Profit and Loss questions and answers

20 questions in 2 online tests, each with its answer and a worked solution.

Start Test 1

Profit and Loss: key points

Profit is the amount by which the selling price exceeds the cost price; loss is the amount by which it falls short. Both are expressed as a percentage of the cost price.

  • Profit = SP − CP and Loss = CP − SP.
  • SP = CP × (100 + profit %) / 100, or CP × (100 − loss %) / 100.
  • CP = SP × 100 / (100 + profit %).
  • Discount is given on the marked price: SP = MP × (100 − discount %) / 100.

How to practise Profit and Loss

Start with the key points, then take one Profit and Loss test without rushing. Review every explanation, note the steps you missed and repeat the topic against the clock. APTITUDE TESTER has 20 questions in 2 tests for this topic.

  • Read the method before attempting a timed test.
  • Record mistakes by type: concept, calculation or time management.
  • Return to the hardest questions after a day and try them again.

Continue with another Quantitative topic when your accuracy is steady.

Profit and Loss online tests

Sample Profit and Loss questions

  1. 1. An article bought for Rs. 1,100 is sold for Rs. 1,232. Find the profit percent.
    1. 7%
    2. 17%
    3. 12%
    4. 9.5%

    Reference: q-a3f7317a-80 · Report this question

    Show answer and solution

    Answer: C. 12%

    Profit = Rs. 132. Profit % = 132 / 1,100 × 100 = 12%.
  2. 2. A trader sells an article that cost Rs. 1,500 at a loss of 20%. Find the selling price.
    1. Rs. 1,110
    2. Rs. 1,200
    3. Rs. 1,800
    4. Rs. 1,290

    Reference: q-6cbc608b-88 · Report this question

    Show answer and solution

    Answer: B. Rs. 1,200

    SP = CP × (100 − 20) / 100 = 1,500 × 80 / 100 = Rs. 1,200.
  3. 3. By selling an article for Rs. 3,000, a shopkeeper gains 25%. Find the cost price.
    1. Rs. 2,400
    2. Rs. 2,250
    3. Rs. 2,040
    4. Rs. 2,520

    Reference: q-b396017d-82 · Report this question

    Show answer and solution

    Answer: A. Rs. 2,400

    CP = SP × 100 / (100 + 25) = 3,000 × 100 / 125 = Rs. 2,400.

See all the questions of Test 1

Profit and Loss: questions people ask

How many Profit and Loss questions are there?

There are 20 Profit and Loss questions in 2 tests. Each test has its own page that lists the questions with their answers and solutions.

How long does a Profit and Loss test take?

A test of 10 questions has a time limit of 15 minutes, which is 90 seconds a question.

Is there negative marking?

Rules vary by set. The rules screen shows the time limit, marks, any wrong-answer penalty and calculator permission before you begin. Feedback mode has no time limit or negative marking.

Can I practise Profit and Loss without a time limit?

Yes. Choose practice mode: there is no clock, and the answer and solution appear as soon as you select an option.