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## Profit and Loss Quiz Online Test Details

Quiz Name |
Profit and Loss |

Category |
Aptitude |

Number of Questions |
25 |

Time |
30 Minutes |

Exam Type |
MCQ (Multiple Choice Questions) |

## Profit and Loss MCQ Problems – Practice Now

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**1. Anurag buys an old laptop for Rs. 17500 and spends Rs. 2,500 for its repair. He is not satisfied from his laptop and sells the laptop at Rs. 22,500. Find his profit percent?**

A. 20%

B. 12.5%

C. 15%

D. 14.5%

E. 25%

**Answer: B**

**Explanation: **

**2. A invests some amount in a business. After 6 months his friend B joined him with the triple amount that A invests in starting of business. If in the business the total profit earned by both of them is Rs.16480, then find the difference between the share of profit between A and B**

A. 4296 RS.

B. 3296 RS.

C. 3290 RS.

D. 6396 RS.

E. 2396 RS.

**Answer: B**

**Explanation:**

**3. A shopkeeper is selling a fan at a discount of 30% on the mark price. If the marked price is 20% above the cost price and the fan was sold for Rs.420 then the cost price is**

A. RS.700

B. RS.500

C. RS.400

D. RS.600

E. RS.850

**Answer: B**

**Explanation:**

**4. Amit sells a Chair at 20% profit to Rahul. Rahul sells it to Sanjay at 30% profit. If Sanjay sells it to Dev at 50% profit and difference between Cost price of chair for Dev and Amit was Rs.2680. Then, how much Rahul pays to Amit for the chair?**

A. RS.2400

B. RS.3400

C. RS.3000

D. RS.2200

E. RS.2100

**Answer: A**

**Explanation:**

Let the C.P of chair be 100x.

The, S.P for Amit = C.P for Rahul = 100x + 20% of 100x= 100x+20x= 120x

S.P for Rahul = C.P for Sanjiv = 120 + 30% of 120 = 120x + 36x = 156x

S.P for Sanjay = C.P for Dev = 156x + 50% of 156x = 156x + 78x = 234x

ATQ,

C.P for Dev – C.P for Amit = 2680

So, 234x – 100x = 2680

134x = 2680

So, x = 20

So, Rahul pays 120x = 120 * 20 = Rs.2400 to Amit.

**5. A, B and C started a business with capital Rs.12000, Rs.20000 and Rs.24000 respectively. After 4 months, B takes out Rs.4000 and C added Rs.6000 in his investment. Then, find the profit share of B, if the total profit is Rs.8600**

A. RS.2500

B. RS.3500

C. RS.2600

D. RS.3600

E. RS.3000

**Answer: C**

**Explanation:**

**6. A man went to market and purchased a fan of Rs.2000 and sold it at the loss of 20% . From that amount, he purchased a Chair and sold it at a profit of 20%. What is the amount of overall profit/loss made by him in whole dealing?**

A. Rs.230

B. RS.340

C. RS.350

D. RS.80

E. RS.290

**Answer: D**

**Explanation:**

**7. Suraj sold an item for Rs.1600 and incurred a loss of 20%. At what price, should he have sold the item to have gained a profit of 30%.**

A. RS.2000

B. RS,1800

C. RS.2600

D. RS.2500

E. RS.3500

**Answer: C**

**Explanation:**

Let the Cost price of item be 100x

So, after 20% loss, S.P of item = 100x – 20% of 100x = 80x

And, it is given that

80x = 1600

So, x = 20

So, cost price of item = 2000

After 30% profit,

S.P of item = 2000 + 30% of 2000 = 2000+ 600 = Rs.2600

**8. Elon and Alex started work together with investment Rs. 2400 and Rs. 3200 respectively. After a year Mike also joined with investment of Rs. 3500. If in two years, they earned a profit of Rs. 5880, then find the profit share of Elon.**

