CBSE Class 8 Mathematics Profit and Loss MCQs Set 35

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Multiple Choice Questions

Question 1: A shopkeeper buys a toy for Rs. 250 and sells it for Rs. 285. His gain percent is:
(a) 14%
(b) 10%
(c) 35%
(d) 12.5%
Show Answer & Explanation

Answer: (a) 14%

Explanation:
1. Gain = 285 - 250 = Rs. 35.
2. Gain% = 35/250 x 100 = 14%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 2: If the cost price of 18 mangoes equals the selling price of 16 mangoes, the gain percent is:
(a) 12.5%
(b) 12%
(c) 11.11%
(d) 10%
Show Answer & Explanation

Answer: (a) 12.5%

Explanation:
1. Let the CP of one mango be Rs. 1: CP of 16 mangoes = 16 and SP of 16 mangoes = 18.
2. Gain = 2/16 x 100 = 12.5%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 3: A girl buys lemons at 4 for Rs. 3 and sells them at 5 for Rs. 4. Her gain percent is:
(a) 5%
(b) 6 2/3%
(c) 8.33%
(d) 10%
Show Answer & Explanation

Answer: (b) 6 2/3%

Explanation:
1. CP per lemon = 0.75; SP per lemon = 0.80.
2. Gain = 0.05/0.75 x 100 = 20/3 = 6 2/3%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 4: A person sells an article for Rs. 550, gaining 1/10 of its cost price. The gain percent is:
(a) 11%
(b) 9%
(c) 10%
(d) 5%
Show Answer & Explanation

Answer: (c) 10%

Explanation:
1. Gain is 1/10 of CP, i.e. 10%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 5: If a man sells his hand-cart for Rs. 720 he loses 25%. To gain 25% he must sell it for (in Rs.):
(a) Rs. 1100
(b) Rs. 1000
(c) Rs. 1200
(d) Rs. 900
Show Answer & Explanation

Answer: (c) Rs. 1200

Explanation:
1. CP = 720/0.75 = 960.
2. SP for 25% gain = 960 x 1.25 = 1200.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 6: A toy was sold at a gain of 12%. Had it been sold for Rs. 33 more, the gain would have been 14%. The cost price is (in Rs.):
(a) Rs. 1500
(b) Rs. 1650
(c) Rs. 1800
(d) Rs. 1320
Show Answer & Explanation

Answer: (b) Rs. 1650

Explanation:
1. 2% of CP = 33.
2. CP = 1650.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 7: A man bought an article and sold it at a gain of 10%. If he had bought it at 20% less and sold it for Rs. 10 more, he would have made a profit of 40%. The cost price is (in Rs.):
(a) Rs. 450
(b) Rs. 600
(c) Rs. 500
(d) Rs. 400
Show Answer & Explanation

Answer: (c) Rs. 500

Explanation:
1. 1.1C + 10 = 1.4 x 0.8C = 1.12C.
2. 0.02C = 10, so C = 500.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 8: Alfred buys an old scooter for Rs. 4700 and spends Rs. 800 on repairs. He sells it for Rs. 5800. His gain percent is:
(a) 10%
(b) 4 4/7%
(c) 12%
(d) 5 5/11%
Show Answer & Explanation

Answer: (d) 5 5/11%

Explanation:
1. Total cost = 5500.
2. Gain = 300/5500 x 100 = 60/11 = 5 5/11%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 9: A shopkeeper purchased 70 kg of potatoes for Rs. 420 and sold the lot at Rs. 6.50 per kg. His gain percent is:
(a) 20%
(b) 8 1/3%
(c) 6.25%
(d) 4 1/6%
Show Answer & Explanation

Answer: (b) 8 1/3%

Explanation:
1. SP = 70 x 6.5 = 455, gain = 35.
2. Gain% = 35/420 x 100 = 25/3 = 8 1/3%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 10: Sam purchased 20 dozens of toys at Rs. 375 per dozen and sold each toy at Rs. 33. His percentage profit is:
(a) 4.5%
(b) 6.5%
(c) 3.5%
(d) 5.6%
Show Answer & Explanation

