About this quiz
50 questions covering every section of the note on cost price, selling price, profit and loss percent, finding CP or SP, discount, successive discounts, equal selling prices and VAT.
This Lok Sewa practice set has 50 multiple-choice questions (Subject: Maths and IQ · For: Kharidar, Nayab Subba, Section Officer · Level: Medium). Take the quiz above first; after that, use the study list below to revise every question with its correct answer and a short explanation.
Study list: all 50 questions with answers and explanations
On which price is a discount always calculated?
- A) Cost price
- B) Marked price ✔
- C) Selling price
- D) Price after VAT
Why: Discount is the reduction given on the marked (list) price, so the discount percent uses MP as the base.
A trader buys a TV for Rs 18,000, pays Rs 500 for transport and Rs 1,500 for repair, and sells it for Rs 22,000. What is his profit?
- A) Rs 4,000
- B) Rs 3,500
- C) Rs 2,000 ✔
- D) Rs 2,500
Why: CP = 18,000 + 500 + 1,500 = 20,000; profit = 22,000 − 20,000 = Rs 2,000.
An article bought for Rs 1,600 is sold for Rs 2,000. What is the profit percent?
- A) 25% ✔
- B) 20%
- C) 40%
- D) 24%
Why: Profit = 400; 400 / 1,600 × 100 = 25%. Profit percent is on CP, not SP.
A cupboard bought for Rs 2,500 is sold for Rs 2,150. What is the loss percent?
- A) 15%
- B) 35%
- C) 12%
- D) 14% ✔
Why: Loss = 350; 350 / 2,500 × 100 = 14%.
The cost price of 15 notebooks is equal to the selling price of 12 notebooks. What is the profit percent?
- A) 20%
- B) 25% ✔
- C) 30%
- D) 3%
Why: Profit = (15 − 12)/12 × 100 = 3/12 × 100 = 25%.
A shopkeeper buys a fan for Rs 1,250 and wants a profit of 12%. At what price should he sell it?
- A) Rs 1,400 ✔
- B) Rs 1,262
- C) Rs 1,350
- D) Rs 1,100
Why: SP = 1,250 × 112/100 = Rs 1,400.
A table bought for Rs 3,200 is sold at a loss of 15%. What is the selling price?
- A) Rs 2,880
- B) Rs 3,680
- C) Rs 2,720 ✔
- D) Rs 2,780
Why: SP = 3,200 × 85/100 = Rs 2,720.
A mobile set is sold for Rs 2,875 at a profit of 15%. What was its cost price?
- A) Rs 2,443.75
- B) Rs 2,600
- C) Rs 2,750
- D) Rs 2,500 ✔
Why: CP = 2,875 × 100/115 = Rs 2,500. (Taking 15% off the SP gives the wrong answer.)
A chair is sold for Rs 1,710 at a loss of 10%. What was its cost price?
- A) Rs 1,900 ✔
- B) Rs 1,881
- C) Rs 1,800
- D) Rs 1,539
Why: CP = 1,710 × 100/90 = Rs 1,900.
A jacket is marked Rs 3,600 and sold at a discount of 15%. What is the selling price?
- A) Rs 3,240
- B) Rs 3,060 ✔
- C) Rs 540
- D) Rs 3,100
Why: Discount = 15% of 3,600 = 540; SP = 3,600 − 540 = Rs 3,060.
A rice cooker marked Rs 2,400 is sold for Rs 2,040. What is the discount percent?
- A) 18%
- B) 12%
- C) 15% ✔
- D) 17.6%
Why: Discount = 360; 360 / 2,400 × 100 = 15%. Discount percent is on MP.
A trader marks his goods 25% above cost price and allows a discount of 10%. What is his profit percent?
- A) 15%
- B) 10%
- C) 12%
- D) 12.5% ✔
Why: Net = 25 − 10 − (25 × 10)/100 = 15 − 2.5 = 12.5% profit. Check: 100 to 125 to 112.50.
Goods are marked 20% above cost price and then sold at a 20% discount. What is the result?
- A) 4% loss ✔
- B) No profit, no loss
- C) 4% profit
- D) 2% loss
Why: Net = 20 − 20 − (20 × 20)/100 = −4, a loss of 4%. Check: 100 to 120 to 96.