A. RS.2520

B. RS.1920

C. RS.2240

D. RS.1800

E. RS.1980

**Answer: B**

**Explanation: **

**9. Sameer invested Rs. 45000 in a scheme which is 12.5% more than amount invested by Abhishek. After 1 year, Sameer invested Rs. 5000 more while Abhishek withdraw half of his investment. If at the end of 2 years, total profit earned by them is Rs. 3,10,000, then find difference between their profit share.**

A. RS.6000

B. RS.125000

C. RS.110000

D. RS.190000

E. RS.70000

**Answer: E**

**Explanation: **

**10. Neeraj buy an article for Rs. 3,000. He sold it at profit 20% & get some money and from that money he again buys an article and got 25% loss. What was the profit & loss he got from the transaction?**

A. RS.500 profit

B. RS.300 loss

C. RS.300 profit

D. RS.500 loss

E. Neither profit or loss

**Answer: B**

**Explanation: **

**11. Roman bought an article for Rs 5,840. He spent Rs. 360 on its shipping. He then sold it for Rs. 6,500, then find the approximate profit or loss % in this transaction**

A. 5%

B. 2%

C. 8%

D. 13%

E. 17%

**Answer: A**

**Explanation:**

**12. P, Q and R started a business with their investment in the ratio of 3:5:1 respectively. After 5 months P invested the same amount as before but Q withdrew 2/5th of their investment. The total profit at the end of one year is Rs. 3,450, then find profit earned by R.**

A. Rs.315

B. Rs.420

C. Rs.360

D. Rs.540

E. Rs.130

**Answer: C**

**Explanation:**

**13. Prashant bought a bike for Rs.80,000. He sold it to Shivam at 20% profit. Shivam spent Rs.4,000 on its maintenance and then Shivam sold it to Adarsh at 18% loss. Find out the price at which Adarsh purchased the bike.**

A. Rs.85,000

B. Rs.82,000

C. Rs.88,000

D. Rs.96,000

E. Rs.92,000

**Answer: B**

**Explanation:**

**14. Amit and Deepak started a business with initial investments in the ratio of 3:1 respectively. At the end of 8 months from start of the business, Amit left. If Deepak received Rs 8000 as his share of the annual profit, then find what was annual profit?**

A. Rs.20000

B. Rs.28000

C. Rs.24000

D. Rs.32000

E. Rs.16000

**Answer: C**

**Explanation:**

**15. Gaurav sold an article at a loss of 10%. If the selling price had been Rs. 125 more, there would have been a gain of 15%. The cost price of the article (in Rs.) was:**

A. 250

B. 500

C. 300

D. 400

E. None

**Answer: B**

**Explanation:**

Let the Cost price of the article be Rs. x.

Then, Selling price = Rs. 0.9x

A.T.Q.:

⇒ 0.9x + 125 = 115% of x

⇒ 0.9x + 125 = (23/20)x

⇒ 18x + 2500 = 23x

⇒ 5x = 2500

⇒ x = Rs. 500 = Cost Price of the article

**16. A fruit vendor makes a profit of 18% by selling raspberries at a certain price. If he charges ₹1 more for each raspberry, he can make a profit of 38%. Find the selling price at 38% profit.**

A. ₹6.0

B. ₹5.9

C. ₹6.9

D. ₹5.0

E. None

**Answer: C**

**Explanation:**

Let the cost price of a raspberry be ₹x.

Then, selling price in first condition = (x) + (x) × 18% = x + 0.18x = 1.18x

And selling price in second condition = (x) + (x) × 38% = x + 0.38x = 1.38x

Now, as per question,

Selling price in first condition + ₹1 = Selling price in second condition

⇒ 1.18x + 1 = 1.38x

⇒ 1.38x – 1.18x = 1

⇒ 0.2x = 1

⇒ x = 1/0.2 = 5

Therefore, selling price in second condition = 1.38 × 5 = ₹6.9

**17. A shopkeeper sells two watches for 5000. The cost price of 1st watch is equal to the selling price of 2nd watch. If the first watch is sold at a loss of 33.33% and the second watch is sold at the gain of 60%. Find the overall profit or loss.**

