Profit & Loss – Medium Level Questions – UGC NET Paper 1

Q1): Cost price is ₹800 and profit is 12.5%. Find the selling price.
A) ₹880
B) ₹890
C) ₹900
D) ₹920

Answer: C) ₹900

Explanation:

  • Step 1: Formula: SP = CP × (1 + Profit%/100)
  • Step 2: Profit% = 12.5, so multiplier = 1.125
  • Step 3: SP = 800 × 1.125 = 900
  • Final: Selling price is ₹900, so option C is correct.

Q2): An item is sold for ₹1150 at 15% profit. Find the cost price.
A) ₹950
B) ₹1000
C) ₹1050
D) ₹1100

Answer: B) ₹1000

Explanation:

  • Step 1: 15% profit means SP = 115% of CP
  • Step 2: Formula: CP = SP ÷ 1.15
  • Step 3: CP = 1150 ÷ 1.15 = 1000
  • Final: Cost price is ₹1000, so option B is correct.

Q3): An article is sold for ₹684 at 5% loss. Find the cost price.
A) ₹700
B) ₹720
C) ₹740
D) ₹760

Answer: B) ₹720

Explanation:

  • Step 1: 5% loss means SP = 95% of CP
  • Step 2: Formula: CP = SP ÷ 0.95
  • Step 3: CP = 684 ÷ 0.95 = 720
  • Final: Cost price is ₹720, so option B is correct.

Q4): MP is ₹1200 and discount is 10%. If CP is ₹900, find profit percent.
A) 15%
B) 18%
C) 20%
D) 22%

Answer: C) 20%

Explanation:

  • Step 1: SP after 10% discount = 1200 × 0.90 = 1080
  • Step 2: Profit = SP − CP = 1080 − 900 = 180
  • Step 3: Formula: Profit% = (Profit/CP) × 100
  • Step 4: Profit% = (180/900) × 100 = 20%
  • Final: Profit percent is 20%, so option C is correct.

Q5): MP is ₹2000. It is sold at 20% discount and still gives 25% profit. Find CP.
A) ₹1200
B) ₹1250
C) ₹1280
D) ₹1300

Answer: C) ₹1280

Explanation:

  • Step 1: SP after 20% discount = 2000 × 0.80 = 1600
  • Step 2: 25% profit means SP = 1.25 × CP
  • Step 3: Formula: CP = SP ÷ 1.25
  • Step 4: CP = 1600 ÷ 1.25 = 1280
  • Final: Cost price is ₹1280, so option C is correct.

Q6): Find the equivalent single discount for successive discounts of 10% and 5%.
A) 14%
B) 14.5%
C) 15%
D) 15.5%

Answer: B) 14.5%

Explanation:

  • Step 1: Successive discount factor = (1 − 0.10) × (1 − 0.05)
  • Step 2: Factor = 0.90 × 0.95 = 0.855
  • Step 3: Equivalent discount = 1 − 0.855 = 0.145
  • Step 4: Discount% = 0.145 × 100 = 14.5%
  • Final: Equivalent single discount is 14.5%, so option B is correct.

Q7): An item is marked ₹1500 and sold at 10% discount. If profit is 8%, find CP.
A) ₹1200
B) ₹1250
C) ₹1300
D) ₹1350

Answer: B) ₹1250

Explanation:

  • Step 1: SP after 10% discount = 1500 × 0.90 = 1350
  • Step 2: 8% profit means SP = 1.08 × CP
  • Step 3: Formula: CP = SP ÷ 1.08
  • Step 4: CP = 1350 ÷ 1.08 = 1250
  • Final: Cost price is ₹1250, so option B is correct.

Q8): An item is sold for ₹960 at 20% profit. What will be the SP for 30% profit (same CP)?
A) ₹1000
B) ₹1040
C) ₹1080
D) ₹1120

Answer: B) ₹1040

Explanation:

  • Step 1: 20% profit means SP = 1.20 × CP
  • Step 2: CP = 960 ÷ 1.20 = 800
  • Step 3: For 30% profit, SP = 1.30 × 800
  • Step 4: SP = 1040
  • Final: New selling price is ₹1040, so option B is correct.

Q9): Two items are bought for ₹500 each. One is sold at 10% profit and the other at 10% loss. Find overall result.
A) 5% profit
B) 1% loss
C) No profit no loss
D) 10% loss

Answer: C) No profit no loss

Explanation:

  • Step 1: Profit on first item = 10% of 500 = 50
  • Step 2: Loss on second item = 10% of 500 = 50
  • Step 3: Net gain/loss = 50 − 50 = 0
  • Final: Overall there is no profit and no loss, so option C is correct.

Q10): A trader sells an item at 20% profit. If CP were ₹50 more and SP same, profit would be 10%. Find original CP.
A) ₹500
B) ₹550
C) ₹600
D) ₹650

Answer: B) ₹550

Explanation:

  • Step 1: Let original CP = x, then SP = 1.20x
  • Step 2: New CP = x + 50, and SP = 1.10(x + 50)
  • Step 3: 1.20x = 1.10x + 55
  • Step 4: 0.10x = 55 ⇒ x = 550
  • Final: Original CP is ₹550, so option B is correct.

Q11): An item is sold for ₹882 after successive discounts of 10% and 2% on MP. Find MP.
A) ₹950
B) ₹980
C) ₹1000
D) ₹1020

Answer: C) ₹1000

Explanation:

  • Step 1: Successive discount factor = 0.90 × 0.98 = 0.882
  • Step 2: SP = MP × 0.882
  • Step 3: MP = 882 ÷ 0.882 = 1000
  • Final: Marked price is ₹1000, so option C is correct.

