses a weight of 1000−40=960gms
50. 21 articles were bought for ₹ 6531 and sold for ₹ 9954. How much was the approximate profit percentage per article ?
(a) 56%
(b) 43%
(c) 52%
(d) 49%
(e) 61%
Solution: (c)
Cost price per article = 311
Selling price per article= \(\displaystyle \frac{{9954}}{{21}}=474\)
\(\displaystyle \frac{{474-311}}{{311}}\times 100=52\%\)
51. An article was bought for ₹ 5600. Its price was marked up by 12%. Thereafter it was sold at a discount of 5% on the market price. What was the market price of the article?
52. An article was bought for ₹ 5600. Its price was marked up by 12%. Thereafter it was sold at a discount of 5% on the market price. What was the percent profit on the transaction?
53. An article was bought for ₹ 5600. Its price was marked up by 12%. Thereafter it was sold at a discount of 5% on the market price. What was the amount of discount given?
(a) ₹ 319.6
(b) ₹ 303.6
(c) ₹ 306.3
(d) ₹ 313.6
(e) ₹ 316.9
Solution: (d)
Price of article=\(\displaystyle 5600\times \frac{{12}}{{100}}+5600=672+5600=6272\)
Amount of discount = \(\displaystyle 6272\times \frac{5}{{100}}=313.6\)
54. The cost price of an article is ₹ 1700. If it was sold at a price of ₹ 2006, what was the percentage profit on the transaction?
55. Manish brought 25 kg of rice at ₹ 32 per kg and 15 kg of rice at ₹ 36 per kg. what profit did he get when he mixed the two varieties together and sold it at ₹ 40.20 per kg?
(a) 25%
(b) 40%
(c) 30%
(d) 20%
(e) None of these
Solution: (d)
C.P. of 40 kg of mixture
= ₹ \(\displaystyle \left[ {(25\times 32)+(15\times 36)} \right]\)
= ₹ \(\displaystyle (800+540)\)
= ₹ 1340
S.P.of 40 kg of mixture = ₹ \(\displaystyle (4\times 40.2)\)
Profit= ₹ \(\displaystyle (1608-1340)\)= ₹ 268
Profit % = \(\displaystyle \frac{{268}}{{1340}}\times 100=268\)
\(\displaystyle \frac{{268}}{{130}}\times 100=20\%\)
56. A grocer purchased 80 kg of sugar at ₹ 13.50 per kg and mixed it with 120 kg sugar at ₹16 per kg. At what rate should he sell the mixture to gain 16% ?
(a) ₹ 17 per kg
(b) ₹ 17.40 per kg
(c) ₹ 16.5 per kg
(d) ₹ 16 per kg
(e) None of these
Solution: (b)
C.P. of 200 kg of mixture = ₹ \(\displaystyle (80\times 13.50+120\times 16)\)= ₹3000.
S.P. = 116% of ₹ 3000 = \(\displaystyle \frac{{116}}{{100}}\times 3000=3480\)
\(\displaystyle \Rightarrow \)Rate of S.P. of the mixture = ₹ \(\displaystyle \frac{{3480}}{{200}}\)
= ₹ 17.40 per kg.
57. A shopkeeper purchased 200 bulbs for ₹ 10 each. However, 5 bulbs were fused and had to be thrown away. The remaining were sold at ₹ 12 each. What will be the percentage profit ?
(a) 25
(b) 15
(c) 13
(d) 17
(e) None of these
Solution: (d)
Total cost price = \(\displaystyle 200\times 10\) = ₹ 2000
Total selling price = \(\displaystyle 12\times 195\)= ₹ 2340
Therefore, Profit percent = \(\displaystyle \frac{{2340-2000}}{{2000}}\times 100=17\%\)
= ₹ 17.40 per kg.
