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This document contains 10 multiple choice questions related to profit and loss. The questions test concepts like calculating selling price with a given percentage profit, applying net percentage effect to calculate overall profit percentage when multiple discounts are given, determining cost price using profit/loss percentages, and solving word problems involving profit and loss. The correct answers are provided with brief explanations for each question.

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Madhusudan Prasad
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50 views

Untitled

This document contains 10 multiple choice questions related to profit and loss. The questions test concepts like calculating selling price with a given percentage profit, applying net percentage effect to calculate overall profit percentage when multiple discounts are given, determining cost price using profit/loss percentages, and solving word problems involving profit and loss. The correct answers are provided with brief explanations for each question.

Uploaded by

Madhusudan Prasad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Profit and Loss Questions for SSC Exams.

Profit and Loss Quiz 10


Directions: Kindly study the following Questions carefully and choose the right answer:
1. The cost price of an article is Rs. 480. If it is to be sold at a profit of 6.25 percent, how
much would be its selling price ?
A. Rs. 510 B. Rs. 530 C. Rs. 503 D. Rs. 519

2. A tradesman marks his goods at 35% above its cost price and allows a discount of 17.5%
for purchase in cash. What profit per cent does he make ?
A. 11.25 B. 12.125 C. 11.125 D. 11.375

3. A trader sells his goods at 20% profit. Had he bought it at 10% more and sold it for Rs. 70
more, he would have earned a profit of 25%. Find the cost price of the goods.

A. Rs. 200 B. Rs. 800 C. Rs. 400 D. Rs. 600

4. A trader sold two bullocks for Rs. 8,400 each, neither losing nor gaining in total. If he sold
one of the bullocks at a gain of 20%, then the other is sold at a loss of

A. 20% B. 18 % C. 14 % D. 21%

5. After getting two successive discounts Shalini got a shirt at Rs. 136 whose marked price is
Rs. 200. If the second discount is 15% find the first discount.
A. 12.5% B. 15% C. 25% D. 20%

6. The owner of a television shop charges his customer 16% more than the cost price. If a
customer paid Rs. 16588 for a television set, then what was the cost price of the television
set?

A. Rs. 14300 B. Rs. 15500 C. Rs. 13800 D. Rs. 12000


7. By selling 32 oranges for Rs. 30 a man losses 25%. How many oranges should be sold for
Rs. 24 so as to gain 20% in the transaction?
A. 16 B. 24 C. 32 D. 40

8. A vender sells lemons at the rate of 5 for Rs. 14, gaining thereby 40%. For how much did
he buy a dozen lemon?

A. Rs. 20 B. Rs. 21 C. Rs. 24 D. Rs. 28

9. A dealer buys an article marked at Rs. 25000 with 20% and 5% off. He spends Rs. 2000 on
its repair and sells it for Rs. 25,000. What is his gain or loss percent?

A. 21% loss B. 10.50% loss C. 19.04% gain D. 19.04% loss

10. A sold a watch to B at a gain of 20% and B sold it to C at a loss if 10%. If C bought the
watch for Rs. 216, at what price did A purchase it?

A. Rs. 200 B. Rs. 216 C. Rs. 250 D. Rs. 176


Correct Answers:

1 2 3 4 5 6 7 8 9 10
A D C C A A A C C A

Explanations:

1.
100 + Profit%
SP = × CP
100

100 + 6.25 106.25


= × 480 = × 480 = Rs. 510
100 100

Hence, option A is correct.

2. To solve this question, we can apply the net% effect formula


xy
x+y+
100

Let's take x = 35% and y = – 17.5%

By the net% effect formula, we get

35 × 17.5
Profit % = (35 – 17.5 – ) % = (17.5 – 6.125)% = 11.375%
100

Hence, option D is correct.

3. Let the cost price be Rs. 100.

SP at 20% profit = Rs. 120


CP on 10% more = Rs. 110

110 × 125
∴ SP on 25% profit = = Rs. 137.5
100

Difference of selling price = 137.5 – 120 = Rs. 17.5


Now, 17.5 : 100 : : 70 : x

100 × 70
∴ x= = Rs. 400
17.5

Hence, option C is correct.


4. Total selling price of two bullocks = 8400 + 8400 = 16800
100
∴ Cost price of first bullock = 8400 × = Rs. 7000
120

According to the question, there is no profit or loss.


∴ Cost price of second bullock = 16800 – 7000 = Rs. 9800
Selling price of second bullock = Rs. 8400
∴ Loss = 9800 – 8400 = Rs. 1400
1400
∴ Percentage loss on second bullock = × 100
9800

100 2
= % = 14 %
7 7

Hence, option C is correct.

5. Let the first discount be x%.

Then, 85% of (100 – x) % of 200 = 136

85 (100 – x)
or, × × 200 = 136
100 100

or, 8500 – 85x = 136 × 50 = 6800


or, 85x = 1700
∴ x = 20%

Hence, option D is correct.

6. Let the cost price of the television set be Rs. x


Then, (100 + 16) % = 16588
100% = x
By the cross multiplication, we get

16588 × 100
⇒ x= = Rs. 14300
116

Hence, option A is correct.


7. Loss% = 25% and profit% = 20%
By the short trick approach, we get
100 + Profit %
New SP of an orange = × Old SP of an orange
100 – Loss %

100 + 20 30
= ×
100 – 25 32

120 30 6
= × =
75 32 4

Or,

6 × 4 24
= =
4 × 4 16

Hence, 16 oranges for Rs. 24 to be sold to gain 20% as profit.

Hence, option A is correct.

8. Let CP of lemon be x.
Then, 140% of x = 14
14 × 100
⇒ x= = Rs. 10
140

So, the actual CP of 5 lemon = 10


Let the CP of 12 lemon = x.
Then, 5 = 10
12 = x
By the cross multiplication, we get
12 × 10
x = = Rs. 24
5

Hence, option C is correct.

9. Total CP = (95% of 80% of Rs. 25000) + (2000)


95 80
= Rs.[( × × 25000) + 2000]
100 100

= Rs. (19000 + 2000) = Rs. 21000


∴ CP = Rs. 21000, SP = Rs. 25000
Gain = Rs. (25k – 21k) = 4k
4000
∴ Gain% = × 100% = 19.04%
21000

Hence, option C is correct.


10. Let A purchased the watch for Rs. x.

Then, according to the question,

120% of 90% of x = 216

120 90
⇒ × × x = 216
100 100

⇒ x = 108x = 21600 ⇒ x = Rs. 200

Hence, option A is correct.

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