Profit and Loss MCQs Quiz (30 Questions) for TLT, ECT, PST, JEST Exam | Mathematics

Profit and Loss — MCQs Quiz

Subject: Mathematics  |  Topic: Profit and Loss (30 MCQs)

For TLT, ECT, PST, JEST & All Competitive Exams

Test your understanding of Profit and Loss with this interactive 30-MCQ quiz — covering formulas, Cost Price, Selling Price, and percentage calculations. Every numerical calculation has been verified. Select your answer for each question, then click Submit at the end to instantly see your score.

Instructions: Select one option for each question. After answering all questions, click the Submit button below to see your obtained marks and correct/incorrect answers.

1. What is the formula for Profit?

C.P. − S.P. S.P. − C.P. S.P. + C.P. S.P. / C.P.

2. What is the formula for Loss?

S.P. − C.P. C.P. − S.P. C.P. + S.P. C.P. / S.P.

3. What is the formula for Profit Percentage?

(Profit / S.P.) × 100 (Profit / C.P.) × 100 (C.P. / Profit) × 100 (S.P. / Profit) × 100

4. A shopkeeper buys an item for Rs. 200 and sells it for Rs. 250. Find the profit.

Rs. 30 Rs. 40 Rs. 50 Rs. 60

5. Using C.P. = Rs. 200 and Profit = Rs. 50, find the profit percentage.

20% 25% 30% 15%

6. A trader buys an item for Rs. 500 and sells it for Rs. 450. Find the loss.

Rs. 30 Rs. 40 Rs. 50 Rs. 60

7. Using C.P. = Rs. 500 and Loss = Rs. 50, find the loss percentage.

5% 8% 10% 12%

8. An item costs Rs. 400 and is sold at a profit of 15%. Find the Selling Price.

Rs. 415 Rs. 440 Rs. 460 Rs. 480

9. An item costs Rs. 600 and is sold at a loss of 10%. Find the Selling Price.

Rs. 500 Rs. 540 Rs. 560 Rs. 580

10. Profit and Loss percentages are always calculated on which value (unless stated otherwise)?

Selling Price Cost Price Market Price Discount Price

11. If C.P. = Rs. 1,000 and S.P. = Rs. 1,200, find the profit percentage.

15% 20% 25% 30%

12. If C.P. = Rs. 800 and S.P. = Rs. 680, find the loss percentage.

10% 12.5% 15% 20%

13. An item costs Rs. 250 and is sold at a profit of 20%. Find the Selling Price.

Rs. 270 Rs. 280 Rs. 300 Rs. 320

14. An item costs Rs. 1,500 and is sold at a loss of 8%. Find the Selling Price.

Rs. 1,380 Rs. 1,400 Rs. 1,420 Rs. 1,440

15. What is the Cost Price called?

The price at which an item is sold The price at which an item is purchased The tax added to a product The discount given on a product

16. When does a Loss occur?

When S.P. is greater than C.P. When S.P. is less than C.P. When S.P. equals C.P. Loss never occurs

17. When does a Profit occur?

When S.P. is less than C.P. When S.P. is greater than C.P. When S.P. equals C.P. Profit never occurs

18. An item is bought for Rs. 350 and sold for Rs. 420. Find the profit.

Rs. 50 Rs. 60 Rs. 70 Rs. 80

19. Using C.P. = Rs. 350 and Profit = Rs. 70, find the profit percentage.

15% 18% 20% 22%

20. An item is bought for Rs. 900 and sold for Rs. 810. Find the loss.

Rs. 70 Rs. 80 Rs. 90 Rs. 100

21. Using C.P. = Rs. 900 and Loss = Rs. 90, find the loss percentage.

8% 9% 10% 12%

22. What is the formula for Selling Price when Profit % is known?

S.P. = C.P. × (100 + Profit%) / 100 S.P. = C.P. − Profit% S.P. = C.P. / Profit% S.P. = C.P. × Profit%

23. What is the formula for Selling Price when Loss % is known?

S.P. = C.P. × (100 − Loss%) / 100 S.P. = C.P. + Loss% S.P. = C.P. / Loss% S.P. = C.P. × Loss%

24. An item costs Rs. 2,000 and is sold at a profit of 25%. Find the Selling Price.

Rs. 2,250 Rs. 2,400 Rs. 2,500 Rs. 2,600

25. An item costs Rs. 1,200 and is sold at a loss of 15%. Find the Selling Price.

Rs. 1,000 Rs. 1,020 Rs. 1,050 Rs. 1,080

26. If C.P. = Rs. 150 and S.P. = Rs. 180, find the profit percentage.

15% 18% 20% 25%

27. If C.P. = Rs. 400 and S.P. = Rs. 360, find the loss percentage.

8% 10% 12% 15%

28. A vendor buys fruit for Rs. 80 per kg and sells it for Rs. 100 per kg. Find the profit percentage.

20% 25% 30% 15%

29. What is Selling Price (S.P.)?

The price at which an item is purchased The price at which an item is sold The manufacturing cost of an item The shipping cost of an item

30. An item costs Rs. 300 and is sold at a profit of 10%. Find the Selling Price.

Rs. 310 Rs. 320 Rs. 330 Rs. 340

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