TestUstad

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.

Last updated

172 questions · page 6 of 9

101. A trader marks his articles 20% more than the cost price. If he allows 20% discount, then find his gain or loss percent?

  • A. No profit No loss
  • B. 4% profit
  • C. 2% loss
  • D. 2% profit
  • E. None of these

Explanation: If the cost price is Rs. 100, the marked price is Rs. 120. A 20% discount gives a selling price of Rs. 120 x 0.80 = Rs.

Read the full explanation →
Correct answer: None of these

102. Mahad sold an article for Rs. 18000. Had he offered a discount of 10% on the selling price, he would have earned a profit of 8%. What is the cost price of the article?

  • A. Rs. 15000
  • B. Rs. 16200
  • C. Rs. 14700
  • D. Rs. 15900
  • E. None of these

Explanation: After a 10% discount on Rs. 18000, the actual selling price is Rs. 18000 x 0.90 = Rs. 16200.

Read the full explanation →
Correct answer: Rs. 15000

103. Rayyan purchased a refrigerator and a mobile phone for Rs. 15000 and Rs. 8000 respectively. He sold the refrigerator at a loss of 4 percent and the mobile phone at a profit of 10 percent. Overall he make a________?

  • A. loss of Rs. 200
  • B. loss of Rs. 100
  • C. profit of Rs. 100
  • D. profit of Rs. 200
  • E. None of these

Explanation: The refrigerator sells for Rs. 15000 x 0.96 = Rs. 14400, and the mobile phone sells for Rs. 8000 x 1.10 = Rs. 8800. Total cost is Rs.

Read the full explanation →
Correct answer: profit of Rs. 200

104. A shopkeeper sells 400 metres of cloth for Rs. 18000 at a loss of Rs.5 per metre. Find his cost price for one metre of cloth?

  • A. Rs. 45
  • B. Rs. 40
  • C. Rs. 35
  • D. Rs. 50
  • E. None of these

Explanation: The selling price per metre is Rs. 18000 ÷ 400 = Rs. 45. Since the loss is Rs. 5 per metre, the cost price per metre is Rs. 45 + Rs.

Read the full explanation →
Correct answer: Rs. 50

105. The value of a machine depreciates at 20% per annum. If its present value is Rs. 1,50,000, at what price should it be sold after two years such that a profit of Rs. 24,000 is made?

  • A. Rs. 1,10,000
  • B. Rs. 1,20,000
  • C. Rs. 1,24,000
  • D. Rs. 1,21,000
  • E. None of these

Explanation: After one year the value is Rs. 150000 x 0.80 = Rs. 120000, and after two years it is Rs. 120000 x 0.80 = Rs. 96000.

Read the full explanation →
Correct answer: Rs. 1,20,000

106. After allowing a discount of 15% on the marked price, the selling price is Rs. 6800 for an article. If it was sold at marked price, there would have been a profit of 60%. The cost price of the article is?

  • A. Rs. 6400
  • B. Rs. 5600
  • C. Rs. 5000
  • D. Rs. 4800
  • E. None of these

Explanation: A 15% discount leaves 85% of the marked price, so the marked price is Rs. 6800 ÷ 0.85 = Rs. 8000.

Read the full explanation →
Correct answer: Rs. 5000

107. A shopkeeper sells 20% of his stock at 10% profit ans sells the remaining at a loss of 5%. He incurred an overall loss of Rs. 400. Find the total worth of the stock?

  • A. Rs. 25000
  • B. Rs. 20000
  • C. Rs. 15000
  • D. Rs. 22000
  • E. None of these

Explanation: On 20% of the stock, the profit is 10% x 20% = 2% of the total cost; on the remaining 80%, the loss is 5% x 80% = 4% of the total cost.

Read the full explanation →
Correct answer: Rs. 20000

108. A fruit vendor purchased 20 dozens of bananas at Rs. 15 per dozen. But one-fourth of the bananas were rotten and had to be thrown away. He sold two-third of the remaining bananas at Rs. 22.50 per dozen. At what price per dozen should he sell the remaining bananas to make neither a profit nor a loss?

  • A. Rs. 20
  • B. Rs. 15
  • C. Rs. 22.50
  • D. Rs. 7.50
  • E. None of these

Explanation: Twenty dozens contain 240 bananas, costing 20 x Rs. 15 = Rs. 300. After one-fourth rots, 180 bananas remain; two-thirds means 120 bananas…

Read the full explanation →
Correct answer: Rs. 15

109. By selling 99 pens, a trader gains the cost of 33 pens. Find his gain percentage?

  • A. 33 1/3%
  • B. 50%
  • C. 25%
  • D. 66 2/3%
  • E. None of these

Explanation: Let the cost of one pen be C, so the cost of 99 pens is Rs. 99C. The gain is the cost of 33 pens, or Rs. 33C, hence gain percentage = (Rs.

