Profit and Loss
Practice Questions on Profit and Loss
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Q18) A man gains 30% by selling an article at a certain price. If he sells it at half that price then his
profit/loss percent will be: 1) -15% 2) 15% 3) -35% 4) -30% Solution: Say CP = Rs 100 So, SP = Rs 130 As the article is sold for half that price then SP = Rs 65  Hence, option 3. Q19) At what profit percent must an article be sold so that by selling at half that price, there may be a loss of 20%. 1) 60% 2) 40% 3) 20% 4) 120% Solution: Say CP = Rs 100 and y be the SP when the article is sold at some profit. When loss = 20%, then SP = Rs 80 So ATQ, y = 2(80) = Rs 160.  Hence, option 1. Download: Practice Questions on Profit and LossQ20) A fruitseller sells 1/4th of the fruit he has at a profit of 20%, and the remaining at a loss of 16%. Find the net profit/loss percentage?1) 7% loss 2) 11% profit 3) 4% loss 4) Depends upon the total quantity of fruit with the fruitseller Solution: Net profit/loss percent on the overall transaction = (1/4)×20 + (3/4)×(-16) = -7% (-ve sign indicates loss) Hence, option 1. Q21) If selling price is doubled, profit triples. Find the profit percentage? 1) 50% 2) 150% 3) 100% 4) 200% Solution:  Hence, option 3. Q22) A shopkeeper marks up the articles by 160%. If the cost increases by 32% but the selling price remains constant, then what is the percentage change in the profit? 1) -32% 2) -28% 3) -60% 4) -20% Solution:  Hence, option 4. Q23) Dinesh purchased some lemons. He purchased 3 lemons for Rs 2. He sold all the lemons and earned 25% profit. At what rate did he sell all the lemons? 1) 5 for Rs.4 2) 7 for Rs.8 3) 4 for Rs.3 4) 6 for Rs.5 Solution: CP = 3 lemons for Rs 2 SP = 3 lemons for Rs 2.5 (25% profit) SP = 6 lemons for Rs 5 Hence, option 4. Q24) Dinesh purchased some lemons. He sold all the lemons. He sold 8 lemons for Rs 7 and earned 40% profit. In order to obtain 50% profit what should be the selling rate? 1) 15 for Rs 13 2) 16 for Rs 15 3) 15 for Rs 16 4) 17 for Rs 16 Solution: SP = 8 lemons for Rs 7 At 40% profit, SP = 1.4CP CP = SP/1.4 = 7/1.4 = 5 CP = 8 lemons for Rs 5 For 50% profit, SP = 1.5CP = 1.5×5 = 7.5 SP = 8 lemons for Rs 7.5 i.e. 16 lemons for Rs 15 Hence, option 2. Q25) A shopkeeper marks his goods 30% above the cost price but allows 30% discount for cash payment. If he sells the article for Rs. 2730, find the cost price. 1) Rs 3500 2) Rs 3000 3) Rs 2950 4) Rs 2800 Solution: Let CP = 100 MP = 130 SP = 91 According to the question, SP = 2730 So, CP = 100×2730/91 = Rs 3000 Hence, option 2. |