This section will cover MCQ on Profit and Loss. Aptitude question related to profit and Loss appear frequently in all competitive exams and Entrance Test. Listed below are important formulas and tips for solving these questions.

Cost priceorC.P.- The price at which an article is purchasedSelling priceorS.P.- The price at which an article is sold.

- Gain or profit = S.P. — C.P.
- Loss or gain is always reckoned on Cost price
- Gain % = \( {\frac{Gain * 100}{C.P.}} \)
- Loss % = \( {\frac{Loss * 100}{C.P.}} \)
- S.P. = \( {C.P. ({\frac{100 + Gain Percentage}{100}})} \)
- S.P. = \( {C.P. ({\frac{100 – Loss Percentage}{100}})} \)
- C.P. = \( {S.P. ({\frac{100}{100 + Gain Percentage}})} \)
- C.P. = \( {S.P. ({\frac{100}{100 – Loss Percentage}})} \)
- If an article is sold at a gain of 10 %, then S.P. = 110% of C.P.
- If an article is sold at a loss of 10 %, then S.P. = 90% of C.P.
- If a trader sells two similar items, one at a gain of x% and another at loss of x%, then seller always incur a loss given by Loss % = \( ({\frac{x}{10}})^2 \)

**Q 1 – The cost price of an article is Rs 7840. What should be the selling price of the article so that there is a profit of 7 % ?**

- 8000
- 8300
- 8388.8
- 8500.5

View Answer

Answer is “C”

**Q 2 – Alan purchased a phone for $5400 and a refrigerator for $9600. He sold the phone at 3/4th of its cost price and the refrigerator at 4/3rd of its cost price. What was the profit/loss ?**

- 1580
- 1750
- 1850
- 1870

View Answer

Answer is “C”

**Q 3 – A trader buys some goods for Rs 150. If the overhead expenses be 12% of cost price, then at what price should it be sold to earn 10% profit ?**

- 184.8
- 185.2
- 185.8
- 188.8

View Answer

Answer is “A”

**Q 4 – If the ratio of cost price and selling price of an article is 10:11, the percentage of profit is ?**

- 8 %
- 10 %
- 11 %
- 15 %

View Answer

Answer is “B”

**Q 5 – A Gold bracelet is sold for Rs 14500 at a loss of 20%. What is the cost price of the Gold bracelet ?**

- 15225
- 16220
- 16880
- 18125

View Answer

Answer is “D”

**Q 6 – The price of an article is first increased by 20% and later on the price were decreased by 25% due to reduction in sales. Find the net percentage change in final price of article ?**

- 20 %
- 18 %
- 38 %
- None of the above

View Answer

Answer is “D”

**Q 7 – The price of a cycle is marked at $ 1150. A shopkeeper earns a profit of 155 after allowing a discount of 15% on the marked price. Find the Cost Price of cycle ?**

- $ 900
- $ 1000
- $ 850
- $ 950

View Answer

Answer is “C”

**Q 8 – The profit earned by selling a chair for Rs 752 is 1.2 times the loss incurred when the same chair was sold for Rs 400. What is the Cost price of the chair ?**

- 540
- 592
- 560
- 584

View Answer

Answer is “C”

**Q 9 – Robin made a profit of 8 % by selling a shirt after offering a discount of 12%. If the marked price of the shirt is Rs 1080, find its cost price ?**

- 890
- 780
- 880
- 900

View Answer

Answer is “C”

**Q 10 – Harry sold an article for Rs 6800 and incurred a loss. Had he sold the article for rs 7850, his gain would have been equal to half the amount of loss that he incurred. At what price should he sell the article to have 20% profit ?**

- 7500
- 9000
- 10680
- 9600

View Answer

Answer is “C”

**Q 11 – When an article was sold for rs 696, P% profit was earned. When the same article was sold for Rs 841, profit earned was P+25%. What is the value of P ?**

- 10
- 25
- 15
- 20

View Answer

Answer is “D”

**Q 12 – A dealer marked the price of an article 40% above the cost price. He allowed two successive discounts of 20% and 25% to a particular customer. As a result he incurred a loss of rs 448. At what price did he sell the item to customer ?**

- 2416
- 2352
- 2218
- 2482

View Answer

Answer is “B”

**Q 13 – A man sold two pens Rs 20 each. he sold one at at a loss of 10 % and other at gain of 10 %. What will be his gain or loss percentage ?**

- 1 % gain
- 1 % loss
- 2 % gain
- 2 % loss

View Answer

Answer is “B”

**Q 14 – A book seller gains 4 % more profit if he sells a book at Rs 180 instead of 175. What is the cost price of the book ?**

- Rs 115
- Rs 120
- Rs 125
- Rs 130

View Answer

Answer is “C”

**Q 15 – By selling Goods at Rs 153, a man looses 10 %. For how much should he sell his goods to make a gain of 20 % ?**

- 204
- 123
- 193
- 175

View Answer

Answer is “A”

**Q 16 – A person sold his watch for Rs 75 and got a percentage of profit equal to the cost price. What is the The cost price of the watch ?**

- Rs 60
- Rs 40
- Rs 50
- Rs 70

View Answer

Answer is “C”

**Q 17 – If a commission of 10 % is given on the written price, the gain is 50 %. What shall be the percentage gain, if the commission is increased to 25 % ?**

- 10 %
- 15 %
- 20 %
- 25 %

View Answer

Answer is “D”

**Q 18 – A shopkeeper marks his goods 20 5 above cost price, but allows 10 5 discount for cash. What percentage profit does the shopkeeper makes ?**

- 8 %
- 10 %
- 12 %
- 14 %

View Answer

Answer is “A”

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