PRACTICE QUESTIONS ON PROFIT AND LOSS

Examination Questions on Profit and Loss

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1. Two chairs and one table cost Rs. 700 and 1 chair and 2 tables cost Rs. 800. If the cost of m tables and m chairs is Rs. 30,000, then what is m equal to?  

  1. 60
  2. 55
  3. 50
  4. 45

2. A person A sells a table costing Rs. 2000 to a person B and earns a profit of 6 %. The person B sells it to another person C at a loss of 5 %. At what price did B sell the table?  

  1. Rs. 2054
  2. Rs. 2050
  3. Rs. 2024
  4. Rs. 2014

3. A person sold an article for Rs. 3,600 and got a profit of 20%. Had he sold the article for Rs. 3,150, how much profit would he have got?  

  1. 4%
  2. 5%
  3. 6%
  4. 10%

4. Two lots of onions with equal quantity, one costing Rs. 10 per kg and the other costing Rs. 15 per kg, are mixed together and whole lot is sold at Rs. 15 per kg. What is the profit or loss?  

  1. 10% loss
  2. 10% profit
  3. 20% profit
  4. 20% loss

5. A merchant earns a profit of 20% by selling a basket containing 80 apples which cost Rs. 240. But he gives one-fourth of it to his friend at cost price and sells the remaining apples. In order to earn the same profit, at what price must he sell each apple?  

  1. Rs. 3.00
  2. Rs. 3.60
  3. Rs. 3.80
  4. Rs. 4.80

6. A milkman bought 15 kg of milk and mixed 3 kg of water in it. If the price per kg of the mixture becomes Rs. 22, what is cost price of the milk per kg?  

  1. Rs. 28.00
  2. Rs. 26.40
  3. Rs. 24.00
  4. Rs. 22.60

7. The cost of two articles are in the ratio 3 : 5. If there is 30% loss on the first article and 20% gain on the second article, what is overall percentage of loss or gain?  

  1. gain 2.25%
  2. loss 5.25%
  3. loss 2%
  4. None of the above

8. A man loses 20% of his money. After spending 25% of the remainder, he has Rs. 480 left. What is the amount of money he originally had?  

  1. Rs. 600
  2. Rs. 720
  3. Rs. 800
  4. Rs. 840

9. Assuming that profit of a shopkeeper in a particular commodity is a linear expression of transportation charge (t) and the quantity of commodity (q). He earns a profit of Rs. 10,000 by selling 20 units at the transport charge of Rs. 400. He also earns a profit of Rs. 12,000 by selling 25 units at the transport charge of Rs. 600. What is the linear expression in t and q?  

  1. 600q – 5t
  2. 500q – 4t
  3. 600q – 4t
  4. 500q – 5t

10. A person bought 8 quintal of rice for certain rupees. He sold 3 qunitals of rice at 10% profit. After a week, he sold 3 quintal of rice with neither profit nor loss and 2 quintal at 5% loss. In this transaction, what is the profit?  

  1. 10%
  2. 20%
  3. 25%
  4. None of the above


11. A person sold an article for Rs. 136 and made a loss of 15%. Had he sold it for Rs. x, he would have made a profit of 15%. Which one of the following is correct?  

  1. 190 < x < 200
  2. 180 < x < 190
  3. 170 < x < 180
  4. 160 < x < 170

12. A man sold two watches, each for Rs. 495. If he gained 10% on one watch and suffered a loss of 10% on the other, then what is the loss or gain percentage in the transaction?  

  1. 1% gain
  2. 1% loss
  3. 100/99 % loss
  4. No gain no loss

13. On selling an article for Rs. 240, a trader loses 4 %. In order to gain 10 %, he must sell the article for  

  1. Rs. 275
  2. Rs. 280
  3. Rs. 285
  4. Rs. 300

14. A dishonest dealer professes to sell his goods at cost price, but uses a false weight and thus gains 20%. For a kilogram he uses a weight of  

  1. 700 g
  2. 750 g
  3. 800 g
  4. 850 g

15. A man bought a number of oranges at 3 for a rupee and an equal number at 2 for a rupee. At what price per dozen, should he sell them to make a profit of 20 %?  

  1. Rs. 4
  2. Rs. 5
  3. Rs. 6
  4. Rs. 7

16. A trader sells two cycles at Rs. 1,188 each and gains 10 % on the first and loses 10 % on the second. What is the profit or loss percent on the whole?  

  1. 1 % loss
  2. 1 % gain
  3. No loss or gain
  4. 2 % loss

17. A milk vendor bought 28 litres of milk at the cost of Rs. 8.50 per litre. After adding some water, he sold the mixture at the same price. If he gains 12.5%, how much water did he add?  

  1. 5.5 litres
  2. 4.5 litres
  3. 3.5 litres
  4. 2.5 litres


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