Profit & Loss Questions Answers – Quantitative MCQ Questions Answers
Profit and loss is a fundamental concept in the field of business and economics. It is crucial for individuals and businesses to understand how to calculate and interpret profits and losses accurately. This article presents a set of multiple-choice questions (MCQs) related to profit and loss, along with their answers, to help readers enhance their understanding of this essential topic.
1) A cloth merchant claim to sell his material at cost price but uses a scale which reads 1 m for 95 cm. find his gain percentage.
a) 5.26%
b)6.2%
c) 6.5%
d) 7.5%
2) A trade man marks his goods at 20% above the CP and gives a discount % of 10% for cash payments. What profit percentage does he make?
a) 8%
b) 6%
c) 10%
d) 12%
3) A dishonest seller uses a weight of 800 g in place of 1 kg and adds 20% impurities in sugar. What would be his profit percentage, if he claims to sell the goods at the cost price?
a) 50%
b) 40%
c) 25%
d) 45.5%
4) On selling tea at Rs 40 per kilogram a loss of 10% is incurred. Calculate the amount of tea (in kg) sold,if the total loss incurred is Rs 80.
a) 12 kg
b) 15 kg
c) 18 kg
d) 20 kg
5) A dealer makes a profit of 20% by selling an article. What would be the percentage change in the profit percent, if he had paid 20% less for it and the customer paid 10% more for it?
a) 225%
b) 125%
c) 160%
d) 200%
6) Mukul bought 80 kg of rice for Rs 1200 and sold it at a loss of as much money as he received for 20 kg rice. At what price per kg did he sell the rice?
a) Rs 12 per kg
b) Rs 10 per kg
c) Rs 8 per kg
d) Rs 11 per kg
7) A book was sold for a certain sum and there was a loss of 20%. Had it been sold for Rs 12 more, there would have been a gain of 30%. What would be the profit , if the book were sold for Rs 4.80 more than what it was sold for?
a) no profit, no loss
b) 20%
c) 5%
d) 3.5%
8) The cost price of an article is 40% of the selling price. The percent that the selling price is of cost price is
a) 250%
b) 240%
c) 60%
d) 40%
9) A dealer marks his goods 20% above cost price. He then allows some discount on it and makes a profit of 80%. The rate of discount is
a) 4%
b) 6%
c) 10%
d) 12%
10) Profit earned by selling an article for Rs 1060 is 20% more than the loss incurred by selling the article for Rs 950. At what price should the article be sold to earn 20% profit ?
a) Rs 1000
b) Rs 1150
c) Rs 1250
d) Rs 1200