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Free Profit and Loss MCQs with Answers

172 Profit and Loss MCQs from Mathematics, each with the correct answer and a written explanation of why it is correct. Free and unlimited, with no account needed.

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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172 questions · page 5 of 9

81. Aleem buys 4 horses and 9 cows for Rs. 13,400. If he sells the horses at 10% profit and the cows at 20% profit, then he earns a total profit of Rs. 1880. The cost of a horse is:_________?

  • A. Rs. 1000
  • B. Rs. 2000
  • C. Rs. 2500
  • D. Rs. 3000

Explanation: Let the total cost of the horses be Rs. x, so the cows cost Rs. 13,400 - x.

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Correct answer: Rs. 2000

82. By selling 12 toffees for a rupee, a man loses 20%. How many for a rupee should be sell to get a gain of 20%?

  • A. 5
  • B. 8
  • C. 10
  • D. 15General Reference

Explanation: Selling 12 toffees for Rs. 1 at a 20% loss means Rs. 1 is 80% of their cost, so cost of 12 toffees = Rs. 1/0.80 = Rs. 1.25.

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Correct answer: 8

83. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?

  • A. 3
  • B. 4
  • C. 5
  • D. 6

Explanation: The cost of one toffee is Rs. 1/6. For a 20% gain, its selling price must be Rs. (1/6) x 1.20 = Rs. 1/5.

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Correct answer: 5

84. On an order of 5 dozen boxes of a consumer product, a retailer receives an extra dozen free. This is equivalent to allowing him a discount of:________?

  • A. 15%
  • B. 16 1/6%
  • C. 16 2/3%
  • D. 20%Fun & Trivia

Explanation: The retailer receives 6 dozen boxes but pays for only 5 dozen, so he pays 5/6 of the normal price.

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Correct answer: 16 2/3%

85. If the selling price of 50 articles is equal to the cost price of 40 articles, then the loss or gain percent is:

  • A. 20% loss
  • B. 20% gain
  • C. 25% loss
  • D. 25% gain

Explanation: If the selling price of 50 articles equals the cost price of 40 articles, then selling price per article is 40/50 = 0.8 of its cost price.

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Correct answer: 20% loss

86. If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is:

  • A. 25%
  • B. 33 1/3 %
  • C. 50%
  • D. 66 2/3 %

Explanation: Let the cost of one pen be Rs. 1, so 12 pens cost Rs. 12. Since this equals the selling price of 8 pens, each pen sells for Rs. 12/8 = Rs.

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Correct answer: 50%

87. 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 25% profit?

  • A. Rs. 2000
  • B. Rs. 2200
  • C. Rs. 2400
  • D. None of these

Explanation: Let the cost price be Rs. x. The profit at Rs. 1,920 equals the loss at Rs. 1,280, so 1,920 - x = x - 1,280, giving 2x = Rs.

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Correct answer: Rs. 2000

88. The profit earned by selling an article for Rs. 832 is equal to the loss incurred when the same article is sold for Rs. 448. What should be the sale price for making 50% profit?

  • A. Rs. 920
  • B. Rs. 960
  • C. Rs. 1060
  • D. Rs. 1200

Explanation: Let the cost price be Rs. x. Equal profit and loss give Rs. 832 - x = x - Rs. 448, so 2x = Rs. 1,280 and the cost price is Rs. 640.

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Correct answer: Rs. 960

89. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?

  • A. 30%
  • B. 70%
  • C. 100%
  • D. 250%

Explanation: Let the cost price be Rs. 100. A profit of 320% is Rs. 320, so the selling price is Rs.

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Correct answer: 70%

90. If selling price is doubled, the profit triples. Find the profit percent:

  • A. 66 2/3
  • B. 100
  • C. 105 1/3
  • D. 120Quiz Mode Feature

Explanation: Let the original selling price be Rs. S and cost price be Rs. C. After doubling the selling price, S's profit becomes 2S - C, and this…

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Correct answer: 100

91. A man gains 20% by selling an article for a certain price. If the sells it at double the price, the percentage of profit will be:________?

