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Profit and Loss Practice Questions
Q1. A man wanted to sell an article with 20% profit, but he
actually sold at 20% loss for Rs 480. At what price (Rs)
he wanted to sell it to earn the profit?
a) 720
b) 840
c)600
d) 750
Q2. The cost price of 36 books is is equal to the selling
price of 30 books. The gain per cent is:
a) 20%
b) 50/3 %
c) 18%
d) 24%
Q3 A person sells two machines at Rs 396 each.
One one he gains 10% and on the other he loses 10%.
His profit or loss in the whole transaction is:
a) No gain no loss
b) 1% loss
c) 1% profit
d) 8% profit
Q4. A house and a shop were sold for Rs 1 lakh each.
In this transaction, the house sale resulted into 20% loss
whereas the shop sale into 20% profit.
The entire transaction resulted in
a) No loss no gain
b) gain of Rs 1/24 lakh
c) Loss of Rs 1/12 lakh
d) Loss of Rs 1/18 lakh
Q5. A sells a bicycle to B at a profit of 20%.
B sells it to C at a profit of 25%. If C pays
Rs 225 /- for it, the cost price of the bicycle for A is:
a) Rs 110/-
b) Rs 125 /-
c) Rs 120 /-
d) Rs 150/-
Q6. 12 copies of a book were sold for Rs 1800/- thereby
gaining cost-price of 3 copies. The cost price of a copy is:
a) Rs 120
b) 150
c) RS 1200
d) Rs 1500
Q7. If a man estimates his loss as 20% of the selling price,
then his loss per cent is:
a) 20%
b) 25%
c) 40/3%
d) 50/3%
Q8. If I would have purchased 11 articles for Rs 1o and
sold all the articles at the rate of 10 for Rs 11, the
profit per cent would have been:
a) 10%
b) 11%
c) 21%
d) 100%
Q9. An article is sold at a loss of 10%.
Had it been sold for Rs 9 more, there would have been
a gain of 25/2% on it. The cost price of the article is:
a) Rs40
b) RS 45
c) Rs 50
d) RS 35
Q10. 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 1202
b) Rs 1190
c) Rs 1160
d) RS 1000
Answers
1 a,2 a,3 b,4 c,5 d,6 a,7 d,8 c,9 a,10 b
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