Numerical: Profit & Loss MCQ — 15 Practice Questions with Answers

Explanation

For a profit question, selling price = cost price × (100 + profit%)/100. Here the cost price is ₹800 and the profit is 15%. So, selling price = 800 × 115/100 = 8 × 115 = ₹920. The profit amount is also 15% of ₹800 = ₹120, and ₹800 + ₹120 = ₹920. Therefore, the selling price of the bag is ₹920.

Explanation

A 12% loss means the selling price is 88% of the cost price. Therefore, CP = ₹880 × 100 ÷ 88 = ₹1000. To gain 15%, the new selling price must be 115% of the cost price. Required SP = ₹1000 × 115 ÷ 100 = ₹1150. The old selling price is not the base for the new profit; the cost price is the base. Hence, the article should be sold for ₹1150.

Explanation

First find the selling price after discount. Discount = 10% of ₹1200 = ₹120, so selling price = ₹1200 − ₹120 = ₹1080. This selling price includes an 8% profit, so it is 108% of the cost price. Hence cost price = 1080 × 100/108 = ₹1000. Do not subtract 8% directly from ₹1080; profit percentage is calculated on the cost price. Therefore, the cost price is ₹1000.

Explanation

The cost price of the watch is ₹500 and the selling price is ₹575. Profit = selling price − cost price = 575 − 500 = ₹75. Profit percentage = profit/cost price × 100 = 75/500 × 100 = 15%. The percentage must be calculated on the cost price, not on the selling price. Since the selling price is higher than the cost price, this is a profit case. Therefore, the correct statement is that the profit is 15%.

Explanation

Cost price = ₹800. Marked price is 25% above cost price, so marked price = 800 × 125/100 = ₹1000. A 10% discount on ₹1000 is ₹100, so selling price = 1000 − 100 = ₹900. Profit = selling price − cost price = 900 − 800 = ₹100. Profit percentage = profit/cost price × 100 = 100/800 × 100 = 12.5%. Profit percentage is always calculated on cost price, not on marked price. Therefore, the profit percentage is 12.5%.