Profit and Loss Practice Question and Answer

Q:

If the cost of production of an article is 2/5 of its marked retail price, If it is sold at 10 % discount then what will be profit ? 

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  • 1
    25%
    Correct
    Wrong
  • 2
    40%
    Correct
    Wrong
  • 3
    50%
    Correct
    Wrong
  • 4
    125%
    Correct
    Wrong
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Answer : 4. "125% "

Q:

If a man purchase 11 articles for Rs.10 and sold all the articles at the rate of 10 for Rs.11, the profit percentage will be.

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  • 1
    10%
    Correct
    Wrong
  • 2
    11%
    Correct
    Wrong
  • 3
    21%
    Correct
    Wrong
  • 4
    100%
    Correct
    Wrong
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Answer : 3. "21% "

Q:

A shopkeeper marked the price of an article by 40% above cost price and gave discount of Rs. 224. On the final amount, he charged 10% tax. In the whole transaction, he earned Rs. 158.6. Find cost price of the article.

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  • 1
    Rs 750
    Correct
    Wrong
  • 2
    Rs 760
    Correct
    Wrong
  • 3
    Rs 744
    Correct
    Wrong
  • 4
    Rs 757
    Correct
    Wrong
  • 5
    Rs 748
    Correct
    Wrong
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Answer : 1. "Rs 750"

Q:

Due to increase in the value of eggs by 20 percent, two eggs started getting less at Rs. 24. The current price per dozen of eggs.

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  • 1
    Rs.25
    Correct
    Wrong
  • 2
    Rs.26.20
    Correct
    Wrong
  • 3
    Rs.27.80
    Correct
    Wrong
  • 4
    Rs.28.80
    Correct
    Wrong
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Answer : 4. "Rs.28.80"

Q:

An article is sold at a loss of 40%. The nominal amount of loss is approximately what percentage of the selling price of the article?

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  • 1
    66.67%
    Correct
    Wrong
  • 2
    38.33%
    Correct
    Wrong
  • 3
    41.33%
    Correct
    Wrong
  • 4
    51.33%
    Correct
    Wrong
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Answer : 1. "66.67%"

Q:

If the profit on selling an article for Rs. 425 is the same as the loss on selling it for Rs. 355, then the cost price of the article is 

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  • 1
    Rs. 390
    Correct
    Wrong
  • 2
    Rs. 380
    Correct
    Wrong
  • 3
    Rs. 400
    Correct
    Wrong
  • 4
    Rs. 440
    Correct
    Wrong
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Answer : 1. "Rs. 390"
Explanation :

Q:

The profit percentage of P and Q is same on selling the articles at Rs. 1800 each but A calculates his profit on the selling price while Q calculates it correctly on the cost price which is equal to 20%. What is the difference in their profits?

1425 0

  • 1
    40
    Correct
    Wrong
  • 2
    50
    Correct
    Wrong
  • 3
    60
    Correct
    Wrong
  • 4
    70
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 3. "60"

Q:

The cost price of an article is Rs. 480. If it is sold at a profit of 12.5 percent, what will be the selling price of the article?

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  • 1
    Rs. 500
    Correct
    Wrong
  • 2
    Rs.560
    Correct
    Wrong
  • 3
    Rs. 540
    Correct
    Wrong
  • 4
    Rs.492.5
    Correct
    Wrong
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Answer : 3. "Rs. 540"

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