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 dealer allows his customer a discount of 25% and still gains 25%. If cost price of a radio is Rs. 1,440, its marked price is:
| A. |
| B. |
| C. |
| D. |
Correct Answer : C. Rs. 2400
Description :
No answer description available for this question. Let us discuss.
View Answer
50/50
Workspace
Report
Discuss
Question 2
The price of an article reduces to 576 after two successive discounts. The markup is 80% above the cost price of Rs. 500. What is the new profit percentage if instead of two successive discounts the m
| A. |
| B. |
| C. |
| D. |
Correct Answer : A. 159.2 %
Description :
No answer description available for this question. Let us discuss.
Question 3
If the cost price of 12 tables is equal to the selling price of 16 tables, the loss percent is:
| A. |
| B. |
| C. |
| D. |
Correct Answer : D. 25 %
Description :
No answer description available for this question. Let us discuss.
Question 4
A dishonest dealer professes to sell goods at the cost price but uses a false weight and gains 25%. Find his false weight age?
| A. |
| B. |
| C. |
| D. |
Correct Answer : C. 800 gms
Description :
25 = E/(1000 - E) * 100
1000 - E = 4E
1000 = 5E => E = 200
1000 - 200 = 800
Question 5
The price of a KML Scooter is Rs. 28,000.Abhishek gives a discount of 10% on whole, while Bhanu gives a discount of 12% on the first Rs 20,000 and 8% on the rest Rs. 8000.
| A. |
| B. |
| C. |
| D. |
Correct Answer : A. Rs. 240
Description :
Abhishek Discount = 2800
Bhanu Discount =2400+640=3040
The difference in selling price is same as difference in discount = 3040 - 2800 = Rs.240
Question 6
The C.P. of an article is 40% of the S.P. The per cent that the S.P. is of C.P. is:
| A. |
| B. |
| C. |
| D. |
Correct Answer : C. 250
Description :
No answer description available for this question. Let us discuss.
Question 7
7000 bricks were purchased for Rs.5740. The cost of transportation of these bricks to construction sight was Rs.805. What was the overall cost per thousand bricks?
| A. |
| B. |
| C. |
| D. |
Correct Answer : D. Rs. 935
Description :
The total cost of 7000 bricks including transportation
= Rs.5740 + Rs.805 = Rs.6545
Overall cost per 1000 bricks = 6545/7 = Rs.935.
Question 8
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. |
| B. |
| C. |
| D. |
Correct Answer : D. Rs. 280
Description :
x*(85/100) = (480 - x)119/100
x = 280
Question 9
Bananas are bought at 4 for Rs.5/- and sold at 5 for Rs.4/-. Find the gain or loss percentage?
| A. |
| B. |
| C. |
| D. |
Correct Answer : D. 36 % loss
Description :
4 bananas -----> 5/-
5 bananas ----> 4/-
Note: In every time same in the cost price articles and selling price articles.
5(4 5) ==> 20 25 = Cost price
4(5 4) ==> 20 16 = Selling price
Then, 9/25 ? 100 = 36 % Loss
Question 10
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. |
| B. |
| C. |
| D. |
Correct Answer : B. 70%
Description :
Let C.P. = Rs. 100. Then, profit = Rs. 320, S.P. = Rs. 420
New C.P. = 125% of Rs. 100 = Rs. 125.
New S.P. = Rs. 420
Profit = 420 - 125 = Rs. 295
Required percentage = 295/420 * 100 = 1475/21 = 70%