Read the full explanation →
Correct answer: 33 1/3%

110. If a trader sold two cars each at Rs. 325475 and gains 12% on the first and loses 12% on the second, then his profit or loss percent on the whole is_______?

  • A. 1.44% loss
  • B. 14.4% profit
  • C. 14.4% loss
  • D. 0%
  • E. None of these

Explanation: Let the selling price of each car be Rs. 325475. The cost prices are Rs. 325475/1.12 = Rs. 290602.68 and Rs. 325475/0.88 = Rs. 369 modules?

Read the full explanation →
Correct answer: 1.44% loss

111. Oranges are bought at 11 for a rupee and an equal number more at 9 a rupee. If these are sold at 10 for a rupee, find the loss or gain percent?

  • A. 1% gain
  • B. 2% gain
  • C. 1% loss
  • D. 2% loss

Explanation: Take equal quantities of oranges, such as 1 orange bought at each rate.

Read the full explanation →
Correct answer: 1% loss

112. If goods be purchased for Rs.840 and one-fourth be sold at a loss of 20% at what gain percent should the remainder be sold so as to gain 20% on the whole transaction?

  • A. 30%
  • B. 33%
  • C. 33 1/3%
  • D. 35%General Reference

Explanation: The total desired selling price is Rs.840 x 120/100 = Rs.1,008. One-fourth costs Rs.210 and is sold for Rs.210 x 80/100 = Rs.168, so the…

Read the full explanation →
Correct answer: 33 1/3%

113. A man buys an article and sells it at a profit of 20%. If he had bought it at 20% less and sold it for Rs.75 less, he could have gained 25%. What is the cost price?

  • A. Rs.370
  • B. Rs.375
  • C. Rs.350
  • D. Rs.300

Explanation: Let the original cost price be Rs.x, so the original selling price is Rs.1.2x.

Read the full explanation →
Correct answer: Rs.375

114. I bought two books; for Rs.480. I sold one at a loss of 15% and other at a gain of 19% and then I found each book was sold at the same price. Find the cost of the book sold at a loss?

  • A. Rs.28
  • B. Rs.280
  • C. Rs.140
  • D. Rs.70

Explanation: Let the cost of the book sold at a loss be Rs.x, so the other book costs Rs.(480 - x).

Read the full explanation →
Correct answer: Rs.280

115. A man sells two articles for Rs.3600 each and he gains 30% on the first and loses 30% on the next. Find his total gain or loss?

  • A. 9% loss
  • B. 400
  • C. 4000
  • D. 324Islamic Studies Quiz

Explanation: For the first article, cost price is Rs.3,600/1.3, and for the second it is Rs.3,600/0.7.

Read the full explanation →
Correct answer: 9% loss

116. A reduction of 20% in the price of salt enables a lady to obtain 10 kgs more for Rs.100, find the original price per kg?

  • A. 2 3/2
  • B. 2 2/3
  • C. 2.5
  • D. 3Islamic Studies Quiz

Explanation: Let the original price be Rs.p per kg, so the reduced price is Rs.0.8p per kg.

Read the full explanation →
Correct answer: 2.5

117. A reduction of 25% in the price of oil enables a house wife to obtain 5kgs more for Rs.800, what is the reduced price for kg?

  • A. Rs.20
  • B. Rs.30
  • C. Rs.40
  • D. Rs.25

Explanation: Let the reduced price be Rs.p per kg, so the original price was Rs.p/0.75 = Rs.4p/3 per kg.

Read the full explanation →
Correct answer: Rs.40

118. A reduction of 40% in the price of bananas would enable a man to obtain 64 more for Rs.40, what is reduced price per dozen?

  • A. Rs.5
  • B. Rs.4
  • C. Rs.2
  • D. Rs.3

Explanation: Let the reduced price be Rs.p per banana, so the original price was Rs.p/0.6.

Read the full explanation →
Correct answer: Rs.3

119. A man purchases 8 pens for Rs.9 and sells 9 pens for Rs.8, how much profit or loss does he make?

  • A. 20.98% profit
  • B. 20.98% loss
  • C. 20.89% profit
  • D. 20.89% loss

Explanation: The cost of one pen is Rs.9/8, because 8 pens cost Rs.9. The selling price of one pen is Rs.8/9, so the loss fraction is 1 - (8/9)/(9/8) =…

Read the full explanation →
Correct answer: 20.98% loss

120. Ramees professes to sell his goods at the cost price but he made use of 900 grms instead of a kg, what is the gain percent?

  • A. 11%
  • B. 11 2/9%
  • C. 11 1/9%
  • D. 10%

Explanation: For every nominal 1 kg sold, the dealer gives 900 grams but charges the cost price of 1,000 grams.

Read the full explanation →
Correct answer: 11 1/9%
Start Free Profit and Loss Practice MCQs Test