Profit and Loss Practice Question and Answer

Q:

A shopkeeper sold an item at a profit of 20 %. If he reduces the price of the item by Rs. 900, he incurs a loss of 10 %. What is the cost price of the item?

1825 0

  • 1
    Rs. 4900
    Correct
    Wrong
  • 2
    Rs. 4200
    Correct
    Wrong
  • 3
    Rs. 3500
    Correct
    Wrong
  • 4
    Rs. 3000
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 4. "Rs. 3000"

Q:

A cloth merchant sold half of his cloth at 20 % profit, half of the remaining cloth at 20 % loss and the rest was sold at its cost price. In the total transaction, his gain or loss will be 

1824 0

  • 1
    5% profit
    Correct
    Wrong
  • 2
    Neither loss nor gain
    Correct
    Wrong
  • 3
    5% loss
    Correct
    Wrong
  • 4
    10%
    Correct
    Wrong
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Answer : 1. "5% profit "

Q:

The cost price of an article is Rs x. It is marked up by 200%. It is sold at Rs. 540 after giving 25% discount. What is the value of x (in Rs)? 

1809 1

  • 1
    300
    Correct
    Wrong
  • 2
    240
    Correct
    Wrong
  • 3
    360
    Correct
    Wrong
  • 4
    250
    Correct
    Wrong
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Answer : 2. "240 "

Q:

A trader bought 10 kg of apples for Rs. 405 out of which 1 kg of apples were found to be rotten. If he wishes to make a profit of 10 % at what rate should he sell the remaining apples per kg? 

1808 0

  • 1
    49.5
    Correct
    Wrong
  • 2
    48
    Correct
    Wrong
  • 3
    46
    Correct
    Wrong
  • 4
    47
    Correct
    Wrong
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Answer : 1. " 49.5 "

Q:

If 5500 copies are published and the transportation cost on them amounts to Rs. 82,500, then what should be the selling price of the book so that the publisher can earn a profit of 25%?

1768 0

  • 1
    Rs. 187.50
    Correct
    Wrong
  • 2
    Rs. 191.50
    Correct
    Wrong
  • 3
    Rs. 175
    Correct
    Wrong
  • 4
    Rs. 180
    Correct
    Wrong
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Answer : 1. "Rs. 187.50"
Explanation :

For the publisher to earn a profit of 25% S.P = 125% of C.P.
Also Transportation Cost = 10% of C.P.
Let the S.P of 5500 books be Rs. x.
Then, 10 : 125 = 82500 : x ⇒ x = Rs.  = Rs. 1031250.
⸫ S.P. of one book = Rs. = Rs. 187.50. 


Q:

A shopkeeper marked an article 75% above the cost price and sold it after a discount of 50%. Find the cost price of the article if he had a loss of Rs. 156.

1715 0

  • 1
    Rs. 1200
    Correct
    Wrong
  • 2
    Rs. 1240
    Correct
    Wrong
  • 3
    Rs. 1250
    Correct
    Wrong
  • 4
    Rs. 1248
    Correct
    Wrong
  • 5
    Rs. 1270
    Correct
    Wrong
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Answer : 4. "Rs. 1248"

Q:

A dishonest dealer marks up the price of an article by 15% and gave a discount of 20%. He also uses 900gm instead of 1000gm. Find his profit percent.

1712 0

  • 1
    $$ { 23\over8}$$
    Correct
    Wrong
  • 2
    $$ { 20\over9}$$
    Correct
    Wrong
  • 3
    10
    Correct
    Wrong
  • 4
    $$ { 15\over7}$$
    Correct
    Wrong
  • 5
    20
    Correct
    Wrong
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Answer : 2. "$$ { 20\over9}$$"

Q:

The price of 6 pencils is Rs. 30 and that of 12 pens is Rs. 120. What is the average price of 50 pencils and 50 pens?

1708 0

  • 1
    6.75
    Correct
    Wrong
  • 2
    7.5
    Correct
    Wrong
  • 3
    5
    Correct
    Wrong
  • 4
    5.75
    Correct
    Wrong
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Answer : 2. "7.5"

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