Profit and Loss MCQ Quiz - Objective Question with Answer for Profit and Loss - Download Free PDF
Last updated on Jun 11, 2025
Latest Profit and Loss MCQ Objective Questions
Profit and Loss Question 1:
A and B entered into a partnership by investing Rs. x and Rs. (x + 5000) respectively. At the end of the year, the ratio of profit share of A to B is 7: 9. Find the value of 7x?
Answer (Detailed Solution Below)
Profit and Loss Question 1 Detailed Solution
Given:
Investment by A = Rs. x
Investment by B = Rs. (x + 5000)
Profit share ratio of A to B = 7 : 9
Formula used:
Profit share ratio = Investment ratio (since profit is directly proportional to investment)
Calculations:
Let the total profit be P.
The ratio of profit shares of A and B is given as 7:9. So, the profit for A is 7 parts and for B is 9 parts.
The total parts = 7 + 9 = 16 parts.
The profit share of A and B is directly proportional to their investments.
Investment of A / Investment of B = Profit share of A / Profit share of B
So, x / (x + 5000) = 7 / 9
Cross multiplying:
9x = 7(x + 5000)
9x = 7x + 35000
9x - 7x = 35000
2x = 35000
x = 35000 / 2 = 17500
Now, find the value of 7x:
7x = 7 × 17500 = 122500
∴ The value of 7x is Rs. 122500.
Profit and Loss Question 2:
A sold a camera to B at profit of 20%. Cost price of B is Rs. 30000. Find the cost price of A if he sold the camera in 25%?
Answer (Detailed Solution Below)
Profit and Loss Question 2 Detailed Solution
Given:
Cost price of B = ₹30,000
Profit of B = 20%
Profit of A = 25%
Formula used:
Cost Price of A = Cost Price of B / (1 + Profit% of B)
Calculations:
Cost Price of A = 30,000 / (1 + 20/100)
⇒ Cost Price of A = 30,000 / 1.20
⇒ Cost Price of A = ₹25,000
∴ The cost price of A is ₹25,000.
Profit and Loss Question 3:
R and V started a business together. R invested Rs. X, while V invested Rs. 7000. After 5 months, R increased his investment by 50%. Two months later, V reduced his investment by 30%. At the end of 12 months, the total profit was Rs. 3020, out of which R received Rs. 1550 as his share. What was the initial investment made by R?
Answer (Detailed Solution Below)
Profit and Loss Question 3 Detailed Solution
Calculation
Let R initial investment = 2x
After, five-month R investment = 2x × [150 /100] = 3x
V investment after seven months = 7000 × 7 /10 = 4900
Profit ratio of R to that of V
= (2x × 5 + 3𝑥 × 7) : (7000 × 7 + 4900 × 5)
= 31x: 73500
ATQ
[31𝑥/73500] = [1550 / (3020 – 1550)]
x = 2500
R initial investment = 2x = Rs 5000
So, X = 5000
Profit and Loss Question 4:
An article has a cost price of ₹ a and is sold at ₹ 2a. The marked price is ₹ 700 more than the cost price. Now, if both the cost price and selling price are increased by ₹ 100, but the marked price remains unchanged, then what is the difference between the new discount and the new profit on the article?
(Given: a=252−125)
Answer (Detailed Solution Below)
Profit and Loss Question 4 Detailed Solution
Given:
a = 252 − 125 = 625 − 125 = ₹500
Cost Price (CP) = ₹a = ₹500
Selling Price (SP) = ₹2a = ₹1000
Marked Price (MP) = a + 700 = 500 + 700 = ₹1200
Formula used:
Discount = MP − SP
Profit = SP − CP
New values:
New CP = 500 + 100 = ₹600
New SP = 1000 + 100 = ₹1100
New MP = ₹1200 (unchanged)
Calculations:
New Discount = 1200 − 1100 = ₹100
New Profit = 1100 − 600 = ₹500
Difference = 500 − 100 = ₹400
∴ The required difference between new discount and new profit is ₹400.
Profit and Loss Question 5:
What is the profit percentage when half the quantity of an article is sold at double the price?
Answer (Detailed Solution Below)
Profit and Loss Question 5 Detailed Solution
Given:
Half the quantity of an article is sold at double the price of the whole cost price.
Calculations:
Let's assume total quantity of the article = 2 units
and cost Price (CP) of the whole article (2 units) = ₹100
Therefore, CP of 1 unit (half the quantity) = ₹50
According to the problem, half the quantity (1 unit) is sold at double the price of the whole cost price.
