Profit and Loss Practice Question and Answer

Q:

An item when sold for ₹ 1,690 earned 30% profit on the cost price. Then the cost price is 

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  • 1
    ₹ 1,300
    Correct
    Wrong
  • 2
    ₹ 130
    Correct
    Wrong
  • 3
    ₹ 507
    Correct
    Wrong
  • 4
    ₹ 630
    Correct
    Wrong
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Answer : 1. "₹ 1,300 "
Explanation :

Q:

A cloth merchant on selling 33 metres of cloth obtain a profit equal to the selling price of 11 metre of cloth the profit is

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  • 1
    40%
    Correct
    Wrong
  • 2
    22%
    Correct
    Wrong
  • 3
    50%
    Correct
    Wrong
  • 4
    11%
    Correct
    Wrong
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Answer : 3. "50%"

Q:

Shashi sells two articles for ₹5,000 each with no loss and no profit in the overall transaction. If one article is sold at $$16{2\over 3}\%$$loss, then the other is sold at a profit of:

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  • 1
    25%
    Correct
    Wrong
  • 2
    24%
    Correct
    Wrong
  • 3
    16%
    Correct
    Wrong
  • 4
    18%
    Correct
    Wrong
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Answer : 1. "25%"

Q:

Which one of the following costs more?

I. 200 packets of ₹ 250 each

II . 20 dozens of ₹ 250 each

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  • 1
    I
    Correct
    Wrong
  • 2
    II
    Correct
    Wrong
  • 3
    Both I and II are equal
    Correct
    Wrong
  • 4
    Cannot be calculated
    Correct
    Wrong
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Answer : 2. "II"

Q:

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

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  • 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"

Q:

A sold a watch to B at a profit of 20%. B sold it to C at 30% profit. C sold it to D at 10% loss. If B's profit is ₹80 more than that of A, then D bought it for:

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  • 1
    ₹700
    Correct
    Wrong
  • 2
    ₹680
    Correct
    Wrong
  • 3
    ₹652
    Correct
    Wrong
  • 4
    ₹702
    Correct
    Wrong
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Answer : 4. "₹702"

Q:

A salesman expects a gain of 13% on his cost price. If in a month his sale was ₹ 7,91,000, what was his profit ? 

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  • 1
    ₹ 91,000
    Correct
    Wrong
  • 2
    ₹ 97,786
    Correct
    Wrong
  • 3
    ₹ 85,659
    Correct
    Wrong
  • 4
    ₹ 88,300
    Correct
    Wrong
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Answer : 1. "₹ 91,000 "
Explanation :

Q:

A merchant purchases a wrist watch for ₹ 450 and fixes its list price in such a way that after allowing a discount of 10%, he earns a profit of 20%. Then the list price of the watch is

940 0

  • 1
    ₹ 550
    Correct
    Wrong
  • 2
    ₹ 600
    Correct
    Wrong
  • 3
    ₹ 650
    Correct
    Wrong
  • 4
    ₹ 700
    Correct
    Wrong
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Answer : 2. "₹ 600"
Explanation :

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