58. 10% discount and then 20% discount in succession is equivalent to total discount of
(a) 15%
(b) 30%
(c) 24%
(d) 28%
(e) None of these
Solution: (d)
Successive discount can be given by = \(\displaystyle x+y+\frac{{xy}}{{100}}\)
= \(\displaystyle -10-20+\frac{{-10\times -20}}{{100}}=-30+2=28\%\)
Hence, the successive dicount in equal to 28%
Alternate method:
Let the MP was Rs 100
After first discount, price = 100 – 10 = Rs. 90
After second discount, price = 90 – (90 × 20)/100 = 90 – 18 = Rs. 72
Therefore, Total single discount = [(100 – 72)/100] × 100 = 28%
59. Allowing 20% and 15% successive discounts, the selling price of an article becomes ₹3,060; then the marked price will be
(a) ₹4,400
(b) ₹5,000
(c) ₹4,500
(d) ₹4,000
(e) None of these
Solution (c)
S.P. of an article = 20% and 15% successive discount \(\displaystyle \times \)marked price of an article
⇒ then MRP of 100 parts = 45 \(\displaystyle \times \) 100 = Rs. 4500
60. The average weight of 15 oarsmen in a boat is increased by 1.6 kg when one of the crew, who weighs 42 kg is replaced by a new man. Find the weight of the new man (in kg).
(a) 65
(b) 66
(c) 43
(d) 67
(e) None of these
Solution: (b)
Let the average weight of 15 Oarsmen at the start = x kg
Let the new man’s weight = y kg
According to question
15x – 42 = 15 (x + 1.6) – y
15x – 42 = 15x + 24 – y
y = 24 + 42 = 66 kg
61. Prathik sold a music system to Karthik at 20% and Karthik sold it to Swasthik at 40% gain. If Swasthik paid ₹ 10,500 for the music system, what amount did Prathik pay for the same?
63. A shopkeeper labelled the price of his articles so as to earn a profit of 30% on the cost price. He then sold the articles by offering a discount of 10% on the labelled price. What is the actual percent profit earned in the deal?
(a) 18%
(b) 15%
(c) 20%
(d) Can’t be determined
(e) None of these
Solution: (e)
Let the cost price of the articles be ₹100. to earn a profit of 30% he labelled them ₹ 130.
After giving a discount of 10% the selling price of the articles = 0.9 × 130 = 117
So, actual profit percent = \(\displaystyle \frac{{(117-100}}{{100}}\times 100=17\%\)
64. A man buys 4 tables and 5 chairs for ₹ 1000. If he sells the tables at 10% profit and chairs 20% profit, he earns a profit of ₹ 120. What is the cost of one table?
(a) ₹ 200
(b) ₹ 220
(c) ₹ 240
(d) ₹260
(e) None of these
Solution: (a)
Let cost of 1 table be ₹ x and cost of 1 chair be ₹ y.
65. A refrigerator and a camera were sold for ₹12000 each. The refrigerator was sold at a loss of 20% of the cost and the camera at a gain of 20% of the cost. The entire transaction results in which one of the following?
(a) No loss or gain
(b) Loss of ₹ 1000
(c) Gain of ₹ 1000
(d) Loss of ₹ 2000
(e) None of these
Solution: (b)
\(\displaystyle X+Y+\frac{{XY}}{{100}}=+20-20-\frac{{20\times 20}}{{100}}=-4\%\)
Total selling price of a refrigerator and a camera
= 12000 + 12000 = ₹ 24000
Now, loss is 4%
\(\displaystyle CP\times \frac{{96}}{{100}}=24000\)
CP = ₹ 25000
Loss amount = (25000 – 24000) = ₹ 1000
66. If the cost price of 15 articles be equal to the selling price of 20 articles, then find the loss% in the transaction.
67. The marked price of a machine is ₹ 18000. By selling it at a discount of 20%, the loss is 4%. What is the cost price of the machine?
