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- Most Important Multiple Choice Questions
- Online Profit and Loss Exercise with Correct Answer Key and Solutions
- Useful for all Competitive Exams

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- Question 1 of 21
##### 1. Question

By selling an article for Rs 96, double profit is obtained than the profit that would have been obtained by selling it for Rs 84. What is the cost price of the article?

##### Hint

Let the cost price of the article be Rs x.

Then, 2(84 – x) = 96 – x

168 – 2x = 96 – x

∴ x = Rs 72

- Question 2 of 21
##### 2. Question

The owner of an electronics shop charges his customer 22% more than the cost price. If a customer paid Rs 10,980 for a DVD player, then what was the cost price of the DVD player?

##### Hint

CP of DVD player = Rs x

According to the question,

x

= Rs 10980

∴ x = 10980 × ⁵⁰⁄₆₁ = Rs 9000

- Question 3 of 21
##### 3. Question

The owner of a stationery shop charges his customers 28% more than the cost price. If a customer paid Rs 4544 for school books, then what was the cost price of the school books?

##### Hint

Let the cost price be Rs x

Now, according to the question,

= Rs 3550

- Question 4 of 21
##### 4. Question

A shopkeeper purchases 10 kg of rice at Rs 600 and sells at a loss as much the selling price of 2 kg of rice. Find the sale rate of rice/ kg.

##### Hint

Let S. P. = Rs x per kg

∴ S.P. of 2 kg of rice = Rs 2x = Loss

Now, Loss = C.P. – S.P.

2x = 600 – 10 x

⇒ x = Rs 50 per kg

- Question 5 of 21
##### 5. Question

The owner of a toy shop charges his customers 33% more than the cost price. If the customer paid `4,921 for a toy, then what was the cost price of the toy?

##### Hint

Required cost price

=

= Rs 3700

- Question 6 of 21
##### 6. Question

Mohan purchased an article and sold it for Rs 2817.50 and earned 15 percent profit on the cost price. What was the cost price of the article?

##### Hint

Cost price

=

= Rs 2450

- Question 7 of 21
##### 7. Question

The profit earned after selling an article for Rs 1,754 is the same as loss incurred after selling the article for Rs 1,492. What is the cost price of the article?

##### Hint

Cost price

= Rs 1623

- Question 8 of 21
##### 8. Question

Prathik sold a music system to Karthik at 20% gain and Karthik sold it to Swasthik at 40% gain. If Swasthik paid `10,500 for the music system, what amount did Prathik pay for the same?

##### Hint

Required amount

=

= Rs 6250

- Question 9 of 21
##### 9. Question

If the manufacturer gains 10%, the wholesale dealer 15% and the retailer 25%, then find the cost of production of a table, the retail price of which is Rs 1265?

##### Hint

Let the cost of production of the table be Rs x.

Then, 125% of 115% of 110% of x = 1265

- Question 10 of 21
##### 10. Question

A sells a tube to B at a profit of 20% and B sells it to C at profit of 25 %. If C pays Rs 225 for it, what did A pay for it?

##### Hint

Let A paid = Rs x

125 % of 120% of x = 225

⇒

⇒

- Question 11 of 21
##### 11. Question

A sells an article which costs him Rs 400 to B at a profit of 20%. B then sells it to C, making a profit of 10% on the price he paid to A. How much does C pay to B?

##### Hint

C.P. for B = 120% of Rs 400

= = Rs 480

C.P. for C = 110% of Rs 480

= = Rs 528.

- Question 12 of 21
##### 12. Question

The difference between the selling price of a clock at a profit of 8% and 10% is Rs 6. Find the cost price of the clock.

##### Hint

Let C. P. = Rs x. Then S.P₁ – S.P₂ = Rs 6

⇒ 110 x – 108 x = 600

⇒ 2x = 600 ⇒ x = Rs 300

- Question 13 of 21
##### 13. Question

The price of 2 sarees and 4 shirts is Rs 16000. With the same money one can buy 1 saree and 6 shirts. If one wants to buy 12 shirts, how much shall one have to pay?

##### Hint

Let the price of one saree and one shirt be Rs x and Rs y respectively.