  • A. 40
  • B. 100
  • C. 120
  • D. 140

Explanation: A 20% gain means the original selling price is 120% of cost price, or Rs. 1.20C for cost Rs. C. At double that price, selling price is Rs.

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Correct answer: 140

92. The ratio between the sale price and the cost price of an article is 7:5. What is the ratio between the profit and the cost price of that article?

  • A. 2:7
  • B. 5:2
  • C. 7:2
  • D. Data inadequate
  • E. None of these

Explanation: With selling price : cost price = 7:5, the profit is 7 - 5 = 2 parts. Therefore profit : cost price = 2:5, which is not listed, so the…

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Correct answer: None of these

93. The ratio of the cost price and the selling price is 4:5. The profit percent is:__________?

  • A. 10%
  • B. 20%
  • C. 25%
  • D. 30%

Explanation: Let the cost price be 4 parts and the selling price be 5 parts, so the profit is 1 part. Profit percentage = (1/4) x 100 = 25%.

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Correct answer: 25%

94. Jameel brought a scooter for a certain sum of money. He spent 10% of the cost on repairs and sold the scooter for a profit of Rs. 1100. How much did he spend on repairs if he made a profit of 20%?

  • A. Rs. 400
  • B. Rs. 440
  • C. Rs. 500
  • D. Rs. 550

Explanation: Let the purchase cost be C. Including repairs, the total cost is C + 10% of C = 1.10C, and a 20% profit on this total gives 0.20 x 1.10C =…

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Correct answer: Rs. 500

95. The sale price of an article including the sales tax is Rs. 616. The rate of sales tax is 10%. If the shopkeeper has made a profit of 12%, then the cost price of the article is:

  • A. Rs. 500
  • B. Rs. 515
  • C. Rs. 550
  • D. Rs. 600

Explanation: The price before 10% sales tax is Rs. 616 ÷ 1.10 = Rs. 560. This is the selling price, so with a 12% profit the cost price is Rs.

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Correct answer: Rs. 500

96. Samad purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?

  • A. 3.5
  • B. 4.5
  • C. 5.6
  • D. 6.5

Explanation: Twenty dozens contain 20 x 12 = 240 toys, and their cost is 20 x Rs. 375 = Rs. 7500. Total sales are 240 x Rs. 33 = Rs.

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Correct answer: 5.6

97. A shopkeeper purchased 70 kg of potatoes for Rs. 420 and sold the whole lot at the rate of Rs. 6.50 per kg. What will be his gain percent?

  • A. 4 1/6 %
  • B. 6 1/6 %
  • C. 8 1/3 %
  • D. 20 %

Explanation: The selling price is 70 kg x Rs. 6.50 per kg = Rs. 455, while the cost price is Rs. 420. Gain = Rs. 455 - Rs. 420 = Rs.

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Correct answer: 8 1/3 %

98. The successive discounts 20% and 15% are equal to a single discount of__________?

  • A. 35%
  • B. 38%
  • C. 32%
  • D. 29%
  • E. None of these

Explanation: After a 20% discount, 80% of the marked price remains; after a further 15% discount, 85% of that remains.

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Correct answer: 32%

99. Mahad marks an article 15% above the cost price of Rs. 540. What must be his discount percentage if he sells it at Rs. 496.80?

  • A. 18%
  • B. 21%
  • C. 20%
  • D. 19%
  • E. None of these

Explanation: The marked price is Rs. 540 x 1.15 = Rs. 621. The discount is Rs. 621 - Rs. 496.80 = Rs. 124.20, so discount percentage = (Rs.

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Correct answer: 20%

100. An article was sold after a discount of 20% and there was a gain of 20%. If the profit made on it was Rs. 6 less than the discount offered on it, find its selling price?

  • A. Rs. 72
  • B. Rs. 90
  • C. Rs. 66
  • D. Rs. 96
  • E. None of these

Explanation: Let the cost price be C. A 20% gain makes the selling price 1.20C, and a 20% discount means the marked price is 1.20C ÷ 0.80 = 1.50C, so…

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Correct answer: Rs. 72
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