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Profit and Loss Questions for Competitive Exams – Test Series – 1


Profit and Loss Questions and Quiz for Banking, IBPS, RRB, RBI, SBI, NABARD examinations. Profit and loss MCQs are important in SSC, UPSC, IBPS and competitive examination and entrance tests. These questions will help to increase your performance in profit and loss section.

1. A man buys a cycle for Rs.1400 and sells it at a loss of 15%. What is the selling price of the cycle?

a) Rs. 1090
b) Rs. 1160
c) Rs. 1190
d) Rs. 1202

2. Peter purchased a machine for Rs. 80,000 and spent Rs. 5000 on repair and Rs. 1000 on transport and sold it with 25% profit. At what price did he sell the machine?

a) Rs. 1,05,100
b) Rs. 1,06,250
c) Rs. 1,07,500
d) Rs. 1,17,500

3. I gain 70 paise on Rs. 70. My gain percent is?

a) 0.1%
b) 1%
c) 7%
d) 10%

4. The cost price of an article is 64% of the marked price. Calculate the gain percent after allowing a discount of 12%.

a) 37.5%
b) 48%
c) 50.5%
d) 52%

5. A trader mixes three varieties of groundnuts costing Rs. 50, Rs. 20 and Rs. 30 per kg in a ratio 2 : 4 : 3 in terms of weight, and sells the mixture at Rs. 33 per kg. What percentage of profit does he make?

a) 8%
b) 9%
c) 10%
d) 11%

6. A vendor loses the selling price of 4 oranges on selling 36 oranges. His loss percent is:

a) 9%
b) 10%
c) 11%
d) 12%
e) None of these

7. The ratio of the cost price and the selling price is 4 : 5. The profit percent is:

a) 10%
b) 20%
c) 25%
d) 30%
e) None of these

8. The cost price of 20 articles is the same as the selling price of x articles. If the profit is 25%, then the value of x is:

a) 15
b) 16
c) 18
d) 25

9. On selling 17 balls at Rs. 720, there is a loss equal to the cost price of 5 balls. The cost price of a ball is:

a) Rs. 45
b) Rs. 50
c) Rs. 55
d) Rs. 60

10. Samant bought a microwave oven and paid 10% less than the original price. He sold it with 30% profit on the price he had paid. What percentage of profit did Samant earn on the original price?

a) 17%
b) 20%
c) 27%
d) 32%

Also Read: Computer Awareness Questions for Competitive Exam: Test Series – 3

Answers:

Q1. c) Rs. 1190
Q2. c) Rs. 1,07,500
Q3. b) 1%
Q4. a) 37.5%
Q5. c) 10%
Q6. b) 10%
Q7. c) 25%
Q8. b) 16
Q9. d) Rs. 60
Q10. a) 17%

Author: Ankita Mundhra


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