Profit and Loss Practice Question and Answer

Q:

A fruit merchant makes a profit of 25% by selling mangoes at a certain price. If he charges Re. 1 more on each mango, he would gain 50%. At first the price of one mango was

1513 0

  • 1
    Rs. 4
    Correct
    Wrong
  • 2
    Rs. 6
    Correct
    Wrong
  • 3
    Rs. 5
    Correct
    Wrong
  • 4
    Rs. 7
    Correct
    Wrong
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Answer : 3. "Rs. 5 "
Explanation :

Q:

Krishnan bought a camera and paid 20% less than its original price. He sold it at 40% profit on the price he had paid. The percentage of profit earned by Krishnan on the original price was

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  • 1
    12%
    Correct
    Wrong
  • 2
    15%
    Correct
    Wrong
  • 3
    22%
    Correct
    Wrong
  • 4
    32%
    Correct
    Wrong
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Answer : 1. "12% "
Explanation :

Q:

A wholesaler purchased 7 hair clips for a rupee. How many for a rupee must he sell to get profit of 40%?

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  • 1
    6
    Correct
    Wrong
  • 2
    5
    Correct
    Wrong
  • 3
    4
    Correct
    Wrong
  • 4
    3
    Correct
    Wrong
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Answer : 2. "5"

Q:

A shopkeeper sells a watch set on discount of 8% of printed price and gain 25 %. If marked price was Rs. 20,000 then, what was the cost price?

1505 1

  • 1
    Rs. 13,800
    Correct
    Wrong
  • 2
    Rs. 14,720
    Correct
    Wrong
  • 3
    Rs. 14, 800
    Correct
    Wrong
  • 4
    Rs. 13, 720
    Correct
    Wrong
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Answer : 2. "Rs. 14,720"

Q:

A man purchased a bedsheet for₹ 450 and sold it at a gain of 10% calculated on the selling price. The selling price of the bedsheet was 

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  • 1
    ₹ 480
    Correct
    Wrong
  • 2
    ₹500
    Correct
    Wrong
  • 3
    ₹ 460
    Correct
    Wrong
  • 4
    ₹ 475
    Correct
    Wrong
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Answer : 2. "₹500"
Explanation :

Q:

Directions: Study the information given below and answer the questions that follow.
An article was bought for Rs. 5600. Its price was marked up by 12%. Thereafter it was sold at a discount of 5% on the marked price.

What was amount of discount given?

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  • 1
    Rs 319.6
    Correct
    Wrong
  • 2
    Rs 303.6
    Correct
    Wrong
  • 3
    Rs 306.3
    Correct
    Wrong
  • 4
    Rs 313.6
    Correct
    Wrong
  • 5
    Rs 316.9
    Correct
    Wrong
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Answer : 4. "Rs 313.6"

Q:

Aparna changes the marked price of an item to 50% above its C.P. What % of discount allowed in approximately to gain 10%?

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  • 1
    27%
    Correct
    Wrong
  • 2
    25%
    Correct
    Wrong
  • 3
    35%
    Correct
    Wrong
  • 4
    37%
    Correct
    Wrong
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Answer : 1. "27%"

Q:

A merchant fixes the sale price of his goods at 15 % above the cost price. He sells his goods at 12 % less than the fixed price. His percentage of profit is: 

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  • 1
    $$1{1\over5}$$
    Correct
    Wrong
  • 2
    $$2{1\over5}$$
    Correct
    Wrong
  • 3
    $$2{1\over2}$$
    Correct
    Wrong
  • 4
    2
    Correct
    Wrong
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Answer : 1. " $$1{1\over5}$$"

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