Profit and Loss Questions Answers (MCQ) listings with explanations includes questions on Gain, Gain Percent, Loss, Loss Percent, determining different values etc which are important for many competitive exams.

11) A material is purchased for Rs. 600. If one fourth of the material is sold at a loss of 20% and the remaining at a gain of 10%, Find out the overall gain or loss percent

• 1) \begin{aligned} 4\frac{1}{2} \end{aligned}
• 2) \begin{aligned} 3\frac{1}{2} \end{aligned}
• 3) \begin{aligned} 2\frac{1}{2} \end{aligned}
• 4) \begin{aligned} 1\frac{1}{2} \end{aligned}
Ans.   C
Explanation :
We need to get the Total selling price to solve this question. Because after getting selling price we can get profit or loss, then we can calculate profit% or loss% So lets solve this: Price Received by selling one fourth of the material at a loss of 20% = (1/4) * 600 * (80/100) = Rs. 120 Price Received by remaining material at a gain of 10% = (3/4) * 600 * (110/100) = Rs. 495 [Note: 1-(1/4) = 3/4] Total Selling Price = 120 + 465 = Rs. 615 Profit = 615 - 600 = 15 \begin{aligned} Profit\% = \left( \frac{Gain}{Cost} * 100 \right)\% \\ = \left( \frac{15}{600} * 100 \right)\% \= \frac{5}{2}\% = 2\frac{1}{2}\% \end{aligned}

12) A shopkeeper sold an article for Rs 2564.36. Approximately what was his profit percent if the cost price of the article was Rs 2

• 1) 4%
• 2) 5%
• 3) 6%
• 4) 7%
Ans.   D
Explanation :
Gain % = (164.36*100/2400) = 6.84 % = 7% approx

13) A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain

• 1) 20%
• 2) 21%
• 3) 22%
• 4) 23%
Ans.   B
Explanation :
\begin{aligned} Gain\% = \\ \left( \frac{(100 + \text{common gain}\%)^2}{100} - 100 \right)\% \\ = \left( \frac{(100 + 10)^2}{100} - 100 \right)\% \\ = \left( \frac{12100 - 10000}{100}\right)\% \\ = 21\% \end{aligned}

14) The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs 3. The ratio of two selling prices

• 1) 51:52
• 2) 52:53
• 3) 53:54
• 4) 54:55
Ans.   B
Explanation :
Let the Cost price of article is Rs. x Required ratio = \begin{aligned} \frac{104\% \text{ of } x}{106\% \text{ of } x} \= \frac{104}{106} = \frac{52}{53} = 52:53 \end{aligned}

15) A pair of articles was bought for Rs. 37.40 at a discount of 15%. What must be the marked price of each of the article

• 1) Rs15
• 2) Rs 20
• 3) Rs 22
• 4) Rs 25
Ans.   C
Explanation :
As question states that rate was of pair of articles, So rate of One article = 37.40/2 = Rs. 18.70 Let Marked price = Rs X then 85% of X = 18.70 => X = 1870/85 = 22

16) A shopkeeper fixes the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8%

• 1) 18%
• 2) 20%
• 3) 22%
• 4) 24%
Ans.   B
Explanation :
Let the cost price = Rs 100 then, Marked price = Rs 135 Required gain = 8%, So Selling price = Rs 108 Discount = 135 - 108 = 27 Discount% = (27/135)*100 = 20%

17) 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

• 1) 13
• 2) 14
• 3) 15
• 4) 16
Ans.   D
Explanation :
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] \begin{aligned} \Rightarrow \left (\dfrac{SP - CP }{CP}\right ) = \dfrac{25}{100} = \dfrac{1}{4} & \Rightarrow \dfrac{\left(20-x \right )}{x} = \dfrac{1}{4} \& \Rightarrow 80 - 4x = x \\ & \Rightarrow 5x = 80 \nonumber \\ & \Rightarrow x = \dfrac{80}{5} = 16 \\ \end{aligned}

18) Akhil purchased 70kg vegetable at Rs. 420, then sold them at the rate of Rs. 6.50 per kg, find the profit percen

• 1) \begin{aligned} 8\frac{1}{3}\% \end{aligned}
• 2) \begin{aligned} 7\frac{1}{3}\% \end{aligned}
• 3) \begin{aligned} 6\frac{1}{3}\% \end{aligned}
• 4) \begin{aligned} 5\frac{1}{3}\% \end{aligned}
Ans.   A
Explanation :
Please note in this type of questions, get the value of 1 kg to solve this question, lets solve it. C.P. of 1 Kg = 420/70 = Rs. 6 Selling Price = 6.50 Gain = Rs. 0.50 \begin{aligned} Gain\% = \frac{.50}{6}*100 \\ = 8\frac{1}{3}\% \end{aligned}

19) 100 oranges are bought at the rate of Rs. 350 and sold at the rate of 48 per dozen. The percentage of profit

• 1) \begin{aligned} 12\frac{2}{7} \% \end{aligned}
• 2) \begin{aligned} 13\frac{2}{7} \% \end{aligned}
• 3) \begin{aligned} 14\frac{2}{7} \%\end{aligned}
• 4) \begin{aligned} 15\frac{2}{7} \% \end{aligned}
Ans.   C
Explanation :
So before solving this question we will get the C.P. and S.P. of 1 article to get the gain percent. C.P. of 1 orange = 350/100 = Rs 3.50 S.P. of one orange = 48/12 = Rs 4 [note: divided by 12 as 1 dozen contains 12 items] Gain = 4 - 3.50 = Rs 0.50 \begin{aligned} Gain\% = \frac{0.50}{3.50}*100 \\ = \frac{100}{7}\% = 14\frac{2}{7}\% \end{aligned}

20) A man buys an item at Rs. 1200 and sells it at the loss of 20 percent. Then what is the selling price of that i

• 1) Rs. 660
• 2) Rs. 760
• 3) Rs. 860
• 4) Rs. 960