Profit and Loss: Test 1

10 questions · 15 minutes · scoring and calculator rules shown before you begin

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Profit and Loss Test 1: questions and answers

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  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

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    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

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    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

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    Answer: A. Rs. 2,400

    CP = SP × 100 / (100 + 25) = 3,000 × 100 / 125 = Rs. 2,400.
  4. 4. The marked price of an article is Rs. 2,900. If a discount of 5% is allowed, find the selling price.
    1. Rs. 2,697
    2. Rs. 2,755
    3. Rs. 2,895
    4. Rs. 2,639

    Reference: q-d3b5f8de-101 · Report this question

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    Answer: B. Rs. 2,755

    Discount = 5% of 2,900 = Rs. 145. SP = Rs. 2,755.
  5. 5. The cost price of 7 articles is equal to the selling price of 5 articles. Find the profit percent.
    1. 45%
    2. 40%
    3. 32.5%
    4. 28.57%

    Reference: q-e8b2285e-99 · Report this question

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    Answer: B. 40%

    Let the CP of each article be Re 1. SP of 5 articles = Rs. 7, CP of 5 articles = Rs. 5. Profit % = 2 / 5 × 100 = 40%.
  6. 6. An article bought for Rs. 600 is sold for Rs. 672. Find the profit percent.
    1. 7%
    2. 14.5%
    3. 17%
    4. 12%

    Reference: q-c9178a5f-76 · Report this question

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    Answer: D. 12%

    Profit = Rs. 72. Profit % = 72 / 600 × 100 = 12%.
  7. 7. A trader sells an article that cost Rs. 400 at a loss of 20%. Find the selling price.
    1. Rs. 296
    2. Rs. 480
    3. Rs. 328
    4. Rs. 320

    Reference: q-619f967f-86 · Report this question

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    Answer: D. Rs. 320

    SP = CP × (100 − 20) / 100 = 400 × 80 / 100 = Rs. 320.
  8. 8. By selling an article for Rs. 1,035, a shopkeeper gains 15%. Find the cost price.
    1. Rs. 900
    2. Rs. 945
    3. Rs. 879.75
    4. Rs. 1,035

    Reference: q-a3367982-82 · Report this question

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    Answer: A. Rs. 900

    CP = SP × 100 / (100 + 15) = 1,035 × 100 / 115 = Rs. 900.
  9. 9. The marked price of an article is Rs. 1,000. If a discount of 20% is allowed, find the selling price.
    1. Rs. 860
    2. Rs. 800
    3. Rs. 980
    4. Rs. 840

    Reference: q-6b47f2a1-102 · Report this question

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    Answer: B. Rs. 800

    Discount = 20% of 1,000 = Rs. 200. SP = Rs. 800.
  10. 10. The cost price of 12 articles is equal to the selling price of 10 articles. Find the profit percent.
    1. 10%
    2. 15%
    3. 20%
    4. 16.67%

    Reference: q-efebcace-101 · Report this question

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    Answer: C. 20%

    Let the CP of each article be Re 1. SP of 10 articles = Rs. 12, CP of 10 articles = Rs. 10. Profit % = 2 / 10 × 100 = 20%.

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