Profit and Loss Test

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Profit and Loss Test - 1

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Weekly Quiz Competition

Question 1
1 / -0

What is the cost price [CP] of an article, if its selling price [SP] is Rs. 98 and profit made is Rs. 16?

A
Rs. 80

B
Rs. 82

C
Rs. 86

D
Rs. 88

Solution

SP = Rs. 98
CP = ?
Profit = Rs. 16
Profit = SP - CP
∴CP = SP - Profit
= Rs. (98 - 16)
= Rs. 82
Question 2
1 / -0

A fruit seller bought fruits worth Rs. 340. If he intends to make a profit of Rs. 70, what should his selling price be?

A
Rs. 370

B
Rs. 390

C
Rs. 410

D
Rs. 420

Solution

CP = Rs. 340
Profit = Rs. 70
SP =?
Since, Profit = SP - CP
∴SP = Profit +CP
= (340 + 70)
= Rs. 410
Question 3
1 / -0

If a shopkeeper sells a pen for Rs. 75, he will incur a loss of Rs. 25. At what price should he sell the pen in order to make a profit of Rs. 15?

A
Rs. 150

B
Rs. 110

C
Rs. 115

D
Rs. 120

Solution

First case:
SP = Rs. 75
Loss = 25
∴CP = SP + Loss
= (75 + 25)
= Rs. 100
Second case:
CP = Rs. 100
Profit = Rs. 15
Since, Profit = SP - CP
∴SP = CP + Profit
= (100 + 15)
= Rs. 115
Question 4
1 / -0

What is the profit percent, when cost price of an article is Rs. 30 and selling price is Rs. 45?

A
25%

B
40%

C
50%

D
75%

Solution

CP = Rs. 30
SP = Rs. 45
Profit = (45 - 30)
Profit % = (Profit/ CP)×100
= 15/30×100
= 50%
Question 5
1 / -0

What is profit or loss percent, if the selling price of an article is Rs. 800 and the cost price is Rs. 1000?

A
20%

B
22.5%

C
25%

D
30%

Solution

∵ CP > SP
∴ It will be a loss.
Loss = CP - SP
∴ Loss = Rs. (1000 - 800) = Rs. 200
Loss % = 200/1000 × 100 = 20%
Question 6
1 / -0

A shopkeeper makes a profit of Rs. 50 by selling a jacket at Rs. 550. What is his profit percent?

A
2%

B
5%

C
11.11%

D
10%

Solution

Profit = Rs. 50
SP = Rs. 550
∴ CP = SP - Profit
= (550 - 50)
= Rs. 500
Profit % = 50/500×100
= 10%
Question 7
1 / -0

A shopkeeper sells a shirt for Rs. 250 and incurs a loss of Rs. 50. What is his loss percent?

A
15%

B
16.6%

C
18%

D
20%

Solution

SP = Rs. 250
Loss = Rs. 50
∴ CP = (250 + 50) = Rs. 300
Loss % = Loss/CP × 100
= 50/300 × 100 = 16.6%
Question 8
1 / -0

If a man purchased an old car for Rs. 20, 000 and sold it for Rs. 20, 500, then calculate the profit made.

A
Rs. 100

B
Rs. 250

C
Rs. 500

D
Rs. 550

Solution

CP = Rs. 20, 000
SP = Rs. 20, 500
Since SP > CP,
∴ It is a profit.
Profit = SP - CP
= (20, 500 - 20, 000)
= Rs. 500
Question 9
1 / -0

Shyam buys a cycle for Rs. 4000 and sells it at a profit of Rs. 500. What is the selling price of the cycle?

A
Rs. 3400

B
Rs. 3500

C
Rs. 3600

D
Rs. 4500

Solution

S.P = C.P + Profit
S.P = 400 + 500
= 4500
S.P = Rs. 4500
Question 10
1 / -0

If a man purchased a flower vase for Rs. 200 and sold it for Rs. 180, then calculate the loss incurred.

A
Rs. 20

B
Rs. 30

C
Rs. 35

D
Rs. 40

Solution

CP = 200
SP = 180
CP > SP
∴ It is a Loss.
Loss = CP - SP
= Rs. (200 - 180)
= Rs. 20

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Re-Attempt Weekly Quiz Competition

Profit and Loss Test - 1

Result

Profit and Loss Test - 1

Score

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Rank

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SHARING IS CARING

Question 1

Rs. 80

Rs. 82

Rs. 86

Rs. 88

Solution

Question 2

Rs. 370

Rs. 390

Rs. 410

Rs. 420

Solution

Question 3

Rs. 150

Rs. 110

Rs. 115

Rs. 120

Solution

Question 4

25%

40%

50%

75%

Solution

Question 5

20%

22.5%

25%

30%

Solution

Question 6

2%

5%

11.11%

10%

Solution

Question 7

15%

16.6%

18%

20%

Solution

Question 8

Rs. 100

Rs. 250

Rs. 500

Rs. 550

Solution

Question 9

Rs. 3400

Rs. 3500

Rs. 3600

Rs. 4500

Solution

Question 10

Rs. 20

Rs. 30

Rs. 35

Rs. 40

Solution

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Question Analysis

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