Q12): A dishonest dealer uses 900 g as 1 kg and sells at the cost price per kg. Find gain percent.
A) 10%
B) 11 1/9%
C) 12.5%
D) 9.09%

Answer: B) 11 1/9%

Explanation:

  • Step 1: He charges for 1000 g but gives only 900 g
  • Step 2: Effective gain factor = 1000/900
  • Step 3: 1000/900 = 1.111…
  • Step 4: Gain% = (1.111… − 1) × 100 = 11.111…% = 11 1/9%
  • Final: Gain percent is 11 1/9%, so option B is correct.

Q13): An item is sold for ₹600 at 25% loss. Find SP for 20% profit on the same CP.
A) ₹900
B) ₹940
C) ₹960
D) ₹1000

Answer: C) ₹960

Explanation:

  • Step 1: 25% loss means SP = 75% of CP
  • Step 2: CP = 600 ÷ 0.75 = 800
  • Step 3: For 20% profit, SP = 1.20 × 800
  • Step 4: SP = 960
  • Final: New SP is ₹960, so option C is correct.

Q14): A shopkeeper wants 25% profit but gives 10% discount on MP. MP should be what percent of CP?
A) 125%
B) 135%
C) 138.89%
D) 150%

Answer: C) 138.89%

Explanation:

  • Step 1: Desired SP = 1.25 × CP
  • Step 2: Discount 10% means SP = 0.90 × MP
  • Step 3: MP = SP ÷ 0.90 = (1.25/0.90) × CP
  • Step 4: (1.25/0.90) = 1.3889… ⇒ 138.89% of CP
  • Final: MP must be 138.89% of CP, so option C is correct.

Q15): A trader earns 20% profit. If CP increases by 10% but SP remains the same, new profit percent is:
A) 9.09%
B) 10%
C) 11.11%
D) 8%

Answer: A) 9.09%

Explanation:

  • Step 1: Let CP = x, then SP = 1.20x
  • Step 2: New CP = 1.10x, SP remains 1.20x
  • Step 3: New profit = 1.20x − 1.10x = 0.10x
  • Step 4: New profit% = (0.10x/1.10x) × 100 = 9.09%
  • Final: New profit percent is 9.09%, so option A is correct.

Q16): A trader earns 25% profit. If CP decreases by 20% but SP remains the same, new profit percent is:
A) 50%
B) 56.25%
C) 60%
D) 62.5%

Answer: B) 56.25%

Explanation:

  • Step 1: Let CP = x, then SP = 1.25x
  • Step 2: New CP = 0.80x, SP remains 1.25x
  • Step 3: New profit = 1.25x − 0.80x = 0.45x
  • Step 4: New profit% = (0.45x/0.80x) × 100 = 56.25%
  • Final: New profit percent is 56.25%, so option B is correct.

Q17): An article is marked ₹2400 and sold at 15% discount. If profit is 20%, find CP.
A) ₹1600
B) ₹1650
C) ₹1700
D) ₹1750

Answer: C) ₹1700

Explanation:

  • Step 1: SP after 15% discount = 2400 × 0.85 = 2040
  • Step 2: Profit 20% means SP = 1.20 × CP
  • Step 3: Formula: CP = SP ÷ 1.20
  • Step 4: CP = 2040 ÷ 1.20 = 1700
  • Final: Cost price is ₹1700, so option C is correct.

Q18): A man sells two items at ₹660 each. On one he gains 10% and on the other he loses 10%. Overall result is:
A) 1% loss
B) 1% profit
C) No profit no loss
D) 2% loss

Answer: A) 1% loss

Explanation:

  • Step 1: CP₁ = 660 ÷ 1.10 = 600 (10% gain case)
  • Step 2: CP₂ = 660 ÷ 0.90 = 733.33… (10% loss case)
  • Step 3: Total CP = 600 + 733.33… = 1333.33…
  • Step 4: Total SP = 660 + 660 = 1320, so loss = 13.33…
  • Step 5: Loss% = (13.33…/1333.33…) × 100 = 1%
  • Final: Overall there is 1% loss, so option A is correct.

Q19): A trader sells at 5% profit. If he sells for ₹21 more, profit becomes 8%. Find CP.
A) ₹650
B) ₹700
C) ₹750
D) ₹800

Answer: B) ₹700

Explanation:

  • Step 1: Let CP = x, then first SP = 1.05x
  • Step 2: New SP = 1.05x + 21 and also equals 1.08x
  • Step 3: 1.08x = 1.05x + 21
  • Step 4: 0.03x = 21 ⇒ x = 700
  • Final: Cost price is ₹700, so option B is correct.

Q20): An item is bought for ₹1500. Expenses are ₹100. It is sold for ₹1840. Find profit percent.
A) 12%
B) 15%
C) 16%
D) 18%

Answer: B) 15%

Explanation:

  • Step 1: Total cost price = CP + expenses = 1500 + 100 = 1600
  • Step 2: Profit = SP − total CP = 1840 − 1600 = 240
  • Step 3: Formula: Profit% = (Profit/total CP) × 100
  • Step 4: Profit% = (240/1600) × 100 = 15%
  • Final: Profit percent is 15%, so option B is correct.

This Tutorial is Related to: Aptitude Mcqs, Cp Sp, Discount, Dishonest Weight, Loss Percentage, Marked Price, Medium Level, Overall Profit Loss, Profit &Amp; Loss, Profit &Amp; Loss Questions, Profit Percentage, Pyq Pattern, Successive Discount, Ugc Net Paper 1, Unit 5

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