Profit and Loss Test

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Profit and Loss Test - 2

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Weekly Quiz Competition

Question 1
1 / -0

If a man sells a T-shirt at Rs. 500, he will incur a loss of Rs. 40. At what price should he sell it to make a profit of Rs. 50?

A
Rs. 550

B
Rs. 590

C
Rs. 595

D
Rs. 600

Solution

First case:
SP = Rs. 500
Loss = Rs. 40
∴CP = SP + Loss
CP = 500 + 40
= Rs. 540
Second case:
Profit = Rs. 50
CP = Rs. 540
∴SP = CP + Profit
= 540 + 50
= Rs 590
Question 2
1 / -0

A fruit seller bought fruits worth Rs. 200. If he intends to make a profit of Rs. 60, what should his selling price be?

A
Rs. 140

B
Rs. 250

C
Rs. 260

D
Rs. 270

Solution

CP = Rs. 200
Profit = Rs. 60
SP =?
SP = CP + Profit
∴ SP = (200 + 60)
= Rs. 260
Question 3
1 / -0

What would be the profit or loss, if a man buys a pair of shoes for Rs. 850 and sells them for Rs. 875?

A
Profit = Rs. 20

B
Profit = Rs. 25

C
Loss = Rs. 25

D
Loss = Rs. 45

Solution

CP = Rs. 850
SP = Rs. 875
Since, SP > CP
∴It will be a profit.
Profit = SP - CP
= (875 - 850)
= Rs. 25.
Question 4
1 / -0

What would be the profit or loss, if a shopkeeper buys a watch for Rs. 2100 and sells it for Rs. 2020?

A
Profit = Rs. 20

B
Loss = Rs. 50

C
Loss = Rs. 60

D
Loss = Rs. 80

Solution

CP = Rs. 2100
SP = Rs. 2020
Since, CP > SP
∴ It will be a loss
Loss = CP - SP
= (2100 - 2020)
= Rs. 80
Question 5
1 / -0

If an article was sold at Rs. 1900, and loss incurred on the article was Rs. 300, then find its cost price.

A
Rs. 1500

B
Rs. 2000

C
Rs. 1600

D
Rs. 2200

Solution

Loss is Rs. 300.
SP = Rs. 1900
Loss = CP - SP
CP = Loss + SP
CP = 300 + 1900
= Rs. 2200
Question 6
1 / -0

Rahul sells a shirt for Rs. 400 and makes a profit of Rs. 100. What is his profit percent?

A
20%

B
25%

C
33.3%

D
40%

Solution

Profit = 100
SP = Rs. 400
∴ CP = Rs. (400 - 100) = Rs. 300
Profit % = Profit/CP × 100
= 100/300 × 100= 33.3%

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Re-Attempt Weekly Quiz Competition

Profit and Loss Test - 2

Result

Profit and Loss Test - 2

Score

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Rank

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SHARING IS CARING

Question 1

Rs. 550

Rs. 590

Rs. 595

Rs. 600

Solution

Question 2

Rs. 140

Rs. 250

Rs. 260

Rs. 270

Solution

Question 3

Profit = Rs. 20

Profit = Rs. 25

Loss = Rs. 25

Loss = Rs. 45

Solution

Question 4

Profit = Rs. 20

Loss = Rs. 50

Loss = Rs. 60

Loss = Rs. 80

Solution

Question 5

Rs. 1500

Rs. 2000

Rs. 1600

Rs. 2200

Solution

Question 6

20%

25%

33.3%

40%

Solution

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Question Analysis

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