Profit and Loss Practice Question and Answer

Q:

If books bought at prices from ₹150 to ₹ 300 are sold at prices ranging from ₹ 250 to  ₹350, what is the greatest possible profit that might be made in selling 15 books ?

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  • 1
    ₹ 750
    Correct
    Wrong
  • 2
    ₹ 4,250
    Correct
    Wrong
  • 3
    ₹ 3,000
    Correct
    Wrong
  • 4
    Cannot be determined
    Correct
    Wrong
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Answer : 3. "₹ 3,000"
Explanation :

Q:

The cost price of a radio is₹  600. The 5% of the cost price is charged towards transportation. After adding that, if the net profit to be made is 15%, then the selling price of the radio must be

1184 0

  • 1
    ₹ 704.50
    Correct
    Wrong
  • 2
    ₹ 724.50
    Correct
    Wrong
  • 3
    ₹ 664.50
    Correct
    Wrong
  • 4
    ₹ 684.50
    Correct
    Wrong
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Answer : 2. "₹ 724.50 "
Explanation :

Q:

A trader marks his goods at 20% above cost price. If he allows a discount of 5% what is his final profit%?

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  • 1
    12%
    Correct
    Wrong
  • 2
    14%
    Correct
    Wrong
  • 3
    15%
    Correct
    Wrong
  • 4
    18%
    Correct
    Wrong
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Answer : 2. "14%"

Q:

A man sells an article at 5 % above its cost price. If he had bought it at 5 % less than what he had paid for it and sold it at Rs. 2 less, he would have gained 10 %. The cost price of the article is 

1177 0

  • 1
    Rs. 400
    Correct
    Wrong
  • 2
    Rs. 100
    Correct
    Wrong
  • 3
    Rs. 200
    Correct
    Wrong
  • 4
    Rs. 300
    Correct
    Wrong
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Answer : 1. "Rs. 400"

Q:

By selling an article at 2/3 of the Marked price, there is a loss of 10%. The profit percent when the article is sold at the Marked prices

1175 0

  • 1
    20%
    Correct
    Wrong
  • 2
    30%
    Correct
    Wrong
  • 3
    35%
    Correct
    Wrong
  • 4
    40%
    Correct
    Wrong
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Answer : 3. "35%"

Q:

Shivani purchased five pens for ₹600. She sells these five pens at the rate of ₹50 per pen. What is the approximate lo percentage that Shivani incurred on selling the five pens?

1172 0

  • 1
    58.33%
    Correct
    Wrong
  • 2
    48.33%
    Correct
    Wrong
  • 3
    53.33%
    Correct
    Wrong
  • 4
    61.66%
    Correct
    Wrong
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Answer : 1. "58.33%"

Q:

A Shopkeeper marks his goods 20 % above its cost price and gives 15 % discount on the marked price. Find the gain?

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

Q:

If the loss is 20%, by what fraction should the selling price be multiplied to get the cost price?

1163 0

  • 1
    4/5
    Correct
    Wrong
  • 2
    8/5
    Correct
    Wrong
  • 3
    5/4
    Correct
    Wrong
  • 4
    6/5
    Correct
    Wrong
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Answer : 3. "5/4"

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