Profit and Loss Questions Practice Question and Answer

Q:

Last year Mr. A bought two paintings. This year he sold them for Rs. 20,000 each. On one, he made a 25 % profit and of the other he had a 25 % loss. Then his net profit or loss is 

1300 0

  • 1
    He earned more than Rs. 2000
    Correct
    Wrong
  • 2
    He earned less than Rs . 2000
    Correct
    Wrong
  • 3
    He lost more than Rs. 2000
    Correct
    Wrong
  • 4
    He lost more than Rs. 2000
    Correct
    Wrong
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Answer : 3. "He lost more than Rs. 2000 "

Q:

A & B jointly made a profit of Rs. 1650 and they decided to share it such that 1/3 of A's profit is equal to 2/5 of B's profit. Then profit of B is 

1011 0

  • 1
    Rs. 850
    Correct
    Wrong
  • 2
    Rs. 800
    Correct
    Wrong
  • 3
    Rs. 700
    Correct
    Wrong
  • 4
    Rs. 750
    Correct
    Wrong
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Answer : 4. "Rs. 750"

Q:

A merchant has 1000 kg sugar, some part of which he sells at 8 % profit and the rest at 18 % profit. He gains 14 % on the whole. The quantity sold at 8 % profit is: 

1114 0

  • 1
    400 kg
    Correct
    Wrong
  • 2
    560 kg
    Correct
    Wrong
  • 3
    600 kg
    Correct
    Wrong
  • 4
    640 kg
    Correct
    Wrong
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Answer : 1. "400 kg"

Q:

A shopkeeper sold his goods at half the list price and thus lost 20 %. If he had sold on the listed price, his gain percentage would be 

1247 0

  • 1
    20%
    Correct
    Wrong
  • 2
    60%
    Correct
    Wrong
  • 3
    35%
    Correct
    Wrong
  • 4
    72%
    Correct
    Wrong
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Answer : 2. "60% "

Q:

A manufacturer fixes his selling price at $$33{1\over3}\% $$ over the cost of production. If the cost of production goes up by 12 % and manufacturer raises his selling price by 10%, his percentage profit is 

846 0

  • 1
    35%
    Correct
    Wrong
  • 2
    $$28{3\over8}\%$$
    Correct
    Wrong
  • 3
    $$36{5\over9}\%$$
    Correct
    Wrong
  • 4
    $$30{20\over21}\%$$
    Correct
    Wrong
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Answer : 4. "$$30{20\over21}\%$$"

Q:

An article is sold at a profit of 25 %. If the selling price is doubled, the profit % will be: 

838 0

  • 1
    100%
    Correct
    Wrong
  • 2
    50%
    Correct
    Wrong
  • 3
    200%
    Correct
    Wrong
  • 4
    150%
    Correct
    Wrong
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Answer : 4. "150% "

Q:

A man sells an article at 5 % above its cost price. If he had bought it at 5 % less than what he had paid for it and sold it at Rs. 2 less, he would have gained 10 %. The cost price of the article is 

773 0

  • 1
    Rs. 400
    Correct
    Wrong
  • 2
    Rs. 100
    Correct
    Wrong
  • 3
    Rs. 200
    Correct
    Wrong
  • 4
    Rs. 300
    Correct
    Wrong
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Answer : 1. "Rs. 400"

Q:

There would be a 10 % loss. if rice is sold at ₹ 54 per kg. To earn a profit of 20 %, the price of rice per kg will be 

753 0

  • 1
    ₹ 63
    Correct
    Wrong
  • 2
    ₹ 65
    Correct
    Wrong
  • 3
    ₹ 72
    Correct
    Wrong
  • 4
    ₹ 70
    Correct
    Wrong
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Answer : 3. "₹ 72 "

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