An article costs Rs 2,000. The seller wants a profit of 20% even after giving a 20% discount. What price should he mark?
- A) Rs 2,880
- B) Rs 2,800
- C) Rs 3,000 ✔
- D) Rs 3,200
Why: SP = 2,000 × 1.2 = 2,400; MP × 0.8 = 2,400, so MP = 2,400 × 100/80 = Rs 3,000.
Successive discounts of 25% and 10% are equal to a single discount of:
- A) 35%
- B) 32.5% ✔
- C) 32%
- D) 30%
Why: 25 + 10 − (25 × 10)/100 = 35 − 2.5 = 32.5%.
A carpet marked Rs 6,000 is sold after successive discounts of 10% and 5%. What is the selling price?
- A) Rs 5,100
- B) Rs 5,160
- C) Rs 5,400
- D) Rs 5,130 ✔
Why: 6,000 × 0.9 = 5,400; 5,400 × 0.95 = Rs 5,130.
Two successive discounts of 15% each are equal to a single discount of:
- A) 30%
- B) 27.5%
- C) 27.75% ✔
- D) 28.25%
Why: 15 + 15 − (15 × 15)/100 = 30 − 2.25 = 27.75%.
Two articles are each sold for Rs 1,200, one at 20% profit and the other at 20% loss. What is the overall result?
- A) 4% loss ✔
- B) No profit, no loss
- C) 4% profit
- D) 2% loss
Why: With the same SP and equal profit and loss percent, there is always a loss of r²/100 = 400/100 = 4%.
Two phones are sold for Rs 4,800 each, one at 20% profit and the other at 20% loss. What is the total loss in rupees?
- A) Nothing
- B) Rs 200
- C) Rs 960
- D) Rs 400 ✔
Why: CPs are 4,800 × 100/120 = 4,000 and 4,800 × 100/80 = 6,000. Total CP 10,000, total SP 9,600, loss Rs 400.
At 13 percent VAT, how much does a customer pay for an item priced Rs 5,000 before VAT?
- A) Rs 5,130
- B) Rs 5,650 ✔
- C) Rs 5,600
- D) Rs 6,300
Why: VAT = 5,000 × 13/100 = 650; amount = 5,000 + 650 = Rs 5,650.
A bill of Rs 6,780 includes 13 percent VAT. What was the price before VAT?
- A) Rs 5,898.60
- B) Rs 5,900
- C) Rs 6,000 ✔
- D) Rs 6,767
Why: Price = 6,780 × 100/113 = Rs 6,000. (Taking 13% off the bill gives the wrong answer.)
A bill of Rs 2,260 includes 13 percent VAT. How much of the bill is VAT?
- A) Rs 260 ✔
- B) Rs 293.80
- C) Rs 226
- D) Rs 300
Why: Price before VAT = 2,260 × 100/113 = 2,000, so VAT = 2,260 − 2,000 = Rs 260.
A heater is marked Rs 5,000. A discount of 20% is given and then 13 percent VAT is added. How much does the customer pay?
- A) Rs 4,650
- B) Rs 4,520 ✔
- C) Rs 5,650
- D) Rs 4,000
Why: After discount 5,000 × 0.8 = 4,000; with VAT 4,000 × 1.13 = Rs 4,520.
In a bill that has both a discount and VAT, VAT is normally calculated on which amount?
- A) The cost price
- B) The marked price
- C) The discount amount
- D) The price after discount ✔
Why: VAT is added after the discount, so it is worked out on the reduced price.
CP Rs 500, SP Rs 600. Profit percent:
- A) 20% ✔
- B) 16.67%
- C) 10%
- D) 25%
Why: 100/500.
CP Rs 800, SP Rs 720. Loss percent:
- A) 10% ✔
- B) 11.1%
- C) 8%
- D) 12%
Why: 80/800.
CP Rs 1,200 and profit 25%. SP:
- A) Rs 1,500 ✔
- B) Rs 1,450
- C) Rs 1,600
- D) Rs 1,300
Why: 1,200 × 1.25.
CP Rs 2,000 and loss 15%. SP:
- A) Rs 1,700 ✔
- B) Rs 1,850
- C) Rs 1,750
- D) Rs 1,600
Why: 2,000 × 0.85.