(a) ₹ 10000
(b) ₹ 12000
(c) ₹ 14000
(d) ₹ 15000
(e) None of these
Solution: (d)
Given marked price of machine = ₹ 18000
Therefore, Discount = \(\displaystyle \frac{{20}}{{100}}\times 18000=3600\)
\(\displaystyle \Rightarrow \) SP = 18000 – 3600 = ₹ 14400
If loss of 4%, then
CP = \(\displaystyle \frac{{100\times sp}}{{100-r}}=\frac{{100\times 14400}}{{100-4}}\)
\(\displaystyle \frac{{100\times 14400}}{{96}}=15000\)
68. The profit earned after selling an article for ₹878 is the same as loss incurred after selling the article for ₹636. What is the cost price of the article?
(a) ₹ 797
(b) ₹ 787
(c) ₹ 767
(d) ₹ 757
(e) None of these
Solution: (d)
Let the C.P. of the article be ₹ x.
According to the question,
878 – x = x – 636
\(\displaystyle \Rightarrow \)2x = 878 + 636 = 1514
\(\displaystyle \Rightarrow \)x = \(\displaystyle \frac{{1514}}{2}=757\)
69. If a trader estimates his loss as 10% of the selling price, what is his real loss percent?
(a) \(\displaystyle \frac{{100}}{8}\%\)
(b \(\displaystyle \frac{{100}}{{11}}\%\)
(c) \(\displaystyle \frac{{100}}{{13}}\%\)
(d) \(\displaystyle \frac{{100}}{7}\%\)
(e) None of these
Solution: (b)
\(\displaystyle \frac{{CP-SP}}{{SP}}=\frac{{10}}{{100}}\)
10 CP = 11 SP, now let CP = 1
So CP of 11 items = 11 and SP = 10,
Loss percent = \(\displaystyle (\frac{{10}}{{11}}11\times 100)=\frac{{100}}{{11}}\%\)
70. A person sell two horses for rupees 480 each. On the first horse he gains 25 percent and on the second horse he losses 25 percent. Find the percent gain or loss in the transaction.
(a) loss 6.75%
(b) gain 6.75%
(c) loss 6.25%
(d) gain 6.25%
(e) None of these
Solution: (c)
When same quantity is sell at same price and percent
gain and loss is same then there is always loss occurred.
To calculate the loss percent = \(\displaystyle {{\left( {\frac{{Common.loss/gain}}{{10}}} \right)}^{2}}\)
i.e. \(\displaystyle {{\left( {\frac{{25}}{{10}}} \right)}^{2}}=6.25\%loss\)
71. A trader gives an additional concession of 35% on an article which is already get discounted by 20% on the marked price. If the buyer pays an amount of 1300 for the article, then the marked price is
76. By selling an article, a man makes a profit of 25% of its selling price. His profit per cent is
(a) 20%
(b) 25%
(c) \(\displaystyle 16\frac{2}{3}\%\)
(d) \(\displaystyle 33\frac{1}{3}\%\)
(e) \(\displaystyle 8\frac{1}{3}\%\)
Solution: (d)
If the S.P. of article be x, then its
CP = \(\displaystyle x-\frac{x}{4}=\frac{{3x}}{4}\)
Gain % = \(\displaystyle \frac{{\frac{x}{4}}}{{\frac{{3x}}{4}}}\times 100\)
= \(\displaystyle \frac{{100}}{3}=33\frac{1}{3}\%\)
77. If Vipin started a business with an investment of Rs. 42,000. After 5 months Amit joined him with a capital of Rs. 22,000. At the end of the year the total profit was Rs.16,409. What is Vipin’s share in the profit?
(a) Rs. 16244
(b) Rs. 12568
(c) Rs. 10782
(d) Rs. 5677
(e) None of these
Solution: (b)
Ratio of the equivalent capitals of Vipin and Amit for 1 year = 42000 × 12 : 22000 × 7
= 42 × 12 : 22 × 7 = 252 : 77
Total profit = Rs. 16409
Therfore= Vipins share= \(\displaystyle \frac{{252}}{{252+77}}\times 16409=Rs.12568\)