Answer: (d) 5.6%

Explanation:
1. CP = 20 x 375 = Rs. 7500; number of toys = 240, SP = 240 x 33 = Rs. 7920.
2. Profit% = 420/7500 x 100 = 5.6%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 11: A man buys a cycle for Rs. 1400 and sells it at a loss of 15%. The selling price is (in Rs.):
(a) Rs. 1190
(b) Rs. 1160
(c) Rs. 1202
(d) Rs. 1090
Show Answer & Explanation

Answer: (a) Rs. 1190

Explanation:
1. SP = 1400 x 0.85 = 1190.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 12: A sells an article costing him Rs. 400 to B at a profit of 20%. B sells it to C making a profit of 10% on the price he paid to A. C pays B (in Rs.):
(a) Rs. 532
(b) Rs. 476
(c) Rs. 472
(d) Rs. 528
Show Answer & Explanation

Answer: (d) Rs. 528

Explanation:
1. B pays A: 400 x 1.2 = 480.
2. C pays B: 480 x 1.1 = 528.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 13: Peter purchased a machine for Rs. 80,000 and spent Rs. 5000 on repair and Rs. 1000 on transport. He sold it with 25% profit. The selling price is (in Rs.):
(a) Rs. 106250
(b) Rs. 105100
(c) Rs. 117500
(d) Rs. 107500
Show Answer & Explanation

Answer: (d) Rs. 107500

Explanation:
1. Total cost = 86000.
2. SP = 86000 x 1.25 = 107500.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 14: A shopkeeper expects a gain of 22 1/2% on his cost price. If in a week his sales were Rs. 392, his profit was (in Rs.):
(a) Rs. 72
(b) Rs. 70
(c) Rs. 18.20
(d) Rs. 88.25
Show Answer & Explanation

Answer: (a) Rs. 72

Explanation:
1. CP of goods sold = 392/1.225 = 320.
2. Profit = 392 - 320 = 72.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 15: The sale price of an article including sales tax is Rs. 616. The rate of sales tax is 10%. If the shopkeeper made a profit of 12%, the cost price is (in Rs.):
(a) Rs. 500
(b) Rs. 550
(c) Rs. 515
(d) Rs. 600
Show Answer & Explanation

Answer: (a) Rs. 500

Explanation:
1. Price before tax = 616/1.10 = 560.
2. CP = 560/1.12 = 500.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 16: Saransh purchased 120 reams of paper at Rs. 80 per ream, spent Rs. 280 on transport, 40 paise per ream on octroi and Rs. 72 on the coolie. To gain 8% the selling price per ream must be (in Rs.):
(a) Rs. 86
(b) Rs. 90
(c) Rs. 87.48
(d) Rs. 89
Show Answer & Explanation

Answer: (b) Rs. 90

Explanation:
1. Total cost = 9600 + 280 + 48 + 72 = 10000.
2. SP = 10800 for 120 reams, i.e. Rs. 90 per ream.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 17: The selling price of an article marked Rs. 650 with a discount of 10% is (in Rs.):
(a) Rs. 600
(b) Rs. 715
(c) Rs. 585
(d) Rs. 65
Show Answer & Explanation

Answer: (c) Rs. 585

Explanation:
1. 650 x 0.90 = 585.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 18: The selling price of an article marked Rs. 5450 with a discount of 5% is (in Rs.):
(a) Rs. 5177.50
(b) Rs. 5722.50
(c) Rs. 272.50
(d) Rs. 5177
Show Answer & Explanation

Answer: (a) Rs. 5177.50

Explanation:
1. 5450 x 0.95 = 5177.50.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 19: The marked price of an article sold for Rs. 3430 after a discount of 2% is (in Rs.):
(a) Rs. 3360
(b) Rs. 3500
(c) Rs. 3498
(d) Rs. 3600
Show Answer & Explanation

Answer: (b) Rs. 3500

Explanation:
1. SP = 98% of MP, so MP = 3430/0.98 = 3500.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 20: An article marked Rs. 625 is sold for Rs. 562.50. The discount percent is:
(a) 12.5%
(b) 11.11%
(c) 8%
(d) 10%
Show Answer & Explanation

