###### Formulae

1. Gain = (S.P.) - (C.P.)

2. Loss = (C.P.) - (S.P.)

3. Loss or gain is always reckoned on C.P.

4. Gain Percentage = Gain x 100/C.P

5. Loss Percentage = Loss x 100/C.P

6. Selling Price = (100 + Gain %)x C.P/100

7. Selling Price = (100 - Loss %)x C.P/100

8. Cost Price = 100x S.P/(100 + Gain %)

9. Cost Price = 100x S.P/(100 - Loss %)

###### Exercise : Profit and Loss MCQ Questions and Answers

**1. **
A watch costing Rs. 120 was sold at a loss of 15%. At what price was it sold?

A. |

B. |

C. |

D. |

**Correct Answer : D. Rs. 102 **

**Description :**

No answer description available for this question. Let us discuss.

**2. **
The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, find out the value of x

A. |

B. |

C. |

D. |

**Correct Answer : B. 16 **

**Description :**

Let the Cost Price of one article = Rs. 1

CP of x articles = Rs. x

CP of 20 articles = 20

Selling price of x articles = 20

Profit = 25% [Given]

⇒((SP−CP)/CP) = 25/100 = 1/4

⇒(20−x)/x=1/4

⇒80−4x=x

⇒5x=80

⇒x=80/5

=16

**3. **
A milkman sells such milk which contains 5% water. What amount of pure milk should be added to 5 litres milk so that the percentage of water be reduced to 2% ?

A. |

B. |

C. |

D. |

**Correct Answer : B. 7.5 litres **

**Description :**

No answer description available for this question. Let us discuss.

**4. **
A person sold 3/5 of a consignment at a profit of 35% and the rest at a loss of 25%. If there was an overall profit of 715, what is the actual cost of the consignment?

A. |

B. |

C. |

D. |

**Correct Answer : D. 6500 **

**Description :**

Let the total CP = 'x'

Then first SP = 3x/5 × 135/100 = 81x/100

And the second SP = 2x/5 × 75/100 = 30x/100

:. Total SP = 81x/100 + 3x/100 = 111x/100.

SP – CP = profit, So, 111x/100 – x = 715

i.e 11x = 71500 and so, x = 71500/11 = 6500

**5. **
A fruit seller sells mangoes at the rate of Rs.9 per kg and thereby loses 20%. At what price per kg, he should have sold them to make a profit of 5%

A. |

B. |

C. |

D. |

**Correct Answer : C. Rs. 11.81 **

**Description :**

85 : 9 = 105 : x

x= (9?(105/85))

= Rs 11.81

**6. **
Sonika spent Rs. 45760 on the interior decoration for her home, Rs.27896 on buying Air conditioner and the remaining 28% of the total amount she had as cash with her. What was the total amount?

A. |

B. |

C. |

D. |

**Correct Answer : D. 102300 **

**Description :**

The Total expense = 45760 + 27896 = 73656 = 72% of the Total amount.

:. Total amount = 73656 ? 100/72 = 102300.

**7. **
By selling 36 oranges, a vendor loses the selling price of 4 oranges. His loss per cent is:

A. |

B. |

C. |

D. |

**Correct Answer : C. 10 % **

**Description :**

No answer description available for this question. Let us discuss.

**8. **
A man sold a bag at a loss of 8%. Had he been able to sell it at a gain of 7%, it would have fetched Rs 75 more than it did. What is the cost price ?

A. |

B. |

C. |

D. |

**Correct Answer : B. Rs. 500 **

**Description :**

107% of cost - 92% of cost = 75

or 15% of cost = 75

Therefore, cost = 75 x 100/15 = 500

**9. **
Sadhna bought a watch at 24% discount on the selling price. If the watch cost her Rs 779, what is the original selling price of the watch ?

A. |

B. |

C. |

D. |

**Correct Answer : D. Rs. 1025 **

**Description :**

Let the original selling price = x

Therefore, x x 76/100 = 779

Therefore, x = 77900/76 = 1025

**10. **
A shopkeeper bought an item at 10% discount on its original price. He sold it at 35% increase on the original price. What percentage profit did he get ?

A. |

B. |

C. |

D. |

**Correct Answer : B. 50% **

**Description :**

Let the original price be 100.

After discount it is 100 - 10 = 90

He sells it on 35% profit of original price.

So SP = 135

∴ % profit = 135-90/90 x 100 = 4500/90 = 50%