78. By selling an article for 960 a man incurs a loss of 4%; what was the cost price ?
81. An item when sold for 1,690 earned 30% profit on the cost price. Then the cost price is
(a) 507
(b) 630
(c) 1,300
(d) 130
(e) 150
Solution: (c)
If the C.P. be x, then
\(\displaystyle \frac{{x\times 130}}{{100}}=1690\)
\(\displaystyle \Rightarrow \)x = \(\displaystyle \frac{{1690\times 100}}{{130}}=1300\)
82. A fan is listed at 150 and a discount of 20% is given. Then the selling price is
(a) 180
(b) 150
(c) 110
(d) 120
(e) 160
Solution: (d)
S.P. of the fan = \(\displaystyle \frac{{150\times 80}}{{100}}=₹120\)
83. While selling to the retailer, a company allows 30% discount on the marked price of their products. If the retailer sells those products at marked price, his profit % will be :
(a) 30%
(b) \(\displaystyle 42\frac{1}{7}\%\)
(c) 40%
(d) \(\displaystyle 42\frac{6}{7}\%\)
(e) \(\displaystyle 33\frac{1}{3}\%\)
Solution: (d)
If the marked price of the product be ₹100, then
C.P. = ₹70
S.P. retailer = ₹100
Gain percent = \(\displaystyle \frac{{30}}{{70}}\times 100=\frac{{300}}{7}\)
= \(\displaystyle 42\frac{6}{7}\%\)
84. A merchant purchases a wrist watch for 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) 650
(b) 700
(c) 550
(d) 600
(e) 750
Solution: (d)
If the marked price of watch be x, then
\(\displaystyle x\times \frac{{90}}{{100}}=\frac{{450\times 120}}{{100}}\)
\(\displaystyle \Rightarrow \)x = \(\displaystyle \frac{{450\times 120}}{{100}}=600\)
85. The cost price of a radio is ₹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) ₹ 704.50
(b) ₹ 724.50
(c) ₹ 664.50
(d) ₹684.50
(e) ₹695.50
Solution: (b)
Actual C.P. of radio
\(\displaystyle 600+\frac{{600\times 5}}{{100}}=630\)
Required S.P. = \(\displaystyle \frac{{630\times 115}}{{100}}=724.50\)
86. If a shirt costs 64 after 20% discount is allowed, what was its original price in ?
(a) 76.80
(b) 80
(c) 88
(d) 86.80
(e) 90
Solution: (b)
If the original cost of shirt be x, then
\(\displaystyle x\times \frac{{80}}{{100}}=64\)
\(\displaystyle \Rightarrow \)x = \(\displaystyle \frac{{64\times 100}}{{80}}=80\)
87. The total cost of 8 buckets and 5 mugs is 92 and the total cost of 5 buckets and 8 mugs is 77. Find the cost of 2 mugs and 3 buckets.
88. A shopkeeper gives a discount of 10% in every 4 months at an article. If a man purchases it for Rs. 25515 in the month of December, then what was the initial price of that article in the month of January?
(a) Rs. 35000
(b) Rs. 36000
(c) Rs. 40000
(d) Rs. 45000
(e) None of these
Solution: (a)
Let the cost of article in January was Rs. x
In the month of April the cost of the article = \(\displaystyle \frac{{90x}}{{100}}\)
In the month of August, the cost of that article
\(\displaystyle =\frac{{90x}}{{100}}\times \frac{{90}}{{100}}=Rs.\frac{{81x}}{{100}}\)
In the month of December, the cost of that article
\(\displaystyle =\frac{{81x}}{{100}}\times \frac{{90}}{{100}}=Rs.\frac{{729x}}{{1000}}\)
Given, \(\displaystyle \begin{array}{l}\frac{{729x}}{{1000}}=25515\\x=Rs.35000\end{array}\)
89. A merchant loses 10% by selling an article. If the cost price of the article is 15, then the selling price of the article is
90. A fruit merchant makes a profit of 25% by selling mangoes at a certain price. If he charges Rs. 1 more on each mango, he would gain 50%. At first the price of one mango was
(a) Rs. 5
(b) Rs. 7
(c) Rs. 4
(d) Rs. 6
(e) Rs. 8
Solution: (a)
Original price of 1 mango = Rs. x (let).
