Profit and Loss Questions Practice Question and Answer

Q:

A starts a business, after 6 months B also join him with Rs.4500 and after 2 months of B’s joining C also join them with Rs.4500. If A gets approx. Rs 4900 out of total annual profit of Rs. 10,000 then find the approximate value of initial investment of A.

2789 0

  • 1
    Rs. 4800
    Correct
    Wrong
  • 2
    Rs. 4200
    Correct
    Wrong
  • 3
    Rs. 3600
    Correct
    Wrong
  • 4
    Rs 4400
    Correct
    Wrong
  • 5
    Rs. 5200
    Correct
    Wrong
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Answer : 3. "Rs. 3600"

Q:

A piece of land came to a person through three middlemen each gaining 20%. If the person purchased the land for Rs. 3,45,600 the original cost of the land was: 

2785 1

  • 1
    Rs.1,75,800
    Correct
    Wrong
  • 2
    Rs.2,00,000
    Correct
    Wrong
  • 3
    Rs.1,00,000
    Correct
    Wrong
  • 4
    Rs.1,50,000
    Correct
    Wrong
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Answer : 2. "Rs.2,00,000"

Q:

By selling 15 mangoes, a fruit seller gains the selling price of 3 mangoes. His gain is

2740 0

  • 1
    25%
    Correct
    Wrong
  • 2
    16%
    Correct
    Wrong
  • 3
    24%
    Correct
    Wrong
  • 4
    27%
    Correct
    Wrong
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Answer : 1. "25%"

Q:

Prakash, Sunil and Anil started a business jointly investing Rs. 11 lakhs, Rs. 16.5 lakhs and Rs 8.25 lakhs respectively. The profit earned by them in the business at the end of three years was Rs. 19.5 lakhs. What will be the 50% of Anil's share in the profit? 

2709 0

  • 1
    Rs. 4.5 lakhs
    Correct
    Wrong
  • 2
    Rs. 2.25 lakhs
    Correct
    Wrong
  • 3
    Rs. 2.5 lakhs
    Correct
    Wrong
  • 4
    Rs. 3.75 lakhs
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 2. "Rs. 2.25 lakhs "

Q:

Profit after selling a commodity for 524 is the same as loss after selling it for Rs. 452. The cost price of the commodity is 

2633 0

  • 1
    480
    Correct
    Wrong
  • 2
    500
    Correct
    Wrong
  • 3
    488
    Correct
    Wrong
  • 4
    485
    Correct
    Wrong
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Answer : 3. "488 "

Q:

A trader sold an article at profit of 20%. Had he bought that article at 60% less price and sold it at Rs 90 less, then he would have gained 50%. What is the value (in Rs) of cost price? 

2627 0

  • 1
    250
    Correct
    Wrong
  • 2
    300
    Correct
    Wrong
  • 3
    150
    Correct
    Wrong
  • 4
    200
    Correct
    Wrong
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Answer : 3. "150 "

Q: On selling 36 oranges one incurs a loss equal to selling Price of 4 oranges. What will be the loss%? 2561 0

  • 1
    10%
    Correct
    Wrong
  • 2
    34%
    Correct
    Wrong
  • 3
    13%
    Correct
    Wrong
  • 4
    14%
    Correct
    Wrong
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Answer : 1. "10%"

Q:

If 5500 copies are published and the transportation cost on them amounts to Rs. 82,500, then what should be the selling price of the book so that the publisher can earn a profit of 25%?

2543 0

  • 1
    Rs. 187.50
    Correct
    Wrong
  • 2
    Rs. 191.50
    Correct
    Wrong
  • 3
    Rs. 175
    Correct
    Wrong
  • 4
    Rs. 180
    Correct
    Wrong
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Answer : 1. "Rs. 187.50"
Explanation :

For the publisher to earn a profit of 25% S.P = 125% of C.P.
Also Transportation Cost = 10% of C.P.
Let the S.P of 5500 books be Rs. x.
Then, 10 : 125 = 82500 : x ⇒ x = Rs.  = Rs. 1031250.
⸫ S.P. of one book = Rs. = Rs. 187.50. 


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