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Profit and Loss Practice Questions section contain questions based on the concepts that will appear in the examinations. This section is specially written keeping in view the mindset of the candidate and the level of various competitive exams. The difference between a successful candidate and an unsuccessful candidate is the strategy. Extensive practice is the most important facet of any successful strategy. So here we have the Profit and Loss Practice Questions section that will help you strategize and test your concepts.
1. If selling price is doubled, the profit triples. Find the profit percent ?
a) 100%
b) 200%
c) 300%
d) 400%
e) None of these
2. In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what percentage of the selling price is the profit?
a) 30%
b) 70%
c) 100%
d) 250%
e) None of these
3. A vendor bought toffees at 6 for a rupee. How many for a rupee must he sell to gain 20%?
a) 3
b) 4
c) 5
d) 6
e) None of these
4. The percentage profit earned by selling an article for Rs. 1920 is equal to the percentage loss incurred by selling the same article for Rs. 1280. At what price should the article be sold to make 25% profit?
a) Rs. 2000
b) Rs. 2200
c) Rs. 2400
d) Rs. 2600
e) Data inadequate
5. A shopkeeper expects a gain of 22.5% on his cost price. If in a week, his sale was of Rs. 392, what was his profit?
a) Rs. 18.20
b) Rs. 70
c) Rs. 72
d) Rs. 88.25
e) None of these
6. A shopkeeper cheats to the extent of 10% while buying and selling, by using false weights. His total gain is.
a) 20%
b) 21%
c) 22%
d) 23%
e) None of these
7. Sam purchased 20 dozens of toys at the rate of Rs. 375 per dozen. He sold each one of them at the rate of Rs. 33. What was his percentage profit?
a) 3.5
b) 4.5
c) 5.6
d) 6.5
e) None of these
8. A milkman purchases the milk at Rs. x per litre and sells it at Rs. 2x per litre still he mixes 2 litres water with every 6 litres of pure milk. What is the profit percentage?
a) 116%
b) 166.66%
c) 60%
d) 100%
e) None of these
9. When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?
a) Rs. 21,000
b) Rs. 22,500
c) Rs. 25,300
d) Rs. 25,800.
e) None of these
10. A trader mixes 26 kg of rice at Rs. 20 per kg with 30 kg of rice of other variety at Rs. 36 per kg and sells the mixture at Rs. 30 per kg. His profit percent is:
a) No profit, no loss
b) 5%
c) 8%
d) 10%
e) None of these
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Answers:
Q.1. a). 100%
Q.2. b). 70%
Q.3. c). 5
Q.4. a) Rs. 2000
Q.5. c) Rs. 72
Q.6. b) 21%
Q.7. c) 5.6
Q.8. b) 166.66%
Q.9. c) Rs. 25,300
Q.10. b) 5%