Profit and Loss Practice Question and Answer

Q:

Mohan, a shopkeeper, bought a shirt of list price ₹225 at a discount of 20%. If he wants a profit of 30% then he should sell the shirt for:

4700 0

  • 1
    ₹230
    Correct
    Wrong
  • 2
    ₹234
    Correct
    Wrong
  • 3
    ₹256
    Correct
    Wrong
  • 4
    ₹286
    Correct
    Wrong
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Answer : 2. "₹234"
Explanation :

Mohan CP =225*20/100=45
so that CP =225-45=180
Selling price when he wants 30% profit=180*130/100=234

Q:

By selling a table for Rs. 350 instead of Rs. 400, loss percent increases by 5%. The cost price of table is : 

4655 0

  • 1
    Rs. 1, 050
    Correct
    Wrong
  • 2
    Rs. 417.50
    Correct
    Wrong
  • 3
    Rs. 435
    Correct
    Wrong
  • 4
    Rs. 1,000
    Correct
    Wrong
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Answer : 4. "Rs. 1,000"

Q: A milkman has 20 liters of milk. If he mixes 5 liters of water, which is freely available, in 20 liters of pure milk. If the cost of pure milk is Rs. 18 per litre, then the profit of the milkman, when he sells all the mixture at  cost price, is: 4503 6

  • 1
    20%
    Correct
    Wrong
  • 2
    25%
    Correct
    Wrong
  • 3
    33.33%
    Correct
    Wrong
  • 4
    18%
    Correct
    Wrong
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Answer : 2. "25%"
Explanation :

Answer: B) 25% Explanation: When the water is freely available and all the water is sold at the price of the milk, then the water gives the profit on the cost of 20 litres of milk.     Since,    the profit % = ProfitCostPricex100 Therefore, profit percentage = 520x100  = 25%

Q: A shopkeeper sells a certain object in Rs 2520 after giving two consecutive discounts of 10% and 30 %. Find the marked price of the object. 3892 0

  • 1
    Rs 6000
    Correct
    Wrong
  • 2
    Rs 4000
    Correct
    Wrong
  • 3
    Rs 5450
    Correct
    Wrong
  • 4
    Rs 6800
    Correct
    Wrong
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Answer : 2. "Rs 4000"

Q: On selling oranges 5 for Rs.1. One gets 20% profit. How many orange were purchased for Rs.1. 3817 0

  • 1
    3
    Correct
    Wrong
  • 2
    7
    Correct
    Wrong
  • 3
    4
    Correct
    Wrong
  • 4
    6
    Correct
    Wrong
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Answer : 4. "6"

Q:

A man sells a table at 12 % loss and a book at 19% profit then he earns Rs. 160 as profit. But if he sells the table at 12 % profit and the book at 16% loss then he bears a loss of Rs. 40. Find the price of one book?

3745 0

  • 1
    Rs. 4200
    Correct
    Wrong
  • 2
    Rs. 4100
    Correct
    Wrong
  • 3
    Rs. 4300
    Correct
    Wrong
  • 4
    Rs. 4000
    Correct
    Wrong
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Answer : 4. "Rs. 4000"

Q: If a dealer wants to earn 40% profit on an article after offering 30% discount, by what percent should be increase his marked price to arrive at the label price? 3702 0

  • 1
    50%
    Correct
    Wrong
  • 2
    100%
    Correct
    Wrong
  • 3
    200%
    Correct
    Wrong
  • 4
    60%
    Correct
    Wrong
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Answer : 2. "100%"

Q:

Rekha bought a scooter for Rs 20,000 and sold it for Rs 22,000. What is the profit percentage?

3699 0

  • 1
    15 %
    Correct
    Wrong
  • 2
    12 %
    Correct
    Wrong
  • 3
    20 %
    Correct
    Wrong
  • 4
    10 %
    Correct
    Wrong
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Answer : 4. "10 % "

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