A. Rs 125

B. Rs 150

C. Rs 200

D. Rs 185

E. None

**Answer: A**

**Explanation:**

Let the S.P of 1st watch be x then S.P of 2nd watch be 5000 – x

Now, C.P of 1st watch = S.P of 2nd watch = 5000 – x

Loss in 1st watch = 33.33% = 1/3

S.P of 1st watch = (5000 – x) – [(5000 – x) 1/3]

x = (15000 – 3x – 5000 + x)/3

5x = 10000

x = 2000

Now S.P of 2nd watch = 5000- 2000 = 3000

Profit = 60% so, C.P of 2nd watch = 3000 × 100/160 = Rs 1875

Therefore, total C.P = 3000 + 1875 = Rs 4875

Total Profit = 5000 – 4875 = Rs 125

**18. A shopkeeper earns a profit of 25% after selling a book at 25% discount on the printed price. The ratio of the cost price and selling price of the book is:**

A. 15 : 78

B. 12 : 15

C. 16 : 25

D. 17 : 20

E. None

**Answer: B**

**Explanation:**

**19. Abhimanye sold a refrigerator for Rs 3675 after giving 25% discount on its marked price. Had he not given any discount, he would have earned a profit of 40%. What was the cost price of the article?**

A. Rs 3890

B. Rs 3800

C. Rs 3500

D. Rs 3587

E. None

**Answer: C**

**Explanation:**

**20. Mohit and Rohit enter into a partnership with Rs. 100000 and Rs. 120000 respectively. Puneet joins them after ‘m’ months contributing Rs. 140,000 and Rohit leaves ‘m’ months before the end of the year. If they share the profit in the ratio of 20:18:21, then find the value of m:**

A. 6 months

B. 9 months

C. 3 months

D. 5 months

E. None

**Answer: C**

**Explanation:**

**21. A person marks his goods x% above the cost price and allows a discount of 30% on the marked price. If his profit is 5%, then the value of x will be:\**

A. 50

B. 60

C. 45

D. 35

E. None

**Answer: A**

**Explanation:**

**22. A invest 1/6 part of total capital for 1/3 time. B invest 1/3 part of total capital for 1/4 time and C invest the rest capital for full time. If the total profit is Rs. 69000 then find the share of B.**

A. 12000

B. 10000

C. 9000

D. 3000

E. None

**Answer: C**

**Explanation:**

**23. The cost price of an article is Rs 425. A shopkeeper gives a discount of 20% and still gains 16%. What is the marked price of the article?**

A. Rs 605.75

B. Rs 620.50

C. Rs 624.50

D. Rs 616.25

E. None

**Answer: D**

**Explanation:**

**24. A shopkeeper bought two cycles in Rs. 1700. If he sold first cycle at 30% profit and second at 20% profit, he earns a certain profit. If he sold first cycle at 20% profit and second at 30% profit then he gets Rs. 30 Less. The price of both cycle is?**

A. 1200, 500

B. 900, 800

C. 1000, 700

D. 1050, 650

E. None

**Answer: C**

**Explanation:**

**25. By selling an article for Rs. 1380, a man incurs a loss of1427% What should be the selling price of that article to gain 1427%.**

A. 1720

B. 1580

C. 1640

D. 1840

E. None

**Answer: D**

**Explanation:**

**26. A sold a thing to B at 20% profit and B sold it to C at 25% profit. If C paid Rs 255, find out the cost price for A(in Rs)?**

A. 170

B. 150

C. 190

D. 130

E. None

**Answer: A**

**Explanation:**

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## Profit and Loss Aptitude Questions and Answers

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## Profit and Loss Formulas

In this article, we have given some of the Profit and Loss Formulas. So, all the candidates who are interested in checking the formulas can check them from this section.

**Gain % = (Gain / CP) * 100****SP = [(100 + Gain%) / 100] * CP****Loss % = (Loss / CP) * 100****SP = [(100 – Loss %) / 100]*CP****SP: Selling Price****CP: Cost Price**

## Profit & Loss Video Explanation

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