📘 Key Definitions
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Cost Price (CP): The price at which a product is purchased (includes cost of production/manufacturing).
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Selling Price (SP): The price at which the product is sold to customers.
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Profit (P): Earned when SP > CP.
P=SP−CPP = SP - CP -
Loss (L): Incurred when SP < CP.
L=CP−SPL = CP - SP -
Marked Price (MP): The price printed on the label or tag of a product.
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Discount (D): Reduction on MP to attract customers.
SP=MP−DSP = MP - D -
Profit Percentage (P%):
P%=PCP×100P\% = \frac{P}{CP} \times 100 -
Loss Percentage (L%):
L%=LCP×100L\% = \frac{L}{CP} \times 100
📘 Example MCQs
Q1. A shopkeeper bought a toy for Rs. 500 and sold it for Rs. 650. What is the profit percentage?
a) 15%
b) 20%
c) 25%
d) 30%
Answer: (c) 25%
Explanation: Profit = SP - CP = 650 - 500 = 150
P%=150500×100=30%P\% = \frac{150}{500} \times 100 = 30\%
⚠️ Correction: Actual answer = (d) 30% (your earlier answer key had a mismatch).
Q2. A shirt was bought for Rs. 800 and sold at a loss of 12.5%. What was the selling price?
a) Rs. 680
b) Rs. 700
c) Rs. 720
d) Rs. 750
Answer: (c) Rs. 720
Explanation: Loss = 12.5% of 800 = 100
SP = CP - Loss = 800 - 100 = 720
Q3. A trader sold a mobile phone for Rs. 9,000 and incurred a loss of 10%. What was the cost price?
a) Rs. 9,500
b) Rs. 10,000
c) Rs. 10,500
d) Rs. 11,000
Answer: (b) Rs. 10,000
Explanation:
SP = CP × (100 - Loss%)/100
9000 = CP × (90/100)
CP = 9000 × 100 / 90 = 10,000
Q4. If the cost price of an item is Rs. 200 and it is sold at a profit of 20%, what is the selling price?
a) Rs. 220
b) Rs. 240
c) Rs. 250
d) Rs. 260
Answer: (a) Rs. 240
Explanation: Profit = 20% of 200 = 40
SP = CP + Profit = 200 + 40 = 240
Q5. A shopkeeper offers a discount of 20% on a pair of shoes. If the marked price is Rs. 1,500, what is the selling price?
a) Rs. 1,100
b) Rs. 1,200
c) Rs. 1,300
d) Rs. 1,400
Answer: (b) Rs. 1,200
Explanation: Discount = 20% of 1500 = 300
SP = MP - Discount = 1500 - 300 = 1200
Q6. A trader bought 15 pens for Rs. 750 and sold them at a profit of 30%. What was the selling price of each pen?
a) Rs. 50
b) Rs. 65
c) Rs. 60
d) Rs. 55
Answer: (c) Rs. 65
Explanation:
CP of 15 pens = 750 ⇒ CP of 1 pen = 750/15 = 50
Profit = 30% of 50 = 15
SP of 1 pen = 50 + 15 = 65
Q7. A shirt was sold for Rs. 800 at a loss of 20%. What was the cost price?
a) Rs. 1,000
b) Rs. 1,100
c) Rs. 1,200
d) Rs. 1,500
Answer: (a) Rs. 1,000
Explanation:
SP = CP × (100 - Loss%)/100
800 = CP × 80/100
CP = 1000
Q8. A toy was bought for Rs. 200 and sold for Rs. 250. What was the profit percentage?
a) 10%
b) 15%
c) 20%
d) 25%
Answer: (d) 25%
Explanation: Profit = 50
P% = (50/200) × 100 = 25%
Q9. A trader sold a TV for Rs. 12,000 at a profit of 25%. What was the cost price?
a) Rs. 9,600
b) Rs. 10,000
c) Rs. 10,800
d) Rs. 11,000
Answer: (b) Rs. 10,000
Explanation:
SP = CP × (100 + Profit%)/100
12,000 = CP × 125/100
CP = 10,000
Q10. A book was sold at a loss of 8%. If the selling price was Rs. 460, what was the cost price?
a) Rs. 500
b) Rs. 480
c) Rs. 490
d) Rs. 520
Answer: (d) Rs. 500
Explanation:
SP = CP × (100 - Loss%)/100
460 = CP × 92/100
CP = 460 × 100 / 92 = 500
📘 Additional Practice Questions (with explanations)
Q11. A shopkeeper bought a mobile phone for Rs. 15,000 and sold it for Rs. 18,000. What is the profit percentage?
Answer: (c) 20%
Explanation: Profit = 3000, Profit% = (3000/15000) × 100 = 20%
Q12. A shirt was bought for Rs. 800 and sold at a loss of 10%. What was the selling price?
Answer: (b) Rs. 720
Explanation: Loss = 10% of 800 = 80 → SP = 720
Q13. A trader sold a laptop for Rs. 40,000 at a loss of 20%. What was the cost price?
Answer: (b) Rs. 48,000
Explanation: CP = 40,000 × 100 / 80 = 48,000
Q14. If the cost price of an item is Rs. 250 and it is sold at a profit of 25%, what is the selling price?
Answer: (c) Rs. 312.50
Explanation: Profit = 25% of 250 = 62.50 → SP = 312.50
