Profit and loss quiz1
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Quiz Description :
Name : Profit and Loss Test – 1
Subject : Aptitude
Topic : Profit and Loss
Questions: 15 mcq
Time Limit : 20 Minutes
Explanations : Yes
Important for : Competitions like SSC, IBPS, UPSC, Lekhpal, Railways, IITJEE, School students of class 9th, 10th, 11th, 12th and college students ( B.Sc. / M.Sc. )
(*) All the best
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 Question 1 of 15
1. Question
1 pointsBy selling a bicycle for Rs. 2850. A shopkeeper gains 14%. If the profit is reduced to 8% then the selling price will be –
CorrectExplanation – CP of bicycle = 100/114*2850 = Rs. 2500
SP for a profit of 8% = 108/100*2500 = 2700
IncorrectExplanation – CP of bicycle = 100/114*2850 = Rs. 2500
SP for a profit of 8% = 108/100*2500 = 2700
UnattemptedExplanation – CP of bicycle = 100/114*2850 = Rs. 2500
SP for a profit of 8% = 108/100*2500 = 2700
 Question 2 of 15
2. Question
1 pointsA sells an article to B at a profit of 10%, B sells the article back to A at a loss of 10%. In this transaction :
CorrectExplanation – In this transaction A makes a profit of (11099) = 11%
IncorrectExplanation – In this transaction A makes a profit of (11099) = 11%
UnattemptedExplanation – In this transaction A makes a profit of (11099) = 11%
 Question 3 of 15
3. Question
1 pointsIf a man were to sell his chair of Rs. 720 he would loss 25%. To gain 25% he should sell it for :
CorrectExplanation – CP of chair = (100/75)*720 = 960
To gain 25%, SP = (125/100)*960 = Rs. 1200
IncorrectExplanation – CP of chair = (100/75)*720 = 960
To gain 25%, SP = (125/100)*960 = Rs. 1200
UnattemptedExplanation – CP of chair = (100/75)*720 = 960
To gain 25%, SP = (125/100)*960 = Rs. 1200
 Question 4 of 15
4. Question
1 pointsA shopkeeper marks his goods 30% above his cost price but allows a discount of 10% at the time of sale. His gain is :
CorrectExplanation – 100 CP —–30%↑—> 130 (MP) — 10%↓—> 117(SP)
Gain = 17%
IncorrectExplanation – 100 CP —–30%↑—> 130 (MP) — 10%↓—> 117(SP)
Gain = 17%
UnattemptedExplanation – 100 CP —–30%↑—> 130 (MP) — 10%↓—> 117(SP)
Gain = 17%
 Question 5 of 15
5. Question
1 pointsA man sold 2 chairs at 1200 each. On one he gained 20% and on the other he lost 20%. His gain or loss in the whole transaction is :
CorrectExplanation – 100—20%↑—> 120—20%↓—96
Loss = 4% (as 100 becomes 96)
IncorrectExplanation – 100—20%↑—> 120—20%↓—96
Loss = 4% (as 100 becomes 96)
UnattemptedExplanation – 100—20%↑—> 120—20%↓—96
Loss = 4% (as 100 becomes 96)
 Question 6 of 15
6. Question
1 pointsAn article is listed at Rs. 920. A customer pays Rs. 742.90 for it after getting 2 successive discounts. If the rate of 1st discount is 15%. The rate of second discount is:
CorrectExplanation – 920—15%↓ (1st dis.)—> 782—x%↓(2nd dis.) —> 742.90 x% = (782742.90)*100/742.90
= (39.1*100)/742.9
= 5%
IncorrectExplanation – 920—15%↓ (1st dis.)—> 782—x%↓(2nd dis.) —> 742.90 x% = (782742.90)*100/742.90
= (39.1*100)/742.9
= 5%
UnattemptedExplanation – 920—15%↓ (1st dis.)—> 782—x%↓(2nd dis.) —> 742.90 x% = (782742.90)*100/742.90
= (39.1*100)/742.9
= 5%
 Question 7 of 15
7. Question
1 pointsA tradesman marks his goods at 25% above the cost price and allowed a purchasers a discount of 12 (1/2)% his profit of :
CorrectExplanation – 100 (CP)—25%↑—> 125 (MP)—12(1.2)%↓——> 109.375
% profit = 9.375%
IncorrectExplanation – 100 (CP)—25%↑—> 125 (MP)—12(1.2)%↓——> 109.375
% profit = 9.375%
UnattemptedExplanation – 100 (CP)—25%↑—> 125 (MP)—12(1.2)%↓——> 109.375
% profit = 9.375%
 Question 8 of 15
8. Question
1 pointsA dealer marked an article marked at Rs. 25000 with 20% and 5% off. He spends 1000 for its repairs and sells it for Rs. 25000. What is his gain or loss %?