C.P. of 1 mango = \(\displaystyle \frac{{100x}}{{125}}\)
= Rs. \(\displaystyle \frac{{4x}}{5}\)
Case II,
According to the question,
\(\displaystyle x+1=\frac{{4x}}{5}\times \frac{{150}}{{100}}\)
\(\displaystyle x+1=\frac{{6x}}{5}=\frac{{6x}}{5}-x=1\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{x}{5}=1\)
\(\displaystyle \Rightarrow \) x = Rs. 5
mcq on profit and loss questions and answers for railway exams
91. If bananas are bought at the rate of 4 for a rupee, how many must be sold for a rupee so as to gain \(\displaystyle 33\frac{1}{3}\%\)
(a) 2.5
(b) 2
(c) 3
(d) 4
(e) 5
Solution: (a)
S.P. of 4 bananas
\(\displaystyle =\left( {100+\frac{{100}}{3}} \right)\%ofRs.1\)
= \(\displaystyle Rs.\frac{{400}}{{300}}=Rs.\frac{4}{3}\)
\(\displaystyle \Rightarrow \)Number of bananas sold for \(\displaystyle Rs.\frac{4}{3}=4\)
\(\displaystyle \Rightarrow \)Number of bananas sold for Re. 1 = \(\displaystyle \frac{4}{4}\times 3=3\)
92. If the profit on selling an article for Rs. 425 is the same as the loss on selling it for Rs. 355, then the cost price of the article is
(a) Rs. 410
(b) Rs. 380
(c) Rs. 400
(d) Rs. 390
(e) Rs. 420
Solution: (d)
Let the C.P. of article be Rs. x.
According to the question,
425 – x = x – 355
\(\displaystyle \Rightarrow \)2x = 425 + 355 = 780
\(\displaystyle \Rightarrow \)\(\displaystyle x=\frac{{780}}{2}=Rs.390\)
93. The selling price of 6 bananas is equal to the cost price of 8 bananas. Then the percentage of profit is:
(a) 20
(b) \(\displaystyle 33\frac{1}{3}\)
(c) \(\displaystyle 25\frac{1}{3}\)
(d) \(\displaystyle 30\frac{1}{3}\)
(e) 35
Solution: (b)
Let the C.P. of each banana be Rs. 1.
Therefore, C.P. of 6 bananas = Rs. 6
Their S.P = Rs. 8
Profit percent = \(\displaystyle \frac{{8-6}}{6}\times 100\)
= \(\displaystyle \frac{{200}}{6}=\frac{{100}}{3}=33\frac{1}{3}\%\)
94. A trader sold a cycle at a loss of 10%. If the selling price had been increased by Rs. 200, there would have been a gain of 6%. The cost price of the cycle is
(a) Rs. 1200
(b) Rs. 1205
(c) Rs. 1250
(d) Rs. 1275
(e) Rs. 1290
Solution: (c)
Let the C.P. of cycle be Rs. x.
Case I,
S.P. of cycle = Rs. \(\displaystyle \frac{{90x}}{{100}}\)
= Rs. \(\displaystyle \frac{{9x}}{{10}}\)
Case II,
106% of x = \(\displaystyle \frac{{9x}}{{10}}+200\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{{106x}}{{100}}-\frac{{9x}}{{10}}=200\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{{106x-90x}}{{100}}=200\)
\(\displaystyle \Rightarrow \)\(\displaystyle \frac{{16x}}{{100}}=230\)
\(\displaystyle \Rightarrow \)\(\displaystyle x=\frac{{200\times 100}}{{16}}\)
= Rs. 1250
95. If the selling price of 40 articles is equal to the cost price of 50 articles, the loss or gain percent is
(a) 25% gain
(b) 20% gain
(c) 25% loss
(d) 20% loss
(e) 30% gain
Solution: (a)
Let C.P. of each article be Rs. 1.
