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30 Profit & Loss Questions and Answers

30 solved Profit & Loss questions with step-by-step explanations. Includes formulas, shortcuts, and tips for placement tests and competitive exams.

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Advanced profit & loss questions for experienced learners. These medium-to-hard questions test deeper understanding and are ideal for those who have already mastered the basics. Each question includes a detailed explanation.

Key Formulas

Profit = Selling Price - Cost Price Profit % = (Profit / CP) × 100 Loss = Cost Price - Selling Price Loss % = (Loss / CP) × 100 SP = CP × (100 + Profit%) / 100 SP = CP × (100 - Loss%) / 100 False weight profit% = (Error / Actual) × 100
Q1 Medium

If Cost Price = Rs. 873 and Selling Price = Rs. 1042, what is the profit amount?

  • A. 129
  • B. 149
  • C. 189
  • D. 169 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1042 - 873 = 169.
Q2 Medium

A product costs Rs. 1220 and is sold at 10% profit. Find the selling price.

  • A. 1344
  • B. 1339
  • C. 1340
  • D. 1342 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+10)/100 = 1220 x 110/100 = 1342.
Q3 Medium

If Cost Price = Rs. 1118 and Selling Price = Rs. 1519, what is the profit amount?

  • A. 421
  • B. 401 ✓
  • C. 361
  • D. 381
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1519 - 1118 = 401.
Q4 Medium

A product costs Rs. 480 and is sold at 10% profit. Find the selling price.

  • A. 528 ✓
  • B. 530
  • C. 526
  • D. 525
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+10)/100 = 480 x 110/100 = 528.
Q5 Medium

An item is sold for Rs. 782 at a loss of 15%. Find its cost price.

  • A. 860
  • B. 830
  • C. 980
  • D. 920 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100-15)/100. So CP = SP x 100/(100-15) = 920.
Q6 Medium

A product costs Rs. 1080 and is sold at 25% profit. Find the selling price.

  • A. 1347
  • B. 1348
  • C. 1352
  • D. 1350 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+25)/100 = 1080 x 125/100 = 1350.
Q7 Medium

An item is sold for Rs. 374 at a loss of 15%. Find its cost price.

  • A. 380
  • B. 440 ✓
  • C. 350
  • D. 500
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100-15)/100. So CP = SP x 100/(100-15) = 440.
Q8 Medium

A product costs Rs. 380 and is sold at 15% profit. Find the selling price.

  • A. 435
  • B. 439
  • C. 437 ✓
  • D. 434
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+15)/100 = 380 x 115/100 = 437.
Q9 Medium

If Cost Price = Rs. 934 and Selling Price = Rs. 1406, what is the profit amount?

  • A. 452
  • B. 472 ✓
  • C. 432
  • D. 492
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1406 - 934 = 472.
Q10 Medium

A product costs Rs. 1100 and is sold at 10% profit. Find the selling price.

  • A. 1207
  • B. 1212
  • C. 1208
  • D. 1210 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+10)/100 = 1100 x 110/100 = 1210.
Q11 Medium

If Cost Price = Rs. 1321 and Selling Price = Rs. 1619, what is the profit amount?

  • A. 318
  • B. 278
  • C. 258
  • D. 298 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1619 - 1321 = 298.
Q12 Medium

A product costs Rs. 880 and is sold at 5% profit. Find the selling price.

  • A. 922
  • B. 924 ✓
  • C. 926
  • D. 921
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+5)/100 = 880 x 105/100 = 924.
Q13 Medium

If Cost Price = Rs. 1399 and Selling Price = Rs. 1509, what is the profit amount?

  • A. 130
  • B. 90
  • C. 70
  • D. 110 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1509 - 1399 = 110.
Q14 Medium

An item is sold for Rs. 1216 at a loss of 5%. Find its cost price.

  • A. 1220
  • B. 1190
  • C. 1340
  • D. 1280 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100-5)/100. So CP = SP x 100/(100-5) = 1280.
Q15 Medium

A product costs Rs. 1380 and is sold at 25% profit. Find the selling price.

  • A. 1727
  • B. 1725 ✓
  • C. 1723
  • D. 1722
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+25)/100 = 1380 x 125/100 = 1725.
Q16 Medium

An item is sold for Rs. 1102 at a loss of 5%. Find its cost price.

  • A. 1160 ✓
  • B. 1100
  • C. 1220
  • D. 1070
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100-5)/100. So CP = SP x 100/(100-5) = 1160.
Q17 Medium

If Cost Price = Rs. 1355 and Selling Price = Rs. 1817, what is the profit amount?

  • A. 462 ✓
  • B. 422
  • C. 482
  • D. 442
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1817 - 1355 = 462.
Q18 Medium

A product costs Rs. 320 and is sold at 25% profit. Find the selling price.

