Mathematics Questions and Answers – Price Related to Buying and Selling (Profit and Loss)

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This set of Mathematics Multiple Choice Questions & Answers (MCQs) focuses on “Price Related to Buying and Selling (Profit and Loss)”.

1. Rohan bought bike for Rs. 75000. He wants to sell it by making 20% profit. What is the selling price of bike?
a) Rs.50000
b) Rs.60000
c) Rs.80000
d) Rs.90000
View Answer

Answer: d
Explanation: Price of bike is Rs. 75000. The price increased by 20%.
Profit = \(\frac{20}{100}\)×75000=15000
Selling price = Buying price + profit = 75000 + 15000 = 90000.

2. The price of bike is Rs. 75000. The seller offered discount of 20% this year. What is the discounted price of bike?
a) Rs.50000
b) Rs.60000
c) Rs.80000
d) Rs.90000
View Answer

Answer: b
Explanation: Price of bike is Rs. 75000. The discount offered is 20%.
Discount in price = \(\frac{20}{100}\)×75000=15000
Selling price = Buying price – discount = 75000 – 15000 = 60000.

3. An item is marked as Rs. 8000. There is a 25% discount on the item. What is the amount of discount received on the item?
a) Rs.6000
b) Rs.1000
c) Rs.1500
d) Rs.2000
View Answer

Answer: d
Explanation: Marked price of item Rs. 8000. Discount of item is 25%.
Discount = \(\frac{25}{100}\)×8000=2000.
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4. An item is marked as Rs. 6000. There is a 40% discount on the item. What is the discounted price of an item?
a) Rs.6000
b) Rs.3600
c) Rs.1500
d) Rs.2500
View Answer

Answer: b
Explanation: Marked price of item is Rs. 6000. Discount on item is 25%.
Discount = \(\frac{40}{100}\)×6000=2400
Discounted price = Marked price – Discount = 6000 – 2400 = 3600.

5. An item was marked for Rs. 5000 but sold for Rs. 3500. What is the % loss on the product?
a) 5
b) 10
c) 30
d) 20
View Answer

Answer: c
Explanation: Marked price of item is Rs. 5000. Selling price of item is Rs. 3500.
Discount = Marked price – Selling price = 5000 – 3500 = 1500
% discount=\(\frac{discount}{marked \,price}=\frac{1500}{5000}\)×100=30.
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6. The cost price of shirt is Rs. 2500. The shopkeeper sold 10 shirts at 15% profit. What is the total profit made?
a) Rs.1750
b) Rs.4500
c) Rs.1500
d) Rs.2500
View Answer

Answer: a
Explanation: Cost price of shirt is Rs. 2500. The shopkeeper sold 10 shirts. Thus, total cost price is Rs. 25000.
Profit = \(\frac{15}{100}\)×25000=3750
Total profit made by shopkeeper is R. 1750.

7. The cost price of house is Rs. 2500000. The house repair costed Raj Rs. 150000. The house was sole for 20% profit. What is the selling price of house?
a) Rs.318000
b) Rs.2580000
c) Rs.2500000
d) Rs.3180000
View Answer

Answer: d
Explanation: Cost price of house is Rs. 2500000. Cost of repair is Rs. 150000. Thus, total cost price of house is Rs. 2650000.
Profit = \(\frac{20}{100}\)×2650000=530000.
Selling price = Cost price + profit = 3180000.

8. Zayn bought tickets to concert for Rs. 1700. He wants to sell them at a profit of 22%. What is the selling price of tickets?
a) Rs.1750
b) Rs.2074
c) Rs.1700
d) Rs.1800
View Answer

Answer: b
Explanation: Buying price of tickets is Rs. 1700. Premium on tickets is 22%
Profit = \(\frac{22}{100}\)×1700=374
Selling price = Buying price + Profit = 1700 + 374 = 2074.
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9. Rehan bought bulbs for Rs. 25. He wants to sell them at a discount of 15%. What is the selling price of bulbs?
a) Rs.22.95
b) Rs.21.25
c) Rs.27
d) Rs.31.46
View Answer

Answer: b
Explanation: Buying price of bulbs is Rs. 25. Discount on tickets is 15%
Discount = \(\frac{15}{100}\)×25=3.75
Selling price = Buying price – Discount = 25 – 3.75 = 21.25.
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10. Riya bought apples for Rs. 350. She sold them for Rs. 400. Find the percentage of profit made by Riya.
a) 14.29%
b) 15.23%
c) 5.25%
d) 10.50%
View Answer

Answer: a
Explanation: Cost price of apples is Rs. 350. Selling price of apples is Rs. 400.
Profit = Selling price – Cost price = 400 – 350 = 50
%Profit = \(\frac{50}{350}\)×100=14.29.

Sanfoundry Global Education & Learning Series – Mathematics – Class 8.

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Manish Bhojasia, a technology veteran with 20+ years @ Cisco & Wipro, is Founder and CTO at Sanfoundry. He is Linux Kernel Developer & SAN Architect and is passionate about competency developments in these areas. He lives in Bangalore and delivers focused training sessions to IT professionals in Linux Kernel, Linux Debugging, Linux Device Drivers, Linux Networking, Linux Storage, Advanced C Programming, SAN Storage Technologies, SCSI Internals & Storage Protocols such as iSCSI & Fiber Channel. Stay connected with him @ LinkedIn | Youtube | Instagram | Facebook | Twitter