CorrectExplanation – Spends on repairs Rs. 1000
hence, CP becomes (19000+1000) = 20000
profit = 5000
% profit = 5000*100/20000 = 25%
IncorrectExplanation – Spends on repairs Rs. 1000
hence, CP becomes (19000+1000) = 20000
profit = 5000
% profit = 5000*100/20000 = 25%
UnattemptedExplanation – Spends on repairs Rs. 1000
hence, CP becomes (19000+1000) = 20000
profit = 5000
% profit = 5000*100/20000 = 25%
 Question 9 of 15
9. Question
1 pointsA bicycle marked at Rs. 2000 is sold with 2 successive discounts of 20% and 10%. An additional discount of 5% is offered for cash payment. The selling price of bicycle at cash payment is :
CorrectExplanation – 2000 (MP)—20%↓—>1600—–10%↓—–>1440—5%↓—–>1368 (SP).
IncorrectExplanation – 2000 (MP)—20%↓—>1600—–10%↓—–>1440—5%↓—–>1368 (SP).
UnattemptedExplanation – 2000 (MP)—20%↓—>1600—–10%↓—–>1440—5%↓—–>1368 (SP).
 Question 10 of 15
10. Question
1 pointsThe marked price of a radio is 20% more than its cost price. If a discount of 10% is given on a marked price , the gain percent is :
CorrectExplanation – 100 (CP)—20%↑—> 120 (MP)—10%↓—>108
% gain = 8%
IncorrectExplanation – 100 (CP)—20%↑—> 120 (MP)—10%↓—>108
% gain = 8%
UnattemptedExplanation – 100 (CP)—20%↑—> 120 (MP)—10%↓—>108
% gain = 8%
 Question 11 of 15
11. Question
1 pointsA shopkeeper sells sugar in such a way that the selling price of 950g of sugar is is the same as the cost price of 1kg of sugar. What is his gain percent?
CorrectExplanation – % profit = (goods left/goods sold)*100
= (50/950)*100 => 5 (5/19)%
IncorrectExplanation – % profit = (goods left/goods sold)*100
= (50/950)*100 => 5 (5/19)%
UnattemptedExplanation – % profit = (goods left/goods sold)*100
= (50/950)*100 => 5 (5/19)%
 Question 12 of 15
12. Question
1 pointsThe cost price of an article is 80% of its marked price for sale. How much percent does the tradesman gains after allowing a discount of 12%
CorrectExplanation – Let the marked price is Rs.100
then the cost price = Rs. 80
after allowing 12% discount on MP,
SP becomes 88
% profit = 8*100/80 = 10%
IncorrectExplanation – Let the marked price is Rs.100
then the cost price = Rs. 80
after allowing 12% discount on MP,
SP becomes 88
% profit = 8*100/80 = 10%
UnattemptedExplanation – Let the marked price is Rs.100
then the cost price = Rs. 80
after allowing 12% discount on MP,
SP becomes 88
% profit = 8*100/80 = 10%
 Question 13 of 15
13. Question
1 pointsA merchant has announced 25% rebate on prices of readymade garments at the time of sell. If purchaser needs to have a rebate of Rs.400, then how many shirts, each costing Rs. 320 should he purchase.
CorrectExplanation – discount on one shirt –
= 320*25/100 => Rs. 80
hence, he should buy = 400/80 => 5
IncorrectExplanation – discount on one shirt –
= 320*25/100 => Rs. 80
hence, he should buy = 400/80 => 5
UnattemptedExplanation – discount on one shirt –
= 320*25/100 => Rs. 80
hence, he should buy = 400/80 => 5
 Question 14 of 15
14. Question
1 pointsA reduction of 10% in the price of tea enables a dealer to purchase 25kg more tea for Rs. 22500. What is the reduced price per kg of tea?
CorrectExplanation – Thought process method
Let the original price be 100per kg, he get tea = 22500/100 = 225 kg
After reduction the price will = 90 kg, he get tea = 22500/90 = 250 kg
So reduction price is 90 per kg as it enables to buy 25kg of more tea.
IncorrectExplanation – Thought process method
Let the original price be 100per kg, he get tea = 22500/100 = 225 kg
After reduction the price will = 90 kg, he get tea = 22500/90 = 250 kg
So reduction price is 90 per kg as it enables to buy 25kg of more tea.
UnattemptedExplanation – Thought process method
Let the original price be 100per kg, he get tea = 22500/100 = 225 kg
After reduction the price will = 90 kg, he get tea = 22500/90 = 250 kg
So reduction price is 90 per kg as it enables to buy 25kg of more tea.
 Question 15 of 15
15. Question
1 pointsA sells an article to B at a gain of 25%. B sells it to C at a gain of 20%. C sells it to D at a gain of 10%. If D pays Rs. 330 for it, how much did it cost to A?
CorrectExplanation – A’s CP = 330*(100/125)*(100/120)*(100/110) = Rs. 200.
IncorrectExplanation – A’s CP = 330*(100/125)*(100/120)*(100/110) = Rs. 200.
UnattemptedExplanation – A’s CP = 330*(100/125)*(100/120)*(100/110) = Rs. 200.
actually, I am preparing for SSC CGL so, and i am student of hindi language .so you should geting test in hindi language.
Hello Mantu, we are trying to publish more content in hindi as well as in English. You can check tests from our category and you will get tests in hindi also.