Question 1

1. If the cost price of 25 articles is exactly equal to the selling price of 20 articles, what is the profit or loss percentage?

A) 20% LossB) 20% ProfitC) 25% ProfitD) 25% Loss

Answer

✓ Correct Answer: Option C

Explanation: Solution: Let the CP of 1 article be x. CP of 25 articles = 25x. Given: SP of 20 articles = CP of 25 articles = 25x. SP of 1 article = $\frac{25x}{20} = 1.25x$. $Profit% = \frac{SP - CP}{CP} \times 100 = \frac{1.25x - x}{x} \times 100 = 25%$.

Question 2

2. A shopkeeper marks his goods 40% above the cost price and then allows a discount of 20% on the marked price. What is his net profit percentage?

A) 20% 12%

Question 3

3. By selling an article at $\frac{2}{3}$ of its usual selling price, a trader incurs a loss of 10%. What would be the profit percentage if he sells it at the usual selling price?

A) 25%B) 30%C) 40%D) 35%

Answer

✓ Correct Answer: Option D

Explanation: Solution: Let the usual SP be S. New $SP = \frac{2}{3}S$. Loss is 10%, so New $SP = 0.9 \times CP$. $\frac{2}{3}S = 0.9 \times CP \Rightarrow S = \frac{0.9 \times 3}{2} CP = 1.35 \times CP$. Profit at usual $SP = (1.35 - 1) \times 100 = 35%$.

Question 4

4. An article is sold at a loss of 10% for ₹450. At what price should it be sold to earn a profit of 20%?

A) ₹600B) ₹550C) ₹620D) ₹580

Answer

✓ Correct Answer: Option A

Explanation: Solution: $SP_1 = 450$, Loss = 10%. $0.9 \times CP = 450 \Rightarrow CP = \frac{450}{0.9} = 500$. For 20% profit, $SP_2 = 500 \times 1.2 = 600$.

Question 5

5. What is the single equivalent discount for three successive discounts of 20%, 10%, and 5%?

A) 35%B) 32%C) 31.6%D) 30.8%

Answer

✓ Correct Answer: Option C

Explanation: Solution: Let MP = 100. After 20% discount: 100 - 20 = 80. After 10% discount on 80: 80 - 8 = 72. After 5% discount on 72: 72 - 3.6 = 68.4. Total Discount = 100 - 68.4 = 31.6%.

Question 6

6. A dishonest dealer claims to sell his goods at cost price but uses a weight of 800g for a 1kg weight. Find his profit percentage.

A) 20%B) 25%C) 15%D) 30%

Answer

✓ Correct Answer: Option B

Explanation: Solution: $Profit% = \frac{Error}{True Value - Error} \times 100$. Error = 1000g - 800g = 200g. $Profit% = \frac{200}{800} \times 100 = 25%$.

Question 7

7. If a person calculates his profit as 25% on the selling price, what is his actual profit percentage (calculated on cost price)?

A) 33.33%B) 20%C) 25%D) 16.67%

Answer

✓ Correct Answer: Option A

Explanation: Solution: Let SP = 100. Profit = 25% of 100 = 25. CP = SP - Profit = 100 - 25 = 75. Actual Profit% = $\frac{25}{75} \times 100 = 33.33%$.

Question 8

8. A store offers a scheme "Buy 5 get 4 free". What is the effective discount percentage offered to the customer?

A) 80%B) 40%C) 50%D) 44.44%

Answer

✓ Correct Answer: Option D

Explanation: Solution: Total articles received by customer = 5 + 4 = 9. Number of free articles = 4. $Discount% = \frac{4}{9} \times 100 \approx 44.44%$.

Question 9

9. A man buys two articles for the same cost price. He sells one at a 15% profit and the other at a 15% loss. What is his net profit or loss percentage?

A) 2.25% LossB) 2.25% GainC) No Profit No LossD) 1.5% Loss

Answer

✓ Correct Answer: Option C

Explanation: Solution: Let CP of each article be 100. Total CP = 200. $SP_1 = 115$. $SP_2 = 85$. Total SP = 115 + 85 = 200. Since Total CP = Total SP, there is No Profit No Loss. *(Note: If SP was the same for both, there would be a loss of $\frac{r^2}{100}$%)*.

Question 10

10. A vendor buys oranges at the rate of 5 for ₹10 and sells them at the rate of 4 for ₹10. Find his profit percentage.

A) 20%B) 25%C) 15%D) 30%

Answer

✓ Correct Answer: Option B

Explanation: Solution: CP of 1 orange = $\frac{10}{5} = ₹2$. SP of 1 orange = $\frac{10}{4} = ₹2.5$. Profit per orange = 2.5 - 2 = 0.5. $Profit% = \frac{0.5}{2} \times 100 = 25%$.

Accepted Answer

✓ Correct Answer: Option B

Explanation: Solution: Let CP = 100. MP = 100 + 40% of 100 = 140. Discount = 20% of 140 = 28. SP = 140 - 28 = 112. Profit = 112 - 100 = 12. Profit% = 12%.

Profit and Loss Quiz - Competitive Exams

1. If the cost price of 25 articles is exactly equal to the selling price of 20 articles, what is the profit or loss percentage?

2. A shopkeeper marks his goods 40% above the cost price and then allows a discount of 20% on the marked price. What is his net profit percentage?

3. By selling an article at $\frac{2}{3}$ of its usual selling price, a trader incurs a loss of 10%. What would be the profit percentage if he sells it at the usual selling price?

4. An article is sold at a loss of 10% for ₹450. At what price should it be sold to earn a profit of 20%?

5. What is the single equivalent discount for three successive discounts of 20%, 10%, and 5%?

6. A dishonest dealer claims to sell his goods at cost price but uses a weight of 800g for a 1kg weight. Find his profit percentage.

7. If a person calculates his profit as 25% on the selling price, what is his actual profit percentage (calculated on cost price)?

8. A store offers a scheme "Buy 5 get 4 free". What is the effective discount percentage offered to the customer?

9. A man buys two articles for the same cost price. He sells one at a 15% profit and the other at a 15% loss. What is his net profit or loss percentage?

10. A vendor buys oranges at the rate of 5 for ₹10 and sells them at the rate of 4 for ₹10. Find his profit percentage.