Then, 2x + 4y = 1600

or, x + 2y = 800 … (i)

Also, x + 6y = 1600 … (ii)

Solving equations (i) and (ii), we get

4y = 800 or, y = 200

∴ cost of 12 shirts

= 12 × 200 = Rs 2400

- Question 14 of 21
##### 14. Question

A milk man makes a profit of 20% on the sale of milk. If he were to add 10% water to the milk, by what %would his profit increase?

##### Hint

Let profit per litre = Rs 20

So, C.P. / litre = Rs 100

S.P. / litre = Rs 120

On adding 10% water to the milk

S.P. / litre

⇒ Profit / litre %

Profit increases = 33.33 – 20 = 13.3

- Question 15 of 21
##### 15. Question

A man sold two steel chairs for Rs 500 each. On one he gains 20% and on other, he loses 12%. How much does he gain or lose in the whole transaction?

##### Hint

S.P. of the 1st chair = Rs 500, Gain = 20%

∴ C.P. of the 1st chair

=

S.P. of the 2nd chair = Rs 500

Loss = 12%

∴ C.P. of the 2nd chair

=

=

Now S.P. of both the chairs = Rs 1000

C.P. of both the chairs

∴ Net gain = 1000 –

⇒ Gain % =

=

= (To one place of decimal)

- Question 16 of 21
##### 16. Question

A firm of ready-made garments makes both men’s and women’s shirts. Its average profit is 6% of the sales. Its profit in men’s shirts average 8% of the sales and women’s shirts comprise 60% of the output. The average profit per sale rupee in women shirts is

##### Hint

Women’s shirt comprise 60% of the output.

∴ Men’s shirts comprise (100 – 60)

= 40% of the out put.

∴ Average profit from men’s shirt

= 8% of 40 = 3.2 out of 40

Overall average profit

= 6 out of 100

∴ Average profit from women’s shirts

= 2.8 out of 60 i.e. 0.0466 out of each shirt.

- Question 17 of 21
##### 17. Question

A dealer sold a mixer for Rs 420 at a loss of 12.5%. At what price should he have sold it to gain 12.5%.

##### Hint

(100 – loss) : S₁ : : (100 + gain) : S₂

∴ (100 – 12.5) : 420 : : (100 + 12.5) : S₂

87.5 : 420 : : 112.5 : S₂

⇒ 87.5 × S₂ = 420 × 112.5

⇒

- Question 18 of 21
##### 18. Question

A cycle agent buys 30 bicycles, of which 8 are first grade and the rest are second grade for Rs 3150. Find at what price he must sell the first grade bicycles so that if he sells the second grade bicycles at third quarter of the price, he may make a profit of 40% on both the type of transactions?

##### Hint

Let the price of first grade cycles be Rs x each and that of second grade cycles be Rs y each.

Now, 8x + 22y = 3150

Let he sells A grade cycle at a rate of Rs z per bicycle. Then,

⇒ 32z + 66z = 17640

⇒ 98z = 17640 or z = 180

He should sell the first grade bicycles at a rate of Rs 180.

- Question 19 of 21
##### 19. Question

John sold a fan at a loss of 7%. If he had sold it for Rs 48 more, he would have gained 5%. Find the cost price of the fan.

##### Hint

Let C.P. = Rs x. Then,

S.P.

Also,

⇒ 93x + 4800 = 105x

⇒ 12x = 4800

⇒ x = Rs 400

- Question 20 of 21
##### 20. Question

A man bought a horse and a carriage for Rs 3000. He sold the horse at a gain of 20% and the carriage at a loss 10%, thereby gaining 2% on the whole. Find the cost of the horse.

##### Hint

Let the C.P. of horse = Rs x

Then the C.P. of carriage = Rs (3000 – x)

20% of x – 10% of (3000 – x) = 2% of 3000

⇒ 2x – 3000 + x = 600

⇒ 3x = 3600

⇒ x = 1200

- Question 21 of 21
##### 21. Question

Two electronic musical instruments were purchased for Rs 8000. The first was sold at a profit of 40% and the second at loss of 40%. If the sale price was the same in both the cases, what was the cost price of two electronic musical instruments?

##### Hint

Here, SP₁ = SP₂

⇒ 140 CP₁ = 60CP₂

⇒

and CP₂ = 8000 – 2400 = Rs 5600