  • A. 402
  • B. 398
  • C. 397
  • D. 400 ✓
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+25)/100 = 320 x 125/100 = 400.
Q19 Medium

If Cost Price = Rs. 625 and Selling Price = Rs. 989, what is the profit amount?

  • A. 344
  • B. 324
  • C. 364 ✓
  • D. 384
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 989 - 625 = 364.
Q20 Medium

An item is sold for Rs. 570 at a loss of 5%. Find its cost price.

  • A. 660
  • B. 600 ✓
  • C. 540
  • D. 510
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100-5)/100. So CP = SP x 100/(100-5) = 600.
Q21 Medium

If Cost Price = Rs. 542 and Selling Price = Rs. 644, what is the profit amount?

  • A. 82
  • B. 62
  • C. 102 ✓
  • D. 122
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 644 - 542 = 102.
Q22 Medium

An item is sold for Rs. 1080 at a loss of 10%. Find its cost price.

  • A. 1110
  • B. 1140
  • C. 1200 ✓
  • D. 1260
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100-10)/100. So CP = SP x 100/(100-10) = 1200.
Q23 Medium

If Cost Price = Rs. 1385 and Selling Price = Rs. 1814, what is the profit amount?

  • A. 409
  • B. 389
  • C. 429 ✓
  • D. 449
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1814 - 1385 = 429.
Q24 Medium

A product costs Rs. 1720 and is sold at 20% profit. Find the selling price.

  • A. 2066
  • B. 2061
  • C. 2064 ✓
  • D. 2062
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+20)/100 = 1720 x 120/100 = 2064.
Q25 Medium

If Cost Price = Rs. 1385 and Selling Price = Rs. 1962, what is the profit amount?

  • A. 577 ✓
  • B. 537
  • C. 597
  • D. 557
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1962 - 1385 = 577.
Q26 Medium

An item is sold for Rs. 551 at a loss of 5%. Find its cost price.

  • A. 520
  • B. 490
  • C. 580 ✓
  • D. 640
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100-5)/100. So CP = SP x 100/(100-5) = 580.
Q27 Medium

A product costs Rs. 720 and is sold at 10% profit. Find the selling price.

  • A. 789
  • B. 794
  • C. 792 ✓
  • D. 790
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+10)/100 = 720 x 110/100 = 792.
Q28 Medium

If Cost Price = Rs. 1179 and Selling Price = Rs. 1244, what is the profit amount?

  • A. 85
  • B. 25
  • C. 65 ✓
  • D. 45
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1244 - 1179 = 65.
Q29 Medium

A product costs Rs. 1640 and is sold at 5% profit. Find the selling price.

  • A. 1724
  • B. 1722 ✓
  • C. 1720
  • D. 1719
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. SP = CP x (100+5)/100 = 1640 x 105/100 = 1722.
Q30 Medium

If Cost Price = Rs. 1140 and Selling Price = Rs. 1707, what is the profit amount?

  • A. 547
  • B. 567 ✓
  • C. 587
  • D. 527
Explanation: Profit or loss is always calculated on the Cost Price (CP). To find the Selling Price (SP) when profit% is given: SP = CP × (100 + Profit%) ÷ 100. For loss: SP = CP × (100 - Loss%) ÷ 100. Profit = SP - CP = 1707 - 1140 = 567.

Key Takeaways

  • Profit % and Loss % are ALWAYS calculated on Cost Price, never Selling Price.
  • For profit: SP = CP × (100 + Profit%)/100. For loss: SP = CP × (100 - Loss%)/100.
  • Discount % is calculated on Marked Price (MP), not Cost Price.
  • In successive discount problems, apply discounts one after another — do not add them.
  • If profit and loss percentages are equal, there is always a net loss of (P²/100)%.

Frequently Asked Questions

What is the formula for profit percentage?

Profit % = (Profit ÷ Cost Price) × 100, where Profit = Selling Price - Cost Price. Always use CP (not SP) as the base for percentage calculation.

How do I calculate selling price from cost price and profit%?

Selling Price = Cost Price × (100 + Profit%) ÷ 100. For 15% profit: SP = CP × 1.15. For 15% loss: SP = CP × 0.85.

What is successive profit and loss?

When profit or loss percentages are applied one after another, use the net change formula: Net% = a + b + (a × b) ÷ 100. If there's a 10% profit followed by a 20% discount: Net = 10 + (-20) + (10 × -20) ÷ 100 = -12% (net loss of 12%).

What is false weight profit?

When a seller uses false weight (say 900g instead of 1kg), the effective profit % = (Error ÷ Actual) × 100 = ((1000 - 900) ÷ 900) × 100 = 11.11% — this is added to the selling price profit.

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