Therefore, C.P. of 40 articles = Rs. 40
S.P. of 40 articles = Rs. 50
Therefore, Profit percent = \(\displaystyle (\frac{{50-40}}{{10}}\times 100)\%=25\%\)
96. If the cost price of 20 books is the same as selling price of 25 books, then the loss percentage is
(a) 20
(b) 25
(c) 22
(d) 24
(e) 28
Solution: (a)
Let the C.P. of each book be Rs. 1.
Therefore, Total C.P. of 25 books= Rs. 25
Their S.P. = Rs. 20
Therefore, Loss percent = \(\displaystyle \frac{{25-20}}{{20}}\times 100\)
= \(\displaystyle \frac{5}{{25}}\times 100=20\%\)
97. To make a profit of 20% the selling price of the goods is Rs. 240. The cost price of the goods is :
(a) Rs. 200
(b) Rs. 210
(c) Rs. 220
(d) Rs. 230
(e) Rs. 250
Solution: (a)
C.P. of an article,
\(\displaystyle \begin{array}{l}=\left[ {\frac{{100}}{{100+profit\%}}} \right]\times SP\\=\left[ {\frac{{100}}{{100+20}}} \right]\times 240=200\end{array}\)
98. Anil makes a profit of 18% on cost price by selling a washing machine for Rs. 5900. If the cost price of the machine is increased by 5% and he wants to earn the same profit, What will be the new profit percent on selling price?
100. After getting two successive discounts Shalini got a shirt at Rs. 136 whose marked price is Rs. 200. If the second discount is 15% find the first discount.
(a) 12.5%
(b) 15%
(c) 25%
(d) 20%
(e) None of these
Solution: (d)
Let the first discount be x%.
Then, \(\displaystyle \begin{array}{l}85\%of(100-x)\%of200=136\\\frac{{85}}{{100}}\times \frac{{(100-x)}}{{100}}\times 200=136\\8500-85x=136\times 50=6800\\85x=1700\\\Rightarrow x=20\%\end{array}\)
Profit and Loss Questions for Competitive Exams
Understanding Profit and Loss is essential for anyone preparing for competitive exams, as it is one of the most frequently asked topics in the Quantitative Aptitude section. Whether you are preparing for banking exams, SSC exams, or Railway exams, Multiple Choice Questions (MCQ) related to profit and loss are bound to appear. Rankers Hub MCQ on Profit and Loss page will guide you through the various types of practice questions on Profit and Loss that will significantly enhance your chances of scoring high in your exams.
Rankers Hub has a large collection of Profit and Loss MCQs that cater to the needs of every competitive exam aspirant. These MCQs are designed to not only test your skills but also improve your accuracy, both of which are crucial for excelling in competitive exams.
Why Profit and Loss Practice is Important for Competitive Exams?
Profit and Loss is a fundamental concept in arithmetic and a important topic for many competitive exams. Understanding how to calculate profit, loss, and discounts can play a vital role in your exam performance. Questions on profit and loss involve simple arithmetic operations but require a solid understanding of the formulas and short cut tricks to solve them efficiently within time.
Common Profit and Loss objective questions
The Profit and Loss MCQs that are typically asked in competitive exams includes the following types of problems:
Profit Calculation: Involves calculating profit based on the cost price (C.P) and selling price (S.P).
Loss Calculation: Determines the loss incurred in a transaction.
Discounts: Questions involving discounts on marked price (M.P) are also commonly asked.
Cost Price and Selling Price Relation: Questions where you are asked to find either cost price or selling price when given the other values and profit or loss percentage.
Successive Discounts: Calculating the final price after applying two or more discounts successively.
Profit and Loss Based on Articles: You may be asked to calculate profit or loss when buying and selling multiple articles at different prices.
By solving MCQ on Profit and Loss, aspirants can familiarize themselves with the different types of problems and solve them quickly and accurately.