SP Rs 1,320 gives 10% profit. CP:
- A) Rs 1,200 ✔
- B) Rs 1,188
- C) Rs 1,452
- D) Rs 1,100
Why: 1,320 ÷ 1.1.
SP Rs 900 gives 10% loss. CP:
- A) Rs 1,000 ✔
- B) Rs 990
- C) Rs 810
- D) Rs 1,100
Why: 900 ÷ 0.9.
Profit or loss percent is calculated on the:
- A) Cost price ✔
- B) Selling price
- C) Marked price
- D) List price
Why: Always on CP.
Marked price Rs 2,000 with 10% discount. SP:
- A) Rs 1,800 ✔
- B) Rs 1,900
- C) Rs 1,750
- D) Rs 2,200
Why: 2,000 × 0.9.
Marked price Rs 5,000 and SP Rs 4,250. Discount percent:
- A) 15% ✔
- B) 17.6%
- C) 12%
- D) 20%
Why: 750/5,000.
The CP of 20 items equals the SP of 16 items. Profit percent:
- A) 25% ✔
- B) 20%
- C) 16%
- D) 4%
Why: 4/16.
The CP of 10 items equals the SP of 12 items. Loss percent:
- A) 16.67% ✔
- B) 20%
- C) 12%
- D) 10%
Why: 2/12.
12 oranges bought for Rs 60 and 10 sold for Rs 60. Profit percent:
- A) 20% ✔
- B) 16.67%
- C) 10%
- D) 25%
Why: CP 5, SP 6.
Selling at Rs 450 gives 10% loss. SP for 20% profit:
- A) Rs 600 ✔
- B) Rs 540
- C) Rs 560
- D) Rs 620
Why: CP 500.
A shopkeeper uses a 900 g weight for 1 kg and sells at cost price. His gain:
- A) 11.11% ✔
- B) 10%
- C) 9%
- D) 12.5%
Why: 100/900.
Successive discounts of 20% and 10% equal a single discount of:
- A) 28% ✔
- B) 30%
- C) 25%
- D) 32%
Why: 0.8 × 0.9 = 0.72.
Goods marked 25% above CP are sold at 10% discount. Profit percent:
- A) 12.5% ✔
- B) 15%
- C) 10%
- D) 13.5%
Why: 1.25 × 0.9 = 1.125.
An item sold at 10% profit would give 15% profit if sold for Rs 50 more. CP:
- A) Rs 1,000 ✔
- B) Rs 500
- C) Rs 1,500
- D) Rs 750
Why: 5% of CP = 50.
Bought for Rs 4,000, Rs 500 spent on repair, sold for Rs 5,400. Profit percent:
- A) 20% ✔
- B) 35%
- C) 25%
- D) 15%
Why: 900/4,500.
If CP equals SP, there is:
- A) No profit, no loss ✔
- B) Profit
- C) Loss
- D) Discount
Why: Break-even.
A bill of Rs 1,130 includes 13% VAT. Price before VAT:
- A) Rs 1,000 ✔
- B) Rs 983
- C) Rs 1,017
- D) Rs 1,100
Why: 1,130 ÷ 1.13.
13% VAT on Rs 2,500 is:
- A) Rs 325 ✔
- B) Rs 250
- C) Rs 300
- D) Rs 375
Why: 2,500 × 0.13.
Transport and repair expenses are added to the:
- A) Cost price ✔
- B) Selling price
- C) Marked price
- D) Discount
Why: Overheads.
Two items are each sold for Rs 990, one at 10% gain and one at 10% loss. Overall:
- A) 1% loss ✔
- B) No profit no loss
- C) 1% gain
- D) 2% loss
Why: Loss% = 10²/100.
'Buy 4, get 1 free' equals a discount of:
- A) 20% ✔
- B) 25%
- C) 10%
- D) 15%
Why: Pay for 4, get 5.
If doubling the SP triples the profit, the profit percent is:
- A) 100% ✔
- B) 50%
- C) 200%
- D) 66.67%
Why: SP = 2 × CP.
Discount = Marked price − ?
- A) Selling price ✔
- B) Cost price
- C) Profit
- D) VAT
Why: MP − SP.