MCQ
Numerical: Profit & Loss MCQ - Practice Questions with Answers
Solve 31 Numerical: Profit & Loss questions for RAS/RPSC preparation.
Practice questions
Q1A shopkeeper sells an article for ₹880 at a loss of 12%. At what price should he sell the same article to gain 15%?
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.
Q2Assertion: An article sold for ₹900 at a loss of 25% has a cost price of ₹1200. Reason: At a loss of 25%, the selling price is 75% of the cost price. Choose the correct option.
For a 25% loss, selling price = 100% − 25% = 75% of cost price. Here selling price is ₹900. So 75% of cost price = 900. Cost price = 900 × 100/75 = ₹1200. Therefore, the assertion that the cost price is ₹1200 is true. The reason is also true because it states the exact relation used in the calculation. Hence both are true, and the reason correctly explains the assertion.
Q3The profit earned after selling an article for Rs. 680 is the same as the loss incurred after selling the same article for Rs. 426. Find half of 50% of the cost price.
When the profit at Rs. 680 equals the loss at Rs. 426, the cost price lies exactly midway between the two selling prices. So, cost price = (680 + 426) / 2 = Rs. 553. The question asks for half of 50% of the cost price, which is 25% of Rs. 553. That gives 553 / 4 = Rs. 138.25. Rs. 190, Rs. 150 and Rs. 148.25 do not match one-fourth of the computed cost price.
Q4An article is sold at a loss of 12%. If its cost price is ₹1,500, what is its selling price?
For a loss, the selling price is less than the cost price by the loss amount. Here the cost price is ₹1,500 and the loss is 12% of the cost price. Loss amount = (12/100) × 1500 = ₹180. Therefore, selling price = cost price − loss amount = 1500 − 180 = ₹1,320. Since the article is being sold at a loss, no amount should be added. The selling price is ₹1,320.
Q5A trader buys a bag for ₹800 and sells it at a profit of 15%. What is the selling price of the bag?
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.
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More questions
6An article is marked at ₹1250. After a discount of 20%, it is sold at a profit of 25%. Which statement is correct?
7An article is sold for ₹1320 at a loss of 12%. Fill in the blank: the cost price of the article is ______.
8When a commodity is sold for ₹ 69.60, there is a loss of 25%. The cost price of the commodity, in ₹, is:
9A shopkeeper sold an article for ₹ 400 at a loss of 20%. At what price should he sell the article to make a profit of 10%?
10An article is sold for ₹600 at a profit of 20%. At what price should it be sold to make a loss of 10%?
11An article is sold for ₹1,080 at a profit of 20%. Which of the following statements is incorrect?
12A shopkeeper bought 6 articles for ₹ 5 and sold them at 4 articles for ₹ 6. What is his gain percentage?
13The cost price of a pen is ₹250 and its selling price is ₹300. Which of the following statements is correct?
14Match each article with its profit or loss percentage. Article 1: cost price ₹500, selling price ₹575. Article 2: cost price ₹800, selling price ₹680. Article 3: cost price ₹1200, selling price ₹1500. Values: 1 = 15% profit, 2 = 15% loss, 3 = 25% profit.
15An article is marked at ₹1200. After giving a discount of 10%, the seller still earns a profit of 8%. What is the cost price of the article?