Profit and Loss
Practice Questions on Profit and Loss
Q1) A shopkeeper purchased 55 Kg of potatoes for Rs 330 and sold the entire lot at the rate of Rs 6.5 per kg.
What is the profit percent of the shopkeeper?
1) 7.69%
2) 8.33%
3) 6.66%
4) 6.25%
Solution: CP of 1 Kg = (330/55) = Rs 6
SP of 1 Kg = Rs 6.5
Profit percent = (0.5/6)×100% = 8.33%
Hence, option 2.
Q2) By selling an article for Rs 30 a man loses 1/16th of what it cost him. Then the cost price of the article is
1) Rs 28
2) Rs 32
3) Rs 34
4) None of these
Solution: A.T.Q. SP = (15/16)×CP
On solving, CP = Rs 32
Hence, option 2.
Q3) 50 oranges are bought for Rs 175 and sold at the rate of Rs 48 per dozen. Find the profit or loss (in %)
1) 14.28%
2) 7.14%
3) -7.14%
4) -14.28%
Solution: CP of 1 orange = (175/50) = Rs 3.5
SP of 1 orange = (48/12) = Rs 4
Profit percent = (0.5/3.5)×100% = 14.28%
Hence, option 1.
Download: Practice Questions on Profit and LossQ4) A man sells a cycle for Rs 1485 at a loss of 10%. What is the loss incurred by the man. 1) Rs 148.5 2) Rs 163 3) Rs 180 4) Rs 165 Solution:
Hence, option 4.
Q5) By selling an article for Rs 100 a man gains Rs 10. Then his gain % is
1) 9.09%
2) 10%
3) 11.11%
4) 8.33%
Solution: Hence, option 3. Q6) A gold braclet is sold for Rs 14500 at a loss of 20%. What is the cost price of the gold braclet? 1) 18125 2) 17400 3) 15225 4) 16800 Solution: SP = 0.8 CP CP = 14500/0.8 = 18125. Hence, option 1. Q7) If the cost price is 95% of the selling price, what is the profit percent? 1) 4 2) 4.75 3) 5 4) 5.26 Solution: Say SP = 100, then CP = 95 Profit = SP - CP = 100 - 95 = 5 Profit percent = (5/95)×100% = 5.26% Hence, option 1. Q8) A man buys 2 horses for Rs 1550. He sells one at a loss of 23% and the other at a gain of 27%. On the whole transaction he neither gains nor loses. What does each horse cost? 1) Rs 807, Rs 743 2) Rs 817, Rs 733 3) Rs 827, Rs 723 4) Rs 837, Rs 713 Solution: CP of horses be x, y such x + y = 1550 SP = 0.77x + 1.27y On the whole transaction he neither gains nor loses so, SP = CP 0.77x + 1.27y = x + y 0.27 y = 0.23x x/y = 27/23 So x = 
x = 837
y = 1550 - x = 713Hence, option 1. Q9) A person sells his table at a profit of 25% and the chair at a loss of 20%, but on the whole transaction he gains Rs.18. on the other hand if he sells the table at a loss of 20% and the chair at a gain of 25%, then he neither gains nor loses. Find the cost price of the table and the chair. 1) 200,160 2) 160,200 3) 250,180 4) 210,170 Solution: CP of chair = c, CP of table = t CP = c + t SP1 = 0.8c + 1.25t Profit = Rs 18 0.8c + 1.25t = c + t + 18 0.25t - 0.2c = 18 Equation 1 SP2 = 1.25c + 0.8t Profit = Rs 0 i.e. SP = CP 1.25c + 0.8t = c + t 0.25c - 0.2t = 0 i.e. 5c = 4t Equation 2 On solving equation 1, 2 t = 200, c = 160 Hence, option 1. |