Selling Price (SP) of 1 unit = 2 × (CP of 2 units)
⇒ SP of 1 unit = 2 × ₹100
⇒ SP of 1 unit = ₹200
Profit on the sale of this 1 unit = SP of 1 unit - CP of 1 unit
⇒ Profit = ₹200 - ₹50
⇒ Profit = ₹150
Profit percentage = (Profit / CP of quantity sold) × 100
⇒ Profit percentage = (150 / 50) × 100
⇒ Profit percentage = 3 × 100
⇒ Profit percentage = 300%
∴ The profit percentage is 300%.
Top Profit and Loss MCQ Objective Questions
A shopkeeper earns a profit of 25 percent on selling a radio at 15 percent discount on the Printed price. Finds the ratio of the Printed price and the cost price of the radio.
Answer (Detailed Solution Below)
Profit and Loss Question 6 Detailed Solution
Download Solution PDFGiven:
Profit = 25 Percent
Discount = 15 Percent
Formula:
MP/CP = (100 + Profit %)/(100 – Discount %)
MP = Printed Price
CP = Cost Price
Calculation:
We know that –
MP/CP = (100 + Profit %)/(100 – Discount %) ………. (1)
Put all given values in equation (1) then we gets
MP/CP = (100 + 25)/(100 – 15)
⇒ 125/85
⇒ 25/17
∴ The Ratio of the Printed price and cost price of radio will be 25 ∶ 17In what ratio sugar of Rs. 38 per kg and Rs. 30 per kg be mixed with each other so that on selling mixture at Rs. 35.2 per kg there will be a profit of 10%?
Answer (Detailed Solution Below)
Profit and Loss Question 7 Detailed Solution
Download Solution PDFGiven Profit = 10%, Selling Price = Rs. 35.2
Cost Price = Selling Price/(1 + Profit%) = 35.2/(1 + 10%) = 35.2/(1 + 0.1) = 35.2/1.1 = Rs. 32
Now find the ratio in which the two varieties of sugar need to be mixed to get a cost price of Rs. 32
Using the formula for Allegations,
Quantity of lesser price/Quantity of higher price = (Average - Price of lesser quantity)/(Price of higher quantity Average)
⇒ (32 – 30)/(38 – 32) = 2/6 = 1 : 3
∴ Required ratio = 1 : 3
A shopkeeper normally makes a profit of 20% in a certain transaction; he weights 900 g instead of 1 kg, due to an issue with the weighing machine. If he charges 10% less than what he normally charges, what is his actual profit or loss percentage?
Answer (Detailed Solution Below)
Profit and Loss Question 8 Detailed Solution
Download Solution PDFGiven:
A shopkeeper normally makes a profit of 20% in a certain transaction,
He weights 900 g instead of 1 kg, due to an issue with the weighing machine.
He charges 10% less than what he normally charges.
Formula used:
SP =
Calculations:
Let the cost price of 1 Kg of goods = Rs. 100
So, the selling price of 1 Kg of goods = 100 × 120/100 = Rs. 120
Cost price of 900 grams of goods = Rs. 90
According to question,
Shopkeeper charges 10% less what he normally charges
So, the new selling price = old selling price × (100 - 10)/100
⇒ New selling price = 120 ×
So, profit = Rs. (108 - 90) = Rs. 18
So, profit % = (
Hence, Profit percentage is 20%.
A dishonest merchant sells goods at a 12.5% loss on the cost price, but uses 28 g weight instead of 36 g. What is his percentage profit or loss?
Answer (Detailed Solution Below)
Profit and Loss Question 9 Detailed Solution
Download Solution PDFGiven:
A dishonest merchant sells goods at a 12.5% loss on the cost price but uses 28 g weight instead of 36 g.
Concept used:
Final percentage change after two successive increments of A% and B% = (A + B +
Calculation:
Percentage gain by using 28 g weight instead of 36 g =
Percentage loss = 12.5%
Considering 12.5% loss as -12.5% profit,
Now, the final percentage profit/loss =
Here, the positive sign indicates a percentage profit.
∴ His percentage profit is 12.5%
Shortcut TrickCalculation:
Merchant sells goods at a 12.5% loss:
C.P : S.P = 8 : 7
Merchant uses 28 g weight instead of 36 g
C.P : S.P = 28 : 36 = 7 : 9
We can use successive methods:
C.P. | S.P. |
8 | 7 |
7 | 9 |
56 | 63 |
So, C.P : S.P = 56 : 63 = 8 : 9
Profit% = {(9 - 8)/8} × 100
⇒ 12.5%
∴ The correct answer is 12.5%.
Two successive discounts of 40% and 20%, respectively, on the marked price of an article are equal to single discount of Rs 988. The marked price (in Rs) of the article is:
Answer (Detailed Solution Below)
Profit and Loss Question 10 Detailed Solution
Download Solution PDFGiven:
Two discounts = 40% and 20%
Formula:
Two discounts a% and b%
Total discount =
Discount amount = (marked price) × (discount %)/100
Calculation:
Single discount percentage =
⇒ 52 = 988/marked price × 100
⇒ Marked price = 1900
∴ Marked price of an article is Rs.1900.
