CBSE Class 10 Mathematics Profit, Loss and Discount MCQs Set 23

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Multiple Choice Questions

Question 1: By selling a ceiling fan for Rs. 475, a dealer loses 5%. To get a gain of 5%, he should sell the fan for
(a) Rs. 575.00
(b) Rs. 525.00
(c) Rs. 522.50
(d) Rs. 498.75
Show Answer & Explanation

Answer: (b) Rs. 525.00

Explanation:
1. CP = 475 × 100/95 = Rs. 500
2. SP for a gain of 5% = 500 × 1.05 = Rs. 525.

Teacher's Note:
1. Find the cost price first.

Question 2: A dishonest shopkeeper uses a false balance and cheats a customer by giving 20% less quantity of food. His profit is
(a) 80%
(b) 75%
(c) 25%
(d) 20%
Show Answer & Explanation

Answer: (c) 25%

Explanation:
1. He gives 80 for the price of 100
2. Profit = 20/80 × 100 = 25%.

Teacher's Note:
1. Profit is measured on the goods actually given.

Question 3: Ram sold a watch to Shyam at a gain of 5% and Shyam sold it to Hari at a gain of 4%. If Hari paid Rs. 1092 for it, the price paid by Ram is
(a) Rs. 993.72
(b) Rs. 996
(c) Rs. 1000
(d) Rs. 995.90
Show Answer & Explanation

Answer: (c) Rs. 1000

Explanation:
1. 1092 = Ram's cost × 1.05 × 1.04 = 1.092 × cost
2. Ram's cost = Rs. 1000.

Teacher's Note:
1. Successive gains multiply.

Question 4: The cost of 10 copies of a book equals the selling price of 8 copies. What is the percentage of gain or loss incurred?
(a) 30% gain
(b) 25% loss
(c) 25% gain
(d) 30% loss
Show Answer & Explanation

Answer: (c) 25% gain

Explanation:
1. 10 CP = 8 SP, so SP = 1.25 CP
2. Gain = 25%.

Teacher's Note:
1. Compare the price of one copy.

Question 5: If a man reduces the selling price of a fan from Rs. 400 to Rs. 300, his loss percent increases by 20 (percentage points). The cost price of the fan in rupees is
(a) 600
(b) 480
(c) 500
(d) 700
Show Answer & Explanation

Answer: (c) 500

Explanation:
1. The loss increases by Rs. 100
2. 100/CP × 100 = 20, so CP = Rs. 500
3. Check: loss at 400 is 20% and at 300 is 40%.

Teacher's Note:
1. The extra loss is Rs. 100.

Question 6: A dealer sold a VCR for Rs. 10800 at a loss of 20%. At what price should he have sold it to gain 12.5%?
(a) Rs. 15450
(b) Rs. 15580
(c) Rs. 15625
(d) Rs. 15187.50
Show Answer & Explanation

Answer: (d) Rs. 15187.50

Explanation:
1. CP = 10800 × 100/80 = Rs. 13500
2. SP for 12.5% gain = 13500 × 1.125 = Rs. 15187.50.

Teacher's Note:
1. Find the cost price first.

Question 7: A man buys an old car for Rs. 33000 and sells it at a gain of 2%. If his overhead expenses are 1% of the purchase price, he sold the car for nearly
(a) Rs. 33990.00
(b) Rs. 33993.80
(c) Rs. 33995.10
(d) Rs. 33996.60
Show Answer & Explanation

Answer: (d) Rs. 33996.60

Explanation:
1. Total cost = 33000 + 330 = Rs. 33330
2. SP = 33330 × 1.02 = Rs. 33996.60.

Teacher's Note:
1. Overheads are added to the cost.

Question 8: The list price of a T.V. is Rs. 14400. It is sold for two successive discounts of 25% and 10%, it will sell for
(a) Rs. 9580
(b) Rs. 9600
(c) Rs. 9720
(d) Rs. 9880
Show Answer & Explanation

Answer: (c) Rs. 9720

Explanation:
1. SP = 14400 × 0.75 × 0.90 = Rs. 9720.

Teacher's Note:
1. Multiply the discount factors.

Question 9: If the list price of an article is x and the price after discount is (x − y), then the rate of discount is
(a) y%
(b) (100y/x)%
(c) (100x/y)%
(d) 100y%
Show Answer & Explanation

Answer: (b) (100y/x)%

Explanation:
1. Discount = y on list price x
2. Rate = y/x × 100 = (100y/x)%.

Teacher's Note:
1. Discount is on the list price.

Question 10: A man sold a watch for Rs. 600 at a loss. Had he sold it for Rs. 750, his gain would have been double the former loss. The cost price of the watch is
(a) Rs. 800
(b) Rs. 700
(c) Rs. 670
(d) Rs. 650
Show Answer & Explanation

Answer: (d) Rs. 650

Explanation:
1. Let CP = C: 750 − C = 2(C − 600)
2. 750 − C = 2C − 1200, so 3C = 1950 and C = Rs. 650.

Teacher's Note:
1. Form an equation from gain = 2 × loss.

Question 11: By selling an umbrella for Rs. 300, a shopkeeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% on the marked price. His gain percent during the sale is
(a) 7
(b) 7.5
(c) 8
(d) 9
Show Answer & Explanation

Answer: (c) 8

Explanation:
1. CP = 300/1.2 = Rs. 250; the marked price is Rs. 300
2. Sale price = 270
3. Gain % = 20/250 × 100 = 8%.

Teacher's Note:
1. The original selling price is the marked price.

