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
Question 1
A trader marks his product 40% above its cost. He sells product on credit & allows 10% trade discount.In order to prompt payment,he gives 10% discount on the reduced price. If he earn profit 67 Rs.
| A. |
| B. |
| C. |
| D. |
Correct Answer : B. Rs. 500
Description :
M.P = C.P *1.4
Profit = S.P - C.P
= C.P ( 1.4 ) ( 0.9 ) ( 0.9 ) – C.P = 67
C.P ( 1.134 – 1 ) = 67,
C.P = 500
View Answer
50/50
Workspace
Report
Discuss
Question 2
A man purchased a waten for Rs. 400 and sold it at a gain of 20% of the selling price. The selling price of the watch is:
| A. |
| B. |
| C. |
| D. |
Correct Answer : C. Rs. 500
Description :
No answer description available for this question. Let us discuss.
View Answer
50/50
Workspace
Report
Discuss
Question 3
If the S.P of Rs. 24 results in a 20% discount on the list price, What S.P would result in a 30% discount on the list price?
| A. |
| B. |
| C. |
| D. |
Correct Answer : D. Rs. 21
Description :
Let the list price be Rs. X,
80/100*x = 24,
x = 24*100/80 = 30
Required S.P = 70% of Rs. 30 = 70*30/100 =21
View Answer
50/50
Workspace
Report
Discuss
Question 4
A bicycle marked at Rs. 2,000, is sold with two successive discount of 20% and 10%.An additional discount of 5% is offered for cash payment. The selling price of the bicycle at cash payment is:
| A. |
| B. |
| C. |
| D. |
Correct Answer : B. Rs. 1368
Description :
No answer description available for this question. Let us discuss.
View Answer
50/50
Workspace
Report
Discuss
Question 5
Gopal purchased 35 kg of rice at rate of Rs 9.50 per kg & 30 kg at rate of Rs i.Q.O per kg. He mixed the two. At what price per kg should he sell mixture to make 35 % profit?
| A. |
| B. |
| C. |
| D. |
Correct Answer : D. Rs. 13.50
Description :
No answer description available for this question. Let us discuss.
View Answer
50/50
Workspace
Report
Discuss
Question 6
By selling a book for 270, 20% profit was earned. What is the cost price of the book?
| A. |
| B. |
| C. |
| D. |
Correct Answer : B. 225
Description :
SP = 120% of CP;
:. CP = 270 ? 100/120 = 225
View Answer
50/50
Workspace
Report
Discuss
Question 7
A man sells two tables at the same price. On one he makes a profit of 10% and on the other he suffers a loss of 10%. His loss per cent on the whole transaction is
| A. |
| B. |
| C. |
| D. |
Correct Answer : D. 1 % loss
Description :
No answer description available for this question. Let us discuss.
View Answer
50/50
Workspace
Report
Discuss
Question 8
A stockiest wants to make some profit by selling sugar. He contemplates about various methods. Which of the following would maximize his profit?
| A. |
| B. |
| C. |
| D. |
Correct Answer : D. Use 900 g of weight instead of 1 kg.
Description :
No answer description available for this question. Let us discuss.
View Answer
50/50
Workspace
Report
Discuss
Question 9
A dishonest dealer sells his goods at the cost price, but he uses a weight of 900 gm for 1 kgwt. What is his gain percent?
| A. |
| B. |
| C. |
| D. |
Correct Answer : A. 11 1/9%
Description :
Let the cost price of 1kg good = 100
He sells for 100, what he got for 90, then his gain =100 – 90 = 10
:. His gain per cent = 10/90×100 = 100/9 = 11 1/9%.
View Answer
50/50
Workspace
Report
Discuss
Question 10
A vendor sells his articles at a certain profit percentage. If he sells his article at 1/3 of his actual selling price, then he incurs a loss of 40%. What is his actual profit percentage?
| A. |
| B. |
| C. |
| D. |
Correct Answer : A. 80 %
Description :
No answer description available for this question. Let us discuss.
View Answer
50/50
Workspace
Report
Discuss