Competitive Exams in Which Profit and Loss Questions are Asked
1. Profit and loss questions for Bank Exams
In banking exams like IBPS PO, IBPS Clerk, IBPS RRB, SBI PO, SBI Clerk, RBI Assistant, and RBI Grade B, the Quantitative Aptitude section features objective questions on Profit and Loss regularly. These exams often include questions that test your ability to solve problems involving profit percentages, loss calculations, and discounts. Regular practice with MCQ on Profit and Loss with answers that are provided y Rankers Hub ensures that you can handle these questions confidently and quickly.
Key Bank Exams to practice Profit and loss MCQ:
IBPS PO (Probationary Officer)
IBPS Clerk
IBPS RRB (Regional Rural Bank)
IBPS SO (Specialist Officer)
SBI PO (State Bank of India Probationary Officer)
SBI Clerk
RBI Grade B Officer
RBI Assistant
2. Profit and Loss MCQ for SSC Exams
For exams like SSC CGL (Combined Graduate Level), SSC CHSL (Combined Higher Secondary Level), and SSC MTS (Multitasking Staff), questions related to Profit and Loss are commonly included in the Quantitative Aptitude section. These exams feature a mix of percentage-based profit and loss questions, which candidates must solve within a limited time. Practice MCQ on Profit and Loss for SSC exams will help aspirants improve both speed and accuracy.
Key SSC Exams to practice Profit and Loss questions:
SSC CGL
SSC CHSL
SSC MTS
SSC GD
SSC Stenographer
SSC CPO
SSC JE (Junior Engineer)
3. Railway Exams Profit and Loss Questions
In Railway exams, including RRB NTPC, RRB Group D, and RRB ALP (Assistant Loco Pilot), Profit and Loss questions are an essential part of the Mathematical Ability section. Given that these exams often contain a General Intelligence and Reasoning component, the Profit and Loss MCQs help candidates gauge their analytical skills and speed in solving arithmetic problems.
Profit and loss practice for Railway Exams such as:
RRB NTPC
RRB Group D
RRB ALP
4. MCQ on Profit and Loss for Insurance Exams
In Insurance exams, like the LIC AAO (Assistant Administrative Officer), IRDA, and NIACL AO (Administrative Officer), Profit and Loss MCQs are essential for the Quantitative Aptitude section. Candidates are expected to solve percentage-based problems, including profit, loss, and discount calculations, to demonstrate their proficiency in basic financial concepts.
Important Insurance Exams for Profit and Loss practice:
LIC
NIACL
United India Insurance (UIIC)
GIC
IRDA
5. Profit and Loss Objective Questions for State Government Exams
State government exams, such as State PSC (Public Service Commission) exams, often include questions on Profit and Loss in their Quantitative Aptitude section. Candidates preparing for state-level competitive exams can benefit by practicing MCQ on Profit and Loss to build their problem-solving and time management skills.
Some Key Exams useful for Profit and Loss Practice:
State PSC Exams
State Police Constable Exams
6. MCQ for Defence Exams on Profit and Loss
In the Defence exams like CDS, AFCAT, NDA, CAPF, Indian Army, NDA (National Defence Academy), Agneepath exam, and Air Force X and Y Group, Profit and Loss MCQs appear in the Mathematical Ability section. These exams often feature numerical reasoning problems that assess candidates’ arithmetic skills, and Profit and Loss is one of the core topics tested.
Key Defence Exams to learn Profit and Loss MCQ:
CDS
NDA
AFCAT
CAPF
Indian Army Recruitment
Navy
Air Force X & Y Group
Agneepath
Profit and Loss is a vital concept that plays a significant role in numerous competitive exams, and practicing MCQ on Profit and Loss is crucial for success. Whether you are preparing for Bank exams, SSC exams, Railway exams, Defence exams, Management entrance exam, or any other competitive test, upgrading your skills by solving profit and loss objective questions with Rankers Hub will not only enhance your ability to perform well but also improve your speed, accuracy, and problem-solving approach.
Download the Rankers Hub App from the Google Play Store and start your preparation. Rankers Hub is the best site for MCQs, mock tests, and video courses. The salient features of the courses are we cover all important questions as per the latest pattern, eBooks, previous year’s papers, and we also provide free mock tests to kick start your preparation.