Question 12: A shopkeeper allows a discount of 10% on the marked price of an item but charges a sales tax of 8% on the discounted price. If the customer pays Rs. 680.40 as the price including the sales tax, what is the marked price of the item?
(a) Rs. 630
(b) Rs. 700
(c) Rs. 780
(d) None of these
Show Answer & Explanation

Answer: (b) Rs. 700

Explanation:
1. Marked price × 0.9 × 1.08 = 680.40
2. 0.972 × MP = 680.40, so MP = Rs. 700.

Teacher's Note:
1. Sales tax is charged on the discounted price.

Question 13: At what percent above the cost price must a shopkeeper mark his goods so that he gains 20% even after giving a discount of 10% on the marked price?
(a) 25%
(b) 30%
(c) 33 1/3%
(d) 37 1/2%
Show Answer & Explanation

Answer: (c) 33 1/3%

Explanation:
1. 0.9 × MP = 1.2 × CP, so MP = 4/3 CP
2. The marked price is 33 1/3% above the cost price.

Teacher's Note:
1. SP can be written using either the discount or the profit.

Question 14: A trader marked the selling price of an article at 10% above the cost price. At the time of selling, he allows a certain discount and suffers a loss of 1%. He allowed a discount of
(a) 9%
(b) 10%
(c) 10.5%
(d) 11%
Show Answer & Explanation

Answer: (b) 10%

Explanation:
1. CP = 100: MP = 110, SP = 99
2. Discount = 11/110 × 100 = 10%.

Teacher's Note:
1. Discount is on the marked price.

Question 15: The labelled price of a cupboard is Rs. 6500. The shopkeeper sold it by giving 5% discount on the labelled price and earned a profit of 15%. What is approximately the cost price of the cupboard?
(a) Rs. 5000
(b) Rs. 5370
(c) Rs. 5600
(d) Rs. 5800
Show Answer & Explanation

Answer: (b) Rs. 5370

Explanation:
1. SP = 6500 × 0.95 = Rs. 6175
2. CP = 6175/1.15 ≈ Rs. 5370.

Teacher's Note:
1. Find the selling price first.

Question 16: Kunal bought a suitcase with 15% discount on the labelled price. He sold the suitcase for Rs. 2880 with 20% profit on the labelled price. At what price did he buy the suitcase?
(a) Rs. 2040
(b) Rs. 2400
(c) Rs. 2604
(d) Rs. 2640
Show Answer & Explanation

Answer: (a) Rs. 2040

Explanation:
1. 1.2 × labelled price = 2880, so the labelled price = Rs. 2400
2. Bought at 85% of 2400 = Rs. 2040.

Teacher's Note:
1. The profit here is measured on the labelled price.

Question 17: A shopkeeper sold a T.V. set for Rs. 17,940 with a discount of 8% and earned a profit of 19.6%. What would have been the percentage of profit earned if no discount was offered?
(a) 24.8%
(b) 25%
(c) 26.4%
(d) None of these
Show Answer & Explanation

Answer: (d) None of these

Explanation:
1. Marked price = 17940/0.92 = Rs. 19500
2. Cost price = 17940/1.196 = Rs. 15000
3. Profit without discount = 4500/15000 × 100 = 30%, which is not in the first three options.

Teacher's Note:
1. The marked price and cost price can both be found from the selling price.

Question 18: A shopkeeper sold sarees at Rs. 266 each after giving 5% discount on the labelled price. Had he not given the discount, he would have earned a profit of 12% on the cost price. What was the cost price of each saree?
(a) Rs. 240
(b) Rs. 260
(c) Rs. 280
(d) None of these
Show Answer & Explanation

Answer: (d) None of these

Explanation:
1. Labelled price = 266/0.95 = Rs. 280
2. Without discount, 280 = 1.12 × CP, so CP = Rs. 250, which is not among the first three options.

Teacher's Note:
1. The labelled price is the selling price when no discount is given.

Question 19: A shopkeeper sold an article offering a discount of 5% and earned a profit of 23.5%. What would have been the percentage of profit earned if no discount was offered?
(a) 24.5
(b) 28.5
(c) 30
(d) None of these
Show Answer & Explanation

Answer: (c) 30

Explanation:
1. Take the cost = 100: SP = 123.5 = 0.95 × MP, so MP = 130
2. With no discount, profit = 30%.

Teacher's Note:
1. Marked price = SP/0.95.

Question 20: Tarun got 30% concession on the labelled price of an article and sold it for Rs. 8750 with 25% profit on the price he bought. What was the labelled price?
(a) Rs. 10,000
(b) Rs. 12,000
(c) Rs. 16,000
(d) None of these
Show Answer & Explanation

Answer: (a) Rs. 10,000

Explanation:
1. Cost to Tarun = 8750/1.25 = Rs. 7000
2. This is 70% of the labelled price, so labelled price = 7000/0.7 = Rs. 10000.

Teacher's Note:
1. The price he bought at is the cost price.

Question 21: A bag marked at Rs. 80 is sold for Rs. 68. The rate of discount is
(a) 12%
(b) 15%
(c) 17 11/17%
(d) 20%
Show Answer & Explanation

Answer: (b) 15%

Explanation:
1. Discount = 12
2. Rate = 12/80 × 100 = 15%.

Teacher's Note:
1. Discount percent is on the marked price.

Question 22: Vipin sold two horses for Rs. 3990 each. On one he gained 5% and on the other he lost 5%. His net gain or loss is
(a) No loss no profit
(b) Rs. 20 loss
(c) Rs. 20 gain
(d) None of these
Show Answer & Explanation

Answer: (b) Rs. 20 loss

Explanation:
1. CP of the first = 3990/1.05 = 3800 and CP of the second = 3990/0.95 = 4200
2. Total CP = 8000 and total SP = 7980
3. Net loss = Rs. 20.

Teacher's Note:
1. Find both cost prices separately.

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Multiple Choice Questions (MCQs) for Class 10 Mathematics Profit, Loss and Discount

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