Answer: (d) 10%

Explanation:
1. Discount = 62.50; 62.5/625 x 100 = 10%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 21: An article marked Rs. 1600 is sold for Rs. 1180. The discount percent is:
(a) 27.5%
(b) 26.25%
(c) 20%
(d) 25%
Show Answer & Explanation

Answer: (b) 26.25%

Explanation:
1. Discount = 420; 420/1600 x 100 = 26.25%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 22: At a clearance sale all goods are on sale at 45% discount. A skirt marked Rs. 600 costs (in Rs.):
(a) Rs. 420
(b) Rs. 330
(c) Rs. 270
(d) Rs. 380
Show Answer & Explanation

Answer: (b) Rs. 330

Explanation:
1. 600 x 0.55 = 330.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 23: A shopkeeper marks goods so that after allowing a discount of 12.5% for cash he still makes a profit of 10%. The marked price of an article which costs him Rs. 245 is (in Rs.):
(a) Rs. 280
(b) Rs. 320
(c) Rs. 308
(d) Rs. 300
Show Answer & Explanation

Answer: (c) Rs. 308

Explanation:
1. SP = 245 x 1.10 = 269.50.
2. MP = 269.50/0.875 = 308.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 24: A dealer buys an article for Rs. 380. To allow a 5% discount and still gain 25% he must mark it at (in Rs.):
(a) Rs. 520
(b) Rs. 475
(c) Rs. 500
(d) Rs. 450
Show Answer & Explanation

Answer: (c) Rs. 500

Explanation:
1. SP = 380 x 1.25 = 475.
2. MP = 475/0.95 = 500.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 25: A tradesman allows a discount of 15% on the written price. To make a profit of 19% he must mark his goods above the cost price by (percent):
(a) 19%
(b) 34%
(c) 45%
(d) 40%
Show Answer & Explanation

Answer: (d) 40%

Explanation:
1. MP x 0.85 = 1.19 CP gives MP = 1.4 CP.
2. The mark-up is 40%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 26: Articles are marked at a price giving a profit of 25%. After allowing a certain discount the profit reduces to 12 1/2%. The discount percent is:
(a) 10%
(b) 12.5%
(c) 15%
(d) 8%
Show Answer & Explanation

Answer: (a) 10%

Explanation:
1. Let CP = 100: MP = 125 and SP = 112.5.
2. Discount = 12.5/125 x 100 = 10%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 27: A cycle merchant allows 25% discount on his advertised price and still makes a profit of 20%. If he gains Rs. 60 on one cycle, his advertised price is (in Rs.):
(a) Rs. 480
(b) Rs. 600
(c) Rs. 400
(d) Rs. 360
Show Answer & Explanation

Answer: (a) Rs. 480

Explanation:
1. 0.75A = 1.2C and 0.75A - C = 60 gives 0.2C = 60, so C = 300.
2. A = 1.2 x 300/0.75 = 480.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 28: A manufacturer wants a 10% gain after allowing a 20% discount on the marked price. His marked price is above the cost price by (percent):
(a) 42.5%
(b) 37.5%
(c) 30%
(d) 40%
Show Answer & Explanation

Answer: (b) 37.5%

Explanation:
1. Let CP = 100: SP = 110.
2. MP = 110/0.8 = 137.5, so the mark-up is 37.5%.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

Question 29: A dealer allows a 20% discount on the marked price and still makes a profit of 25%. If his gain on one instrument is Rs. 150, the marked price is (in Rs.):
(a) Rs. 750
(b) Rs. 900
(c) Rs. 1000
(d) Rs. 937.50
Show Answer & Explanation

Answer: (d) Rs. 937.50

Explanation:
1. 25% of CP = 150, so CP = 600 and SP = 750.
2. MP = 750/0.8 = 937.50.

Teacher's Note:
1. Profit or loss percent is always calculated on the cost price; discount percent on the marked price.
2. SP = CP x (1 + profit%) or CP x (1 - loss%); SP = MP x (1 - discount%).

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