Practice Profit & Loss MCQs for ISSB - PAF Officer Selection Mathematics — topic-wise sets with solved answers.
Q1. A shopkeeper marks goods 25% above cost and gives 10% discount. Profit % is:
Answer: 12.5%
Explanation: SP = 125% × 90% of CP = 1.125 × CP → 12.5% profit. Chain percentage: multiply factors, subtract 1, ×100.
Q2. An ISSB candidate buys study notes for Rs 2400 and sells them at a 15% loss. The selling price is:
Answer: Rs 2040
Explanation: A 15% loss on Rs 2400 is Rs 360, so selling price is 2400 minus 360, which equals Rs 2040.
Q3. A cadet store buys calculators at Rs 640 each and sells them at Rs 800. The profit percent on cost price is:
Answer: 25%
Explanation: Profit is Rs 160 on a cost of Rs 640. Profit percent equals 160 divided by 640 times 100, which is 25%.
Q4. An article is sold for Rs 1125 at a loss of 25%. Its cost price was:
Answer: Rs 1500
Explanation: Selling at 25% loss means the sale price is 75% of cost. Cost price equals 1125 divided by 0.75, which is Rs 1500.
Q5. The cost price of 15 articles equals the selling price of 12 articles. The profit percent on cost price is:
Answer: 25%
Explanation: If 12 selling prices equal 15 cost prices, each article sells for 15/12 of its cost. The gain is 3/12 of cost, which is 25%.
Q6. An item bought for Rs 480 is sold at a 25% profit on cost price. The selling price is:
Answer: Rs 600
Explanation: Twenty-five percent profit on Rs 480 is Rs 120. Adding this to the cost gives a selling price of Rs 600.
Q7. Two books are each sold for Rs 40. On the first there is a 20% gain and on the second a 20% loss. The overall result is:
Answer: 4% loss
Explanation: Cost prices are Rs 33.33 and Rs 50, totalling Rs 83.33 against sales of Rs 80. The overall loss is about 4% on the total cost.
Q8. A Navy canteen buys water bottles at Rs 75 each and sells them at Rs 90. The profit percent on cost price is:
Answer: 20%
Explanation: Profit is Rs 15 on a cost of Rs 75. Profit percent equals fifteen divided by seventy-five times one hundred, which is twenty percent.
Q9. An ISSB candidate sells used boots costing Rs 550 at a 10% loss. The selling price is:
Answer: Rs 495
Explanation: A ten percent loss on Rs 550 is Rs 55. Subtracting this from the cost price gives a selling price of Rs 495.
Q10. A compass is sold for Rs 550 at a profit of 10% on cost price. The cost price was:
Answer: Rs 500
Explanation: Ten percent profit means the selling price is one hundred ten percent of cost. Cost price equals five hundred fifty divided by one point one, which is Rs 500.
Q11. An Army wristwatch sold for Rs 960 at a loss of 20%. Its cost price was:
Answer: Rs 1200
Explanation: Selling at twenty percent loss means the sale price is eighty percent of cost. Cost price equals nine hundred sixty divided by zero point eight, which is Rs 1200.
Q12. A shopkeeper buys a kit for Rs 400 and sells it for Rs 500. What is his profit percentage?
Answer: 25%
Explanation: Profit is 100 on a cost of 400. Profit percent is 100 divided by 400, times 100, which equals 25%.
Q13. An article is sold at 10% loss for Rs 450. What was its cost price?
Answer: Rs 500
Explanation: Selling price is 90% of cost price. So cost price is 450 divided by 0.9, which equals 500.
Q14. A man buys a watch for Rs 800 and sells it at 10% loss. What is the selling price?
Answer: Rs 720
Explanation: Ten percent of 800 is 80. Selling price at 10% loss is 800 minus 80, which is 720.
Q15. Marked price is Rs 1000 and discount is 20%. What is the selling price?
Answer: Rs 800
Explanation: Twenty percent of 1000 is 200. Selling price is 1000 minus 200, which is 800.
Q16. If cost price is Rs 250 and profit is 20%, selling price is:
Answer: Rs 300
Explanation: Twenty percent of 250 is 50. Selling price is 250 plus 50, which is 300.
Q17. A man buys an item for Rs 600 and sells it for Rs 750. Profit percent is:
Answer: 25%
Explanation: Profit is 150 on cost 600. Profit percent is 150/600 times 100, which is 25%.
Q18. Marked price Rs 500, discount 10%. Selling price is:
Answer: Rs 450
Explanation: Ten percent of 500 is 50. Selling price is 500 minus 50, which is 450.
Q19. If cost is Rs 400 and loss is 10%, selling price is:
Answer: Rs 360
Explanation: Ten percent of 400 is 40. Selling price is 400 minus 40, which is 360.
Q20. A shopkeeper marks Rs 200 and gives 5% discount. Selling price is:
Answer: Rs 190
Explanation: Five percent of 200 is 10. Selling price is 200 minus 10, which is 190.
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