Alternate MethodLet the MP be x.
x - [x × (100 - 40)/100 × (100 - 20)/100] = 988
⇒ x - [x × (60/100) × (80/100)] = 988
⇒ x - x × (3/5) × (4/5) = 988
⇒ 13x/25 = 988
⇒ x = (988 × 25)/13
⇒ x = 1900
∴ Marked price of an article is Rs.1900.
Sulekha bought 36 kg of sugar for Rs. 1,040. She sold it at a profit equal to the selling price of 10 kg of it. What is the selling price (in Rs.) for 5 kg of sugar ?
Answer (Detailed Solution Below)
Profit and Loss Question 11 Detailed Solution
Download Solution PDFGiven:
Cost price of 36 kg sugar = Rs.1040
Formula used:
Profit = Selling price - Cost price
Calculation:
CP of 1 kg sugar = Rs.1040/36
According to the question,
SP × 10 = SP × 36 - CP × 36
⇒ CP × 36 = 26 × SP
⇒ 1040/ 36 × 36 = 26 × SP
⇒ 1040 = 26 × SP
⇒ SP = 1040/26 = 40
Now, SP of 5 kg of sugar = 40 × 5 = Rs. 200
∴ The selling price of 5 kg sugar = Rs.200
A grocery shop is offering 10% discount on the purchase of Rs.500 and above. A 5% discount is given on the purchase of value above Rs.250 but below Rs.500. A discount of additional 1% is given if payment is made instantly in cash. How much would a customer have to pay by cash if he buys 25 packets of biscuits and one packet is priced at Rs.30?
Answer (Detailed Solution Below)
Profit and Loss Question 12 Detailed Solution
Download Solution PDFGiven:
A grocery shop is offering a 10% discount on the purchase of Rs.500 and above. A 5% discount is given on the purchase of value above Rs.250 but below Rs.500. A discount of an additional 1% is given if payment is made instantly in cash.
He bought 25 packets of biscuits and one packet is priced at Rs.30.
Concept used:
1. Final discount percentage after two successive discounts of A% and B% =
2. Selling price = Marked Price × (1 - Discount%)
Calculation:
Total billed price = 25 × 30 = Rs. 750
Since he paid in cash, he would get two consecutive discounts of 10% and 1%.
So, final discounts = 10 + 1 - (10 × 1)/100 = 10.9%
Now, he would have to pay = 750 × (1 - 10.9%) = Rs. 668.25
∴ He would have to pay Rs. 668.25.
A and B invested money in a business in the ratio of 7 ∶ 5. If 15% of the total profit goes for charity, and A's share in the profit is Rs. 5,950, then what is the total profit?
Answer (Detailed Solution Below)
Profit and Loss Question 13 Detailed Solution
Download Solution PDFGiven:
A and B invested money in a business in the ratio of 7 ∶ 5.
15% of the total profit goes for charity, and A's share in the profit is Rs. 5,950
Calculation:
The total profit of A and B will be 5950 × 12 / 7 = Rs 10200
The total profit including charity is 10200 × 100/85 = Rs 12000
∴ The correct option is 2
A shopkeeper marks his goods 30% higher than the cost price and allows a discount of 10% on the marked price. In order to earn 6.5% more profit, what discount percent should he allow on the marked price?
Answer (Detailed Solution Below)
Profit and Loss Question 14 Detailed Solution
Download Solution PDFGiven:
Mark up percentage on goods = 30%
Discount Percentage = 10%
Formulas used:
Selling Price = Cost Price + Profit
Profit percent = Profit/Cost Price × 100
Discount = Marked Price - Selling Price
Discount percent = Discount/Marked Price × 100
Calculation:
Let the cost price be = 100a
Marked price = 100a + 100a × 30/100 = 130a
Selling price after discount = 130a - 130a × 10/100
⇒ 117a
Selling price for 6.5% more profit = 117a + 100a × 6.5/100
⇒ 117a + 6.5a = 123.5a
∴ New Discount percent = (130a -123.5a)/130 × 100
⇒ 5%
Shortcut Trick
On selling an item for 440 rupees, loss is 60% of the profit received on selling the same item in 1000 rupees. Know the purchase price of that item? (In rupees)
Answer (Detailed Solution Below)
Profit and Loss Question 15 Detailed Solution
Download Solution PDFCalculation:
Let cost price of the item be Rs. x
According to the question
(x – 440) = (1000 – x) × 60/100
⇒ (x – 440) = (1000 – x) × 3/5
⇒ 5x – 2200 = 3000 – 3x
⇒ 5x + 3x = 3000 + 2200
⇒ 8x = 5200
⇒ x = 5200/8
⇒ x = 650
∴ The correct answer is option (1).
Shortcut Trick